General (Ready) Flashcards
What is the difference between balance sheet and income statements?
- Balance sheet shows what a company owns (assets and liabilities) whereas income statement shows total revenues and expenses for a period of time
- Balance sheet doesn’t show performance
- Balance sheet reports assets, liabilities and equity
- Income statement shows revenues and expenses
- Balance sheet is used to assess whether company can meet financial obligations
- Income statement used to evaluate performance
What do Dun & Bradstreet reports include?
- Company name
- Number of employees
- Year of incorporation
- Working capital
- Sales
- Net worth
- D&B rating (Financial strength and risk indicator)
Example: 5A (Strength) / 3: Moderate risk
What would you have done if your Director had insisted that you carry out an appraisal even with unrealistic timeframes?
- Included a statement outlining the limitations of my appraisal in the final report
What do you include in HoT’s?
Subject to Contract
- Address
- Details of parties
- Solicitors Details
- Price
- Conditions
- Funding
Why is the site introduction schedule important?
- It is used when conducting a conflict of interest check
What are the issues that may arise if the site introductions schedule was not kept up to date?
- Difficult to keep track of who is working on what projects
- Could lead to the duplication of work
What is the RICS dispute resolution service?
- A form of Alternative Dispute Resolution that provides cost effective and professional service in adjudication, expert determination and mediation.
What is the difference between independent experts and arbitrators?
- Arbitrator can only make decisions based on evidence provided
- Arbitrator is not liable for negligence and cannot be sued
- Arbitrator can decide how fees are apportioned between parties, parties can decide how independent expert fees apportioned
Arbitrator governed by Arbitration Act 1996 / Independent Experts governed by common Law
What is a conflict of interest?
- Where a pre-existing relationships impacts
Is GDPR still effective in the UK following Brexit?
- Yes, it was written into UK law as part of the Data Protection Act 2018
What does GDPR / DPA 2018 relate to?
- General Data Protection Regulations / Data Protection Act 2018
- Controls how data is processed and stored securely
Can you advise on a couple of aspects included in RICS Surveying Safely?
- Safe person concept
- Mental health
What PPE did you take on your site visit in High Wycombe?
- Hard hat
- Steel toe capped boots
- Torch
- Gloves
Why are EPC ratings important?
- They allow organisations to assess the energy performance of a building
They can be a deal breaker if it is viewed that the running costs of a building are going to be high
Can you give examples of sustainable features that could be included in PBSA / BTR?
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