This cluster incorporates CPPREP5001 Manage compliance in the property industry, CPPREP5002 Establish and monitor property industry trust account management practices and CPPPREP5003 Manage ethical practice in the property industry nationally recognised units.
CPPREP5001 specifies the skills and knowledge required to analyse, develop, implement, manage and evaluate compliance in the property industry.
CPPREP5002 specifies the skills and knowledge required to establish and monitor management practices for property industry trust accounts. It includes accessing, reading and interpreting regulatory controls for trust accounts in a property agency practice and establishing, monitoring and reviewing the application of agency controls for opening, operating, monitoring and closing trust accounts, including delegation of authority, security and data management. The unit also includes the skills and knowledge to identify and control fraudulent practices that impact the trust account.
CPPREP5003 specifies the skills and knowledge required to implement and manage ethical practice systems in a property agency.
This cluster will cover the following key points:
- Determine compliance management requirements
- Develop and risk control strategies that manage compliance
- Manage compliance systems
- Evaluate compliance systems
- Interpret regulations for property agency trust accounts
- Develop risk management plans
- Implement systems to control property agency trust accounts.
- Authorise and verify trust accounts
- Determine ethical practice management requirements
- Implement risk control strategies
- Monitor ethical practice
- Evaluate ethical practice systems
For further information on the unit (s) please visit the following links
This training contributes to the development of competence in CPPREP5001 Manage compliance in the property industry, CPPREP5002 Establish and monitor property industry trust account management practices and CPPPREP5003 Manage ethical practice in the property industry in real estate which forms part of the nationally recognised qualification CPP51119 Diploma of Property Services (Agency Management).