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RICS APC - Residential (TS NBS) > Client Care - Level 2 > Flashcards

Client Care - Level 2 Flashcards

1
Q

What components must a CHP include?

A

RICS provides a template to assist firms which states;

  1. complaint reviewed by senior member of firm or complaints officer
  2. the compliant reviewed by independent 3rd party
  • notify PI insurer of complaint
  • must include the contact details of those who will deal with the complaint
  • must include a redress mechanism
  • must be clear simple
  • must be free except stage 2, but fees covered by the complainant
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2
Q

What is client care?

A

Looking after a client’s best interests and providing an appropriate service that satisfies their needs.

Can be achieved by 1. professionalism 2. competence 3. trust 4. communication

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3
Q

When should you decline an instruction of new work?

A
  1. Conflict of interest
  2. Outside scope
  3. Illegal activities
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4
Q

What is a conflict of interest?

A

Where there is reduced impartiality as there is a pre-existing relationship which affects the duty to deliver services for a client

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5
Q

How would you process if a client wanted you to work with them despite a conflict of interest?

A

I would obtain informed consent in writing.

I would ensure that the client is fully informed about the Conflict of Interest and the associated risks and other options available.

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6
Q

What is a client brief?

A

Provide a firm foundation of the intention of the project.

A formal statement of the objectives and functional requirements.

Provides sufficient details so tasks can be executed by any team.

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7
Q

How would you limit the risk of working with a client who may be financially unstable?

A

I would carry out a screening process;

  1. Credit check
  2. Company Search
  3. Review their accounts
  4. Seek references to judge reliability.
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8
Q

If you client asks you to lower your fees because of their limited funding, what would you do?

A

The client would need to pay the agreed fee or negotiated to reduce the scope of services.

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9
Q

Who are your clients?

A

An individual or firm to who you or your firm provide a service to.

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10
Q

How do you establish your clients’ objectives?

A

The client brief

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11
Q

What influences how a fee is calculated?

A
  1. Time spent multiplied by an hourly rate
  2. Percentage of compensation received
  3. a fixed fee agreed on a scope of works
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12
Q

What is a KPI?

A

Key Performance Indicator

Enables a team to monitor performance and make smart decisions.

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13
Q

How are KPIs used?

A
  1. Goal measurement
  2. Providing information and feedback
  3. Education
  4. Staff morale
  5. Consistency and continuity
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14
Q

When have you demonstrated successful communication with your client?

A

Covid - booking jobs/H&S

Advising outside SLA

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15
Q

What do you understand about client care?

A
  • process of understanding client’s requirements and complaints.
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16
Q

How will you identify and utilise the systems and processes for managing client care?

A
  1. complaints procedure
  2. satisfaction questionnaires
  3. Client feedback meetings
  4. Lessons learned workshops
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17
Q

How do you act on feedback from a client?

A
  1. Listen
  2. Understand their needs
  3. Take actions required
  4. Communicate updates
18
Q

What is the RICS Client’s money protection scheme?

A

client’s protection to compensate for the losses of money

  • Gives protection to members of the public by making funds available for their reimbursement when all other avenues have been exhausted.
  • The RICS firm repay the losses via insurance or its assets.
19
Q

How do you create a good relationship and build trust?

A
  1. Communication
  2. listening and delivering
  3. Providing clear and reasoned advice
20
Q

What would you do if you were ask to survey the structure of a building

A

I would act within my area of expertise and act with integrity and appoint a competent professional.

21
Q

What does Countering bribery and corruption, money laundering and terrorist financing 1st edition include?

A

3 parts

1) Mandatory requirements for anti-bribery and corruption/anti-money laundering/terrorist financing. ​
2) Guidance - good practice
3) Supplementary guidance

22
Q

What are the mandatory requirements of Countering bribery and corruption, money laundering and terrorist financing in relation to bribery and corruption?

A

In relation to bribery and corruption RICS-regulated firms must: ​

  • BRIBE - not offer or accept a bribe ​
  • PLANS -in place to comply
  • REPORT -activity that breaches anti-bribery and corruption laws
  • EVALUATE - perform periodic evaluations of risks that may lead to the bribery/corruption
  • RETAIN - information detailing how firm met the requirements of this professional statement. ​

RICS members must comply with the above and:
- KNOWLEDGE - ensure that they have adequate knowledge of bribery and corruption to comply with this professional statement ​

23
Q

What are the mandatory requirements of Countering bribery and corruption, money laundering and terrorist financing in relation to money laundering and terrorist financing?

A

Firms and Members must: ​

  • FACILIATE - not facilitate money laundering or terrorist financing ​
  • TRAINING - have systems/training to comply with these laws
  • REPORT - report any suspicions of money laundering or terrorist financing activities
  • EVALUATE - evaluate/ review risks that business relationships present to money laundering or terrorist financing ​
  • CHECKS -conduct checks on clients and customers ​
  • RELIANCE - use reliance only where there is an appropriate level of confidence in the quality of the information
  • IDENTITY - verify the identity of client by undertaking identity checks and identify purpose of the transaction​
    RECORD - retain information detailing how the firm has met the requirements of this professional statement.
24
Q

What are the three types of CoI?

A
  • Party
  • Own interest
  • Confidential information
25
Q

What is a party conflict?

A

Where duty of RICS member/firm acting for a client

conflicts with

duty owed to another client in the same transaction/assignment.

26
Q

Own interest conflict?

A

Duty of RICS member/firm for a client

conflicts with

their own interests

27
Q

Confidential information conflict?

A

Conflict of the duty of an RICS member to provide material information to one client

and the duty of that RICS member to another client to keep the information confidential.​

28
Q

When can informed consent be sought?

A

where the RICS member/firm is satisfied that proceeding despite a Conflict of Interest is: ​​

(a) in the interests of all of those who are or may be affected ​
(b) is not prohibited by law, ​

and that the conflict will not prevent the member/firm from providing competent and diligent advice

29
Q

Client money handling 1st edition, October 2019

A
  • firm should preserve the security of clients’ money
  • firms holding clients money must ensure they are registered with the appropriate appropriate RICS scheme: ​
  • e.g RICS Client Money Protection Scheme for Surveying Services
30
Q

Client money - mandatory requirements

A

Rule 8 of Rules of conduct for firms ​
Must:​
- HOLD - Hold client money in an account that only the RICS firm has access to ​
- ONLY - Hold only client money ​
- TITLE - Title of account – ‘includes client’ and ‘name of firm’​
- IMMIDIATE - Funds must be immediately available ​
- PROMPTLY - Ensure client money paid into account promptly ​
- RECORDS- Keep records and accounts ​
- COMPLEY - Comply with anti-money laundering legislation, rules, regs ​

​

​

​

31
Q

Systems and Procedures Managing Process of Client Care

A

Terms of Engagement
CoI
High Standard of Service
Complaint Handling Procedure

32
Q

NBS CHP

A

Respond within 7 days advising the case is being investigated

Full response within 21 days
- advise actions taken as a result of your complaint

Includes (ADR)
- The Property Ombudsman Service

Complaint log

33
Q

PII turnover and minimum level of indemnity

A

£100k or less - £250k
£100,001 to £200k - £500k
£200,001 and above - £1,000,000

34
Q

Tell me about the different stakeholders you have come across in your role.

A
  • Employer

- Applicant/purchaser

35
Q

Tell me about how you have tailored your client care to one of these stakeholders.

A
  • Owe a duty of care to the applicant as well as the lender

- Therefore ensured to report all serious defects as the purchaser may not commission their own survey

36
Q

Why is it important to you to set objectives?

A
  • Ensure client satisfactions

- Ensure met the aims of the instruction

37
Q

Tell me about your duty of care towards your clients.

A
  • Duty of care to Nationwide/ Lender
  • Duty of care to the purchaser (under Yianni v Evans and Simith v Bush)
  • implied duty of care towards the purchaser,
38
Q

How have you defined your scope of services within the limits of your competence and PI insurance?

A
  • Have a mandate set for capital valuations

- Do not undertake work outside level of competence/experience

39
Q

How do you set fees?

A
  • Fee scale is set by Nationwide

- Tied to the capital value of the subject

40
Q

How have you used standard forms of appointment?

A
  • Standards terms of engagement are used for each instruction
41
Q

What insurance requirements are you aware of (both legal and RICS)?

A
  • PII
  • Public liability insurance
  • Employers liability insurance
  • Business buildings insurance
42
Q

What KPIs might you agree with a client to monitor performance?

A
  • Feedback document
  • SLA
  • Timeframe
  • Financial

RICS APC - Residential (TS NBS) (18 decks)

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