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apc wg > Mandatory Competencies > Flashcards

Mandatory Competencies Flashcards

1
Q

What does your firm do to ensure the health and safety of its employees ?

A
  • Has a H&S hierarchy and policy which is updated regularly
  • Training is provided to staff
  • Internal Audits
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2
Q

What is the Health and Safety at work act?

What are its basic principles & what penalties are there?

A

The H&S at Work Act 1974
- UK legislation ensuring health, safety & wellbeing of employees & others
- Safe operation & maintenance of office environment and equipment
- Adequate & appropriate training provided
- Employers must keep H&S policy up-to-date

  • Unlimited fines
  • 2 years in prison
  • Director Disqualified
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3
Q

What is ‘Personal Data’?

A

Anything that could identify an individual

e.g.
- Name
- ID Number
- Location
- Characteristics

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4
Q

What is RIDDOR?

A

Reporting of Injuries, Disease & Dangerous Occurrences Regulations (2013)

Places duty to report on:
- Employers
- Self-employed
- Responsible Persons

If an accident:
- Causes injury
- Occurred at work
- Is reportable

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5
Q

What are the CDM regulations?

A

Construction, Design, & Management regulations (2015)

Aims to consider H&S throughout entire projects, from conception to demolition

Projects become notifiable if they:
- Last longer than 30 days
- Are more than 20 workers
- Are over 500 person days

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6
Q

Tell me about IFRS

A

International Financial Reporting Standards

In the Red Book

Sets out 2 financial reporting frameworks in the UK:
- IFRS
- GAAP

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7
Q

Tell me about NPPF

A

National Planning Policy Framework
- Government planning policy for England

S.8 relates to the provision of healthy, inclusive & safe places

Consideration required through all levels of project management & society

Inclusion includes use, not just access.

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8
Q

What is valuer registration & what is the purpose?

A

A risk monitoring & assurance programme that checks Red Book compliance

Assurance of compliance provides protection & confidence for valuers & clients

Indicates competence and reliability

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9
Q

What is the difference between risk and hazard ?

A

Hazard - anything that could cause harm

Risk - combination of:
- likelihood of occurrence
- severity of outcome

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10
Q

What are the:
- 7 Key Principles
- 8 Individual rights
of GDPR?

A

7 Key Principles:
1) Lawfulness, fairness, transparency
2) Purpose limitation
3) Data minimisation
4) Accuracy
5) Storage limitation
6) Integrity & confidentiality
7) Accountability

8 Individual Rights:
1) To be informed
2) Access
3) Rectification
4) To erasure
5) Restrict processing
6) Data portability
7) object
8) Automated decision making

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11
Q

What are included in your firms Terms of Business?

A
  • Introduction
  • Persons responsible
  • Charges
  • Payment Procedures
  • Confidentiality
  • Limitation & Liability
  • Data Protection
  • Complaints Procedure
  • Termination Procedures
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12
Q

What components would you find in a business plan?
Why are they needed?

A
  • Executive Summary
  • Marketing Strategy
  • Product or service provided
  • Management Structure
  • Responsibilities & Targets

Help to secure new instructions, expand client base and allows for resource planning

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13
Q

Terms of engagement examples

A
  • Client details
  • Staffing details
  • Conflict of interest declaration
  • Scope of work
  • Assumptions
  • Fees
  • Complaint Handling Procedure
  • Liabilities
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14
Q

Why would a firm want to RICS accreditation?

A

Status shows that the firm
- behaves ethically
- handles client money responsibly
- acts transparently
- has necessary skills and competence
- handles complaints appropriately

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15
Q

What is a safe place?

A

A place or environment where people feel safe from discrimination, criticism, harassment, and harm.

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16
Q

What are your firms procedures for checking conflict of interest?

A

Set out in my company’s Conflict of Interest Policy, available on the Integrated Management System (IMS)

  • Circulate a quality plan at the start of a new job
  • Keep the QP on file
  • Manager must raise any conflict of interest with all affected parties
  • We must receive client approval in writing before proceeding
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17
Q

What is a balance sheet?

What is a profit and loss statement?

What is a cash flow statement?

A

Balance Sheet -
A statement of financial position at a specific point in time (assets, liabilities, equity)

Financial statement -
Statement recording revenue, costs, and expenses (usually quarterly)

Cash flow statement -
Statement showing net cash-flow position to help assess liquidity

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18
Q

Have you dealt with a complaint before & what did you do?

A

Complaint from a landowner that a surveyor had taken access without consent

  • Called client to confirm details
  • Logged complaint in the complaint handling log
  • notified complaint handling officer
  • reviewed practises and held internal meeting to discuss avoiding in the future
  • the complaint was resolved and did not escalate
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19
Q

What is the RICS guidance on Health and Safety? Is it mandatory?

A

RICS Surveying Safely 2018

Guidance - not mandatory

20
Q

When is it appropriate to use informed consent?

A

When the member/firm are satisfied that
- proceeding is in all parties best interest
- it is not illegal
- objective, competent, and diligent service can still be provided.

21
Q

How does your firm ensure it stays profitable?

A
  • timesheet and expenditure records
  • project reviews
  • Team meetings for resource planning
  • Performance reviews / appraisals
22
Q

What guidance does the RICS offer regarding conflict of interest?

