CPD

Question 1

What is the importance of creating an audit trail?

Answer 1

Fundamental to integrity of the valaiton process. There should be nothing in you head which is not in the file and nothing in the report that is not in the file.

Question 2

How does keeping an audit trail reduce risk?

Answer 2

Have a copy of decisions made and therefore can assist if any claims made against you. A comprehensive audit trail is the first line of defence against a claim of negligence.

Question 3

What are the typical causes of condensation and mould in buildings?

Answer 3

Lack of ventilation and a lack of heating

Question 4

What are the typical causes for rising damp?

Answer 4

No DPC, bridging of the DPC, defective DPC

Question 5

What are the typical causes for penetrating damp?

Answer 5

Mainly poorly designed or maintained building details – blocked gutters. Roof defects.

Question 6

What are the key components in a red book report?

Answer 6

Identification and status of valuer, client and any other users, property valued, currency, purpose, basis of value, valuation date, special assumptions, assumptions, nature and extent of valuers work, nature and source of information, restrictions on use, distribution and publication, third party liability, departures from RICS standards, valuation, signed

Question 7

What are types of cracking?

Answer 7

Diagonal cracking when changes in subsoil – tends to be base of wall and diagonal crack lintels weak place.
Fine vertical cacks – thermal expansion. Structural components failed.
Horizontal cacks – may indicate wall is failing.

Question 8

What causes cracking?

Answer 8

Settlement, subsidence, changes in subsoil

Question 9

What is the role of a panel in valuation tribunal?

Answer 9

To lead proceedings, to listen, to inquire and decide.

Question 10

What are the four possible outcomes of a challenge case?

Answer 10

Well founded
Agreement
Withdrawal
Decision Notice (Change to RV)
Decision Notice (No change to RV)