This unit specifies the skills and knowledge required to establish and monitor management practices for property industry trust accounts.

It includes accessing, reading and interpreting regulatory controls for trust accounts in a property agency practice and establishing, monitoring and reviewing the application of agency controls for opening, operating, monitoring and closing trust accounts, including delegation of authority, security and data management.

The unit also includes the skills and knowledge to identify and control fraudulent practices that impact the trust account.

The unit applies to industry professionals in the property industry in control of an agency.

State or territory licensing requirements may apply to this unit.

You may want to include more information here about the target group and the purpose of the assessments (eg formative, summative, recognition)

List each assessment task's title, type (eg project, observation/demonstration, essay, assingnment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice	Yes	No	Comments/feedback
Identify property industry operations for which trust accounts are required.
Interpret relevant legislation regulating property agency trust accounts.
Identify and analyse suitable systems for property agency trust accounts to meet legislative requirements.
Identify and outline legislative requirements for opening and closing trust accounts.
Identify and record risks associated with the operation of real estate trust accounts.
Establish systems, policies, procedures, checklists and controls for property agency trust accounts.
Verify periodic reconciliation of compliance with legislative requirements.
Maintain records for convenience and proper auditing.

Assessment Cover Sheet

CPPREP5002 - Establish and monitor property industry trust account management practices

Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

Student signature:

Result: Competent Not yet competent

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Assessment Record Sheet

CPPREP5002 - Establish and monitor property industry trust account management practices

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

Date: