Data Management

Question 1

Can you tell me three principles of UK GDPR and the Data Protection Act 2018?

Answer 1

Article 5 of the UK GDPR sets out seven key principles which lie at the heart of the general data protection regime.

Lawfulness, fairness and transparency
Purpose limitation
Data minimisation
Accuracy
Storage limitation
Integrity and confidentiality (security)
Accountability

Question 2

How do you comply with UK GDPR and the Data Protection Act 2018 in your role?

Answer 2

Store files securely
Files on computer and password protected
I change my password every 3 months
If a client requests any information I check I can share it and then provide it to them if allowed

Question 3

Give me an example of how you process and handle confidential information

Answer 3

For consultant appointments, we need a headed paper with their bank details on. I send this in an email directly to our finance department and store the details securely in our filing system.

Question 4

What do the Privacy and Electronic Communications Regulations 2003 apply to?

Answer 4

The PECR apply to:

Electronic marketing, including telephone calls, SMS messages, emails and faxes;
The use of website cookies to track visitors;
The security of public electronic communications services; and
The privacy of users of electronic communications services.

Question 5

What is copyright?

Answer 5

Copyright protects your work and stops others from using it without your permission. You get copyright protection automatically - you don’t have to apply or pay a fee. There isn’t a register of copyright works in the UK.

Copyright is a type of intellectual property that protects original works of authorship as soon as an author fixes the work in a tangible form of expression. In copyright law, there are a lot of different types of works, including paintings, photographs, illustrations, musical compositions, sound recordings, computer programs, books, poems, blog posts, movies, architectural works and plays etc.

Question 6

What is Intellectual Property?

Answer 6

Intellectual property (IP) refers to creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce.

IP is protected in law by, for example, patents, copyright and trademarks, which enable people to earn recognition or financial benefit from what they invent or create.

Question 7

Can Intellectual Property be transferred?

Answer 7

Yes, you can share your intellectual property rights through licensing or assignment agreements. Licensing allows others to use your intellectual property while you retain ownership, while assignment involves transferring ownership to another party.

Question 8

What is the Freedom of Information Act 2000?

Answer 8

The Freedom of Information Act 2000 provides public access to information held by public authorities. It does this in two ways: public authorities are obliged to publish certain information about their activities; and. members of the public are entitled to request information from public authorities.

Question 9

What is the Limitation Act 1980?

Answer 9

The Limitations Act 1980 outlines the time limit within which a creditor can chase a debtor for outstanding debts. The Limitation Act 1980 only applies when no contact has been made between the creditor and debtor within the given time limit and only applies to residents of England and Wales.

Question 10

Can you tell me about the retention of files and the Limitation Act 1980?

Answer 10

Legal records that must be retained for a period of at least six years as this is the principal limitation period under the 1980 Limitation Act.

This includes records pertaining to the following:

Crime
Immigration
Litigation in County Court
Debt collection

Contract - 6 years from date of negligence
Tort - 6 years from the date the claimant suffered the loss (a tort is a civil wrong that causes a claimant to suffer loss or harm, resulting in legal liability for the person who commits the tortious act)

Question 11

LA 1980 - Legal records that must be retained for a period of at least fifteen years

Answer 11

Certain files should be kept for a period of 15 years, in accordance with the long-stop provision of section 14B of the Limitation Act of 1980. These documents are pertinent in circumstances where claims may be asserted outside the principal limitation period. This includes records pertaining to the following:

Children and family matters
Commercial transactions
Financial Services
Matrimonial matters
Commercial property
Property sales
Residential property purchases
Probate
Sales of leasehold properties
Employment
Personal injury

Question 12

LA 1980 - Legal records that must be retained for longer than 15 years

Answer 12

Other more critical files should be retained for a longer period of time than 15 years - ideally, they will not be discarded at all. These records include the following:

Change of name
Company formation
Court of Protection
Declaration of trust
Patents/intellectual property matters
Pension schemes
Lasting power of attorney and enduring power of attorney
Wills

Question 13

Deeds and Wills storage

Answer 13

Only original wills and deeds are legally binding, which is why it is critical to have the originals safely stored. Wills are subject to modification and updating over time, but the most recent version will be used in court to divide an estate. Additionally, original deeds may contain other information that may be beneficial in the event of a dispute, such as legal borders and the prior owner.Different law firms will have varying practises on how long they retain an original will or deed, with some holding it permanently while others retain it for a finite period (30 years from creation, for example).

