Assessment Requirements for CPPDSM4085 Handle strata community funds held on trust

Release: 1

Assessment Requirements for CPPDSM4085 Handle strata community funds held on trust

Modification History

Release 1.

New unit of competency.

This version first released with CPP Property Services Training Package Version 5.

Performance Evidence

A person demonstrating competency in this unit must satisfy all of the elements, performance criteria, foundation skills and range of conditions of this unit.

The person must also correctly handle four of the following situations relating to the strata community funds held for four different clients:

contractor payments

discrepancy in client account

insurance claims or refunds

lot owner’s contribution

processing non-mutual income.

In doing the above, the person must:

identify and follow procedures for handling strata community funds held on trust

process the funds held on trust received from the above clients.

Knowledge Evidence

A person demonstrating competency in this unit must demonstrate knowledge of:

common discrepancies and non-compliances associated with handling strata community funds held on trust

ethical requirements relating to handling strata community funds held on trust

organisational administrative routines and practices for handling strata community funds held on trust

organisational information technology and management systems used when handling strata community funds held on trust

key requirements of federal, state or territory legislation and local government regulations relating to strata community funds held on trust

risks and risk management strategies relating to strata community funds held on trust

security requirements for strata community funds held on trust

situations in which funds are held on trust by strata manager companies

sources of information on requirements for handling strata community funds on trust.

Assessment Conditions

The following must be present and available to learners during assessment activities:

equipment:

computer system with internet, email and printing facilities

specifications:

organisational policies and procedures for handling strata community funds

relevant codes, standards, legislation and regulations relating to handling strata community funds on trust

relationship with team members and supervisor:

member of a work team in a property industry context.

Assessor requirements

As a minimum, assessors must satisfy the assessor requirements in the Standards for Registered Training Organisations (RTOs) current at the time of assessment.

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=6f3f9672-30e8-4835-b348-205dfcf13d9b