Final answer:
An unlicensed person working for a licensed broker may handle client funds and negotiate mortgage terms, but they cannot execute real estate transactions or provide legal advice to clients.
Step-by-step explanation:
An unlicensed person working for a licensed broker may not execute real estate transactions or provide legal advice to clients. However, they may handle client funds under the supervision of the licensed broker and negotiate mortgage terms. It is important to note that the specific activities an unlicensed person can engage in may vary depending on local laws and regulations.