Course Type: Verified Course2019 REA
[2019V]
Price: $ 94.95+GST
The 2019 REA 10 hour verified course (5 hour mandatory, 5 hour elective)
Table of Contents
5 hour REA mandatory section which includes Anti-Money Laundering, Communication and Disclosure modules
Table of Contents - Anti-Money Laundering
Real Estate Continuing Education 2019, Anti-money laundering: your compliance requirements, covers the following information:
Learning objectives
Introduction to money laundering
Money laundering in New Zealand
Risk of money laundering activities using real estate
NZ legislation & real estate
Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (the AML/CFT Act)
Real Estate Agents as ‘Reporting Entities’ and captured activities
Money laundering offence
The role of the Department of Internal Affairs (DIA)
The supervisor for real estate agents
Powers of supervisors
Reporting entity: compliance requirements
Statutory requirements of reporting entities
AML/CFT Requirements
Risk Assessment
AML/CFT programme and Compliance Officer
Undertaking due diligence: your obligations
Who is our customer under the AML/CFT Act?
Customer Due Diligence
Levels of customer due diligence
Standard customer due diligence
Simplified customer due diligence
Enhanced customer due diligence
Steps to follow when assessing CDD requirements
Examples of CDD
Example 1 – Standard CDD: residential
Example 2 – Standard CDD: commercial
Example 3 – Simplified CDD: commercial
Example 4 – Enhanced CDD: family trust
Example 5 – Enhanced CDD: residential Politically Exposed Person (PEP)
Reporting obligations under AML/CFT
Financial Intelligence Unit (FIU)
Suspicious activity reports (SARs)
Prescribed transaction reports (PTRs)
Reporting Summary
Relationships with other AML/CFT reporting entities
Recognising red flags
Expectations of the DIA on all licensees
Appendices
Appendix 1 – Excerpts from the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (known as the AML/CFT Act)
Appendix 2 - AML/CFT Act: customer due diligence sections
Appendix 3 - Occasional activity or transaction and definition of customer
Appendix 4 - Identity Verification Code of Practice 2013 / Explanatory Note (Dec 2017)
Appendix 5 - Suspicious Activity
Table of Contents - Communcation Section
Real Estate Continuing Professional Development, Communication: Channels and documentation, covers the following information:
Learning objectives
Research results: an overview
REA / Nielsen Annual Perceptions research July 2018
What are real estate consumers saying?
Interpersonal communication
Definition
Three forms of communication
Interpersonal skills when carrying out real estate agency work
Communication within an agency
Policies and procedures
Agency property files
Oral communication with clients and customers
Electronic communication with clients and customers
Text messaging
Social media
Sending scanned documents between parties
settled.govt.nz
Communication throughout the transaction
The real estate transaction
Communicating with the client throughout the real estate transaction
Communicating with the customer throughout the real estate transaction
Written verification
Record Keeping
Statutory requirements
Appendices
Appendix 1 – Real Estate Agents Act 2008 – ss 72 and 73
Appendix 2 – Real Estate Agents Act (Professional Conduct and Client Care) Rules 2012
Table of Contents - Disclosure Section
Real Estate Continuing Professional Development 2019, Disclosure: Obligations to your client and customer, covers the following information:
Learning objectives
Understanding disclosure
A fresh perspective on disclosure
Misrepresentation
Review of disclosure obligations to clients and customers
Important legislation and the Rules relating to disclosure
Consent of client-vendor or lessor to disclose
Disclosure of personal and/or property-related information
Disclosure obligations in relation to sections 134, 135 & 137
Section 134
Section 135
Section 137
Benefitting financially from a transaction other than from commission
Section 136
Disclosure of material facts to the customer
Information licensees need to disclose
Disclosure of sensitive issues
‘As is/where is’ provisions do not negate disclosure obligations
When to disclose
Methamphetamine: disclosure requirements
What does this mean for licensees?
Prudent Advice
Recognising ‘red flags’
Appendices
Appendix 1 – Real Estate Agents Act (Professional Conduct and Client Care) Rules 2012
Appendix 2 – Real Estate Agents Act 2008, ss 134 to 137
Appendix 3 - The Fair Trading Act 1986
Appendix 4 - Contract & Commercial Law Act 2017