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APC Mock Questions - BDG > Additional Questions > Flashcards

Additional Questions Flashcards

1
Q

Why do you want to join the RICS?

A
  1. Status
  2. Recognition
  3. Market advantage
  4. Knowledge
  5. Network
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2
Q

Who is the current President of the RICS?

A

Ann Gray FRICS

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3
Q

What is the name of the review which discusses the future of the RICS?

A

Bichard Review

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4
Q

What is sustainability?

A

Meeting the needs of today without harming the ability of future generations to meet their own needs

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5
Q

What is the basic difference between and lease renewal and a rent review?

A

A lease renewal is a statutory procedure laid down by the Landlord and Tenant Act 1954

A rent review is a contractual procedure contained within the lease

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6
Q

What is a section 25 notice?

A

Landlord notice served to terminate the business tenancy

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7
Q

What is Personal Protective Equipment (PPE) ?

A

Protective clothing, helmets, goggles, or other garments or equipment designed to protect the wearers body from injury or infection

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8
Q

What is asbestos?

A

Asbestos is a hazardous material popular in the 1960’s due to its insulation and fire resistant properties

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9
Q

What is GDPR?

A

General Data Protection Regulation

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10
Q

When would you use NIA as a measurement basis?

A
  1. Estate Agency and Valuation: Shops, supermarkets, offices, business use
  2. Rating: Rating of shops, supermarkets, offices
  3. Property management; calculation of service charge apportionment
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11
Q

What needs to be contained in a valuation report?

A
  1. Terms of engagement
  2. Calculations
  3. Comparibles
  4. Inspection notes
  5. Documents - photographs, site plans etc.
  6. Property name
  7. Purpose of the valuation
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12
Q

What is the role of the RICS?

A
  1. To maintain the highest standards
  2. To protect consumers through strict regulation of professional standards
  3. To be the leading source of information and independent advice.
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13
Q

What is a by-law?

A

It is a regulation made by a local authority or corporation

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14
Q

What do you understand about the 5 principles of better regulation?

A

TPACT

  1. Transparent
  2. Proportional
  3. Accountable
  4. Consistent
  5. Targeted
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15
Q

When were the RICS by-laws updated?

A

February 2020

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16
Q

Why were the Rules of Conduct updated?

A
  1. Simplicity
  2. Examples
  3. More focus on diversity and inclusion
  4. Understand evolving technology
  5. Tackling global challenges
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17
Q

What is the difference between an invoice and an application for payment?

A

Application for payment - VAT is payable at a later date

Invoice - VAT is payable as soon as its raised

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18
Q

What is the difference between a balance sheet and a profit and loss?

A

Balance sheet (live) - includes assets and liabilities

P&L statement - summary of income and expenditure

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19
Q

What is VPS 2?

A

This is for inspections and investigations and must be carried out to provide an adequate report

20
Q

What does VPS stand for?

A

Valuation technical and performance standards

21
Q

When does a MEES not apply?

A
  1. Listed buildings
  2. Leases of 6 months or less
  3. Leases of 99 years or more
22
Q

What is the fine is a let building requires and EPC but does not have one?

A

Up to £5,000 or 10% RV (up to a maximum of £50,000 whichever is greater)

23
Q

Sustainability - What is a DEC?

A

Display Energy Certificate

£500 is not displayed

24
Q

What is a cavity?

A

Two layers of brick with a gap in between

25
Q

What is the brand name of a laser measuring device?

A

Disto

26
Q

What are the ethical principles?

A
  1. Honesty
  2. Integrity
  3. Competency
  4. Service
  5. Respect
  6. Responsibility
27
Q

What is the full title of the Red Book?

A

RICS Valuation - Global Standards

28
Q

What is the current edition of the Red Book and when did it come into force?

A

Effective 31st January 2022

29
Q

What building characteristics would you look for when inspecting a property?

A
  1. Compliance with lease obligations
  2. Defects - leaks, damp, structural movement
  3. Hazardous materials
  4. Building construction - age, specification
30
Q

What are the key dates for MEES?

A

1st April 2018 - Landlord cannot let or renew a lease with EPC below E
1st April 2023 - Landlord cannot continue letting a building with EPC below E
1st April 2027 - Minimum EPC C required
1st April 2030 - Minimum EPC B required

31
Q

What is the Occupiers Liability Act 1984?

A

Confers a duty on the occupier of a premises to any persons other than visitors

32
Q

What is alienation?

A

The right granted in a lease to assign, sublet or share occupation of the premises

33
Q

How do you mitigate hazards?

A

By carrying out risk assessments and ensuring sufficient warnings / measures are in place to reduce risk

34
Q

What is the legal framework for equality and diversity?

A

Equality Act 2010

35
Q

What is a bribe?

A

The offer, promise, giving , demanding or receiving of an advantage or an inducement for an action that is illegal, unethical, or a breach of trust

36
Q

What is professional indemnity insurance?

A

A commercial policy designed to protect business owners, freelancers and self-employed if clients claim service is inadequate

37
Q

What is the Landlord & Tenant Act 1988?

A

landlord to deal with contents diligently and not be unreasonably withheld or delayed

38
Q

When did the Landlord & Tenant (Covenants) Act 1995 come into force?

A

1st January 1996

39
Q

What are the three forms of Dilapidations?

A
  1. Interim Schedule
  2. Terminal Schedule
  3. Final Schedule
40
Q

What are the three reasons why a AGA would not need to be in place.

A
  1. Tenants strong financial position
  2. Pays an appropriate rent deposit
  3. Provides a suitable guarantor
41
Q

What does AGA stand for?

A

Authorised Guarantee Agreements

42
Q

What is the difference between a lease and a licence?

A

Lease - gives the tenant exclusive right of possession in exchange for rent or periodic payment

Licence - gives tenant permission to do something on landlord land that would otherwise constitute a trespass

43
Q

What does PII stand for?

A

Professional indemnity insurance

44
Q

What is a CVA?

A

Company Voluntary Agreement

45
Q

RICS Professional Statement - Real Estate Management what year?

A

2016

46
Q

What did the Landlord and Tenant (Covenant) Act 1995 bring?

A
  1. AGA - Authorised Guarantee Agreement
  2. Relates to the assignment of leases
  3. Gives the landlord more scope for approval of an assignee
47
Q
A

APC Mock Questions - BDG (18 decks)

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