In New South Wales Which of the Following Statements Is

In New South Wales which of the following statements is not true in relation to the exchange of contracts stage of the conveyancing process?

A) The exchange creates an enforceable contact and gives the purchaser an equitable interest in the land.
B) A real estate agent may exchange contracts for the sale of a residential property if they have been authorised by a contracting party or that party's conveyancer.
C) The purchaser usually signs two copies of the contract.One copy is handed to the vendor and the purchaser retains the other copy.
D) The purchaser pays a deposit which is usually held in the trust account of the vendor's agent or invested until the settlement.