Regulatory Compliance

Which document is NOT typically acceptable as primary identification for customer due diligence under the AML/CFT Act?

A real estate agent receives a $25,000 deposit from a buyer who appears nervous and provides inconsistent information about their employment. What should the agent do under AML/CFT requirements?

An overseas client wants to buy a $2.8 million property, with the funds arriving in several international transfers from different countries and no clear reason for the split. Under the AML/CFT Act, what level of due diligence is required?

A real estate agency discovers that a client's identity documents appear to be fraudulent during the customer due diligence process. What is the most appropriate action under AML/CFT requirements?

A client purchasing a $2.5 million property through a family trust structure involves multiple overseas entities and requests unusual payment arrangements. Under AML/CFT requirements, what level of due diligence is required?

A client provides a bank cheque for $30,000 as a deposit and mentions recently selling cryptocurrency to fund the purchase. Under AML/CFT requirements, what is the appropriate next step?

How long must real estate agencies retain AML/CFT compliance records after a business relationship ends?

Under the AML/CFT regime, from what amount must a physical cash transaction through a real estate agency be reported to the Financial Intelligence Unit as a prescribed transaction?

Under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009, what is the minimum threshold for conducting customer due diligence when establishing a business relationship in real estate transactions?

A real estate agent receives a $50,000 deposit from a buyer who requests to pay in cash using multiple $9,500 installments over several days. What should the agent do under AML requirements?

An international client buying a $2.8 million commercial property provides a copy of their overseas passport but refuses any further identity checks or information, claiming diplomatic immunity. How should the agent proceed under AML/CFT requirements?

A real estate agency receives multiple cash deposits totaling $18,000 from the same client over three separate transactions within two weeks. Under AML/CFT requirements, how should this be treated?

A real estate agency discovers that a client involved in a $2 million property transaction may have links to money laundering activities. Under the AML/CFT Act 2009, what is the agency's primary obligation?

A real estate agent receives a $20,000 deposit from a client who insists on paying in cash and requests the transaction be processed immediately without standard verification. What should the agent do under AML/CFT requirements?

A real estate agency discovers that a client may be involved in money laundering. Under the AML/CFT Act, what action should the agency take?

Which scenario would most likely require a suspicious activity report under the AML/CFT Act 2009?

An agency's compliance officer, who wrote its AML/CFT programme, offers to carry out the agency's independent AML/CFT audit. Under s 59B of the AML/CFT Act 2009 and DIA's current audit guidance, what is correct?

A salesperson says the Real Estate Authority supervises agencies' anti-money laundering compliance. Which agency is the AML/CFT supervisor for real estate agents as at September 2026?

A small agency wants to make its most junior administrator its AML/CFT compliance officer, reporting to no one in particular. Under s 56 of the AML/CFT Act 2009, what is required?

A new agency is setting up its AML/CFT compliance. Under s 58 of the AML/CFT Act 2009, what must it complete before it conducts customer due diligence or establishes its AML/CFT programme?

At an auction a successful bidder, whom the agency does not act for, hands the agency $15,000 in banknotes toward the deposit. How does reg 5B of the AML/CFT (Definitions) Regulations 2011 treat this bidder?

An agency is listing a vendor's home. A buyer, whom the agency does not act for, pays the deposit by bank transfer to the buyer's lawyer. Under reg 5B of the AML/CFT (Definitions) Regulations 2011, who is the agency's customer for due diligence?

A family trust instructs an agency to sell a rental it owns. Nothing else about the trust seems unusual. Under s 22 of the AML/CFT Act 2009, what level of customer due diligence does the Act direct?

During onboarding, an agency learns that its new vendor client is a senior official of a foreign government. Under s 22(2) of the AML/CFT Act 2009, what must the agency do?

A purchaser pays the agency a $12,000 deposit in banknotes, which the agency banks into its trust account. Nothing about the payment seems suspicious. What reporting obligation arises under s 48A of the AML/CFT Act 2009?

An agency filed a suspicious activity report about a listing in March 2026. The listing was later withdrawn. Under s 49A of the AML/CFT Act 2009, how long must the agency keep its copy of that report?

After an agency files a suspicious activity report about a vendor, the vendor phones the salesperson and asks whether the agency has "reported me to anyone". Under s 46 of the AML/CFT Act 2009, what must the salesperson do?

On Monday an agency's compliance officer forms a suspicion that a vendor's sale is linked to laundering. Under s 40 of the AML/CFT Act 2009, by when must the agency report it to the Police Commissioner (the Financial Intelligence Unit)?

Under the Consumer Guarantees Act, if a real estate agent provides a service that fails to meet professional standards, what is the client's primary remedy?

Under the Fair Trading Act 1986, which situation would most likely give a buyer a claim against the listing agent?

Under the Consumer Guarantees Act 1993, when can a real estate agency validly contract out of the Act's guarantees for its services?

