Which of the following statements are covered by the Code of Ethics for conducting estate agency work?

I. Estate agents and salespersons must fully understand in its entirety all legislation and requirements relevant to their course of practice.
II. Estate agents and salespersons are demanded not to be involved in activities that are against the law.
III. Estate agents and salespersons must not be involved in explaining to the clients about the details of the agreements. Instead such should be referred directly to legal counsel.
IV. Estate agents and salespersons must at all times perform their duties and responsibilities with required professional knowledge and competence.
V. Estate agents and salespersons should not act as both the vendor and the purchaser.

What will be the consequences if a licensee does not comply with the Code of Ethics?

I. The licensee can reapply after the revocation of his license after committing a violation of the code of ethics.
II. The licensee will be not acknowledge as being a fit and proper person to hold a license under the EAO.
III. The licensee may be given the disciplinary action applicable to the offense incurred.
IV. The licensee will be given another chance after committing such violations.
V. The licensee’s license may be revoked or refused.

Which of the following statements refers to one of the Code of Ethics which is a good understanding of related legislation and requirements?

I. Estate agents and salespersons should refrain from involving in any agreements in which they have beneficial interests.
II. Estate agents and salespersons must fully understand with the EAO and all other related guidelines in performing their work.
III. Estate agents and salesperson must ensure that they keep themselves updated with all the developments in the real estate market including changes in the laws and government regulations.
IV. Estate agents and salespersons must do their work with care and adequate diligence.
V. Estate agents and salespersons should endeavor that the services they provide to clients are based on the knowledge, training, qualifications, and experience in the real estate business.

Identify which of the statements are applicable to all licenses.

I. A licensee can only be engaged in estate work if he has a valid license issued by EAA.
II. A licensee is demanded to use only the name indicated in his license in performing his work.
III. A licensee is not required to inform EAA if there are any changes in his registered address.
IV. In any event of inquiry or investigation, a licensee is required to provide accurate statements.
V. If a licensee’s license is lost, stolen, or maybe damaged, the licensee has at least 1 year to request for a replacement.

Which should be include by a licensed estate agent when creating advertisements and in any documents such as receipts or brochures?

I. License numbers and names of all its directors.
II. Social media accounts used to represent the licensed estate agent.
III. The number of years the licensed estate agent has been doing the work.
IV. License number and business name that is indicated in the statement of particulars of a business.
V. Location of the business that is indicated in the statement of particulars of business except for advertisements that are not in the form of brochure or pamphlet.

Which of the following events wherein there is no form prescribed for the purposes of the EAO?

I. When a property that is for lease is not a self-contained unit.
II. When a residential property forms part of the first sale of a share in a land that is undivided.
III. When a license estate agent is acting for purchase in purchasing a property.
IV. When a car parking space only is for sale and purchase or for lease.
V. When a license estate agent is acting for a landlord in the leasing of a property.

Which of the following must complied by all companies holding an estate agent’s license?

I. It is permitted to operate as long as one of its directors has a valid estate agent’s license issued by the EAA.
II. A valid estate agent’s license issued by the EAA is not required from its directors as long as the owner has such a valid license.
III. It should have at least one director who is a holder of a valid estate agent’s license issued by the EAA.
IV. If it has more than one director, all of its directors must as well have a valid estate agent’s license issued by the EAA.
V. All of its directors complied with section 20(3) of the EAO and thus are fit and proper person.

Which of the following statements are expected to be acted upon by all licensees when handling the sale and purchase or the leasing of residential properties in Hong Kong?

I. It is not required for a salesperson to notify the client that he has a valid license as long as his employer has a valid license.
II. The licensee must make sure that provisions in the PR in handling such situations are strictly complied with.
III. A licensed salesperson must provide his license number to the client before proceeding with the transaction to notify the client that he is indeed a licensed salesperson.
IV. A salesperson is not allowed to handle any form of transactions related to residential properties.
V. A client must be informed by a licensed estate agent that he is a licensed estate agent and provide his license number before conducting any transactions.

Which of the following events wherein forms are required to be completed?

I. In acting for a vendor when a property is sold.
II. When acting for a tenant in the leasing of the property where the landlord is not represented by any estate agent.
III. When an undivided share in land wherein a residential forms part is first sold.
IV. When acting for the purchaser in the purchase of a property.
V. When a property for lease is not a self-contained unit.

