Various terms and procedures apply to commission plans and the division of commission estate brokerage with that in mind, which of the following is a correct statement? In a desk fee plan, the commission split between brokerage and salesperson is normally 50/50. and the brokerage normally pays most of the expenses for the salesperson the commission plan offered by a real estate brokerage is determined by the rules and regulations of the local real estate board in a conventional commission plan, the commission split to a salesperson usually decreases with a higher volume of sales. The policy of the brokerage normally determines the allocation between the listing and selling portion of the commission. One of the responsibilities of RECO is to ensure that registrants comply with the REBBA 2002 Code of Ethics. Which of the following statements best describes the compliance process as applied by RECO? If RECO determines that a consumer complaint is valid, RECO must either terminate the salesperson's registration or impose a fine of up to $50,000. The Registrar has several options including a requirement for registrants to take further educational courses. All complaints from a buyer or seller result in a hearing before the RECO Discipline Committee. Since the Code of Ethics is not mandatory, registrants who do not comply with the Code are given a written warning from the Registrar. Which one of the following individuals must be registered under the Real Estate and Business Brokers Act, 2002 to carry out duties as described below? A solicitor where the trade is made in the normal course of the solicitor providing legal services. A person who is employed full-time and is paid a salary to sell a builder's new home to a buyer. A person in the business of arranging leases that are not regulated by the Residential Tenancies Act, 2006. An auctioneer where the trade is made in the normal course of the duties as auctioneer. Which of the following statements best describes the use of the primary economic indicators by economists? Government spending is the main economic indicator used by economists. The Canadian economy is too complex to be able to provide any meaningful statistical information Practically all economic indicators used by economists consist of statistics tracking consumer spending Economists rely on economic indicators to measure the cyclical flow of goods and services in the economy