59564 – Learner assessmentExplain aspects of the Unit Titles

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aspects of the Unit Act 2010 for real estate personnel (22311 v4)NZ Certificate in Real Estate (Salesperson) (Level 4)Learner Name (First / Last)Company / EmployerNational Number (NSN) (if known)Skills NumberPhone NumberEmailThis document is strictly confidential and the contents must not be disclosed to any unauthorised persons or used in any unethical or illegal manner. This document is protected by Copyright Act 1994 © and is not to be copied or reproduced in any form unless written permission is given by The Skills Organisation Incorporated. © 2016 The Skills Organisation IncorporatedIntroductionInformation about the contentThis assessment is part of a module for the New Zealand Certificate in Real Estate (Salesperson) (Level 4) programme.This is the assessment for the following unit standard:22311 V4 Explain aspects of the Unit Act 2010 for real estate personnelPeople who hold this unit standard can explain aspects of the Unit Act 2010 for real estate personnel.Information on completing the assessmentYou may have been given this assessment material by your organisation, or you may have downloaded the material from an online site.This is an open book assessment. All answers must be in your own words, except when required to from official documents such as legislation and codes of practice. This shows you understand what you are explaining. Copying directly from any learning resource is considered plagiarism and will lead to your assessment being invalid (not officially accepted).This assessment includes both multi-choice and short answer questions.Feedback on the assessmentThe Skills Organisation values feedback so that we can continue to improve our assessment resources. We invite you to send us feedback about any areas you found difficult to use in this assessment, or suggestions you have for changes and improvements. email your feedback to resourcedeveloper@skills.org.nzLearner’s answers should be consistent with the Unit Act 2010 and its Regulations.QuestionsAnswers to all questions must be consistent with the Unit Act 2010. used or defined in the Unit ActTerms related to the titleQuestions 1 to 5 refer to terms relevant to the Computer unit title register (certificate of title) below.Question 1The Computer unit title register (certificate of title) shows that Unit 1H is the principal unit owned by James and Amanda Person.Explain the meaning of the word ‘unit’ in terms of a unit title development. ER 1.1Question 2Explain the meaning of ‘principal unit’. ER 1.1Question 3Give one residential example and one commercial example of a principal unit. ER 1.1Question 4The description of this property refers to a share of an ‘Accessory Unit’.What is an accessory unit? ER 1.1Question 5Give two examples of accessory units. ER 1.1The second page of the Computer unit title register (certificate of title) on page 6 is shown below. It is the unit plan.Questions 6 to 8 refer to terms used on this diagram.________________________________________________________________________________________Transaction Id 49958564 Search Copy Dated 21/03/18 10:42 am, Page 2 of 2Client Reference bmcdowe001 Register OnlyQuestion 6The unit plan shows an area of ‘common property’.What is meant by common property? ER 1.1Question 7Give two examples that might be common property in a unit title situation. ER 1.1Question 8Explain how common property is owned in a unit title situation. ER 1.1Body corporateDefinition of a body corporateQuestion 9Unit title developments operate under a body corporate.What is a body corporate? ER 1.1Question 10Explain how the body corporate membership is affected when a unit owner sells their unit. ER 1.1Body corporate operational rulesQuestion 11What is the purpose of body corporate operational rules? ER 1.1Question 12Explain how body corporate operational rules are developed. ER 1.1Question 13Who must follow the body corporate operational rules? ER 1.1Determining ownership interest and utility interestQuestion 14In terms of the Unit Act, what is meant by ownership interest and who calculates it? ER 1.1Question 15Which of the following matters would the ownership interest be used to determine? ER 1.1Select the three answers that apply.0A. the unit owner’s beneficial interest in the common property0B. The extent of the obligation of the owner of the principal unit in respect of capital improvements to their accessory unit.0C. the unit owner’s beneficial interest in other units in the development.0D. the unit owner’s share in the underlying land if the unit plan is cancelled0E. the rights of the owner of the principal unit regarding distribution of any surplus money of a capital improvement fund.Question 16What is the utility interest, and how is it set? ER 1.1Question 17Which of the following matters would the utility interest be used to determine? ER 1.1Select the two answers that apply.0A. the unit owner’s beneficial interest in the common property0B. The rights of the owner of the principal unit regarding contributions levied to funds or operating accounts0C. the extent of each owner’s liability if the body corporate is sued or sues someone else0D. the unit owner’s share in the underlying land if the unit plan is cancelled0E. The rights of the owner of the principal unit regarding distribution