When a licensed estate agent enters into any estate agency agreement in relation to any property, he should:

I. Form 1 must be completed in for sale and purchase and Form 2 for leasing if he is acting as a vendor.
II. Inform both the vendor and the purchaser if he is acting as both.
III. Make sure that the client is aware of any beneficial interests such as commissions that he may get in this agreement.
IV. Require the client to get legal representation before completing the forms.
V. Inform the vendor of each offer received only when it is convenient for him.

Which of the following events that a licensed estate agent should only enter into estate agency agreements?

I. Prior to the negotiation of the amount of the property with the vendor.
II. Only after the signing of the agreement for the sale and purchase or lease of the property.
III. Within seven working days from acceptance to sell or lease a property from the vendor.
IV. Before the advertisement for the property.
V. Before the agreement for the sale and purchase or a lease has been signed.

Kevin is interested to purchase a property that he saw from an advertisement. So, he made a call and contacted the licensed estate agent, what should the licensed estate agent do before entering into an agreement with such purchaser?

I. Prior to the advertising of the property.
II. An agreement should be done before the arrangement of inspection of the property by the purchaser.
III. After the purchase has viewed or inspected the property.
IV. After the signing of the agreement for the sale and purchase and or a lease of the property with the purchaser.
V. The agreement must be done only before the agreement for sale and purchase and or a lease of the property has been signed.

When a client is not legally represented in an estate agency agreement, what should be the action of any licensee?

I. The licensee is not allowed to enter any agreement if the client does not have legal representation.
II. The licensee should not explain the agreement to the client, instead inform the client to seek legal advice.
III. The licensee should make sure that the client understands the implications and effects of the different types of agency appointments stated in the agreement.
IV. The licensee must explain to the client the terms and conditions in the agreement and must make certain that the client is aware of his rights and obligations.
V. After explaining to the client the agreement, the licensee must recommend seeking legal advice if the client has some confusion in the agreement.

If a licensee personally presented an unexecuted estate agency agreement for signature by a client and the document has been signed and is now an executed estate agency agreement. What should a licensee do?

I. A licensed estate agent cannot personally present an unexecuted estate agency agreement.
II. A licensed estate agent should give the client a copy of the executed estate agency agreement only and does not need to provide the related documents.
III. A licensed estate agent without any delays gives a copy of the executed agreement within seven days after the execution of the agreement to the client.
IV. A licensed estate agent should give as well all documents related to the agreement to the client.
V. A licensed estate agent should only give the client a copy of the executed estate agency agreement after the advertisement of the property.

Which of the following statements is CORRECT for a licensee when seeking instructions?

I. A license may submit to a sub-listing agent the information of property without prior consent from the vendor as long as it is beneficial to the vendor.
II. A licensee is demanded to provide accurate and not misleading information to the client in relation to any property.
III. A licensee is not allowed to submit to a sub-listing agent any other information or property of the vendor without the approval of the vendor.
IV. A licensee should keep a record of at least one year of all listings of properties and estate agency agreements entered.
V. A licensee may pursue instruction from a vendor even if it under exclusive agency granted to another licensed agent upon the instruction of a purchaser.

In terms of advertising a property, which of the following should a licensed estate agent consider?

Sam is a salesperson employed by a licensed estate agent just received money from his client. What should Sam do in such an event?

Sally is a licensed estate agent and has decided to stop engaging in estate agency work due to health reasons. What should be the proper course of action of Sally for her decision?

A licensee has received two jobs offers as a salesperson from different employers. What should a licensee consider as a priority in choosing from the two job offers among other factors?

When completing forms required in conducting estate agency related work, who’s responsibility is it in making sure that the information obtained is accurate?

What should a licensee do before the signing of an agreement for sale and purchase or a lease of a property?

When a licensee receives an offer for a property, what is the proper action of a licensee related to this event?

If an agreement for sale and purchase or a lease of a property has been signed, what should a licensee do?

A licensee should take all applicable measures to make sure that the vendor provides proper identification. Which of the following should be done the licensee if the vendor is an individual?

What should be done by a licensed estate agent upon receiving any commission from a client?

In situations where a licensed estate agent does not receive any money or held money on behalf of its clients during a financial year, what should the agent do?

What should a licensed estate agent do if the identity of the vendor and of the owner of the property is different?

What should a licensed estate agent do if deposit money has been made for a property but is not accepted by the vendor?

Which is true for all licensed estate agents carrying on the business of estate agency work?

What should a company holding an estate agent’s license do upon appointment or termination of its director?