Written Questions What you need to do: Answer the questions below by writing in the space provided. You are required to answer all questions correctly. If correct, you will see ‘Satisfactory’ or if incorrect you will see ‘Not Satisfactory’ in your grades section of your learner portal next to the assessment name. The assessor will provide feedback and a Record of Results in the assessment task once graded. You will be required to resubmit your work for any ‘Not Satisfactory’ assessment tasks. What you will need: Use the learner material provided in your online student portal as well as research materials such as books, internet, magazines, workplace documentation etc. to assist you in gaining the knowledge required to answer the questions. Remember that the assessment is completely self-paced and open book, so you are able to use whatever resources you have to answer the questions. What you need to submit: Your answers to these questions. How to Submit your Assessment: Upload your completed document into the “CPPREP4002 – Written Questions” Online Assessment in your learner portal. You can drag and drop the file into the window or use the add file icon in the top left of the submission window and select the file your wish to upload by using the browse/choose file option. Click on finish attempt to submit it for grading. Question 1 Complete the following table by inserting the name of at least 2 pieces of legislation relevant to the areas listed as relevant to your state/territory and identify whether the legislation is at the state or federal level (in brackets). AreaName of the Acts/Regulationsreal estate agents and licensingPropert and stock agents act 2002 NSW Property and stock agents regulation 2014 NSWproperty salesNative title act 1993 CTH Real property act 1900 NSWProperty managementResidential tenancies act 2010 NSW Residential tenancy regulation 2019 NSWPrivacyPrivacy act 1988 CTH Personal properties securities act 2009 CTHfair trading and consumer protectionCompetition and consumer act 2010 CTH Fair trading act 1987 NSW Fair trading regulations 2019 NSWdiscriminationsex discrimination act 1984 CTH Australian human rights commission act 1986 CTHwork health and safety/occupational health and safetyWork health and safety act 2011 NSW Work health and safety regulations 2017 NSWenvironmental (sustainability)Environment protection and biodiversity conservation act 1999 CTH Norfolk island legislation amendment act 2015 CTHemployment and industrial relationsfair work act 2009 and regulations CTH Employment protection regulation 2017 NSWforeign investmentForeign Acquisitions and Takeovers Act 1975 (Cth) Foreign Acquisitions and Takeovers Fees Imposition Act 2015 (Cth) Register of Foreign Ownership of Water or Agricultural Land Act 2015 (Cth)secret commissions (Only 1 required)Crimes act 1900 NSW Question 2 What is the role of the Australian Competition and Consumer Commission? The Australian Competition and consumer commission also known by ACCC is independent commonwealth statutory authority body which is formed to enforce the Australian competition and consumer act 2010 and the regulations associated with it and promoting competition , fair trading and regulating national infrastructure for the need and benefit of all Australians. Question 3 Consider the relevance of consumer protection requirements and identify (2) risks for the following; Consumer (Buyer/tenant/Seller or landlord)Risk to the AgencyRisk to the IndustryPersonal Risk Click or tap here to enter text. Question 4 What is an ‘Authority to act’? Authority to act is an authority given to someone to act on some one’s behalf. This is different from a power of attorney as it isn’t defined as a legal document. An authority to act is also for a single occasion rather than ongoing authority across multiple matters. Question 5 In 100 – 200 words, explain the impact of fraudulent activities on consumer and agency. Click or tap here to enter text. Question 6 Identify a minimum of four risks that may impact on an agency. Outline the strategies that you would recommend to manage each risk. RiskStrategiesClick or tap here to enter text.Click or tap here to enter text.Click or tap here to enter text.Click or tap here to enter text.Click or tap here to enter text.Click or tap here to enter text.Click or tap here to enter text.Click or tap here to enter text.Click or tap here to enter text.Click or tap here to enter text. Question 7 Access the Property and Stock Agent Regulation 2014 then complete the questions below. 7.1 – What section of the Property and Stock Agent Regulation 2014 covers Penalty Notice Offenses? Click or tap here to enter text. 7.2 – Complete the table below with (2) penalties or disciplinary actions that can be taken by the Office of Fair Trading for breaches of codes and standards for ethical practice in real estate. ProvisionDescription (Summary)Penalty (Individual)Penalty (Corporation)Section 8 (1)Contents of agency agreements – agency agreement must comply with the requirements of Schedules 7–14 $ 1,100N/AClick or tap here to enter text.Click or tap here to enter text.Click or tap here to enter text.Click or tap here to enter text.Click or tap here to enter text.Click or tap here to enter text.Click or tap here to enter text.Click or tap here to enter text. Question 8 Explain the role of procedures, forms and documents in managing risk of unethical practice. Click or tap here to enter text. Question 9 Apply your learning about ethics and explain (3) strategies you could undertake to respond to concerns about discrepancies between personal and/or agency practice ethical practices and those outlined in the standards for real estate ethical practice. Click or tap here to enter text. Question 10 In 50-100 words describe how the agency can clearly communicate to the consumer their rights and responsibilities, with regards to complaints resolution processes. Click or tap here to enter text. Question 11 List (2) sources that you can access to obtain advice about ethical practices. Click or tap here to enter text. Question 12 List 3 ways you can make sure advertising and communications are not false or misleading when advertising properties for sale or for lease? Click or tap here to enter text. Question 13 Explain the importance of using clear communication in all dealings with all parties to the real estate transaction, including providing written documents and signed documents. Click or tap here to enter text. Question 14 Read this following list of behaviours and indicate whether the behaviour is ethical or unethical by writing (Ethical or Unethical) next to the scenario. Ethical or UnethicalDescription of behaviour..Knocking on the door of a property listed by another agent to obtain a listing?..Asking a buyer to sign an open for inspection register when their attend a weekend open home?..Contacting another agent’s client after they attend your open home asking you to list their property at the end of the other’s agent’s exclusive period?..Marketing the property as “Uninterrupted Ocean Views” when a development is due to be built in front of the property you are marketing?..Selling a property you have listed for sale to a friend without the owner’s knowledge..Referring a buyer to a mortgage broker to help them obtain finance after letting the buyer know that you will receive a referral fee. Question 15 Describe ethical practice standards for privacy, confidentiality and security of customer information required as part of real estate practice. Click or tap here to enter text.
