Key Info / Past Mistakes

Question 1

Who is the UK Prime Minister?

Question 2

Who is the Mayor of London?

Question 3

What is the current base rate?

Question 4

What is the current inflation rate?

Question 5

What is typical yields for retail?

Question 6

What are typical yields for residential?

Question 7

What are typical yields for offices?

Question 8

What is a typical £ per sq ft for retail?

Question 9

What is a typical £ per sq ft for residential?

Question 10

What is a typical £ per sq ft for office?

Question 11

What are typical build costs?

Question 12

Are there any RICS updates you are aware of?

Answer 12

RICS Modus 2025:

• According to UK Green Building Coucil, 29m homes will need retrofitting in the UK to meet Climate Change Act (2008) target
• However, due to cost of living the financial capability of this is low
• More public / private investment and collaboration is needed
• Focus on encouraging younger generations into industry
• Focus on ensuring due diligence in Vals is undertaken and professional judgement given

Question 13

What is Rule 1?

Answer 13

Honesty and Integrity

Question 14

When have you acted in accordance with Rule 1?

Answer 14

Honesty - I am open and honest with clients regarding their fees and services
Integrity - I do not accepts gifts or payments

Question 15

What is Rule 2?

Answer 15

Competency and Necessary Expertise

Question 16

When have you acted in accordance with Rule 2?

Answer 16

Only undertake work I have the knowledge, skills and resources to do

Question 17

What is Rule 3?

Answer 17

Good-quality and diligent service

Question 18

When have you acted in accordance with Rule 3?

Answer 18

Understand client’s objectives

Question 19

What is Rule 4?

Answer 19

Respect and Diversity and Inclusion

Question 20

When have you acted in accordance with Rule 4?

Answer 20

Do not discriminate
Do not bully
Check supply chain does not involve modern slavery

Question 21

What is Rule 5?

Answer 21

Act in public interest and take responsibility to maintain confidence in profession

Question 22

When have you acted in accordance with Rule 5?

Answer 22

Question practise that doesn’t feel right

Question 23

What was in the recent update from RICS CEO Justin Young?

Answer 23

• Recruiting surveyors is a cause for concern.
• Skills shortage is a barrier to project delivery, housing crisis, and everyday operations of firms.
• Collab with Minecraft to pique interest of 10 year olds.
• Built Environment GCSE

Question 24

What are LL PII requirements?

Answer 24

Low risk: £2.5m
Medium risk: £5m
High risk: £10m

Question 25

What are the implications of Trump's tariffs on development?

Answer 25

- Tariffs can reduce overall spending and slow economic growth - Delay deals - Higher inflation impacts cost of borrowing to fund development / construction costs