MANDATORY QUESTIONS- Incorporated Into Submission Flashcards
You say you were a member of a diversity board, what was that and how did it encourage diversity & inclusion?
The Property Diversity Board (PDB) is an initiative within the UK real estate industry aimed at promoting greater diversity and inclusion across all sectors of the property market. It was established to address the lack of representation of minority groups, including women, ethnic minorities, LGBTQ+ individuals, and those with disabilities, in the property industry.
What is an inclusive environment?
Gender neutral toilets
Worship rooms
Accessibility
Ramps
What data is required in your office and what electronic data is held in your office?
What is the definition of Security of Data?
Refers to measures and practices used to protect data from unauthorised access.
How can you ensure data security?
Confidentiality: ensuring that data is only accessible to authorised individuals.
Integrity: safeguarding the accuracy and completeness of data by preventing unauthorised modification.
Availability: ensuring that data is accessible when needed by authorised users, without disruption.
What are the personal data principles of GDPR?
- Processed lawfully, fairly and in a transparent manner
- Accurate, and when necessary, kept up to date
- Kept in form that permits identification of data, for no longer than necessary
- Processed in a manner that ensures appropriate security of the personal data
What legislation relates to the disposal of old files?
The Limitation Act 1980
How much a request be made by a member if the public under the FOI ACT 2000?
In writing.
Public bodies have 20 days to respond.
What legislation specifically relates to data held by public bodies?
The Freedom of Information Act 2000.
What individual rights exist under GDPR?
Right to be Informed
Right of Access
Right to Rectification
Right to Erasure
Right to Restrict Processing
Right to Data Portability
Right to Object
What data is affected by GDPR?
Personal data, including identifiers such as an IP address
Sensitive personal data, including genetic data
Electronic data
Manual data, including business cards or written records
Tell me more about the RICS Guidance Note on Sustainability and ESG.
Provides guidance on integrating sustainable and ESG principles into real estate and built environment practices.
The guidance aims to help professionals in the property, land and construction sectors address growing expectations around sustainability and ESG factors.
Can you explain your experience of conflict avoidance?
I was allocated a rating case for a nursery which was located in my hometown. I noted that the nursery was owned by my cousin and I immediately stopped working on the case and advised a senior colleague that there was a COI so the case should be reallocated.
Would you advise a client in regard to a financial status of a company?
Provide expertise related to real estate assets, liabilities and market conditions.
What is the difference between a hazard and a risk? Can you name any examples?
Hazard - potential dangers
Risk - assess the chance and consequence of those dangers
Examples: poor structure, presence of asbestos, faulty electricity, moving vehicles, inspecting from height, poor wiring, steep or unstable terrain.
What is the RICS Conflict Avoidance Pledge?
An initiative developed by RICS to promote best practices in avoiding and managing disputes
The pledge encourages members and firms to commit to proactive conflict management, with the aim to reducing the likelihood of disputes
What is the Equality Act 2010?
A comprehensive legal framework aimed at creating a more equal society by protecting individuals from discrimination, advancing equal opportunities, and fostering positive relations across all sectors of society
What is the approved Document M?
The document is broken down into three sections
M1 – Access and use of buildings other than dwellings
M2 – Access to extensions to buildings other than dwellings
M3 – Sanitary conveniences in extensions to buildings other than dwellings.
How do you incorporate sustainability considerations into your valuations?
By assessing energy efficiency, regulatory compliance, market demand, operating costs, and environmental risks
How do you approach market rent valuations in a fluctuating market?
DCF
What is rule 1 and can you give an example?
Members and firms must be honest, act with integrity and comply with their professional obligations, including obligations to RICS.
Example – i have remained firm in sticking to the correct valuation process when asked to deviate by a ratepayer requesting a reduction
what is rule 2 and can you give an example?
Members and firms must maintain their professional competence and ensure that services are provided by competent individuals who have the necessary expertise.
Example – not acting beyond my competence, seek specialists where required. HMRC Tax example
what is rule 2 and can you give an example?
Members and firms must maintain their professional competence and ensure that services are provided by competent individuals who have the necessary expertise.
Example – not acting beyond my competence, seek specialists where required. HMRC Tax example
what is rule 3 and can you give an example?
Members and firms must provide good-quality and diligent service.
Example – use terms of engagement to clearly meet the needs of the client. Timeliness
What is rule 4 and can you give an example?
Members and firms must treat each other with respect and encourage diversity and inclusion.
