Q1. 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?

Q2. 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?

Q3. The licensee is responsible for the security of trust accounts. Discuss four strategies for ensuring the privacy, safety and confidentiality of clients' funds, trust account documents and agency forms?

Q4. Discuss how password security and electronic tracking of transactions assist in the security and maintenance of the trust accounts?

Q5. Explain how long an agent is required to keep trust account records? Include the correct section from the Property and Stock Agent Regulations 2014?