Hong Kong Salespersons Qualifying Examination (SQE) flashcards
Hong Kong Salespersons Qualifying Examination (SQE) · Build recall with a focused review session.
20 cards. Read the term and the definition here. The deck at the top of this page is optional.
- Principal
- The person on whose behalf an agent is authorized to act, with the scope of authority determined by the actual arrangement.
- Agent
- A person acting for a principal within relevant authority, whose duties are not eliminated by an opportunity to earn commission.
- Salesperson
- A person working within the relevant Hong Kong estate agency licensing framework, distinguished from assuming the authority of every other license category.
- Estate agency agreement
- The instrument recording the agency relationship and relevant terms, distinguished from a contract transferring ownership or granting a tenancy.
- Actual authority
- Authority arising from the principal actual authorization, whose scope must be established rather than inferred from every request by a customer.
- Conflict of interest
- A situation in which personal interests or competing responsibilities may affect professional judgment and require the applicable disclosure and management process.
- Material representation
- A statement relevant to a transaction decision, whose accuracy and supporting basis should be checked rather than replaced with an unsupported assurance.
- Land search
- An examination of the relevant registered property information, which must be interpreted for its scope rather than treated as a complete building inspection.
- Encumbrance
- A relevant burden or interest affecting property, whose existence and legal effect must be established from the actual documents and framework.
- Government lease
- An instrument relevant to the landholding framework and its conditions, distinguished from an assumption of unrestricted foreign-style freehold ownership.
- Saleable area
- A defined property area measure whose actual basis must be identified, rather than substituted silently for every other advertised area figure.
- Preliminary agreement
- An initial transaction instrument whose actual terms and legal effect matter, rather than a document that can always be ignored without consequence.
- Formal agreement
- A more detailed transaction instrument whose conditions must be read, rather than assumed identical to every earlier advertisement or oral discussion.
- Deposit
- Money paid for the relevant transaction purpose under its actual conditions, distinguished from an agent commission or unrestricted personal funds.
- Commission
- Remuneration under the relevant agency arrangement and conditions, which does not itself confer ownership or unlimited authority over the property.
- Completion
- The transaction stage governed by the actual agreement and applicable law, distinguished from merely advertising a property or obtaining an initial expression of interest.
- Tenancy
- An arrangement requiring examination of the actual possession rights, agreement and legal framework, rather than a label conclusively established by one isolated word.
- Deed of mutual covenant
- An instrument relevant to rights and responsibilities in a multi-unit development, distinguished from an individual agency agreement or advertisement.
- Owners corporation
- A body within the relevant building management framework, whose role is distinct from assuming personal ownership of every individual unit.
- Audit trail
- An intelligible record of instructions, disclosures and actions that supports later review without replacing missing authority or making a false statement true.