hot topics

Question 1

• Latest money laundering regulations

Answer 1

in January 2024, the Money Laundering and Terrorist Financing (Amendment) Regulations 2023, take effect.
*Construction firms, especially those involved in large-scale projects must perform enhanced Customer Due Diligence (CDD). This includes verifying the identities of clients, contractors, and suppliers, especially when engaging in large financial transactions.
*Construction companies, especially those involved in real estate or handling substantial financial transactions, are required to train their staff on money laundering and terrorist financing risks.
*Construction firms that fail to comply with AML and CTF regulations risk severe penalties, including fines and reputational damage.

Question 2

• Soft client care skills?

Answer 2

-Communication is an important soft skill in the construction industry because you must be able to develop relationships with clients.
-Problem-solving skills allow teams to offer solutions that align with the client’s goals and avoid delays or additional costs.
-Negotiation is key in managing client expectations finding common ground on issues like budgets, timelines, or scope changes. Strong negotiation skills ensure that all parties feel satisfied with the final agreement.

Question 3

Types of client

Answer 3

private(independent clients)//commercial (as part of a business)//government(local authority)

Question 4

RICS Surveying Safely 2nd Edition - risk assessment, PPE and lone working”

Answer 4

+Emphasizes the importance of conducting thorough risk assessments before starting any surveying work. This includes identifying potential hazards, assessing risks, and implementing control measures to ensure the safety of the surveyor and others on-site.
+surveyors must use appropriate PPE to minimize exposure to hazards
+Addresses the risks associated with lone working, where surveyors may be working alone on remote sites or in hazardous conditions. The guide emphasizes the importance of having lone working policies in place, including communication protocols, emergency procedures, and tracking systems to ensure safety.

Question 5

Covid-19 precautions

Answer 5

RICS COVID-19 precautions emphasize minimizing contact, using appropriate PPE, maintaining hygiene, and using digital tools to reduce physical interactions. Risk assessments should incorporate COVID-19-specific risks, and surveyors should regularly review their practices to ensure they are aligned with government advice and health guidelines.

Question 6

Health and Safety at Work etc Act 1974

Answer 6

It sets out the general duties which:
-employers have towards employees and members of the public
-employees have to themselves and to each other
-certain self-employed have towards themselves and others
*Providing a safe working environment: Ensuring construction sites are free from hazards, with proper signage//risk assessment

Question 7

Control of Asbestos Regulations 2012

Answer 7

+requires the duty holder to manage the risk of asbestos by:
Taking appropriate steps to determine if there are any asbestos containing materials (ACMs) present. If any is found, the amount, location and condition needs to be recorded.
+Assessing the risk of the identified materials.
+Preparing a plan that clearly sets out in detail how the risks will be managed.
+Taking the necessary steps to put the plan into action.

Question 8

what are the 3 financial statements

Answer 8

The income statement, balance sheet, and statement of cash flows are required financial statements.
income-The income statement makes public the results of a company’s business operations for a particular quarter or year.
balance sheet-balance sheet is a snapshot of a company’s financial position at a given point in time.
statement of cash flows- It shows where a company’s cash comes from and how it’s used to pay for operations and/or to invest in the future.

Question 9

GAAP

Answer 9

Generally Accepted Accounting Practice in the UK, or UK GAAP or GAAP (UK), is the overall body of regulation establishing how company accounts must be prepared in the United Kingdom.

Question 10

what social media guidance is within rics and how do you operate inline with this?

Answer 10

rics introduced the guidance note ‘use of social media: guidance for members”
=I always use social media in a responsible and prof manner. I am sure to use respectful language and understand the responsibility in representing the rics.
=i would never post in a dishonest or a way that would cause offence

Question 11

what do you need to produce a cshflow

Answer 11

programme- contract value- work packages to breakdown to the programme and see any losses or omitted items that could affetc the cashflow.

Question 12

why would a client want to see cashflow

Answer 12

to see at any point of he project, if the predicted is similar to the actual figure. this tells them if we are running over or under what’s anticipated.

