Quick Knowledge Check

Before moving on, take a moment to reflect on what you’ve learned in this module. The short quiz below is designed to help you track your understanding and highlight anything you may want to revisit.

QUIZ

1. Who is responsible for verifying the buyer's identity and address?

A. Seller

B. Solicitor

C. Developer

D. Estate Agent

2. Which of the following is a key reason for conducting Customer Due Diligence (CDD)?

A. To help clients find investment opportunities

B. To determine the market value of a property

C. To identify and verify the client's identity

D. To calculate stamp duty liability

E. To check for planning permission

3. Which search helps verify any restrictions affecting the property's usage?

A. Land Registry Search

B. Mortgage Offer Review

C. Local Authority Searches

D. Title Abstract Search

4. What is the primary purpose of reviewing a mortgage offer before completion?

A. To assess market trends

B. To verify the buyer's income

C. To confirm terms like interest rate and repayment type

D. To value the property

E. To register the mortgage with the HMRC

5. Which of the following is NOT typically reviewed by the buyer's solicitor?

A. Mortgage affordability

B. Local authority planning restrictions

C. Environmental risks

D. Seller's marketing strategy

6. What document verifies the property's title and ownership?

A.Lease Agreement

B. Title Deed

C. Property Information Form

D. Sales and Purchase Agreement

7.Who is typically involved in handling the money exchange during a property transaction?

A. Estate agent and surveyor

B. Buyer and mortgage broker

C. Seller and local council

D. Buyer's and seller's solicitors

E. Land Registry and HMRC

Answers:

1. B, 2. C, 3. С, 4. C, 5. D, 6. B, 7. D