Data Management - Level 1

Question 1

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

Answer 1

1. Lawfulness, fairness and transparency - individuals to be informed of the purpose and legal basis for processing personal data
2. Purpose limitation - collected for specified legitimate purpose
3. Data minimisation - personal data should be relevant to what is necessary

Question 2

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

Answer 2

1. Identifying the personal data collected
2. Obtaining consent to collect personal data
3. Keeping data secure with passwords and limited access
4. Notifying of data subject rights

Question 3

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

Answer 3

When working on a valuation and the client has provided financial information that is sensitive and confidential I:

1. Store the information securely
2. Limit access
3. Use encryption when sending electronically
4. Obtain client consent before sharing information with a third party

Question 4

Give me an example of how you ensure data is kept securely

Answer 4

1. Using strong passwords and changing them regularly
2. Only share confidential information with authorised personnel
3. Encrypt electronic files
4. Regularly back-up important files
5. Use anti-virus software

Question 5

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

Answer 5

The use of electronic communications for marketing purposes including email and texts. The regulations require that individuals provide their consent before receiving direct marketing messages and provide specific rules around the use of cookies on websites.

Question 6

What is copyright? Can it be transferred?

Answer 6

A legal right granted to the creator of an original work that provides the exclusive right to reproduce, distribute and display the work. Copyright is a law that is designed to protect the intellectual property of creators.

Yes, through written agreement such as a copyright assignment or licence agreement.

Question 7

What is the Freedom of Information Act 2000

Answer 7

Gives individuals the right of access to information held by public bodies.

Question 8

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

Answer 8

The Limitation Act 1980 provides a time limit for bringing legal claims.

The RICS recommends that files and records are retained for a minimum of 6 years from the date of the last entry or transaction.

Claims for breach of contract = within six years of the breach

Claims for negligence = within six years of the date which damage occurred

Question 9

Give me an example of a property information tool

Answer 9

Property search report - provides a comprehensive overview of the property, including ownership details, planning history, environmental risks and other relevant information.

Question 10

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

Answer 10

CoStar for comparable evidence and market deal schedules. Take the data and confirm with relevant agents.

Question 11

What are the limitations of primary/secondary data sources?

Answer 11

Primary = time and cost, limited sample size, potential bias, quality of data and difficulty of analysis.

Secondary = accuracy, reliability, relevance, availability and data quality

Question 12

How do you validate information?

Answer 12

Check the source and cross-check

Verify the facts - i.e. with agents

Question 13

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

Answer 13

Deed = legal document that records and agreement or transaction between parties and can be used to transfer property rights

Registered title - a property registered with the Land Registry

Question 14

How do you source title information?

Answer 14

Land Registry
Local Authority
Seller
Surveyor

Question 15

What are the differences between manual and electronic records?

Answer 15

Manual = physical documents that are stored in paper forms

Electronic = digital files stored on a computer

Question 16

What is an index map?

Answer 16

Shows the location and extent of land and property parcels within a specific geographic area.

Question 17

What does encryption mean?

Answer 17

Process of converting plain, readable text into an encoded format, making it secure from unauthorised access. It can be decrypted with a password.

Question 18

What is a firewall?

Answer 18

Security device or software that monitors and controls incoming and outgoing network traffic based on an organisations security policies. It acts as a barrier between a private internal network and the public internet.

Question 19

How can you protect electronic data from viruses?

Answer 19

Anti-virus / anti-malware software

Question 20

What does block chain mean?

Answer 20

Digital ledger technology that enables the secure and transparent recording and sharing of information in a decentralised network of computers.

Question 21

What is BIM and how can it be used?

Answer 21

Building Information Modelling- digital representation of the physical and functional characteristics of a building.

Question 22

Explain the growing use of AVMs in the industry

Answer 22

Automated Valuation Models are computer algorithms that analyse data to estimate the value of a property. They provide quick, cost-effective valuations without the need for an on-site inspection.

AVMs use a variety of data sources, such as recent property sales, market trends, property characteristics and location information.

They are a useful tool for providing initial property valuations but are not a substitution for a comprehensive property valuation.

Question 23

What AVMs are you aware of?

Answer 23

Rightmove and Zoopla valuation tools

Question 24

What is ISO 9001?

Answer 24

Globally recognised standard that set out the requirements for a quality management system.

Question 25

What does ISO 27001 relate to?

Answer 25

Globally recognised standard for InformationSecurity Management Systems

Question 26

Why is quality management important?

Answer 26

Ensures that services meet or exceed expectations

Enables firms to improve efficiency and increase client satisfaction .

Question 27

What is an Electronic Document Management System (EDMS)?

Answer 27

Software that manages and organises electronic documents and files

Question 28

What do you understand by the Civil Evidence Act 1995?

Answer 28

UK legislation that relates to the admissibility of evidence in civil proceedings

Question 29

Are electronic signatures accepted by the Land Registry?

Answer 29

Yes. In July 2019, LR introduced new practice guidelines which allow for the use of electronic signatures.

It is important to check the LR guidelines before using an electronic signature.

Question 30

What type of documents can electronic signatures be used for?

Answer 30

Registration applications, transfers and certain leases

Question 31

What is data redundancy?

Answer 31

The duplication of data within a database.

Question 32

What is VLOOKUP used for?

Answer 32

Excel function to search for specific data in a table or range of cells and return a corresponding value from a specific column.

Question 33

What is a pivot table?

Answer 33

Excel tool to summarise and analyse large amounts of data. Allowing grouping, sorting and filtering of data by different variables to generate customised reports and charts.