Example – respectful in IHT negs - Q&A after training
What is rule 4 and can you give an example?
Members and firms must treat each other with respect and encourage diversity and inclusion.
Example – respectful in IHT negs - Q&A after training
what is rule 5 and can you give an example?
Member and firms must act in the public interest, take responsibility for their actions and act to prevent harm and maintain public confidence in the profession
Example – questioning any suspectable behaviour and be a whistle blower if required.
what is rule 5 and can you give an example?
Member and firms must act in the public interest, take responsibility for their actions and act to prevent harm and maintain public confidence in the profession
Example – questioning any suspectable behaviour and be a whistle blower if required.
What would you do if you felt you were not competent to handle a particular instruction?
Decline the instruction
Refer the client to a colleague who is competent
Can you give an example of a situation where you faced an ethical dilemma and how you handled it?
agreeing an extension with the client beyond that agreed in the TOE
A client offers to take you to a game/event prior to an inspection. What would you do?
Timing - prior to the instruction
Proportionality
I would kindly decline the invitation and register it within the gift register.
What is the PII cover for VOA?
Insured by the crown.
We don’t have our own PII, we are covered by the VOA PII.
What are the difference’s between negotiation, mediation, expert determination, and arbitration?
Negotiation - informal and controlled entirely by the parties.
Meditation - involves a neutral third party who helps facilitate a solution but does not impose one.
Expert determination - relies on a specialist to resolve technical disputes with a binding decision.
Arbitration - a formal process where a third party makes a binding decision, much like a court ruling.
What is the importance of the Data Protection Act 2018?
Safeguards the privacy of individuals, giving them control over their professional information and holds firms accountable for the responsible use and protection of personal data
What is the international financial reporting standards, UK?
Most UK companies use UK GAAP (Generally Accepted Accounting Principles) & Financial Reporting Standard 1002 (wider international group choose IFS to ensure consistency across the board)
What is the RICS Valuation Practice Guidance Applications?
Provides guidance on how to apply valuation standard to different types of assets and situations
Ensures RICS values Carey out their duties in a consistent, professional and ethical manner
Why can’t you provide advice to a family member?
COI
PII
Why do you want to be a RICS Surveyor?
When did the Bribery Act come into effect?
July 2011
Are the VT panel property professionals?
No
Name leading people in RICS.
Tina Paillet - RICS president
Justin Sullivan - president elect
Nicholas Maclean - Senior vice president
What is a conflict of interest and how does it affect your instruction?
A conflict of interest occurs s when an individual or an organisation has competing interested that could influence their ability to make impartial and objective decisions
What’s the appendix at the back of the Rules of Conduct?
Rules for members and firms
3 for members
7 for firms
What are the types of things you would consider when receiving a gift from a client?
- Timing
- Proportionality
Does the Freedom of Information Act apply to private and/or public bodies?
Only public bodies (TBC)
What are the 9 characteristics of the Equality Act 2010?
- Age
- Disability
- Gender reassignment
- Marriage and civil partnership
- Pregnancy and maternity
- Race
- Religion or belief
- Sex
- Sexual orientation
What is the VOA stance on diversity & inclusion?
- Values diversity in teams
- Invests in its people
- Tackles bullying, harassment and discrimination
What legislation do you consider when setting up a business?
Companies Act 2006
Equality Act 2019
Health & Safety Act 1974
Data Protection Act 2018
Anti Money Laundering Regulations 2017
Bribery Act 2010
How do the VOA RoC compare to the VOA RoC?
- Honesty - same as rule 1
- Integrity - same as rule 1
- Objectivity - same as rule 1 (providing advice and opinion) and rule 3 (due diligent by doing research to arrive at opinion)
- Impartially- same as rule 1 (do not accept bribes or gifts which could be perceived as a bribe) and rule 5 (acting impartially ensures public confidence)
What is the RICS Use of Social Media Guidance, with effect from 1st Sept 2024.
Provide an overview of the Control of Asbestos Regulations 2012?
Reg 10 - training
Reg 4 - duty to manage
Reg 5 - duty to employer to identify and put control
Who are HSE? What do they do?
They are the national authority who act in the public interest to reduce work related injuries and incidents
Why do we have to ensure that a building is accessible?
We have got to be seen to be inclusive because of the Equality Act.
What is the H&S Act?
