Question

Which of the following is obligated to obtain a broker's bond?

A. Corporate broker licensees, partnership broker licensees, and individual broker licensees
B. Only resident principal broker
C. Associate, managing and principal brokers
D. Both resident and non-resident principal and managing broker

Answer 1

A broker's bond is required for corporate, partnership, and individual broker licensees to ensure ethical and responsible operations.

Step-by-step explanation:

A broker's bond is an insurance policy that protects customers and clients against financial losses caused by improper actions of a broker. In the context of this question, the answer is A: Corporate broker licensees, partnership broker licensees, and individual broker licensees are all obligated to obtain a broker's bond. This requirement ensures that brokers operate ethically and responsibly.