Crucial Exams

Multistate Professional Responsibility Exam Practice Question

An attorney opened a practice and received an advanced fee from a new client. The attorney deposited the payment into the firm's operating account to address ongoing expenses. Which action best follows professional guidelines?

  • Place the advanced fee in the firm’s operating account if tracked in a ledger

  • Deposit the advanced fee in a dedicated account until that portion is earned

  • The advanced fees are properly deposited into an operating account

  • Use advanced funds for business costs if the final invoice matches the deposit amount

Multistate Professional Responsibility Exam
Safekeeping funds and other property
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