Course Title: Establish and manage a trust account

Part A: Course Overview

Program: C5324 Diploma of Conveyancing

Course Title: Establish and manage a trust account

Portfolio: Vocational Education

Nominal Hours: 60

Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

Course Contact: Doug Gourlay

Course Contact Phone: +61 3 9925-5944

Course Contact Email: doug.gourlay@rmit.edu.au

Course Description

This unit describes the performance outcomes, skills and knowledge required to establish, manage and administer a trust or controlled money account in a conveyancing practice.

It encompasses reviewing for compliance with trust accounts requirements, establishing and managing trust accounts, maintaining records of trust transactions, and monitoring and reviewing of trust accounts.

This unit may apply to job roles subject to licensing, legislative, regulatory or certification requirements so Commonwealth, State or Territory requirements should be confirmed with the relevant body.
 

Pre-requisite Courses and Assumed Knowledge and Capabilities

None

National Competency Codes and Titles

National Element Code & Title:	FNSCNV506A Establish and manage a trust account
Elements:	1. Review trust account for compliance with trust account requirements 2. Establish and manage trust accounts 3. Manage and control trust accounts 4. Monitor and review trust accounts 5. Authorise and verify trust accounts

Learning Outcomes

Overview of Assessment

Assessment methods have been designed to measure achievement of the requirements in a flexible manner over a range of assessment tasks, for example:

verbal or written questioning on underpinning knowledge and skills which may include formal examinations
setting and reviewing workplace projects and business simulations or scenarios
evaluating samples of work
accessing and validating third party reports
group and/or individual projects

Students are advised that they are likely to be asked to personally demonstrate their assessment work to their teacher to ensure that the relevant competency standards are being met. Students will be provided with feedback throughout the course to check their progress.