Final answer:
A corporation facing financial difficulties due to unforeseen circumstances can qualify for a temporary "hardship" broker license.
Step-by-step explanation:
A temporary "hardship" broker license is granted to a corporation facing financial difficulties due to unforeseen circumstances. This temporary license allows the corporation to operate as a broker despite its financial challenges.
For example, if a corporation was hit by a natural disaster, such as a flood or earthquake, and its physical assets were damaged or destroyed, it may qualify for a temporary hardship broker license. Similarly, if a corporation is going through a significant financial crisis due to unforeseen circumstances beyond its control, such as a sudden economic downturn or a major market disruption, it may also be eligible for this temporary license.
This temporary license allows the corporation to continue its brokerage activities and earn income while it works on recovering from the hardships it faced. Once the corporation has sufficiently recovered and is no longer experiencing financial difficulties, it can apply for a regular broker license.