Question 14

Give me an example of a property information tool

Answer 14

Land Insight provides a fast and easy way of identifying and assessing land with development potential. We’re a data platform at heart, providing up-to-date land and property information such as land ownership, planning applications, site constraints, and market conditions.

Question 15

Tell me about how you extract data from a source regularly used in your role

Answer 15

I regularly extract comparable evidence from Rightmove to assist with valuations I undertake. I extract previous sold and on the market information as well as floor areas and volumes of transactions.

Question 16

What are the limitations of primary data sources?

Answer 16

The main disadvantage of using primary data sources is that they can be costly, time-consuming, and difficult to obtain, especially if you need a large or representative sample of your population.

Question 17

What are the limitations of secondary data sources?

Answer 17

Disadvantages of Secondary Data Analysis
Since the researcher did not collect the data, he or she has no control over what is contained in the data set. Often times this can limit the analysis or alter the original questions the researcher sought out to answer.

Can be inaccurate and dated

Question 18

How do you validate information?

Answer 18

I validate information from Rightmove by speaking to local agents to confirm property transactions.

Question 19

What is the difference between a deed and a registered title?

Answer 19

When you own a home, the deed is the physical document that proves ownership. The title is the concept of legal ownership that the deed grants you. You can think of the deed as the document that transfers, or passes on, the title or the right to ownership.

Question 20

How do you source title information?

Answer 20

Land Registry

Question 21

What is the difference between manual and electronic records?

Answer 21

Manual records are paper records
Electronic records are where files are stored on a computer system

Question 22

Manual vs electronic records

Answer 22

When it comes to paper vs. electronic record keeping, electronic record keeping is far more secure. There is always the risk of a paper document being lost, misplaced, or destroyed by accident. An authorized individual may forget where they left a document or may return it to the wrong place.

Question 23

What is an index map?

Answer 23

Index maps are a type of finding aid that enables users to find a set of maps covering their regions of interest along with the name or number of the relevant map sheet. An index map provides geospatial data on either a sheet of paper or a computer screen. I

Question 24

What does encryption mean?

Answer 24

The process of converting information or data into a code, especially to prevent unauthorized access.

Question 25

What is a firewall?

Answer 25

In computing, a firewall is a network security system that monitors and controls incoming and outgoing network traffic based on predetermined security rules. A firewall typically establishes a barrier between a trusted network and an untrusted network, such as the Internet.

Question 26

How can you protect electronic data from viruses?

Answer 26

Be aware of phishing attacks via emails
Update passwords regularly
Back up important business data

Question 27

What is phishing?

Answer 27

The fraudulent practice of sending emails or other messages purporting to be from reputable companies in order to induce individuals to reveal personal information, such as passwords and credit card numbers.

Question 28

What does block chain mean?

Answer 28

Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack or cheat the system.

Question 29

Which records and manually kept in your office and why?

Answer 29

A Health and Safety file which should be readily available for inspection.

1. A current list of names of individuals with key health and safety roles – e.g. risk assessors, DSE assessors, first aiders (include date certificates expire), fire evacuation officers, Union Health and Safety Representatives working in the area etc.
2. A copy of the Health and Safety Code / Company Health and Safety Policy, and projected date for review
3. Copies of other local health and safety policies, procedures or guidance given to staff or students
4. A Register of Risk Assessments Completed for the Company Health and Safety Risk Assessment
5. Copies of Risk assessments*, including (where applicable):

Question 30

What is BIM and how can it be used?

Answer 30

BIM or Building Information Modelling is a process for creating and managing information on a construction project across the project lifecycle. One of the key outputs of this process is the Building Information Model, the digital description of every aspect of the built asset. This model draws on information assembled collaboratively and updated at key stages of a project. Creating a digital Building Information Model enables those who interact with the building to optimise their actions, resulting in a greater whole life value for the asset.

