What types of breaches would lead to a disciplinary action in real estate? list two (2) examples.

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1	1.What is the definition of 'Agency'?	new
2	2. Identify two (2) examples of parties common to real estate transactions.	new
3	3. What is an agent's obligation to the vendor?	new
4	4. What is an agent's obligation to the purchaser?	new
5	5. For each of the agency services below, briefly describe what is involved in conducting these services and outline any licensing requirements: Residential sales Residential property management Property management business development Commercial/industrial/retail sales Commercial/industrial/retail property management Auctioneering Buyer's agent Stock and station agent (NSW only) Business broker	new
6	6. Which government body enforces the foundation rules of ethical practice in the real estate industry and how agents deal with the public?	new
7	7. What are the codes of conduct and ethics that apply to ALL people in the real estate profession in your state?	new
8	8. Name two (2) penalties that can be imposed for breaches of the code of conduct and ethics from the previous question:	new
9	9. What types of breaches would lead to a disciplinary action in real estate? List two (2) examples.	new
10	10. What is an agent's obligation regarding honesty, fairness and professionalism?	new
11	11. What is an agent's obligation regarding confidentiality?	new
12	12. The Australian Consumer and Competition Commission (ACCC) governs all states and territories. True or False.	new
13	13.In relation to real estate agents, agencies and transactions, explain the role of the following bodies and regulations: a) Australian Consumer and Competition Commission (ACCC) b) Your state Legislation, e.g. Property, stock and business agents act, Real estate and business agents act, estate agents act, land agents act or property and motor dealers act. c) Your states governing body	new
14	14. Name three (3) possible areas of discrimination / harassment:	new
15	15. Briefly describe three (3) areas of discrimination/harassment. Outline a scenario for each that could occur in a real estate transaction.	new
16	16. A real estate agency contains a lot of confidential information such as commercial records as well as private information. There are 5 points to the Privacy Act surrounding how we collect and store those records. List and describe two of these points.	new
17	17. List three (3) forms of business ownership / structure.	new
18	18. You have a friend who is keen to get a start in real estate and offers to work weekends, free of charge, as your assistant to learn the industry. Explain what you would do and why.	new
19	19. Explain the repercussions of a person performing tasks on behalf of the agency and not holding the necessary licence or certificate.	new
20	20. What are the requirements to hold a: (Select the qualification relevant to your state) Certificate Registration (NSW Only): Agents' Representative Registration (VIC Only): Property Manager Registration (SA Only): Real Estate Salesperson (QLD Only): Restricted Property Management Registration (WA Only):	new
21	21. List two (2) penalties for obtaining a licence or registration for real estate under false pretences.	new
22	22. What are the requirements to hold a Real Estate licence?	new
23	23. Explain regulatory requirements for continuing professional development for Certificate of Registration holders: (If this is not applicable to your state, please answer with your state name, e.g. Victoria)	new
24	24. There are two common law obligations that are placed on agents when dealing with third parties, these are:	new
25	25. What is common law?	new
26	26. What is an agent's ethical obligation to the vendor / landlord under common law?	new
27	27. What does the term 'equity' mean?	new
28	28. What is statute law?	new
29	29. Under Contract Law what are the six (6) essential elements to a valid Contract for Sale? List and briefly describe these.	new
30	30. Whilst you have been away on annual leave, the Principal of the agency has exchanged contracts to personally purchase one of your listings. You do not believe that your vendor is aware of the fact that it is your employer as it has been purchased in a company name and there is no declaration on the file or on the copy of the contract in the file. The cooling off period will expire at 5pm today. a) What is the problem with this scenario? b) What skills will you need to employ to deal with this issue? c) What steps should the principal have taken?	new
31	31. What are the three (3) key principles of Equal Opportunity Employment (EOE)?	new
32	32. Explain the responsibility of a Licensee-in Charge/Principal.	new
33	33. Define 'vicarious liability'.	new
34	34. Which Act and Awards cover real estate wages / commission?	new
35	35. List any four (4) items covered in a Letter of Appointment.	new
36	36. Ensuring safety in the workplace is whose responsibility?	new
37	37. Following safety in the workplace guidelines and protocols is whose responsibility?	new
38	38. Define 'secret commission' and provide an example of this.	new
39	39. If an agent (A)________________that (B)________________________________or creates an (C)_________________when there is (D)_________________, they expose themselves to (E)_______________.	new
40	40. What is the difference between valuation and appraisal?	new
41	41. List and explain any three (3) potential barriers to communication.	new
42	42. A neighbour attends an Open House but complains to your assistant at the door that they do not wish to give their details to be logged on to the Register as they do not wish the vendors to be told of their interest. You need to address their concerns and advise them of their rights and your obligations. What do you do to address their concerns whilst still abiding by legislation and why?	new
43	43. An unhappy customer is at the front reception, loudly lodging a complaint and being unreasonable. There are other members of the public in the same area. What communication skills will you need to employ to solve this issue?	new
44	44. What steps would you take if a customer approaches you to lodge a complaint?	new
45	45. When and how is a foreign investment disclosed?	new
46	46. Define 'Material Fact'.	new
47	47. List five (5) things that are considered material facts and must be disclosed to potential buyers:	new
48	48. With regards to 'Material Fact' list any two (2) professionals that may provide expert advice.	new
49	49. Describe and provide an example of how a business can be an eco-friendly and sustainable environment.

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