OMVIC Practice Test

Question: 1 / 400

Deposits over what amount must be kept in a trust account?

$5,000

$8,000

$10,000

Deposits over $10,000 must be kept in a trust account. The other options are incorrect because they are either lower amounts or higher amounts than the correct answer. This amount is usually determined by government regulations or policies set by the financial institution where the trust account is held. Keeping deposits over a certain amount in a trust account ensures that they are protected and properly managed for the benefit of the depositors.

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$12,000

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