Elements and Performance Criteria

RANGE STATEMENT
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording in the performance criteria is detailed below. Add any essential operating conditions that may be present with training and assessment depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts.
Investment may relate to:
concepts and plans
strategies and placement of capital in property for investment
productive use of property and assets
customer service outcomes.
Parameters may include:
ability to control investment
administrative talent
balancing a portfolio
capacity to improve assets
capital growth versus short-term gains
cash flows
class and type of property
demographics
exit strategies
gearing possibilities
geographic aspects
limits to financial resources
market standing
return on investment

return versus risk
taxation considerations.
Relevant people may include:
accountants
agents
clients
government personnel
interested parties
legal representatives
management and colleagues
members of industry associations
taxation specialists.
Performance measures:
may include:
quantitative and qualitative assessments
may be:
financial and non-financial
statistical and non-statistical.
Relevant information may include:
bank reports
building codes
current and planned property or site developments
deposited, survey and other plans and maps
depreciation schedules
general knowledge of industry
government statistics
industry reports and indices
land title and zoning
market intelligence from industry operators or other interested parties
media reports
performance of comparable properties
permits

published analytical reports
tenancy and other contracts or leases.
Sources may include:
consultants
information services
press clippings
published industry data, including industry indices
third parties
trade journals.
Industry benchmarks may include:
discounted cash flow
employment rates
industry association performance index
inflation rate
internal rate of return
life cycle costing
published vacancies index
tenancy mix.
Analysis may include:
computer modelling
examination of cash flows and other financial projections
examination of collected data
quantitative and qualitative analysis
probability analysis
time series recognition.
Legislative requirements may be outlined and reflected in:
Australian standards
general duty of care to clients
home building requirements
privacy requirements
relevant federal, and state or territory legislation that affects organisational operation, including:
anti-discrimination and diversity
environmental issues
EEO
industrial relations
OHS
relevant industry codes of practice covering the market sector and industry, financial transactions, taxation, environment, construction, land use, native title, zoning, utilities use (water, gas and electricity), and contract or common law
strata, community and company titles
tenancy agreements
trade practices laws and guidelines.
Organisational requirements may be outlined and reflected in:
access and equity principles and practice guidelines
business and performance plans
complaint and dispute resolution procedures
goals, objectives, plans, systems and processes
legal and ethical requirements and codes of practice
mission statements and strategic plans
OHS policies, procedures and programs
policies and procedures in relation to client service
quality and continuous improvement processes and standards
quality assurance and procedure manuals.
Comparative market data may include:
best practice information
national and international benchmarking
inter-organisation comparison data.
Risk may relate to:
age of property
asset allocation and investment spread
borrowing risk
gearing
comparative risk against alternative in investments
competitive development
exit strategy and investment scenario analysis
interest rates
level of regulation

lifestyle choices
market and property sector risks, including:
fluctuations in economic cycle
interest rates
stock market
technology in use
tenancy security
volatility of income and capital.
Business equipment and technology may include:
data storage devices
email
facsimile machines
internet, extranet and intranet
photocopiers
printers
scanners
software applications, such as databases and word applications
work computers.

EVIDENCE GUIDE
The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, the range statement and the Assessment Guidelines for this Training Package.
Overview of assessment
This unit of competency could be assessed through practical demonstration of assessing and formulating a viable property investment strategy. Targeted written (including alternative formats where necessary) or verbal questioning to assess the candidate's underpinning knowledge would provide additional supporting evidence of competence. The demonstration and questioning would include collecting evidence of the candidate's knowledge and application of ethical standards and relevant federal, and state or territory legislation and regulations. This assessment may be carried out in a simulated or workplace environment.
Critical aspects for assessment and evidence required to demonstrate competency in this unit
A person who demonstrates competency in this unit must be able to provide evidence of:
interpreting and applying applicable legal, ethical and organisational requirements
establishing investment requirements and expectations through an assessment of consultation and sourced market information
formulating a property investment strategy, including identified investment options and a defined risk management plan
knowledge of organisation's practices, ethical standards and legislative requirements associated with assessing and formulating a viable property investment strategy
testing the viability and performance of potential investment options against investment parameters
using suitable analysis methods and techniques to identify and assess economic trends and market data and developments.
Context of and specific resources for assessment
Resource implications for assessment include:
a registered provider of assessment services
assessment materials and tools
candidate special requirements
competency standards
cost and time considerations
suitable assessment venue and equipment
workplace documentation.
Where applicable, physical resources should include equipment modified for people with disabilities.
Access must be provided to appropriate learning and/or assessment support when required.
Assessment processes and techniques must be culturally appropriate, and appropriate to the language and literacy capacity of the candidate and the work being performed.

Validity and sufficiency of evidence require that:
competency will need to be demonstrated over a period of time reflecting the scope of the role and the practical requirements of the workplace
where the assessment is part of a structured learning experience the evidence collected must relate to a number of performances assessed at different points in time and separated by further learning and practice with a decision of competence only taken at the point when the assessor has complete confidence in the person's competence
all assessment that is part of a structured learning experience must include a combination of direct, indirect and supplementary evidence
where assessment is for the purpose of recognition (RCC/RPL), the evidence provided will need to be current and show that it represents competency demonstrated over a period of time
assessment can be through simulated project-based activity and must include evidence relating to each of the elements in this unit.
In all cases activity and must include evidence relating to each of the where practical assessment is used it will be combined with targeted questioning to assess the underpinning knowledge. Questioning will be undertaken in such a manner as is appropriate to the language and literacy levels of the candidate and any cultural issues that may affect responses to the questions, and will reflect the requirements of the competency and the work being performed.