Final answer:
The three duties of the licensee to the Designated Broker are acting ethically, complying with laws and regulations, and maintaining proper records and reporting.
Step-by-step explanation:
The three duties of the licensee to the Designated Broker are:
- Acting ethically and in the best interest of clients: Licensees have a fiduciary duty to act in the best interest of their clients, providing them with honest and accurate information.
- Complying with laws and regulations: Licensees must stay updated on the laws and regulations governing the sale of securities and comply with them to ensure fair and lawful practices.
- Maintaining proper records and reporting: Licensees must maintain accurate records of their transactions, including client information and financial records, and report them as required by regulatory authorities.