-In Australia

1) Outline the different types of real estate trust accounts used by agents. Explain the purpose of real estate trust accounts. (words: 100-120)

2) Outline the personal obligations and responsibilities of the licensee for the administration of real estate trust accounts. Refer to the act and regulation and Supervision Guidelines for NSW in your answer. (words: 25-30)

3) Explain the likely consequences to the agency's reputation (branding) for breaches of the trust account practises or fraudulent activity, particularly if found guilty of a breach of the Act or Regulation. Discuss the impact that this could have on consumer confidence? (words: 70-80)

4) Outline the maximum penalty for not paying trust monies collected on behalf of a client into the trust account according to the Property and Stock Agents Act 2002 (NSW) (words: 20 - 30)

5) Explain how long an agent is required to keep trust account records? Include the correct section from the Property and Stock Agent Regulations 2014 (NSW). (words: 40-55)