Crucial Exams

Multistate Professional Responsibility Exam Practice Question

An attorney starts a new practice and plans to hold advance payments from clients for upcoming services. The attorney wonders how to maintain these payments. Which approach is best?

  • Maintain the advance payments in a personal account and track deposits with a separate ledger

  • Place the advance payments in a business account or trust account

  • Open a dedicated trust account, separate from any personal and business funds, and record each client's payments in detailed ledgers

  • Place the client payments in the lawyer's general business account, keeping track of amounts through individual entries

Multistate Professional Responsibility Exam
Safekeeping funds and other property
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