In country Australia.

1) Examine theProperty and Stock Agents Act 2002(NSW)and list the number and name of 10 sections of the Act that apply to trust accounting. (220-250)

2) Examine theProperty and Stock Agents Regulation 2014 (NSW)and list the number and name of 10 clauses that apply to trust accounting.(150 - 170)

3) (a) Explain the purpose of trust accounts in real estate operations. Address the following areas in your explanation:

• What is a trust account? (20-30)
• Why must we have separate accounts for property sales and property management?(20-30)
• Why can we not put that money in our general account? (30-50)

3) (b) What is the difference between sales trust money, property management trust money and general business trading money? Provide two examples for each type of trust money to support your analysis. (150 - 200)