Agent dividing cut in study (7)
I believe the answer is:
prepare
'study' is the definition.
(preparing is a kind of studying)
'agent dividing cut' is the wordplay.
'agent' becomes 'rep' (short for representative).
'dividing' indicates putting letters inside.
'cut' becomes 'pare' (I've seen this before).
'rep' put within 'pare' is 'PREPARE'.
'in' acts as a link.
(Other definitions for prepare that I've seen before include "Fit out" , "[GET READY] (3 of 3)" , "Make (something) ready" , "study" , "get ready for something new" .)