Under WA law, an agent who fails to maintain proper trust account records may face which of the following consequences?
Correct Answer
C) Disciplinary proceedings that may result in fines, suspension, or cancellation of their licence
Failure to maintain proper trust account records is a serious breach under the Real Estate and Business Agents Act 1978 (WA). DMIRS may initiate disciplinary proceedings before the State Administrative Tribunal, which can impose penalties including fines, licence suspension, or cancellation.
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Under the Real Estate and Business Agents Act 1978 (WA), which of the following is a requirement for a sales representative's licence?
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Under WA regulations, an agent's trust account must be audited by a registered auditor within what timeframe after the end of each financial year?