A

RICS professional statement ‘Conflicts of Interest’ 2017

The RICS ethics tree

23
Q

If a client wanted to pay you in advance of works, how would you deal with this?

A
  1. Create client account
  2. Provide statement of account
  3. Agree and inform of drawdowns
  4. Provide statement rationalising drawdowns
  5. Provide final statement on completion
24
Q

How have you agreed an uplift to your fees from a client?

A
  • Met client to discuss change in scope
  • Provide cost estimate, in writing, for additional work
  • Confirmed new total fee account proposed
  • Offered further discussion if required
  • Awaited consent before proceeding
25
Q

What are the rules regarding financial account reporting?

A

Companies Act 2006

All PLC’s must file annual accounts with Companies House each year
And must be kept for 3 years, or 6 for PLC’s.

26
Q

Under what Act are audits required?

A

Companies Act 2006

27
Q

How does your company guard against money laundering?

A
  • Anti Money Laundering policy
  • Conducts AML risk assessments
  • Adopt internal controls and procedures
  • Provide Staff Training
  • Client ID procedures
  • Keep good records
28
Q

What is a client money account and what types are there?

What are our obligations?

A

An account holding client money under complete control of an RICS firm/member.

Discrete (1 client)
General (more than 1)

  • keep client money safe
  • use accounts appropriately
  • ensure controls & procedures are in place
29
Q

What must we do when holding Client Money?

A
  • Maintain exclusive control over client accounts
  • ensure no other money is held in that account
  • ensure ‘client’ and the firms name are specified in the account name
  • ensure money is immediately available to the client
  • Provide banks operating conditions
30
Q

What must we do in relation to accounting records & control of client money?

A
  • Keep records of all transactions
  • ensure all transactions align with client instructions
  • publish money handling procedures on website
  • prevent overdrafts & rectify any immediately
  • have adequate data protection in place
31
Q

What is the RICS Client Money Protection Scheme?

A
  • Run by the RICS
  • Will reimburse members of public for direct loss of funds
  • funded by RICS insurance policy

Split into 2 parts
- General Client Money Protection
- Residential agency in England protection

32
Q

What are the benefits of an inclusive environment?

A
  • Reduced social inequality
  • Reduced cost on adaptations long-term
  • Attracts a diverse group of users
  • Improved economic development
33
Q

What is the minimum indemnity cover required for firms?

A

Depends on previous years turnover -
- less than £100,000 = £250,000
- £100,000 - £200,000 = £500,000
- Over £200,000 = £1,000,000

34
Q

What are the RICS rules of conduct?

A

Rules 1 -
Must be honest, act with integrity and comply with their professional obligations

Rule 2 -
Maintain professional competence

Rule 3 -
Provide good quality, diligent service

Rule 4 -
Treat others with respect, and encourage diversity and inclusion

Rule 5 -
Act in the public interest, take responsibility, and maintain public confidence in the profession.

35
Q

What would you need if you set up a new practise?

A
  • Insurance
  • Business Plan
  • H&S Policy
  • Complaints Handling Procedure
  • Bank details
  • Website & Email Address
  • Staff Contracts
36
Q

What is the role of an auditor?

A

To verify an entities procedures and/or accounts.
To examine statements to ensure financial position and practises are accurately represented.

37
Q

How long do you keep data for?

A

Bell Ingram Data Protection Policy

Held for duration of business relationship, + 1 year

Held for up to 6 years to protect against legal risk

38
Q

What types of conflicts of interest are there & where are they found in RICS guidance?

A

RICS conflicts of interest professional statement 1st edition Jan 2018

1) Party Conflict
2) Own Interest Conflict
3) Confidential Information Conflict

39
Q

What must we do regarding conflict of interest?

A

1) Identify and manage Conflict of Interest
2) Keep records of decision making & measures implemented to avoid them

40
Q

How do you determine if a gift is appropriate?

A
  • Consult the RICS ethics tree
  • Consult my firms anti-bribery policy
  • Consult RICS professional statement ‘Bribery, Corruption, Money Laundering & Terrorist Financing’ Feb 2019
41
Q

What is a bribe?

What are the consequences of a bribe?

A

An inducement or reward offered, promised or provided unethically to gain any commercial, contractual, or personal advantage

  • fines
  • Imprisonment
  • Legal Costs
  • Adverse Publicity
42
Q

If you accidentally send confidential information to the wrong party, what should you do?

A

Act Honestly
- Inform Client
- Inform Manager

Act Diligently
- Contact recipient & Ask to delete or destroy information

Take Responsibility
- Learn lessons
- Deal with complaints as appropriate

43
Q

What is informed consent?

A

Consent given by any party who may be impacted by a Conflict of Interest that they understand:

  • there is a conflict of interest or a risk of one
  • The RICS firm knows and understands this
  • What it is or may be
  • The Conflict of Interest may inhabit the RICS Firm

But remains happy for them to proceed

44
Q

How is data secured in your firm?

A
  • Paper Files in lockable cabinets
  • Folders, documents & external storage devices are encrypted
  • Two-Stage Authentication
  • Limited access to SharePoint
45
Q

You are offered tickets to Ascott by a client. Do you accept? What do you do?

A

Gifts must be proportionate and not used as a reward to gain an advantage

I would politely decline, log this in the firms gifts & hospitality register and if I was concerned about bribery, report to the manager.

apc wg (11 decks)

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