Part 2: Part 2: Estate Agents Ordinance and Estate Agency Practice

Kin-kwok is an estate agent and the sole proprietor of Wang Fat Estate Agency. In the course of his day-to-day estate agency business, he occasionally receives various monies on behalf of or for clients. In order to comply with the relevant provisions of the Estate Agents Ordinance and the Practice Regulations, which of the following must Kin-kwok do in respect of such monies received? (i) Deposit the monies into a trust account opened in the name of the client at an authorised institution (ii) Apply the monies to make payment to the relevant client (iii) Make the appropriate payment in accordance with prior written authorisation instructions provided by the client (iv) Issue a written receipt to the client within fourteen days of receiving the monies (v) Retain a copy of the receipt for at least three years after issuing it

• A(i), (ii), (iii) and (v) only
• B(iii) and (v) only
• C(i) and (iv) only
• D(ii), (iii) and (iv) only
• E(i), (ii), (iii), (iv) and (v)

Where a complaint against a licensee is found to be substantiated, which of the following disciplinary sanctions may the Estate Agents Authority impose on that licensee under the Estate Agents Ordinance? (i) Admonish or reprimand the licensee (ii) Fine the licensee HK$100,000 (iii) Suspend the licensee's licence for three years (iv) Revoke the licensee's licence (v) Attach specified conditions to the licensee's licence

• A(i), (ii), (iv) and (v) only
• B(ii), (iii), (iv) and (v) only
• C(i), (ii), (iii) and (v) only
• D(i), (iii) and (iv) only
• E(i), (ii), (iii), (iv) and (v)

Where the Estate Agents Authority appoints an investigator under s. 28 of the Estate Agents Ordinance to conduct an investigation into a licensee, which of the following constitute statutory obligations of the licensee under investigation? (i) If reasonably required by the investigator, the licensee must produce to the investigator records that the licensee considers relevant to the investigation (ii) The licensee must permit the investigator to enter and search his/her private residence at a reasonable time (iii) If reasonably required by the investigator, the licensee must provide the investigator with an explanation of any documents produced (iv) If required by the Estate Agents Authority, the licensee must pay the Authority the reasonable costs and expenses incurred in connection with the investigation

• A(i) and (ii) only
• B(i) and (iii) only
• C(ii), (iii) and (iv) only
• D(iii) and (iv) only
• E(i), (ii), (iii) and (iv)