Question 13

how would a contractor use a cash flow

Answer 13

By doing an S Curve it helps to monitor their own progress (or subcontractors’ progress) or used to assess the movement of any float within the programme.

Question 14

What is volumetric construction?

Answer 14

Volumetric modular construction is a form of off-site construction in which buildings are put together by connecting a series of fairly large pre-built sections, or ‘modules’.

Question 15

codes of practice that govern sustainability

Answer 15

building regs part L and the code of sustainability and BREEAM.

Question 16

public insurance define
all risk insurance define

Answer 16

=This type of insurance covers liability occurring from death or personal injury to third parties other than the insured’s own employees.
=All risk insurance focuses on covering all physical damage to works and site materials. This can be taken out by either the contractor or the employer, with all responsibilities associated with the construction project attributed to the parties.

Question 17

explain rics inclusive employer quality mark

Answer 17

Its rics guidance, designed to improve diversity and inclusion within the construction sector. scheme requires employers to pledge commitment to improving staff retention/development/engagement/recruitment

Question 18

what is rics doing to improve diversity and inclusion

Answer 18

rics has set up diversity and inclusion leadership. allowing rics to share ideas on how and why diversity is so important. celebrated international women days and pride 2023.

Question 19

recent ipms update

Answer 19

shorter and concise format has been adopted. organsied into 4 volumes, encourages adoption of standards on a global scale

Question 20

what is rics futures report

Answer 20

2015 report was launched and highlighted key trends such as urbanisation, the disruption of big data and climate crisis presenting key challenges to the property.

Question 21

why did the previous rules of conduct change?

Answer 21

following on research it was to provide a single document to enable greater clarity for rics members and firms. Now greater example on behaviours

Question 22

what affect has the conflict in Ukraine had on construction

Answer 22

conflict has resulted in significant energy price increases. cost of steels bricks and plastics have increased. also delay and disruption caused by materials and goods affecting deliveries.

Question 23

how has Brexit affected construction

Answer 23

employers are now required to register as sponsers in order to recruit from abroad. cost increases of materials and price of goods moving across the border is expected to increase.

Question 24

what cost advice did you provide to your client as the design progressed from RIBA stage 1 to stage 4.

Answer 24

preparation & brief- at this stage i was able to prepare a cost per m2 estimate using internal benchmarking data and industry source of cost information. as design progressed from 2-4 as spec came available i was able to use this to compile an elemental cost plan by taking off quantities from project drawings.

Question 25

what level of contingency do you recommend to the client

Answer 25

with input from design team we were able to produce a risk register identifying each project risk. each risk was assigned with a probability and impact profile and my duty was to advise on cost allocation. the contingency allowance for the scheme was calculated and updated as the scheme progressed.

Question 26

what is excluded in a feasibility cost estimate

Answer 26

vat/prof fees/inflation/section 106s

Question 27

iwhat are the diff piles///how do CFA bored piles work.

Answer 27

sheet piles/secant piles/ bored piles/pre cast piles.
*by rotating a hollow stem continuous into the soil
* his bores out subsoils to a designed depth
*concrete or grout is pumped through

Question 28

what advice would you give a client who was wanting to know the technical disad of a steel frame construction. & what diff fire protection can be used on steel.

Answer 28

steel requires protection//parts may need replacing//price of steel is variable//need experienced builders. i am aware of intumescent paint and fire protective boarding.

Question 29

how does intumsecent paint work

Answer 29

its a pint like material which is inert at low temps. the coating reacts with heat. as temp rises, during a fire event, the intumescent coating swells and forms a char layer. this stops oxygen getting to the surface of the steel and prevents it from burning.

Question 30

diff between relevant matter and event?

Answer 30

To summarise, a relevant event entitles the contractor to an extension of time and a relevant matter entitles the contractor to claim direct loss or expense.

Question 31

how to claim relevant matter

Answer 31

-Discrepancies in the contract documents.
-Failure to give the contractor access to and from the site.
-Delays in receiving instructions.
-Disruption caused by works being carried out by the client.
-Instructions relating to variations and expenditure of provisional sums.