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APC - Competencies & Case Study > Data management / Property records/information systems > Flashcards

Data management / Property records/information systems Flashcards

1
Q

What is the Data Protection Act 2018?

A
  • UK’s implementation of the General Data Protection Regulation 2016 (GDPR)
  • Complete data protect system – as well as governing personal data covered by GDPR, it covers all other general data as previously covered by the 1998 Act
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2
Q

What is GDPR?

A
  • General data protection regulation
  • Relates to personal data
  • Aims to create a single data protection regime for anyone doing business in the EU and to empower individuals to take control of how their data is used by third parties
  • Gives people stronger rights to be informed about how their personal information is used
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3
Q

When did GDPR come into force?

A

25th May 2018

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4
Q

What are the key requirements under GDPR?

A
  • Obligation to conduction data protection impact assessments for high risk holding of data
  • New rights for individuals to have access to information on what personal data is held and to have it erased
  • A data controller decides how and why personal data is processed and is directly responsible for GDPR
  • ‘Data accountability’ ensuring that organisations can prove to the Information Commissioners Office (ICO) how they comply with the new regulations
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5
Q

What happens if you breach GDPR? What is the penalty?

A
  • Data security breaches need to be reported to Information Commissioners Office (ICO) within 72 hours where there is a loss of personal data and a risk of harm to individuals
  • An increase in fines up to 4% global turnover of the company or €20m (whichever is the greater)
  • Policed by the ICO
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6
Q

What does Article 5(1) of GDPR state in relation to the processing of data?

A

Data must be processed lawfully, fairly and in a transparent manner in relation to individuals

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7
Q

What does Article 5(1) of GDPR state in relation to the collection of data?

A

Data must be collected or specified, explicit and legitimate purposes and not further processed in a manner that is incompatible with those purposes

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8
Q

What does Article 5(1) of GDPR state in relation to the relevance of data?

A

Data must be adequate, relevant and limited to what is necessary in relation to the purposes for which they are processed

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9
Q

What does Article 5(1) of GDPR state in relation to the accuracy of data?

A

Data must be accurate and, where necessary kept up to date; every reasonable step must be taken to ensure that personal data that are inaccurate, having regard to the purpose for which they are processed, are erased or rectified without delay

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10
Q

What does Article 5(1) of GDPR state in relation to the form which data is kept in?

A

Data must be kept in a form which permits identification of data subjects for no longer than is necessary for the purposes for which the personal data are processed

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11
Q

What does Article 5(1) of GDPR state in relation to the the processing of data?

A

Processed in a manner that ensures appropriate security of the personal data, including protection against unauthorised or unlawful processing and against accidental loss, destruction or damage, using appropriate technical or organisation measures

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12
Q

Who does Article 5(2) of GDPR state is responsible for the compliance with the principles outlined in Article 5(1)?

A

The data controller shall be responsible for, and be able to demonstrate compliance with the principles

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13
Q

What are the 8 individual Rights under GDPR?

A

AIRER POA:

  1. Right of access
  2. Right to be informed
  3. Right to rectification
  4. Right to erasure
  5. Right to restrict processing
  6. Right to data portability (to use for their own purposes)
  7. Right to object
  8. Rights to automated decision making and profiling (as undertaken by insurance companies
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14
Q

How has your firm changed their data management practices to comply with GDPR?

A
  • Conducted data protection impact assessments i.e. evaluated risks associated with holding information about individuals
  • Ensure data accountability through the appointment of a named data controller
  • Contacted individuals who were on distribution lists to confirm that they wanted to be contacted
  • Trained staff
  • Ensured correct firewalls were in place to ensure appropriate security of personal data
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15
Q

Under GDPR, would you be able to transfer personal data you hold outside of the UK?

A

GDPR restricts transfers of personal data outside the European Economic Area (EEA), unless the rights of the individuals personal data is protected in another way

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16
Q

Who has received the largest fine under GDPR?

A

British Airways received a £183m fine in 2019 after hackers stole the personal data (including login, payment card, name, address and travel booking information) from 500,000 customers

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17
Q

What is the Freedom of Information Act 2000?

A

Gives individuals the right of access to information held by public bodies

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18
Q

What does the Freedom of Information Act 2000 require of public bodies?

A
  • Public body must tell any individual requesting sight of information whether it holds it
  • Normally the public body is required to supply it in 20 working days in the format requested
  • It can charge for the provision of the information
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19
Q

What are the exemptions from the Freedom of Information Act 2000?

A
  • Contrary to the GDPR requirements
  • It would prejudice a criminal matter under investigation
  • It would prejudice a person’s/organisation’s commercial interest
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20
Q

What are the elements of a Non-Disclosure Agreement (NDA)?

A
  • Identification of the parties
  • Definition of what is deemed to be confidential
  • Scope of the confidentiality obligation by the receiving party
  • The exclusions from confidential treatment
  • The length of term of the agreement
21
Q

What are automated valuation models (AVMs)?

A
  • Software systems which can provide property valuations using mathematical modelling combined with a database
  • They are most used for residential property
22
Q

What are the advantages of using AVMs?

A
  • Able to consider a larger number of data points than a traditional valuation approach
  • Saves time, money and resources
  • Removes any human bias or subjectivity
  • Useful for assessing the value of a property portfolio
23
Q

What are the disadvantages of using AVMs?

