Final answer:
The Designated Broker must review and initial documents prepared by the sales agent licensee for buyers and sellers. The number of days for this review depends on the specific regulations and policies set by the governing body.
Step-by-step explanation:
In the context of real estate transactions, the Designated Broker is responsible for overseeing the work of sales agent licensees. The Designated Broker must review and initial documents prepared by the sales agent licensee for buyers and sellers. The number of days for this review depends on the specific regulations and policies set by the governing body, such as the state real estate commission or board. It is important for the Designated Broker to carefully review these documents to ensure compliance with legal and ethical standards.