CPPREP4005 - Prepare for Work with Real Estate Trust Accounts - Real Estate Assignment Help

Assignment Task

Assessment Question 1
Identify each of the following key trust accounting facts: (Point form answer)
a) Explain the purpose of a trust account.
b) Name the legislation that regulates trust accounting in NSW.
c) Identify the body that has regulatory authority over NSW real estate trust accounts.
d) Are bank fees permitted to be debited from a trust account?
e) What happens to the interest accrued on the trust account?
f) Can the trust account be overdrawn or have an overdraft attached?

Assessment Question 2
Explain the purpose of the agency’s general operating account (short answer)

Assessment Question 3
An agency must operate a separate trust account for the sale and property management departments

Assessment Question 4
What is a trust investment account used for? (short answer)

Assessment Question 5
Explain the impact that trust account fraud breach can have on the client and the agency. (short answer)

Assessment Question 6
You must describe how compliance would be monitored and establish the processes to maintain the trust account in an agency. You must address the integrity, security, confidentiality and privacy within the agency (Case study).

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