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RICS-APC > Property Records/Data Management > Flashcards

Property Records/Data Management Flashcards

1
Q

Why is it important to keep an accurate record of property records?

A

To ensure quality and reliability as far as possible. Will impact the quality of the advice to clients.

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2
Q

What are the General Data Protection Regulations (GDPR) 2018?

A

Data protection laws for the modern age. Applies to personal data and sensitive personal data. Data Protection Officer required for organisation that monitor data on large scale.

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3
Q

What is the definition of personal data?

A

Any information which are related to an identified or identifiable person.

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4
Q

How does GDPR affect your firm?

A

Ensuring sensitive documentation is kept confidential.

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5
Q

What is the Data Protection Act 2018?

A

To regulate the processing and storage of personal data. Obligations enforced on organisations storing data.

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6
Q

What are the 6 principles of the Data Protection Act 2018?

A
  1. Processed lawfully and fairly.
  2. Purpose of the data collection is specified.
  3. Data processed must be adequate, relative and not excessive for the purpose it is held.
  4. Accurate and up to date
  5. Held no longer than necessary.
  6. Appropriate Security
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7
Q

What would an organisation have to do if they wanted to store personal data on a computer?

A
  1. Must register on data controller register + pay a fee.
  2. Criminal offence punishable to store personal data on pc without registering.
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8
Q

What other legislation must you have regard to when dealing with information/data?

A

Freedom of Information Act 2000. Gives the right to access info held by public organisations

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9
Q

What is an NDA?

A

An agreement where it is agreed to treat info as confidential. Cease and desist letter is issued to an individual who breeches the agreement.

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10
Q

What is a deed?

A

A deed is a signed legal document that transfers the title of an asset to a new holder, granting them the privilege of ownership.

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11
Q

What can you determine from Title Documents?

A
  1. Owner
  2. Tenure
  3. Price paid & date of sale
  4. any boundaries
  5. Any rights of way, restrictions etc.
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12
Q

What is a restrictive covenant?

A

A legal agreement restricting occupiers use of the land in some way, for the benefit of neighboring land.

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13
Q

What is the Investors Property Databank (IPD)?

A

Database which provides investment performance statistics

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14
Q

What is a Copyright?

A

Set of exclusive rights granted to an author of any original work. It is a form of intellectual property.

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15
Q

What have you sourced from the VOA?

A

Business Rates.
RV * Multiplier = Rates payable

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16
Q

What policies do L&R have in place to protect data?

A

L&R data privacy policy. the Privacy Officer is responsible for the oversight of this Policy

17
Q

What sources do you consult in your due diligence? How do you use this information?

A
  • Companies House,
  • audited accounts-used to determine their financial position
  • Approrpriate Surety
18
Q

How you use your diary for property management systems?

A

Used for periodic tasks such as lease events or EPC required.

19
Q

What are some methods to ensure security of data that you use at work?

A

Passwords, user restrictions, lock laptop whilst away from desk

20
Q

How do you verify information? What do you do if you cannot verify information?

A

Contact the source i.e. the agent who did the deal. Otherwise refer to particulars for a guide.

21
Q

How do you analyse and present extracted data?

A

Tables, maps, charts, plans, photos

22
Q

How long can you use personal data for?

A

For no longer than necessary for the purpose of which it is being processed.

23
Q
A
24
Q

What are key changes in the GDPR 2018?

A

Increase in penalties for non compliance.

25
Q

What would you do if there is a data breach under GDPR?

A

Notify Data Protection Regulator within 72 hours

26
Q

What are the 8 RIGHTS under GDPR?

A
  1. To access
  2. To correction
  3. To erasure
  4. To restrict processing
  5. Data portability
  6. TO be informed
  7. Right to object
  8. Automated decision making.

RICS-APC (15 decks)

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