Simple things to check would be the hose checks. Make sure that there is no leakage where hoses connect.
I am surprised the NRMA did not pressure test the cooling system. Basically, the system is pumped up and any leak should reveal itself.
It could be more serious where a head gasket has blown and this is either sucking coolant in (if the failure is near an inlet valve) and out the exhaust, or if it is near the cylinder where the cooling system is pressurised by the engine and this pumps the coolant out. This can be checked with a compression test.
Either way, it needs to be looked at. First start off with a pressure test.
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