Certificate of Registration Assessment: Real Estate Industry

This document presents a completed assessment for the Certificate of Registration in the real estate industry. The assessment covers several units, including working in the real estate industry, identifying legal and ethical requirements of property sales and management, and communicating with clients. The assessment is divided into three parts: short answer questions, extended answer questions, and workplace situation activities. The short answer questions cover topics such as the roles and responsibilities of various agencies (ACCC, REINSW, NSW Fair Trading, ASIC, and Tenants NSW), different types of tenancies (residential and retail), relevant legislation, property manager responsibilities to landlords and tenants, processes for terminating a tenancy agreement, rent receipts, end-of-month statements, and the documents needed to promote a property for sale. It also covers the key differences between Joint Tenants and Tenants in Common. The student's responses demonstrate an understanding of the legal and practical aspects of real estate operations.

CERTIFICATE OF REGISTRATION ASSESSMENT
CPPDSM4080A Work in the real estate industry
CPPDSM4008A Identify legal and ethical requirements of property sales
CPPDSM4007A Identify legal and ethical requirements of property management
CPPDSM3019B Communicate with clients as part of agency operations
LEARNER DECLARATION Indicate with Y
for Yes or N for
No
I hereby submit these assessment tasks for the units listed above and certify
 that all work contained therein has been completed by me
 that no part thereof has been completed or copied from any other
person
 I have referenced and/or acknowledged all necessary authors
 I have kept a copy of my assessments
 I will resubmit at my own cost and time in the event I do not keep a
copy of my assessment
 I understand that will provide my employer upon request,
access to my training records and results (where the employer is
funding this learning)
 I understand that federal and state agencies have the right to access
any of my assessment materials for auditing and monitoring
purposes
 I consent that may use my de-identified assessment for internal
moderation and validation purposes
 I understand that if a third party requests my results that will only
do so with my written permission
Learner Full Name (print)
Unique Student Identifier
Contact Number
Home Address
Learner Signature Date
LEARNER DECLARATION PART 2 Indicate
with
Y for Yes or
N for NO
1. I have read the Student Handbook
2. I will keep my documents safe and secure at all times
3. I will answer all questions using the Learner Guide and/or Information
as referenced.
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4. Where necessary, I have attached supporting documents which are
clearly identified in line with the specific question.
5. Where required, I have completed any agreements, forms and
contracts required for this assessment. I have done so in FULL and
understand that partial completion will not be accepted.
6. I have read, dated and signed the Student Declaration at the front of
this Assessment.
7. I have retained a copy of my completed Assessment and any written
submissions.
8. I will upload the assessment to the portal as instructed.
Your Results
• If your assessment is found to be not competent, you will be provided with
clear feedback on what additional information is required via the student
assessment record form and/or verbally.
• To check the progress of your assessment, you are welcome to call (02) 9264
2343.
e
Assessment Information
Assessment for this unit covers the elements and performance criteria for the unit of
competency:
CPPDSM4080A Work in the real estate industry
CPPDSM4008A Identify legal and ethical requirements of property sales
CPPDSM4007A Identify legal and ethical requirements of property management
CPPDSM3019B Communicate with clients as part of agency operations
These units, form part of the CPP30211 Certificate III in Property Services (Agency) and
CPP40307 Certificate IV in Property Services (Real Estate) under the Australian
Qualification Framework and;
• Licensing under NSW Fair Trading.
Assessment structure
• Part A – Short Answer Questions
• Part B – Extended Answer Questions
• Part C – Workplace Situation Activities
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Performance Criteria and Elements
Every assessment for a Unit of Competency within the Australian Quality Framework
(AQF) is structured around Performance Criteria and Elements. To access the
performance criteria and elements go to www.training.gov.au and search for unit
code:
recognises the individual needs of each learner and will provide reasonable
adjustment when required.
To complete this assessment, type your answers where you see the insertion
symbol.
You have limited formatting options.
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PART A – SHORT ANSWER QUESTIONS
For questions in Part A, you will need to provide answers that
directly address the question, you may answer in point form. Ensure
that you answer all parts of the question.
Question 1 Research and explain the roles and responsibilities of the following
agencies
1. Australian Competition & Consumer Commission
2. Real Estate Institute of NSW
3. NSW Fair Trading
4. Australian Securities and Investments Commission
5. Tenants NSW
1. Main role of ACCC is to enforce a range of legislation, including
Competition and Consumer Act 2010 for promoting competition, fair trading
as well as regulating the national infrastructure Australians' benefits
2. To undertake research and advise government and opposition parties.
Along with this, REINSW also consider as peak industry body that provides
education and training.
3. To investigate unfair practices for creation of fair, safe as well as
equitable marketplace.
