Try five original RES questions.

A listed retail REIT pools investors' money to hold a portfolio of income-generating retail properties. The assets are professionally managed, income is generally derived principally from rent, and listed units can ordinarily be bought and sold through a broker. This gives Mei indirect, portfolio-level real-estate exposure without directly owning or managing one property.

CEA describes property agents as facilitating transactions and advising their clients. Advertising with consent, arranging viewings and conveying offers are activities carried out for the owner. They do not make the agent the landlord granting the tenancy or the tenant taking it. Nor is this the housing-development role of constructing and selling housing units described by MOF. The owner and successful applicant remain the transaction principals; the agent is the intermediary.

The fee-simple estate is an estate in land, whereas the chairs are expressly stated to remain movable chattels and are personal property. The bank holds a lesser proprietary interest as security, not the company's ownership estate by virtue of the mortgage. Section 68(3) of the Land Titles Act states that a mortgage does not operate as a transfer of the land but has effect as security only. The location of the chairs inside the office does not override the stated fact that they remain chattels.

CEA states that it was established under the EAA to regulate and develop the real estate agency industry. Its mission combines raising professionalism with safeguarding consumer interests. The EAA's ethical and professional requirements give effect to that purpose. Protecting agencies from competition, guaranteeing investment profits and replacing solicitors are not the rationale described by CEA.

HDB's e-Resale notes distinguish two milestones: buyers must have a valid HFE letter before the seller grants the OTP, and buyers intending to use a bank loan must have the bank's Letter of Offer before exercising it. The buyers have passed the first milestone but have not yet met the bank-loan prerequisite for the second. They should obtain the Letter of Offer before exercising within the option period. Neither the HFE letter nor a resale application substitutes for the bank's offer.