Mandatory Competencies

Question 1

Prior to working with a new client,
What pre-appointment checks would you undertake?

Answer 1

• competence
• check COI
• KYC checks, money laundering checks,
• ensuring sufficient PII insurance in place
• ensuring written Toe

Question 2

When setting up a new practice, what procedures would you put in place to ensure good client care was being provided?

Answer 2

• regular client meetings
• clear communication lines
• set up procedures to provide regular client feedback.
• procedures to keep client info private
• report to clients using agreed and consistent document format.

Question 3

Why is client care so important?

Answer 3

• excellent client care is likely to retain existing clients and develop new business leads
• failure to provide client care could lead to client dissatisfaction

Question 4

Why is client care so important?

Answer 4

• excellent client care is likely to retain existing clients and develop new business leads
• failure to provide client care could lead to client dissatisfaction

Question 5

What would you do if you received a client complaint

Answer 5

• arrange a call with the client to let them know you’ve received complaint and are working to rectify issues
• issue a copy of my firms complaints handling procedure.
• notify my firms professional indemnity insurers online with our policy requirements.
• report the complaint with all details to senior person or designated complaints handler
• of complaint is unable to be resolved, it would need to be referred to the RICS property redress scheme.

Question 6

What is meant by the duty of care

Answer 6

-To ensure that another party does not suffer harm or loss that can arise as a result of breach or negligence
- generally you are expected to perform skill and that is to a standard expected from a reasonably competent professional.

Question 7

What is the difference between a client and a customer?

Answer 7

-A customer is purchasing goods usually a onetime transaction.
- a client is looking for a professional service. This means both sides work on long term goals in order to retain them as a client.

Question 8

Please provide an overview of your quality management procedures?

Answer 8

• peer review process
• standardised format of documentation
• accessible file storage systems
• internal and external audits

Question 9

What is your firms procedure for obtaining client feedback?

Answer 9

• use of KPI’s
• regular client meetings

Question 10

What issues would a company experience with a high staff turnover?

Answer 10

• increased recruitment costs
• increased training costs
• poor staff morale
• inconsistent production

Question 11

What is an investment appraisal?

Answer 11

• used to determine whether a business or project would generate the required return and be financially viable.
  -rate of return
• payback period
• net Present value