Question

Which of these is the best example of a procedure?

a. Accounting may not issue commission checks until agents submit a completed transaction file.

b. Complete transaction files by ensuring that all documents are properly signed and then uploading them to the firm's file management application.

c. Licensees must enter new listings into the MLS within 48 hours.

d. The managing broker must verify that all advertising and marketing materials meet advertising requirements.

Answer 1

Option b is the correct answer. The best example of a procedure is completing transaction files by ensuring proper signatures and uploading them to the file management application.

Step-by-step explanation:

b. Complete transaction files by ensuring that all documents are properly signed and then uploading them to the firm's file management application.

A procedure is a set of established steps or actions that need to be followed in order to achieve a specific goal or outcome. In this example, completing transaction files by ensuring proper signatures and uploading them to the file management application is a clear and specific procedure.

For example, in an accounting firm, there may be a procedure in place that requires agents to submit completed transaction files before commission checks are issued. This ensures that all necessary documentation is accounted for and that the files are properly organized.