- employer duty to ensure health, safety and welfare of all employees at work
- criminal offence if act is breached (unlimited fine or imprisonment for 2 years)
- must report injuries and near misses
- must undertake, record and regularly review risk assessments
- detailed H&S information must be on site
Explain the steps you take prior to a negotiation.
strengths and weaknesses of their case
acceptable range
Explain the steps you take prior to a negotiation.
strengths and weaknesses of their case
acceptable range
What is climate change?
Increase level of greenhouse gases (trap earths heat and prevent it from escaping into space)
CO2 is released from burning fossil fuels which creates an insulating blanket around the earth, trapping more of the suns heat within the atmosphere
What is the difference between EPC and MEES?
EPC - provides a certificate
MEES - grade they should be
- sept 23, scrapped plans to MEES - has there been changes?
What causes a dispute?
Lease renewals
Rent reviews
Dilapidations
How would you advise a new colleague dealing with FORs?
CRCA ACT - only share rental informion - proportionate to assist with case
GDPR - rental information that fits the purpose of the task - minimise the data sharing
What is your opinion about the levitt report?
The Levitt Report on RICS was a necessary intervention.
The report exposed significant flaws and provided comprehensive recommendations to restore trust and improve governance.
It was seen as constructive, offering clear steps to enhance governance and communication.
Independent reviews like this are vital for organizations like RICS, where public trust and integrity are paramount.
Implementing the recommended reforms will be crucial to restoring confidence in the institution.
What is your opinion about the Government changes?
Impartial view
What is the difference between arbitration and mitigation?
Arbitration results in a binding decision imposed by the arbitrator, while mediation focuses on helping parties reach a voluntary agreement.
What is the VOAs complaints handling procedure?
- business
- Central
- Delegated 3rd party
Can you provide valuation advice to a family friend?
Check PII
If you have adequate PII, state within TOE the reduced impartiality
What is an ethical tree?
Used to help members make informed decisions about best course of action in respect of situations which are potentially unethical
Asks a series of questions - leads you to outcomes of whether to act or not to act.
Test - would you want decision to be made public?
Who is the RICS CEO?
Justin Young
What are the 6 principles of ethics?
honesty, integrity, competence, service, respect, and responsibility.
What do you do in receipt of a gift?
Consider proportionality - is it proportional to the work?
Log in gift register
VOA is strict, “mission statement” is above approach
What is proportionality?m
Refers to the principle that the value and nature of any gift received should be appropriate and reasonable in relation to the instruction.
Name two rules of conduct and when you would use them.
Example 2: competence - I undertake regular CPD which comprises of formal and informal learning.
Example 4: treat others with respect - a new graduate joined the office. I introduced myself and made them feel welcome. I spent time to understand where they were in their APC journey and let them know I was always there to help and spent time going through systems with them.
It’s now 2028 and landlord wanted to let property, what would they consider?
1st Apr 2027 - non domestic rented properties required to have a minimum EPC rating of C.
1st Apr 2030 - minimum EPC rating of B.
1st Apr 2025 - domestic rented properties required to have a minimum EPC rating of C.
1st Apr 2030 - minimum EPC ratings of B.
SEPTEMBER 23 - Rishi gave a speech about net zero. Scrapped plans to tighten MEES regulations.
Any recent CPD?
What legislation was implemented following Grenville?
Fire Safety Act 2021 - requires all responsible persons to assess, manage and reduce the fire risk in multi occupied domestic buildings by structure, external walls, common areas
External Wall Systems: a form to enable valuation of tall residential buildings, the forms are valid for 5 years.
The Building Safety Act 2022: implements measures intended to make buildings and residents safer.
Are you aware of any upcoming changes that may impact the the property market?
Budget!!!
CGT - increase rates to 40% or 45%
IHT - increase rate of 40%
SDLT - additional 3% surcharge on buy to let properties and raising the threshold for first time buyers
EPC - raising the minimum EPC to C by 2030
How does the interest rate impact development?
Increases borrowing costs, reduce demand, and makes developments less profitable
What does a sole partitioner have to consider when setting up a firm?
Appointing a responsible person
Say you set up a firm, and the owner of the petrol station asks you to reduce their rateable value, would you accept?
I’d consider my competence
What is the date for the IHT, LGFA and CGA?
IHT 1984
LFGA 1988
CGA 1992
Why do surveyors need to know about accounting principles?
Covenant strength
What is the difference between GDPA and FOIA?
GDPR protects personal data and applies to both public and private entities that process personal information
FOIA promotes transparency and
In public sector organisations by allowing the public to request information