Series 52: Escrow Account

Taken from our MSRB Municipal Securities Representative Qualification Examination

Definition of the term Escrow Account...

an account in which funds are held by a third party (the escrow agent), but the funds do not belong to this party. The escrow account provides a safe place to park funds until they are paid out for a designated purpose.

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Solomon Exam Prep Study Materials for the Series 52
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