A
  • Do not take into account property condition (valuation assumes an average condition as an inspection does not occur)
  • Does not take into account nuanced factors such as the view or level of street noise
  • Use transactional data which may lag the actual market i.e. cannot include evidence from properties which might be under offer
24
Q

What do you understand by the term security of data?

A

Means ensuring that data is kept safe from corruption and that access to it is suitably controlled to ensure privacy and protection

25
Q

How can security of data be improved?

A
  • Disk encryption - encrypting data on a secure hard disk drive
  • Regular back ups off site
  • Password protection
  • Use of anti-virus software protection
  • Firewalls and disaster recovery procedures
26
Q

What does copyright mean?

A
  • A set of exclusive rights granted to the author or creator of any original work, including the right to copy
  • These rights can be licensed, assigned or transferred
  • Form of intellectual property
27
Q

What does Crown Copyright cover?

A

All materials created and prepared by the Government, such as laws, public records, official press releases and OS mapping

28
Q

What is a deed?

A

A legal document made under seal

29
Q

How can you prove ownership of land which is not registered with the Land Registry?

A

The Deeds will set out information about the ownership and details of a property

30
Q

What do the Land Registry provide upon request and payment?

A

Copy of the official Title Register for registered property or land in the UK

31
Q

What does Title indemnity insurance cover?

A
  • Protects a party for any claim arising from the title of a property e.g. title defects, restrictive covenants and easements
  • Paid as a one-off premium
32
Q

What are restrictive covenants?

A
  • Agreement to restrict the use of land in some way for the benefit of other land users
  • They are enforceable by successors as they run with the land
33
Q

How can a restrictive covenant be removed?

A

Make an application to the Upper Tribunal (Lands Chamber) but the grounds for discharge are very strict

34
Q

What are MSCI Real Estate indices?

A

• Indices which provide investment performance statistics for owners and investors / fund management

35
Q

What do MSCI Real Estate indices aim to provide?

A
  • Independent benchmarks and market data
  • Provide real estate performance analysis, market indices and research regarding property investment performance and risk to the real estate world
36
Q

How do the MSCI produce their Real Estate indices?

A

Draw on up-to-date valuations of selected UK properties

37
Q

What are the RICS Data Standards, 2018?

A
  • Set of standards to support the capture, verification and sharing of data in a common format
  • They address issues of digital data consistency
38
Q

What data are the RICS Data Standards, 2018 already available for?

A
  • International Property Measurement Standards (IPMS)

* International Construction Measurement Standards (ICMS)

39
Q

What additional data are the RICS Data Standards, 2018 going to be made available for?

A
  • International Valuation Standards (IVS)

* International Land Measurement Standard (ILMS)

40
Q

As a result of our eventual departure from the European Union, will GDPR still apply in the UK?

A

Government has been consistent in saying that it will still adopt all of the provisions of GDPR. Most of them have already be written into UK law through the Data Protection Act 2018

41
Q

What does the colour coding on Title Plans represent?

A
  • Red Line – boundary of registered land
  • Green Line – boundary of land removed from title
  • Green Shading – land excluded from the title but within area
  • Blue shading – right of way on registered land for use by other land
  • Orange shading – right of way on other land for use by registered land
42
Q

What are your Quality Assurance procedures relating to the creation of valuation reports?

A
  • Operate a file checklist approach to ensure that all valuers are working to the same standard
  • The checklist includes: conflict of interest check, terms of engagement, liability caps, due diligence, comparables, methodology, peer reviews, report sign-off
  • Reports are peer reviewed and counter-signed by another valuer
43
Q

What is included in a Land Registry title register?

A
  • A: Property register - description of the property, tenure, the date the property was first registered and any rights it may benefit from e.g. private right of way
  • B: Proprietorship register - name and address of the current owner, when they bought the property, how much was paid for it (if sold since 1 April 2000), any restrictions that limit the power of the owner and the class of the title
  • C: Charges register - mortgages and other financial burdens received on the property. Other rights or interest that limit how the land or property can be used e.g. leases, rights of way or covenants
44
Q

What is a SAR?

A
  • Subject access request

* Gives individuals rights to request any ‘personal data’ held on them. This right is a principle of GDPR

45
Q

What is “personal data” as defined by GDPR?

A

Personal data are any information which are related to an identified or identifiable natural person e.g. the telephone number, email address

46
Q

What professional statement is the RICS planning on releasing relating to the encryption of data and use of cloud-based storage facilities?

A

Data Handling and Prevention of Cybercrime, 2020

47
Q

What will be contained in the professional statement on Data Handling and Prevention of Cybercrime , 2020?

A
  • Best practice and 24 mandatory obligations
  • Advise on matters such as encryption to protect data on portable devices, best practice when using cloud-based storage facilities (e.g. Dropbox, OneDrive and Google Drive) and ensure appropriate data handling policies are in place in the event of a data breach or malware attack
  • It will sit behind the legal requirements of the Data Protection Act 2018 in the UK
48
Q

What should you do when transferring personal data outside of the European Economic Area (EEA) in order to act in accordance with GDPR?

A
  • Confirm whether the restricted transfer is covered by an “adequacy decision” i.e. the data protection framework is robust enough in that region
  • If not it can be covered by an ‘appropriate safeguard’ or ‘exception’
  • Ensure all data is encrypted

APC - Competencies & Case Study (17 decks)

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