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Evidence Guide: CPPREP4005 - Prepare to work with real estate 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

 

CPPREP4005 - Prepare to work with real estate trust accounts

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

Examine trust accounts.

  1. Analyse legislation relating to the operation of trust accounts in real estate.
Analyse legislation relating to the operation of trust accounts in real estate.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Explain the purpose of trust accounts in real estate.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Analyse regulatory requirements for the operation of trust accounts, including manual and electronic operating systems.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify established controls applicable to real estate trust account transactions.

  1. Explain the roles and responsibilities of real estate personnel for trust account activities, including referral of issues.
Explain the roles and responsibilities of real estate personnel for trust account activities, including referral of issues.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Explain scope and limitations of own role for trust account activities.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Analyse licensee-in-charge responsibilities for trust account transactions, including audits.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Explain impacts on clients and agency of inaccuracies in trust account and of trust account fraud.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Explain common inaccuracies in trust account transactions.

  1. Explain standard transactions that occur in real estate trust accounts.
Explain standard transactions that occur in real estate trust accounts.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Explain common sources of inaccuracies in trust account transactions and the processes to address these.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Outline monthly trust account processes required by legislation in the state or territory of operations.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Required Skills and Knowledge