4. To protect consumers, ASIC regulate and enforces the company and
financial services related laws.
5. To ensure that property must stays sanitary, clean and repaired. As a
tenant, they are responsible for any visitors and household members at
their home, if actions of them breach the Residential Tenancies Act 2010 or
tenancy agreement then it lead to end tenancy.
Question 2 In property management, there are a number of different types of tenancies
other than residential tenancy.
1. Give an overview of retail tenancy.
2. Explain the tenancy agreement that would be signed.
1. Retail tenancy shows the relationship between a tenant and owner of
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retail premises, under which both have signed a document for rent
property. As per Retail Leases Act 1994, Tenants have right to
compensation and under section 12A, lessee will not liable to pay for any
outgoings to lessor unless the liabilities for amount was disclosed.
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2. Tenancy agreement is a legally binding contract where both tenants and
property owner signed the document for certain terms and conditions, like
rent amount, property address, name of tenants, security deposit and more,
that gives equal rights to both tenants and property holder. As per Retail
Lease Amendment 2017, retail leases can be defined as Omit or agrees to
grant, where one party made agreement to convey land, property and other
for a specified period of time to another person.
Question
3
Research the specific legislation that applies to the following types
of tenancies and give an overview of the main legislative
requirements of each; eg: disclosure to tenants, rent increase, term
of agreement.
1. Residential Tenancy
2. Retail Tenancy
1. Residential Tenancy Act 2010 which applied on residential
tenancy agreement state that includes terms and conditions of
disclosure of tenants, increases rents and other. It includes
disclosure of sale and mortgagee where agent of landlord must
disclose the same before entrance of tenant into residential
tenancy agreement.
2. Retail and Commercial Leases Act 2010 which sets out the
tenancies that before a shop lease is entered, the lessee should be
given entire information about disclosure statement. This
agreement includes matters that are set out within section 12 of
Retail & Commercial Leases Act 1995 – detail of shop, term of
leave (during swimming season till 31 March 2019), Renewal /
Extension of Lease, Consequences of breach and more.
Question 4 1. What are the responsibilities of a property manager to the landlord
in relation to maintaining the condition of the property?
2. What are the responsibilities of the property manager to the tenant,
whilst the tenant is occupying the property?
1. Property manager needs to ensure that their properties must operate
smoothly, appearance should be maintained and increase or preserve the
value. For this purpose, timely facilities like drains and gutters; light bulbs,
building and pest inspection etc. needs to be inspected by hiring
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supervisors and assigning duties.
2. Property manager must ensure that property fit for the tenant as per
tenancy agreements and handle the problems like emergencies, leases,
smoke alarms, complaints and more.
Question 5 Your Landlord contacts you to ask for the phone number of his tenant, as
he is going to install new carpet in the lounge room and needs access for
the tradesman to give a quote. He is very insistent that he must get
access asap.
1. What will you do?
2. What legislative requirements will affect your decision?
1. Will contact immediately to tenant to allowances for the same and
influence to grant permission.
2. As per the Privacy Act, a real estate agent is not allowed to disclose
personal information of tenants without their permission. Along with this,
landlord also need to give at least twelve days notice period of his
intention for carrying out non-urgent repairs. While tenants have the right
for quiet employment of property.
Question
6 Choose one of the Divisions in Part 3: “Rights and obligations
of landlords and tenants” from the Residential Tenancies
Act 2010 and summarise what the Division refers to.
Ensure that you include the responsibilities of both the tenant and
landlord.
As per the forth division – Landlord’s rights to enter residential premises: Landlord
or any other person without consent of tenant can enter into premises between 8
am to 8 pm, except Sunday or any other public holiday. Whist Tenant must allow
landlord or related person for exercising a right of access.
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Question 7 1. Explain the process and timeframes for terminating a tenant’s
agreement under the following circumstances:
• Non payment of rent
• End of the fixed term
2. Explain the tenant’s responsibilities when they need to terminate
their lease during the fixed term of the agreement. (if the break lease
clause is included)
1. If the rent doesn't pay for 14 days or more, and
under, End of a fixed term tenancy – landlord needs to give at least 30
days prior notice to tenant
2. Tenants either give 14 days prior notice to landlord or compensate for
lost rent, if they terminate the fixed term tenancy. Along with this, if they
ends the agreement (residential tenancy agreement) before end, then
they have pay 6 weeks rent if the fixed term period is three years or less,
if period is half expired then 4 weeks rent have to be paid. But if period is
more than 3 years then specific amount has to be paid.
Question 8 1. When must receipts for rent be issued?
2. What specific information must be present on a rent receipt?
1. When payment is made by tenants, receipt must be given at that time
immediately if it is paid in cash. But if payment is made by cheque then a
receipt needs to be available for further collection must be available.
