Where Do End Of Line Resistors Go?

It is very common for alarm installers to put the EOL resistors at the alarm panel terminals, like so:

One installer commented he was taught to do it this way:

"They also installed the EOL's at the panel. When I was introduced to the industry, I was also taught the practice of EOL's at the panel."

This is so commonly done, I am not sure if this is incorrect. Some installers cite the security of installing the EOLR in a locking enclosure is a big benefit.

However, I have been taught the opposite, that installing EOLR at the panel is wrong and defeats the purpose. EOLR are used to provide a known load at the end of the alarm loop that is checked for by the panel. Installing the resistor at the panel only supervises the wiring between the resistor and the panel (nothing at all).

Which way is correct? Vote:

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