Please answer it based on Australian capital territory

1.Explain the purpose of trust accounts in real estate.

2.Provide 3 (three) examples of different types of trust money a real estate agent might deal with.

3.Explain the difference between trust account money and general business trading money.

4.What is the name of the legislation that regulates trust accounting in real estate in the ACT?

5.Go to the Agents Act 2003 Section 107 (6).

• Provide the title of this section number 107.

AND

• Copy and paste the full content of the section 107 (6) to your answer.

6.Which authority regulates the trust accounting requirements for real estate agents in the ACT?

7.Describe the impact that an agent's breach of trust account processes/fraudulent activity might have on client confidence and a real estate agency's brand.

8.Describe the process an agency must go through to open a trust account.

9.What are the legislative requirements with regards to receipting and banking trust account money?

10.What is the agency licensee-in-charge required to do where a trust account is overdrawn?

11.Describe 1 (one) way that an agent can make sure that they maintain the integrity, security, confidentiality and privacy with regards to trust accounts held by their agency.