While if payment if made by EFT then there is no need for receipt.
2. Name of payer, payee, address of premises, rent period date, amount
and date when rent is paid.
Question
9 1. At the end of the month the agency will disburse funds to their
landlords. What specific income and expenditure would be
noted on the end of month statement?
1.Rental statement outline the total income and expense on tax
invoices. Expenses include property rents and taxes, bank charges,
insurance, water & electricity etc. While income includes rents
received from tenants, interest received and more.
2. Explain the process you would undertake on a day to day basis
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to ensure all of the information is correct on the end of month
statement.
2. Regular entry about income in the form of rent whether
received in advance or monthly, including tax invoices. Will apply
cross referencing techniques by which it will be ascertained that
which one entry has om[act on another entry.
Question 10 1. What are the documents that are needed before an agent can
promote a property for sale?
2. What is the Section and name of the legislation that outlines this
requirement?
1. Agents Authority, Vendor's Statement and Contract for Sale, Letter for
allotment, Sale deed, Sanctioned plan, society documents, Sale
agreement,
2. Section 55 & Section 63 as per PSBA2002
Question 11 1. Explain the key differences between Joint Tenants and Tenants in
Common.
2. Explain the key differences between Torrens Title and Strata Title
property.
1. Joint tenancy pertains for home ownership under which each part has
equal interest in property and they are on home title, like a ownership
taken by a married couple of a property. While, tenancy in common refers
to take ownership of a property by two or more individuals without
survivorship of right, where sharing scheme depends on their stipulation.
2. Torrens title means purchasing a land and building by a single
purchaser, while Strata Title means multiple purchasers owing a single
land or building.
Question 12 1. Explain what information is contained in a Title Search.
2. Explain how encumbrances affect the title?
3. Give an example of one type of encumbrance and what effect it
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would have.
1.Title is searched with the help of internet sources and hence this gives
complete and specific information about Torrens, so it is easy to complete
the study.
2. Encumbrance restricts the ability of owners to transfer the title or
lessen its value to the property.
3. Liens is a type of encumbrance where if owner didn't pay the property
or income tax, then a liens is placed against their property.
Question 13 A purchaser and a vendor have exchanged contracts with a 5 day cooling
off period, answer the following questions:
1. What is the deposit amount required on exchange of contracts?
2. Where is this money deposited and within what timeframe?
3. At what point are we allowed to disburse the deposit held in the
trust account to the vendor of the property?
4. What document is required prior to disbursement of deposit?
1. As a buyer, they have to deposit 10% of total purchased amount.
2. Amount needs to be deposited to the trusted account of agent of real
estate on or before the next business day.
3. there is requirement of 2 weeks when we are allowed to disburse the
deposit held with trust in account to vendor of the property.
4. Section 27 is the most important and specific law which provides
information about documents which are required prior to disbursement of
deposit.
Question 14 1. What are the essential elements, as prescribed in legislation, of a valid
agency agreement? (Refer to Property Stock and Business Agents
Regulations 2014 Schedule 7)
1. Identification of property, Name of both parties to agreements,
Information about parties, Authority of property holder, Authorisation for
licensee, Duration period of agreement, termination of same and
reimbursement of licensee.
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2. How would you ensure that you do not lose your entitlement to
commission and/or expenses?
2. As per Section 55 PSBA 2002, of Property act, it is clear that there must
be some complete information about licensing agreement through which
ownership and possession will be clear.
Question 15 Explain the features, including advantages and disadvantages of opening
an agency, under the following types of ownership:
1. Sole Trader
2. Partnership
3. Corporation (Company)
1. In sole trader ownership, maintenance of full control of business, profit
retention and privacy of business information would be the main
advantage can be gained. While being single liable and struggle for
finding funds for business expansion are the main disadvantages point.
2. Increasing borrowing capacity and limited external regulation are
benefits of partnership, while risk of disagreement is the major
disadvantages factor
3. For corporation, limited liabilities and taxation rates is the advantage
factor. But it requires much money for establishing and maintaining the
business.
Question
16 If you were looking for information about the supervision
requirements of the licensee in charge of the agency, (as required
under the Property Stock and Business Agents Act), what would you
do to find the information?
1. Will find the information includes under Division 2 of Property
Stock and Business Agents Act – Business Practices and
Supervision.
2. Explain step by step how you would take to access this
information from the web. Eg: 1. use google search, 2. Open link ….
2.
Will input keywords on Google Search - Property Stock and
Business Agents Act 2002 of Australia
Then, open the link
<https://www.legislation.nsw.gov.au/#/view/act/2002/66/whole>.
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After then search about related information
3. Which Section of the Act relates to supervision requirements?
3. Section 32 under Division 2
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