Data Management Flashcards

Property Elite (19 cards)

1
Q

Three principles of GDPR / Data Protection Act 2018?

A
  1. Lawfulness, fairness, and transparency; 2. Purpose limitation (collected for specific reasons); 3. Data minimisation (only collect what is necessary).
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2
Q

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

A

They sit alongside GDPR and cover electronic marketing (emails/texts), cookies, and security of public electronic communication services.

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3
Q

What is copyright and can it be transferred?

A

A legal right protecting original work (e.g., plans or reports). It can be transferred or “assigned” via a written contract.

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4
Q

What is the Freedom of Information Act (FOI) 2000?

A

It provides public access to information held by public authorities, unless an exemption applies.

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5
Q

What is the Limitation Act 1980?

A

It sets time limits for bringing legal claims (e.g., 6 years for simple contracts, 12 years for deeds). This dictates how long files should be retained.

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6
Q

Limitations of primary vs. secondary data?

A

Primary (direct surveys) is accurate but expensive/slow. Secondary (HMLR, CoStar) is fast but may be outdated or lack specific detail.

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7
Q

Deed vs. Registered Title?

A

A Deed is a legal document used to transfer interest; a Registered Title is the official record held by HM Land Registry (Official Copy).

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8
Q

What is an Index Map?

A

An HMLR tool used to see if land is registered and to identify the title numbers affecting a specific geographic area.

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9
Q

Encryption vs. Firewall?

A

Encryption scrambles data so only authorized users can read it; a Firewall monitors/blocks unauthorized network traffic.

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10
Q

What is BIM and how is it used?

A

Building Information Modelling is a digital representation of a building’s physical and functional characteristics, used for design, construction, and facilities management.

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11
Q

What is an AVM?

A

Automated Valuation Model—software that uses mathematical modeling and databases (like Rightmove or Hometrack) to estimate property values.

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12
Q

What is ISO 9001?

A

The international standard for Quality Management Systems (QMS), ensuring consistent service and client satisfaction.

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13
Q

Electronic signatures at Land Registry?

A

Yes, HMLR now accepts “witnessed electronic signatures” and “Mercury” signatures for many property deeds.

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14
Q

How have you obtained data from in-house/published sources?

A

I accessed the firm’s internal comparable database for previous lease renewals in the same building and used CoStar and HM Land Registry for market evidence.

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15
Q

How have you used paper-based or electronic filing systems?

A

I maintained a digital project folder on our EDMS (e.g., SharePoint), ensuring all files followed the standard naming convention: YYYYMMDD_Client_Address_DocType.

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16
Q

How have you interpreted legal language in property records?

A

I reviewed an Official Copy of Register of Title to identify restrictive covenants and easements that could impact a Red Book valuation for a client.

17
Q

How have you ensured good data security?

A

I ensure all client-sensitive reports are password-protected or shared via a secure data room (e.g., Intralinks) rather than standard email.

18
Q

How have you searched for comparable evidence?

A

For a rent review, I used BCIS for rebuilding costs and searched local agent websites and Rightmove Plus to find settled deal evidence.

19
Q

How have you used data searches for due diligence?

A

I performed Know Your Customer (KYC) and Anti-Money Laundering (AML) checks using platforms like SmartSearch before accepting a new instruction.