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Questions and Answers
What is one responsibility a broker cannot delegate to another person?
Which action indicates a broker is failing in their supervisory duties?
What happens if a broker does not designate an office manager?
How can a broker ensure effective supervision of their agents?
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Which of the following is NOT a way a broker may fail to supervise their agents?
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Study Notes
Broker Responsibilities
- Brokers are required to establish policies, rules, procedures, or systems to review, oversee, inspect, and manage transactions.
- Brokers must monitor compliance with Regulation 2725, which mandates reasonable supervision across the brokerage.
- Brokers must designate an office manager and oversee their activities.
- Brokers should be present in the office regularly.
- Brokers are responsible for the authorized acts of their sales agents.
- Brokers may delegate the responsibility of supervising sales agents to someone with the required experience and expertise.
- Brokers are responsible for all the activities their agents carry out within the course and scope of their employment.
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Description
This quiz covers the essential responsibilities of brokers, including their obligation to oversee transactions and ensure compliance with Regulation 2725. It emphasizes the importance of monitoring sales agents and designating an office manager. Test your understanding of the supervisory duties and authorized acts related to brokerage activities.