Under the Fair Trading Act 1986, a buyer suffers loss because the listing agent concealed a known defect. What is the buyer's most likely remedy?

What is the primary purpose of the Consumer Guarantees Act 1993 in relation to real estate services?

Under the Consumer Guarantees Act 1993, if a real estate agent fails to exercise reasonable care and skill when marketing a property, what remedy might be available to the client?

When does the Consumer Guarantees Act 1993 typically apply to real estate transactions?

A real estate advertisement states 'Best value in the area' without any supporting evidence. Under the Fair Trading Act, this statement is:

Under the Fair Trading Act 1986, which statement about advertising a property for sale is correct?

A real estate agent advertises a property as having a 'new roof' when they know it was repaired but not replaced. A buyer purchases based on this information and later discovers the truth. Which Acts could potentially apply to this situation?

A property advertisement states 'Guaranteed rental return of 8% per annum', although no one has contracted to pay that return. Under the Fair Trading Act 1986, this statement is:

Which Act primarily governs misleading advertising in real estate marketing?

An agent advertises a property as 'walking distance to the beach' when it is actually a 45-minute walk. Under the Fair Trading Act, this could be considered:

A property developer approaches an agent with a proposal to pay higher than usual commission rates in exchange for prioritizing their properties and providing favorable comparisons to competing developments. How should this be evaluated under the Fair Trading Act and professional obligations?

Under the Fair Trading Act 1986, which statement about advertising property prices is correct?

Under the Fair Trading Act 1986, which of the following would constitute misleading conduct by a real estate agent?

Under the Fair Trading Act 1986, which practice would constitute misleading conduct in real estate advertising?

At an auction with a reserve, the auctioneer makes several bids on the vendor's behalf without announcing them as vendor bids, and the property passes in. Under s 14A of the Fair Trading Act 1986, what is the position?

A listing advertisement says a suburb's values "will rise 20% in the next two years". The salesperson had no data or research behind the claim, and values later did rise. Under s 12A of the Fair Trading Act 1986, is the advertisement lawful?

A salesperson's laptop, holding unencrypted copies of clients' passports and bank details, is stolen from a car. The agency believes serious harm to those clients is likely. Under the Privacy Act 2020, what must the agency do?

In June 2026 a property manager obtains a prospective tenant's past rental history from a former landlord, not from the applicant. Under information privacy principle 3A of the Privacy Act 2020, what must the property manager generally do?

An agent pays one of the agency's own supplier invoices from the trust account, meaning to repay it when commission arrives in three days. Which compliance breach has occurred?

Which of the following trust account reconciliation requirements is correct under New Zealand real estate regulations?

A vendor asks the agency to release the buyer's deposit to her two days after it was paid in, because she needs it for her next purchase. The buyer has not agreed. Under s 123 of the Real Estate Agents Act 2008, what must the agency do?

Which statement best describes the primary purpose of trust accounts in real estate transactions?

It is the end of May. Under reg 15 of the Real Estate Agents (Audit) Regulations 2009, what must the agency do about its trust accounts, and by when must it send the results to its auditor?

A real estate agency's trust account shows a shortage of $5,000 during a routine audit. What is the most serious disciplinary order available under the Real Estate Agents Act 2008?

According to trust account regulations, how long must real estate agencies retain records of trust account transactions?

An agency's trust account reconciliation reveals that interest earned on client deposits has been retained by the agency rather than distributed to clients. This practice is:

Which statement best describes the trust account requirements under the Real Estate Agents Act 2008?

An agency received a deposit on 1 June and the vendor has not asked for any statement. Under s 124 of the Real Estate Agents Act 2008, when must the agency give the person entitled a written account of the money?

An agent holds $180,000 in trust across four transactions. One agreement is validly cancelled because the purchaser's finance condition was not met, and both parties' lawyers confirm the $60,000 deposit is to be refunded to the purchaser. What is the correct trust account procedure?

Twelve working days after receiving a deposit, an agency gets a letter from the buyer's lawyer raising a written requisition on the title. The vendor wants the deposit released. Under s 123(3) of the Real Estate Agents Act 2008, what applies?

An agency's trust account bank offers to set off an overdue overdraft on the agency's business account against the trust account. Under reg 5 of the Real Estate Agents (Audit) Regulations 2009, what should already have been put in place?

A buyer pays a $2,000 holding deposit in cash at the agency's front desk. Under reg 7 of the Real Estate Agents (Audit) Regulations 2009, what must the agency do?

Which of the following is a key requirement for operating a real estate trust account under New Zealand regulations?

An agency's trust account is found to be $5,000 short during an annual audit. What is the most likely immediate consequence?

Which scenario would constitute a breach of trust account regulations?

A real estate agency's trust account reconciliation reveals a shortage of $5,000 that cannot be immediately explained. What should the agency do?