- What is the definition of ‘risk’ and how is it measured?
- What is meant by the term “duty of care” in relation to an agency?
- To whom does the agency owe a duty of care?
- Name 3 different types of risk that EACH of the below agency clients/customers may be exposed to:
- Name 2 different types of risk that EACH of the below agency stakeholders may be exposed to:
c) (C ) Staff
- What are (3) of risks associated with property sales?
- What are (3) risks associated with property management?
- What are (3) risks associated with administration of the agency? (ie management, systems, practices etc)
- Consider the meaning of “Material Fact”.
a) What are the risks relating to non-disclosure of material facts?
b) What can you do to minimise these risks?
- What sources of information can help to identify risks that may affect the agency?
- What tools can be used to help identify & analyse risks?
- List (5) potential CAUSES of risk for a real estate agency.
- For the 5 causes of risk you identified (above), what would be the potential CONSEQUENCES of those risks occurring and who would they affect?
- What is the four-step risk management process?
- What are the main steps to ANALYSE risks that you identify?
- What are the main categories of risk for an agency?
- What are the (5) methods used to manage/treat risks?
- Explain how agency policy and procedures help reduce risks to agencies and consumers.
- List (5) types of insurance relevant to an real estate practice?
- What are (3) strategies you can monitor the risk environment in your agency?