of any surplus money in funds or operating accountsRoles, powers and duties of a body corporateQuestion 18Explain the purpose of a body corporate. ER 1.2Question 19A body corporate has a range of duties specified under the Act.Which of the following are duties of a body corporate? ER 1.2Select the three answers that apply.0A. carry out any work ordered by the council on an individual unit0B. pay a levy into the long-term maintenance fund0C. keep and maintain a register of all the owners of principal units and accessory units on the plan0D. insure the buildings and other improvements on the land to their full insurable value0E. keep accounting records and submit yearly financial statements to an independent auditor and provide financial statements with notice of AGMQuestion 20Explain one of the powers and duties the body corporate must not delegate. ER 1.2Requirements of body corporate in terms of maintenanceQuestion 21What are the requirements of the body corporate in terms of general repair and maintenance? ER 1.5Question 22What are the requirements of a body corporate in terms of establishing a long-term maintenance plan? ER 1.5Select the two answers that apply.0A. Must cover a period of at least 15 years from the date of the plan or the last review of the plan0B. Must cover a period of at least 10 years from the date of the plan or the last review of the plan0C. Must list day-to-day maintenance tasks0D. Must establish and maintain a long-term maintenance plan0E. Must include a review of the day-to-day maintenance planQuestion 23Explain the purpose of a long-term maintenance plan. ER 1.5Question 24What are the requirements of a body corporate in terms of funding a long-term maintenance plan? ER 1.5Select the three answers that apply.0A. May decide, by special resolution, not to establish a long-term maintenance fund0B. Must keep the long-term maintenance fund account separate from other body corporate accounts0C. Must include the long-term maintenance fund account within the operating account0D. Must never approve spending over the specified amount on any 1 maintenance item0E. Must set up and manage a special fund to enable them to carry out the long-term maintenance planPowers of body corporate in terms of maintenanceQuestion 25What are the powers of the body corporate in terms of access to units for maintenance and repairs? ER 1.5Question 26What powers do the body corporate have to recover costs of maintenance and repairs from unit owners? ER 1.5Special resolution of a body corporateQuestion 27Several sections of the Unit Act relate to a ‘special resolution’.What type of body corporate decisions require a ‘special resolution’? ER 1.1Select one answer.0A. decisions to call an annual general meeting0B. decisions that relate to the maintenance of the ownership register0C. decisions that require payment from the operating account0D. decisions that could have significant consequences for the unit ownersQuestion 28Give one example where a ‘special resolution’ might apply. ER 1.1Question 29What are the requirements for a special resolution to pass? ER 1.1Select one answer.0A. 50% of all the eligible voters who vote on the resolution must vote in favour0B. 60% of all the eligible voters who vote on the resolution must vote in favour0C. 75% of all the eligible voters who vote on the resolution must vote in favour0D. 80% of all the eligible voters who vote on the resolution must vote in favourBody corporate committeeDefinition of a body corporate committeeQuestion 30What is a body corporate committee? ER 1.1Powers and duties of a body corporate committeeQuestion 31The following questions relate to the powers and duties of a body corporate committee.What powers and duties does a body corporate committee have and how do they come about? ER 1.3Select the two answers that apply.0A. powers and duties delegated to the committee by special resolution of body corporate0B. powers and duties delegated to the committee by verbal notification from body corporate0C. powers and duties delegated to the committee by written notice from body corporate (except those in subsection 2 of s108)0D. powers and duties delegated to the committee by written notice from the land developer0E. powers and duties delegated to the committee by 40% of the unit ownersQuestion 32Explain the reporting requirements for body corporate committees. Include in your answer the information the reports must include. ER 1.3Question 33Explain what the body corporate can do if it the body corporate committee is not exercising its delegated powers and duties as required. ER 1.6Unit ownersDefinition of a unit ownerQuestion 34What is the definition of an owner under the Unit Act 2010? ER 1.1Roles, powers and duties of unit ownersQuestion 35Owning a unit title property comes with many responsibilities which are specified in the Unit Act. The following questions relate to some of these responsibilities.What expenses are unit owners required to meet in relation to the body corporate? ER 1.4Question 36The owner of a principal unit must allow the body corporate (or its agents) to enter the unit at any time in an emergency and at all reasonable hours after reasonable notice for other purposes.For what reasons can the body corporate (or its agents) enter the unit at all reasonable hours after reasonable notice? ER 1.4Select the four answers that apply.0A. to