PDE5 Practice Questions - South Africa PPRA Professional Designation Examination Level 5 (PDE5) Exam

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Under the Property Practitioners Act 22 of 2019, what is the consequence for a property practitioner firm if any of its directors or members are disqualified from holding a Fidelity Fund Certificate (FFC)?

The PPRA may refuse to issue or may withdraw the Fidelity Fund Certificate (FFC) of the business entity itself Only the disqualified director is prohibited from practicing, while the firm's FFC remains unaffected The firm is given a mandatory two-year grace period to replace the disqualified director before any action is taken The firm will only be fined but will not face FFC withdrawal

Correct Answer:

The PPRA may refuse to issue or may withdraw the Fidelity Fund Certificate (FFC) of the business entity itself

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