Assessor Resource

BSBCNV512
Finalise the conveyancing transaction

Assessment tool

Version 1.0
Issue Date: May 2024


This unit describes the skills and knowledge required to complete conveyancing transactions and verify that all matters relating to arranging settlement, determining contingency strategies, completing transactions, and implementing post-transaction procedures and using Electronic Lodgement Network Operators (ELNOs), where required.

The unit applies to individuals who use specialised knowledge, systematic approaches and strong organisational skills to prepare and process conveyancing transactions efficiently.

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the BSB Companion Volume Implementation Guide or the relevant regulator for specific guidance on requirements.

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


Evidence Required

List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

complete and finalise a conveyancing transaction on at least three occasions.

In the course of the above, the candidate must:

arrange and attend, or electronically attend, settlement and confirm completion of all instructions and requirements, including:

adjustments of relevant outgoings and other fees

confirmation of final payments

verification of accuracy of documents

complete settlement transaction that meets:

agency or practice organisational policies and procedures

legislative requirements of settlement transactions

contractual requirements

client requirements

monitor progress where actions are delayed, extended or rescheduled and determine contingency strategies for settlement where contractual obligations remain unfulfilled

implement post-transaction procedures, where required.

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

key roles of relevant parties in a settlement

transaction requirements, including electronic requirements

file reconciliation procedures and other financial procedures relevant to settlement transactions

conditions for the finalisation of the transaction, including compliance with special conditions

key features of:

formal and informal industry codes of practice governing settlement procedures

land registry policies and procedures for ensuring relevant documentation is lodged and registered on the relevant Certificate of Title

legislation, regulations and common law principles relevant to settlement transactions

practice, policies and procedures in relation to transaction settlement and client management

monitoring procedures and solutions where actions are delayed, extended or rescheduled

compliance requirements of land registry and other relevant agencies

regulations and procedures of relevant government agencies, including revenue offices and land registries, relating to settlement transactions.

Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.

This includes access to:

suitable records showing the completion of a settlement transaction.

Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.

Submission Requirements

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)

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.

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

complete and finalise a conveyancing transaction on at least three occasions.

In the course of the above, the candidate must:

arrange and attend, or electronically attend, settlement and confirm completion of all instructions and requirements, including:

adjustments of relevant outgoings and other fees

confirmation of final payments

verification of accuracy of documents

complete settlement transaction that meets:

agency or practice organisational policies and procedures

legislative requirements of settlement transactions

contractual requirements

client requirements

monitor progress where actions are delayed, extended or rescheduled and determine contingency strategies for settlement where contractual obligations remain unfulfilled

implement post-transaction procedures, where required.

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

key roles of relevant parties in a settlement

transaction requirements, including electronic requirements

file reconciliation procedures and other financial procedures relevant to settlement transactions

conditions for the finalisation of the transaction, including compliance with special conditions

key features of:

formal and informal industry codes of practice governing settlement procedures

land registry policies and procedures for ensuring relevant documentation is lodged and registered on the relevant Certificate of Title

legislation, regulations and common law principles relevant to settlement transactions

practice, policies and procedures in relation to transaction settlement and client management

monitoring procedures and solutions where actions are delayed, extended or rescheduled

compliance requirements of land registry and other relevant agencies

regulations and procedures of relevant government agencies, including revenue offices and land registries, relating to settlement transactions.

Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.

This includes access to:

suitable records showing the completion of a settlement transaction.

Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.
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 unfulfilled contractual obligations and assess possible contingencies 
Identify and evaluate a range of contingency strategies and options and articulate these to the client 
Determine strategies and options in consultation with client and according to practice policies and procedures, and legislative, regulatory, contractual and professional requirements 
Confirm transaction arrangements with all relevant parties and verify conditions for the finalisation of the transaction 
Arrange and perform final searches and inspections, where required 
Examine transaction documents for accuracy and completion 
Complete transaction with all relevant parties 
Lodge stamped documents for registration according to legislative and practice requirements 
Advise all relevant parties of transaction completion 
Make outstanding payments 
Monitor and conclude outstanding matters 
Confirm registration change on title, where required 
Return documents to client and third parties 
Receive and disburse funds as authorised 
Prepare and dispatch invoices to client and other parties 
Update financial, business and client records 
Close and archive file according to legislative, regulatory, contractual and practice requirements 

Forms

Assessment Cover Sheet

BSBCNV512 - Finalise the conveyancing transaction
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

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

Signature:

Date:

Assessment Record Sheet

BSBCNV512 - Finalise the conveyancing transaction

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: