Mandatory competencies submission

Question 1

What is the Role of the RICS

Answer 1

The RICS is a leading public body working in the public interest to :

Maintain and uphold ethical and professional standards for members

lead solutions to problems faced in the built environment

to qualify and equip members to be able to provide the highest standards of professional service

Question 2

What is the organisational structure of the RICS

Answer 2

RICS is self regulated

Privy council
Governing council
Standards & regs, management board and audit committee
Finance and remuneration committee

Question 3

Tell me what you understand about the bribery act 2010

Answer 3

The bribery act 2010 details

the principles of bribery
What accounts as a bribe
Implications of non compliance

Question 4

What are the CPD requirements of the RICS

Answer 4

20 hours per year for registered members - 10 formal and 10 informal

Question 5

What are the types of conflict of interest

Answer 5

Party interest
own interest/personal
Confidential information interest

Question 6

What happens if there is a conflict

Question 7

What is the RICS policy on gifts and hospitality

Question 8

What Is the VOA policy on gifts and hospitality

Question 9

What were these refreshments and why did you decline

Question 10

Tell me when you have acted with integrity

Question 11

What do you put in a terms of engagement

Answer 11

Name
status
bases of value
currency
fee
Complaints handing procedure
Purpose of valuation
Valuation date
Assumptions
limitations on liability

Question 12

Tell me about complaints handling 2016

Answer 12

now a professional standard from 2023 rather than a guidance note

details what a complaints handling procedure should include
Alternative dispute resolutions and providers
Timescales

Question 13

What does the CRCA 2005 set out

Answer 13

all information held by the VOA is covered by the duty of confidentiality and it specifies the circumstances when information can be disclosed.

Question 14

Who are the voa clients

Answer 14

DLUHC
HMRC
HIGHWAYS ENGLAND
NHS

Question 15

What kind of communication methods do you use

Answer 15

EMAIL, PHONE, LETTER, FACE TO FACE

Question 16

Tell me about the health and safety at work act 1974

Answer 16

Primary piece of legislation which covers occupational health and safety in great Britain

includes
Staff training
providing a safe place to work
safe equipment
risk assessments
providing proper facilities
the appointment of a competent person to oversee H&S

Question 17

Tell me about RICS surveying safely 2018

Answer 17

Guidance note detailing

identifying and managing risks
assessing hazards
occupational health and hygiene
inspection checklists and things to consider
Fire safety

Question 18

What goes into your risk assessments for inspections

Answer 18

identifying any hazards

decide who might be harmed and how

evaluate the risks

record and implement findings

advise those who may be affected

Question 19

What are the IFRS

Answer 19

A set of reporting standards which are mandatory for listed companies - sets out how to prepare financial statements (pnl, balance sheet, cash flow forecast)

Question 20

What is IFRS 16

Answer 20

Standard that came into force Jan 2019 requiring all companies to report all leased assets and liabilities to give greater transparency

Question 21

What is UK GAAP

Answer 21

a set of financial reporting standards which non listed companies can use to prepare financial statements - usually FRS 102 (STAUTORY REQUIREMENT UNDER THE COMPANIES ACT 2006)

Question 22

What is VPGA 1 and what does it include

Answer 22

Valuation for inclusion for financial statements -

details that where an entity as adopted IFRS the basis of value will be fair value and IFRS 13 FAIR VALUE MEASUREMENT WILL APPLY

Also details IFRS 16

Question 23

What are three methods of dispute resolution and explain them

Answer 23

mediation - impartial party acts as a negotiator between two parties to settle a dispute

arbitration - formal process where an impartial 3rd party makes a binding decision

litigation - where a disagreement is settled in a court of law