RES exam question on Regulation & the CEA Framework: A newly licensed agency is setting up and registering its salespersons
A newly licensed agency is setting up and registering its salespersons. Which is/are correct? (i) The agency must have a Key Executive Officer, who answers for the proper conduct of its estate agency work and its salespersons. (ii) Anyone may do estate agency work while an application is pending, provided the agency supervises him. (iii) A salesperson applies to CEA directly for his own registration, and attaches himself to an agency afterwards. (iv) CEA supervises the agency and the salesperson separately, so it may discipline either or both for the same transaction.
- A(i) and (iv) only
- B(i), (ii) and (iii) only
- C(ii) and (iii) only
- D(i), (ii), (iii) and (iv)
Show answer & explanation
Answer
A. (i) and (iv) only
Explanation
Issue: how an agency and its salespersons are licensed and supervised. Rule: the estate agent holds the licence and must appoint a Key Executive Officer responsible for its conduct; a salesperson is registered through the agency, which submits the application, and he may not do estate agency work until that registration is granted. CEA regulates both and may act against either. Application: (ii) would let unregistered work proceed, which is an offence, and (iii) reverses the application route. Conclusion: (i) and (iv) are correct.
Study the concept behind this question: Estate Agent Licensing vs Salesperson Registration (CEA)
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