Data Management

Question 1

What is the Freedom of Information Act?

Answer 1

UK Legislation that gives individuals the right of access to information held by public bodies

Question 2

What is a Subject Data Request?

Answer 2

A request made by an individual to access the personal data an organisation holds about them under the Data Protection ACT 2018

Question 3

How is your data backed up - is it stored remotely in a cloud?

Answer 3

At Mileway, we use Microsoft One Drive to store our data. OneDrive is a cloud based storage system.

Question 4

What legislation do you adhere to when handling data?

Answer 4

Data Protection Act 2018 and GDPR

Question 5

What are the General Data Protection Regulations?

Answer 5

Sets out seven key principles for how personal data must be handled and protected

Question 6

What is copyright?

Answer 6

A set of exclusive rights granted to the author or creator of any original work, including the right to copy

Question 7

What is intellectual property and can it be transferred?

Answer 7

Refers to the creation of the mind such as reports that are legally protected and can be transferred through assignment or licenced

Question 8

Tell me about the Retention of Files and Limitation Act 1980

Answer 8

File retention is influenced by the Limitation Act 1980, which sets time limits for legal claims. Contract and negligence claims are generally limited to six years, although latent damage claims may arise up to fifteen years after the event

Question 9

What is the Data Protection Act 2018?

Answer 9

Uk legislation that governs how person data is collected, processed, stored and protected.

Question 10

What are the seven principles of GDPR?

Answer 10

• Lawfulness, Fairness and Transparency • Purpose Limitation • Data Minimisation • Accuracy • Storage Limitation • Integrity and Confidentiality (Security) • Accountability

Question 11

What are the 8 individual rights under GDPR?

Answer 11

Right to be: • Informed • Access • Rectification • Erasure • Restrict processing • Data portability • Object • Automated decision making and profiling

Question 12

What are the fines for non-compliance with GDPR?

Answer 12

• Policed by the Information Commissioners Office • Up to 3% of global turnover or £17.5m whichever is greater

Question 13

What do you need to do if you have a data breach?

Answer 13

Notify the Information Commissioners Office (ICO) within 72 hours of the breach occuring

Question 14

How do you keep clients information secure?

Answer 14

• Cloud based storage • Password protected documents • Clear desk policy • Lock computer when away from desk

Question 15

How did you verify the reliability of comparable evidence sourced from databases such as CoStar and EGI?

Answer 15

I used the triangulation method, and spoke to the agents who dealt with the transaction to confirm the details held on these data bases.

Question 16

Why was it important to contact agents directly to confirm transaction details, and what key information did you seek to verify?

Answer 16

To ensure that the comparable evidence details were correct, I asked them to confirm the key lease terms.

Question 17

How did you ensure that the comparable evidence you relied upon was truly comparable to the subject property?

Answer 17

By verifying the details

Question 18

What adjustments did you typically consider when analysing comparable lettings or investment transactions?

Answer 18

• Location • Specification • Size • Lease terms

Question 19

Why was it important to ensure compliance with GDPR when handling transactional data, and how did you apply Article 5(1) principles in practice?

Answer 19

To protect individuals’ personal information and ensure it is processed lawfully and securely. I applied Article 5(1) principles by ensuring data was used: • For legitimate purposes • Limited to what was necessary • Stored securely • Retained in line with my firms policies

Question 20

How did you analyse arrears data to identify emerging risks to your client’s income stream?

Answer 20

I analysed collection rate stats, to identify where tenants starting to become later with payments.

Question 21

Why was it important to track month-on-month arrears movements rather than reviewing arrears in isolation?

Answer 21

Because this showed trends in time over a specific moment in time

Question 22

What steps did you take to ensure sensitive financial information was handled securely and in line with data protection requirements?

Answer 22

I ensured that the data was held in a password protected file which only the property management and client team could access.