Podcast
Questions and Answers
What is one responsibility a broker cannot delegate to another person?
What is one responsibility a broker cannot delegate to another person?
- Designating an office manager
- Overseeing transactions
- Establishing office policies (correct)
- Monitoring compliance with regulations
Which action indicates a broker is failing in their supervisory duties?
Which action indicates a broker is failing in their supervisory duties?
- Periodic inspections of transactions
- Providing sufficient training to agents
- Not monitoring compliance with Regulation 2725 (correct)
- Being present in the office regularly
What happens if a broker does not designate an office manager?
What happens if a broker does not designate an office manager?
- They are fulfilling their responsibilities adequately
- They automatically reduce their liability
- They may face legal consequences (correct)
- They can still supervise agents effectively
How can a broker ensure effective supervision of their agents?
How can a broker ensure effective supervision of their agents?
Which of the following is NOT a way a broker may fail to supervise their agents?
Which of the following is NOT a way a broker may fail to supervise their agents?
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.
