Under the Agents Financial Administration Act 2014 (Qld), a real estate agent's trust account must be:
Correct Answer
B) Kept separate from the agent's own money and audited every year
The Agents Financial Administration Act 2014 requires agents to maintain a separate trust account for client funds, keep proper trust account records, and have the trust account audited annually by a qualified auditor.
Why This Is the Correct Answer
The Agents Financial Administration Act 2014 (Qld) requires trust money to be kept in a trust account separate from the agent's own money, and requires the account to be audited by an approved auditor for each yearly audit period.
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