Lists! Flashcards
1
Q
5 Rules of Conduct
A
- Honesty and integrity
- Competence
- Service
- Respect
- Responsibility
2
Q
6 principles of the bribery act 2010
A
- Proportionality
- Top level commitment
- Due diligence
- Risk assessment
- Communication
- Review
3
Q
RICS Bye Laws
A
- Applications
- Membership
- Designations
- Contributions to funds
- Conduct
- Governing council
- Boards, committees
- Procedure for general meetings
- Accounts
- General
4
Q
5 principles for better regulation (this is in relation to rules of conduct for members)
A
- Transparent
- Proportional
- Accountable
- Consistent
- Targeted
5
Q
Requirements for starting a new practice
A
- Inform RICS by completing firm details form
- Appoint principle for RICS communication
- Register with RICS for registration
- Arrange PII and send to RICS
- Setup client money handling and protection scheme
- Obtain approval for complaints handling procedure
- Setup complaints log and appoint handling officer
- Log CPD
- Complete annual RICS return
- Use logo kit from RICS
6
Q
6 client money handling principles
A
- Held in discrete bank accounts labelled client
- Funds available upon request
- Client has bank details
- Bank understands money not to be moved or transferred
- Monthly ledgers and reconciliations
- Never overdrawn
7
Q
Money laundering and terrorist financing regulations 2019 principles
A
- Requires staff training
- Compliance with due diligence requirements
- Have a ML risk assessment in place
- Treat domestic politically exposed persons as lower risk than other PEPs
8
Q
Workman anti money laundering checks?
A
- Source of funds
- Nature of client
- Registered address
- Owner, passport
9
Q
3 offences in the proceeds of crime act 2002
A
- Concealing criminal property
- Arranging criminal property
- Possessing criminal property
10
Q
H&S at work act 1974, 6 pack of regulations.
A
- The Management of Health and Safety at Work Regulations:
- The Manual Handling Operations Regulations:
- The Display Screen Equipment Regulations:
- The Workplace (Health, Safety and Welfare) Regulations:
- The Provision and Use of Work Equipment Regulations:
- The Personal Protective Equipment (PPE) Regulations:
11
Q
10 GAAP principles
A
- Regulatory
- Consistency
- Continuity
- Sincerity
- Permanence
- Prudence
- Periodicity
- Good faith
- Utmost good faith
- Non compensation
12
Q
Difference between GAAP and IFRS
A
- All leases recognised on the balance sheet under IFRS 16
- IFRS is mandatory for London Stock Exchange companies
13
Q
Types of insolvency
A
- Company Voluntary Arrangement (CVA)
- Compulsory liquidation
- Creditor voluntary liquidation
- Administration
- Receivership
14
Q
MEES 2018
- current requirement
- fines
- exemptions
A
- Unlawful to let or continue to let with EPC of F or G from 2023
- Fined £5K or 10 of RV for less than 3-month breach
- £10K or 20% RV for more than 3-month breach.
- Exemptions – all improvements have been undertaken, improvements de value the property or if payback of improvements are more than 7 years.
15
Q
BREEAM categories
A
- Energy
- Waste
- Water
- Pollution
- Transport
- Management
- Materials
- Land use and ecology
- Health and wellbeing
16
Q
Principles of measurement
A
- Item capable of being measured
- Objectively verifiable
- Taken horizontally except for height
- Clearly documented.
17
Q
What’s on a measurement report
A
- Date
- Purpose
- Measurement standard (IPMS or code of measuring)
- Basis (GEA GIA NIA or IPMS)
- Unit
- Floor area
- Supportive drawings
- RICS member
18
Q
8 individual rights under GDPR
A
- Right to information
- Right to access
- Right to rectification
- Right to erasure
- Right to restrict processing
- Right to object
- Right to data portability
- Right to automated decision making.
19
Q
6 principles of GDPR
A
- Lawfulness, fairness, transparency
- Accuracy
- Data minimisation
- Storage limitation
- Purpose limitation
- Confidentiality and integrity
20
Q
Workman rent collection KPI
A
- 90% rent collection on day 7
- 95% on day 14
- 98% on day 28.
21
Q
Equality act 2010 9 protected characteristics
A
- Gender
- Gender reassignment
- Race
- Religion
- Age
- Disability
- Marriage
- Pregnancy
- Sexual orientation
22
Q
Red book VPS 1-5
A
- VPS 1, terms of engagement
- VPS 2 inspections, investigations, records
- VPS 3 valuation reports
- VPS 4 4 basis of value
- VPS 5 valuation approaches and methods.
23
Q
Bases of value
A
- Market value
- Market rent
- Investment value
- Fair value
24
Q
5 conventional methods of valuation
A
- Comparative
- Investment
- Residual
- Profits
- Contractors
25
Q
Term and reversion method
A
- Used for under rented investments
- Capitalise term using initial yields up to next review
- Capitalise market rent into perpetuity at a higher yield due to higher risk.
- Defer income by the length of term using PV of £1
26
Q
Hardcore layer method
A
- Used for under rented investments
- Capitalise hardcore into perpetuity
- Capitalise layer into perpetuity at a higher risk due to higher yield
- Defer the layer by term using PV of £1
27
Q
S30 grounds for refusal
A
- Tenant has failed to carry out repairs
- Tenant has persistently paid rent late
- Tenant in substantial breach of another covenant
- Landlord offers suitable alternative accommodation
- Building let as a whole would produce higher rent than separate lettings
- Landlord plans to demolish or refurbish
- Landlord intends to occupy for own purposes.
28
Q
4 tests from O’May vs City of London (change terms between leases)
A
- Has the party demanding the change shown good reason
- Will the party resisting the change be adequately compensated
- With the adjustments impair the conduct of tenant’s business
- Is the variation fair and reasonable between parties.
29
Q
How to carry out a rent review
A
- Receive written instruction from client
- Check competence
- Check COI
- Agree terms of engagement
- Request legal pack
- Check assumptions and disregards in the lease
- Undertake inspection and measurement
- Collect comparable and make recommendation to client
- Negotiate or go to 3rd party.
30
Q
9 principles in service chares in commercial property 2019
A
- In accordance with lease
- No more than 100%
- Issue budget annually
- Issue apportionment annually
- Issue reconciliation annually
- Hold money in discrete bank account
- Interest to be credited to service charge
- Tenant to only withhold sums in dispute
- Error to be rectified without delay
31
Q
How to deal with a licence to alter
A
- Receive T application in writing
- Check lease
- Request undertaking from T
- Review plans with building surveyor
- Obtain landlord consent
- Document LTA
- Complete final inspection
