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Evidence Guide: CPPREP4125 - Transact in trust accounts

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

CPPREP4125 - Transact in trust accounts

What evidence can you provide to prove your understanding of each of the following citeria?

Process deposits.

  1. Receive trust account payments.
  2. Provide receipts for payments received.
  3. Prepare banking documentation to deposit trust moneys.
  4. Record receipts in trust account cash journal and trust account ledger.
Receive trust account payments.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Provide receipts for payments received.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Prepare banking documentation to deposit trust moneys.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Record receipts in trust account cash journal and trust account ledger.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Adhere to legislative requirements.

  1. Outline the types and purpose of real estate trust accounts.
Outline the types and purpose of real estate trust accounts.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Outline the personal obligations, responsibilities and legislative requirements for administering real estate trust accounts.

  1. Receive trust account payments.
Receive trust account payments.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Provide receipts for payments received.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Prepare banking documentation to deposit trust moneys.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Record receipts in trust account cash journal and trust account ledger.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Process payment, fees and charges.

  1. Receive and validate requests for payment.
Receive and validate requests for payment.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Confirm authorisation for payment.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Check trust account ledger to confirm adequate funds in trust account before processing payment.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Process payments from trust account.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Process payment advice.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Record payment from trust account in trust account cash journal and trust account ledger.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Maintain and protect trust account records.

  1. Balance and reconcile trust account.
Balance and reconcile trust account.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Apply agency contingency procedures to respond to discrepancies identified with trust account.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Prepare records and statements of trust account transactions.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and explain the process for unclaimed trust money.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Maintain security of trust account records.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Required Skills and Knowledge