inspect and ensure compliance with council bylaws0B. to maintain, repair or renew any building elements that affect more than 1 unit or the common property, or both.0C. to maintain, repair or renew infrastructure for services and utilities that serve more than one unit0D. to maintain, repair or renew building elements affecting neighbouring properties0E. to maintain, repair or renew any common property0F. to inspect and ensure compliance with operational rules and owner’s and occupier’s obligations under the ActQuestion 37What are the requirements if unit owners want to make any additions or structural alterations to the unit? ER 1.4Non-compliance by a unit owner and the body corporate committeeNon- compliance by body corporate committeeQuestion 38If a body corporate committee fails to comply with its legal responsibilities under the law, and informal discussions have not resolved the issue, the body corporate can take action against the committee.What action can the body corporate take in this situation? Include the relevant section of the Act in your answer. ER 1.6Non-compliance by unit ownersQuestion 39If the unit owner doesn’t pay money due, what monies can the body corporate recover from a unit owner if they owe a debt under the Unit Act? ER 1.6Select the three answers that apply.0A. Money spent on repairs and other work inside a neighbour’s unit0B. Unpaid levies or contributions0C. Money spent on repairs and other work mostly for the benefit of their unit0D. Any costs incurred in doing any repair work caused by a wilful or negligent act by the owner, which should have been their responsibility0E. Unpaid water and land ratesQuestion 40Identify the sections of the Unit Act associated with your answers to Question 39? ER 1.6Question 41If the body corporate and the owner (or former owner) of a principal unit are in dispute over non-compliance of the other party, and they have not been able to resolve the problem, the Tenancy Tribunal is able to provide mediation or adjudication.Give one action the Tenancy Tribunal can require of the parties as a remedy. Include the relevant section of the Act in your answer. ER 1.6Question 42Explain one action that can be taken if a body corporate is not complying with their powers and duties. Include the relevant section of the Act in your answer. 22311 ER 1.6Disclosure statementsDisclosure statements are required at different stages of the conveyancing process when a unit title property is being sold.The questions in this section relate to these disclosure statements.Pre-contract disclosure statement (PCDS)Question 43What is a pre-contract disclosure statement (PCDS)? ER 1.1Question 44Which of the following are examples of the information required in a pre-contract disclosure statement (PCDS)? ER 1.1Select the three answers that apply.0A. Details of maintenance that the body corporate proposes to carry out in the year following the date of the statement0B. The amount of contribution levied under section 121 for the unit being sold0C. The annual land and water rates for any unit being sold0D. Details of the maintenance the body corporate has carried out in the year before the date of the statement0E. The period covered by any contribution levied under section 121 for the unit being soldQuestion 45When and in what form must the pre-contract disclosure statement (PSDS) be provided? ER 1.1Pre-settlement disclosure statement (PSDS)Question 46What is a pre-settlement disclosure statement (PSDS)? ER 1.1Question 47Which of the following are examples of the information required in a pre-settlement disclosure statement (PSDS)? ER 1.1Select the three answers that apply.0A. Date of last increase in levy0B. Manner of payment of levy0C. Date on or before which payment of the levy is due0D. Lot number0E. Body corporate numberQuestion 48When must the pre-settlement disclosure statement (PSDS) be provided? ER 1.1Question 49What document must accompany the pre-settlement disclosure statement (PSDS) and what is the purpose of this document? ER 1.1 disclosure statement (ADS)Question 50What is an disclosure statement (ADS)? ER 1.1Question 51Which of the following are examples of the information required in an disclosure statement (ADS)? ER 1.1Select the three answers that apply.0A. Details of regular expenses that are incurred at least once a year0B. Contact details for all unit owners in the unit title development0C. Balance of every fund or bank account held or operated by the body corporate at the date of the last financial statement0D. Amounts of invoices paid by the body corporate in the two months prior to the date of the statement0E. Amounts owed to the body corporate at the date the statement is requestedQuestion 52When must a request for an ADS be made? ER 1.1Question 53When must the disclosure statement (ADS) be provided? ER 1.1Question 54What happens if the disclosure statement (ADS) is not provided in the required timeframe? ER 1.1Assessor notes from discussion with the learner’s verifier (if needed)Assessor feedback to the learnerAssessor checklistUnit Standard Level Credit Title Date assessment met Credits reported to Skills (?)22311 v4 4 2 Explain aspects of the Unit Act 2010 for real estate personnel?Assessor detailsName:Skills Assessor Number:Email:Phone:The Skills Organisation0508 SKILLS (0508 754 557)Skills.org.nz

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