Question 31

What is an AVM?

Answer 31

‘Automated Valuation Models use one or more mathematical techniques to provide an estimate of value of a specified property at a specified date, accompanied by a measure of confidence in the accuracy of the result, without human intervention post-initiation.’ - RICS

Question 32

Why is AVM use growing in the industry?

Answer 32

It provides a level of consistency as human error will be removed. AVMs have become increasingly sophisticated in the last few years, likely triggered by the limitations placed on surveyors during COVID restrictions. There are now a growing number of firms offering remote valuation services.

Saves time, money and resources, and helps manage the ever-increasing data stream, providing a level of certainty

Question 33

What AVMs are you aware of? (1)

Answer 33

For estimating compensation payments to owners of property due to the effect of the use of new public works, for example, road schemes or airport expansion, etc

Public authorities may find an AVM a quick and cost-effective way of estimating the likely cost of compensation as part of a total ‘scheme’ cost. An appropriate model can provide a pre-scheme value estimate of affected properties and keep this up to date as necessary

Question 34

What AVMs are you aware of? (2)

Answer 34

For the provision of valuation estimates for large-scale asset valuations, for example, a portfolio
of local-authority-owned properties, or the sale of a mortgage book in respect of ‘securitisation’.

Here an AVM can be used, potentially cost-effectively, to provide sample valuations for portfolio purposes or for the valuation of a whole portfolio.

Question 35

What is ISO 9001?

Answer 35

International Organisation for Standardisation - sets out the criteria for a quality management system.

This standard is based on a number of quality management principles including a strong customer focus, the motivation and implication of top management, the process approach and continual improvement. These principles are explained in more detail in ISO’s quality management principles. Using ISO 9001 helps ensure that customers get consistent, good-quality products and services, which in turn brings many business benefits.

Question 36

What are the requirements of ISO 9001?

Answer 36

There are five requirements to achieve ISO 9001 certification:

Quality Management Systems (QMS)
Management Responsibility.
Resource Management.
Product Realization.
Measurement, Analysis, and Improvement.

Question 37

What does ISO 27001 relate to?

Answer 37

ISO 27001, the international standard for information security, works on three principles; confidentiality, integrity, and availability of data.

Question 38

Why is quality management important?

Answer 38

A quality management system is a set of interrelated policies, processes and procedures in the core areas that can impact a firm’s ability to meet a client’s requirements. These should tackle the components that your business has to have in place to achieve a better chance of consistently providing a product or service that meets what the client asked for.

Question 39

What is an Electronic Document Management System (EDMS)?

Answer 39

A type of software that stores, organizes, and manages documents in the form of electronic files for an organization. This system works best for documents that do not undergo much change, such as legal files, financial reports, marketing collateral, and scanned posts.

Question 40

What do you understand by the Civil Evidence Act 1995?

Answer 40

In civil proceedings, facts must be proved and the hearsay evidence is admissible

Question 41

Are electronic signatures accepted by the Land Registry?

Answer 41

Yes - HM Land Registry will accept consents, certificates and application forms signed electronically by non-conveyancers as long as these documents are lodged by a conveyancer

Question 42

What type of documents can electronic signatures be used for?

Answer 42

Deed of variation, registerable lease, transfers.

Legal documents, contractual agreements, invoices, financing documentation and more.

Question 43

What is data redundancy?

Answer 43

Data redundancy occurs when the same piece of data is stored in two or more separate places and is a common occurrence in many businesses.

Question 44

What is VLOOKUP used for?

Answer 44

VLOOKUP stands for “Vertical Lookup” and is used to search for a specific value in the first column of a dataset and retrieve a corresponding value from a different column within the same row.

Question 45

What is a pivot table?

Answer 45

A PivotTable is an interactive way to quickly summarize large amounts of data.

The tool does not actually change the spreadsheet or database itself, it simply “pivots” or turns the data to view it from different perspectives. Pivot tables are especially useful with large amounts of data that would be time-consuming to calculate by hand.