NREL - Cpprep 4101 and Cpprep 4504 - Written Questions v1 PDF

Preview

Summary

very very helpful related to property estate...

Description

CPPREP4101 - Appraise property for sale or lease (Release: 1) CPPREP4504 - Deliver presentations to clients in real estate (Release 1) Written Questions

Written Questions

P a g e | 1 of 14 © National Real Estate Learning RTO 40998

Version 1.2 – June 2021

CPPREP4101 - Appraise property for sale or lease (Release: 1) CPPREP4504 - Deliver presentations to clients in real estate (Release 1) Written Questions

What you need to do: For this assessment task you will undertake research and report on various aspects of working in the real estate industry. A template has been provided to you to use to structure your report to cover all the required information. 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: You will need to research information about real estate agencies to assist with your responses for this task. 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 completed report. How to Submit your Assessment: Upload your completed document CPPREP4101 - Written Questions” Online Assessment [1] 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.

P a g e | 2 of 14 © National Real Estate Learning RTO 40998

Version 1.2 – June 2021

CPPREP4101 - Appraise property for sale or lease (Release: 1) CPPREP4504 - Deliver presentations to clients in real estate (Release 1) Written Questions

Question 1 List sections of the legislation that apply to conducting a property appraisal. Click or tap here to enter text.

Question 2 A client has phoned in a complaint about a recent property appraisal that was conducted at their home. They have indicated that the agent was talking of his phone at the time of arriving at the property after being 10 minutes late and the client felt dismissed by the agent and was no longer wanting to work with the agent to sell her property. In 100 – 150 words explain the communication strategies (what you would do or say) you would use to respond to client’s complaints. Click or tap here to enter text.

P a g e | 3 of 14 © National Real Estate Learning RTO 40998

Version 1.2 – June 2021

CPPREP4101 - Appraise property for sale or lease (Release: 1) CPPREP4504 - Deliver presentations to clients in real estate (Release 1) Written Questions

Question 3 What is the difference between a property appraisal and a property valuation? Click or tap here to enter text.

Questions 4 Complete the table below in reference to how each of the listed property attributes impact on the agent’s appraisal of the property.

a. b. c.

d.

e. f. g.

h.

Property Attribute Building construction Asbestos Building construction – steel frame Aesthetic and design features – e.g. Neutral colour palette Faults and hazards -

Explain the Positive/Negative Impact of your example 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.

Building improvements Click or tap here to enter text. and modifications Property condition and Click or tap here to enter text. presentation Heating, cooling and Click or tap here to enter text. ventilation systems Energy efficiency and Click or tap here to enter text. sustainability ratings

P a g e | 4 of 14 © National Real Estate Learning RTO 40998

Version 1.2 – June 2021

CPPREP4101 - Appraise property for sale or lease (Release: 1) CPPREP4504 - Deliver presentations to clients in real estate (Release 1) Written Questions

Question 5 List and explain (3) reasons that an owner may contact an agent for an appraisal on their property? Click or tap here to enter text.

Question 6 What source documents need to be obtained and analysed for property appraisal? Click or tap here to enter text.

P a g e | 5 of 14 © National Real Estate Learning RTO 40998

Version 1.2 – June 2021

CPPREP4101 - Appraise property for sale or lease (Release: 1) CPPREP4504 - Deliver presentations to clients in real estate (Release 1) Written Questions

Question 7 What are (4) examples of indicators that can be used to measure the sales market? Click or tap here to enter text.

Question 8 What are (3) physical indicators/signs of wear and tear and defects that may affect your property appraisal? Click or tap here to enter text.

P a g e | 6 of 14 © National Real Estate Learning RTO 40998

Version 1.2 – June 2021

CPPREP4101 - Appraise property for sale or lease (Release: 1) CPPREP4504 - Deliver presentations to clients in real estate (Release 1) Written Questions

Question 9 What is the role of the agent and real estate personnel in providing property appraisal, price range and rental value recommendation? Click or tap here to enter text.

Question 10 Explain in 100 – 200 words professional and ethical practices associated with conducting property appraisals and delivering presentations to clients in real estate. Click or tap here to enter text.

P a g e | 7 of 14 © National Real Estate Learning RTO 40998

Version 1.2 – June 2021

CPPREP4101 - Appraise property for sale or lease (Release: 1) CPPREP4504 - Deliver presentations to clients in real estate (Release 1) Written Questions

Question 11 List and explain in 20 – 50 words each, (3) different methods that can be used to appraise property Click or tap here to enter text.

Click or tap here to enter text.

