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Which of the following conditions allows a licensee to continue operating pending an appeal?

  1. The licensee has found a new broker

  2. The licensee has filed an appeal

  3. The licensee passed the EofC examination

  4. The licensee's license is under review

The correct answer is: The licensee has filed an appeal

The condition that allows a licensee to continue operating pending an appeal is that the licensee has filed an appeal. Filing an appeal can stay the enforcement of a prior decision regarding the license, which means the licensee is given the opportunity to continue their business activities while the appeal process takes place. This can provide essential stability for the licensee during what can often be a lengthy and complex process. Other options may suggest changes in the licensee's status, such as finding a new broker or passing an examination, but these do not inherently provide the legal basis to operate while an appeal is in progress. Similarly, if a license is under review, it typically implies scrutiny rather than the ability to actively work, as the license status is uncertain. Hence, it is the act of filing the appeal itself that affords the licensee the right to continue operating during the appeal process.