3. A licensee terminates his affiliation with a brokerage firm and secures his signed release form on August 15. On August 30, the licensee completes the change of affiliation form and mails it, via certified mail, to the Commission. Did the licensee follow CORRECT procedure?
Answer: C
No. The licensee should have mailed the change of affiliation form earlier, with the proper fee, so that it would have been received by the Commission by August 25.
The licensee did not follow the correct procedure because he mailed the change of affiliation form on August 30, which did not allow sufficient time for the Commission to receive it by the required date of August 25.
A) No. The principal broker should have been the one to complete the change of affiliation form and to submit the same to the Commission.
This option is incorrect as it misplaces the responsibility of submitting the change of affiliation form. While the principal broker may assist in the process, it is ultimately the licensee's responsibility to ensure that the form is submitted in a timely manner.
B) No. The licensee should have verbally notified the Commission of the termination the same day it occurred.
This option is also incorrect. While timely communication is important, the requirement is for the licensee to submit the formal change of affiliation form by the stipulated deadline, rather than just providing a verbal notification.
C) No. The licensee should have mailed the change of affiliation form earlier, with the proper fee, so that it would have been received by the Commission by August 25.
This option is correct. The licensee failed to mail the change of affiliation form in a timely manner, resulting in the form not being received by the Commission by the necessary date, which is crucial for proper protocol.
D) Yes. The licensee followed the correct procedure for change of affiliation.
This option is incorrect as the licensee did not adhere to the deadlines required by the Commission. Submitting the form late does not fulfill the procedural requirements for a change of affiliation.
Conclusion
The correct answer is option C, as it highlights the importance of adhering to submission deadlines for official documents to the Commission. The other options fail to recognize the critical nature of timely submission and communication, thereby affirming that the licensee did not follow the proper procedure.