Click or tap here to enter text.

Question 12 When appraising a shopping centre, which of the following appraisal methods would be best suited to conduct the appraisal? (Click the box to select your answer) ☐ ☐ ☐ ☐

(a) (b) (c) (d)

Direct market analysis Summation Hypothetical Capitalisation

Question 13 Explain the process in 50 – 150 words that you would undertake to maintain documented evidence from appraisal activities to ensure confidentiality of information. Click or tap here to enter text.

P a g e | 8 of 14 © National Real Estate Learning RTO 40998

Version 1.2 – June 2021

CPPREP4101 - Appraise property for sale or lease (Release: 1) CPPREP4504 - Deliver presentations to clients in real estate (Release 1) Written Questions

Question 14 What timeframe must the licensee keep records associated with transactions for? (Click the box to select your answer) ☐ ☐ ☐ ☐

(a) (b) (c) (d)

At least 3 years after a record is made At least 7 years after a record is made At least 5 years after a record is made Until the transaction is concluded

Question 15 List (3) sources of specialist advice you may need to use to assist you in preparing a property appraisal report and explain the purpose of this advice? Click or tap here to enter text.

P a g e | 9 of 14 © National Real Estate Learning RTO 40998

Version 1.2 – June 2021

CPPREP4101 - Appraise property for sale or lease (Release: 1) CPPREP4504 - Deliver presentations to clients in real estate (Release 1) Written Questions

Question 16 Property market conditions can be influenced by social, economic, political and physical factors. Provide (2) real estate relevant examples for each category and explain how these impact on market conditions. Social Factors Click or tap here to enter text.

Economic Factors Click or tap here to enter text.

Political Factors Click or tap here to enter text.

Physical Factors Click or tap here to enter text.

Question 17 What are (2) Sources of information that an agent can access and use in order to assist with providing a client with a property appraisal. Click or tap here to enter text.

P a g e | 10 of 14 © National Real Estate Learning RTO 40998

Version 1.2 – June 2021

CPPREP4101 - Appraise property for sale or lease (Release: 1) CPPREP4504 - Deliver presentations to clients in real estate (Release 1) Written Questions

Question 18 What sources can you access to obtain the following information relevant to completing a property appraisal? Scenario Advice on remedies for building defects. Building/planning approvals Certificate of title Market conditions Local and state regulations

Source 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 19 When recommending property improvements to a client, what are some of the key factors that an agent should take into consideration? Click or tap here to enter text.

Question 20 List the name of 1 property portal or real estate specific database that agents can use to assist in the preparation of a property appraisal. Click or tap here to enter text.

P a g e | 11 of 14 © National Real Estate Learning RTO 40998

Version 1.2 – June 2021

CPPREP4101 - Appraise property for sale or lease (Release: 1) CPPREP4504 - Deliver presentations to clients in real estate (Release 1) Written Questions

Question 21 What property attributes would be considered “comparable” and therefore relied upon in a direct market comparison? Click or tap here to enter text.

Question 22 What is an “out of line” sale and the forces that impact on property value? Click or tap here to enter text.

P a g e | 12 of 14 © National Real Estate Learning RTO 40998

Version 1.2 – June 2021

CPPREP4101 - Appraise property for sale or lease (Release: 1) CPPREP4504 - Deliver presentations to clients in real estate (Release 1) Written Questions

Question 23 Complete the table below to identify (3) risks associated with completing a property appraisal and risk management strategies you could implement to mitigate the risk. Risk 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.

Treatment 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 24 List (2) Agency forms and documentation associated with property appraisal and reasons for maintaining documentation. Click or tap here to enter text.

Question 25 An investor purchases a property for $400,000.00. He receives $450.00 per week in rent. Calculate the rental yield for the investment and comment on the financial viability of this investment. Click or tap here to enter text.

P a g e | 13 of 14 © National Real Estate Learning RTO 40998

Version 1.2 – June 2021

CPPREP4101 - Appraise property for sale or lease (Release: 1) CPPREP4504 - Deliver presentations to clients in real estate (Release 1) Written Questions

Question 26 The term - “Average days on the market” is (Click the box to select your answer) ☐ (a) The percentage of rental properties which are available/unoccupied at a given time ☐ ☐ ☐ ☐

(b) (c) (d) (e)

The average time that it takes for a property to be “on the market” for sale/rent Used to determine “supply and demand” in the property market. Both c and b The percentage of properties which are selling under the hammer at auctions

P a g e | 14 of 14 © National Real Estate Learning RTO 40998

Version 1.2 – June 2021...