MC Level 1 Dump Flashcards
What interesting articles have you read in modus magazine recently
I have not read modus magazine
But recently read an interesting article about construction trends in building magazine which noted:
Costs associated with meeting the new building safety act requirements increased construction costs in high-risk buildings by 1.25-2%
How are disciplinary matters dealt with?
Investigate; If warranted then
Conduct a hearing and impose any sanctions if appropriate;
Memebers have a right to appeal
What sanctions can RICS inpose on members and firms?
A caution or reprimand
Undertakings to future conduct
Fines
Membership conditions
Expulsion
Why do you want to become a chartered surveyor
Because I love the work that I do as a QS and want to both perform and be held accountable to the highest possible standard
Are you aware of any initiatives currently being undertaken by RICS?
Future Foundation, current 3 year strategy to:
- Enhance member value and engagement
- Lead and influence on sustainability
- Attract a diverse next generation
- Strengthen trust in the profession
What are your view on the fact that the RICS is a self-regulating body?
The RICS self-established standards of regulation meet, and in some cases surpass the government’s own principles on better regulation
The independant standards and regulatory board works closely with RICS to colloborate on best practice and change which ensures a high quality self regulation system.
Who is the current RICS president and how long will they be president for?
Tina Paillet, 1 year pterm
What is the RICS governing council? How is it elected?
It provides strategic oversight on req’s for entry and setting the enforcement of professional standards. Elected through elections open to all RICS memebers
What are the RICS By-Laws?
Laws and regulations set by the governing council which are the basis of the Rules of Conduct
1: Applications and Definitions
2: Membership and Registration
3: Designations
4: Contributions to Funds
5: Conduct
What is a RICS professional standard?
Set requirements for competent and ethical practice and contains:
- Mandatory req’s that MUST be complied with; and
- Best practice req’s that SHOULD be complied with
These are found publically on the RICS website
Examples include:
- Conflicts of INterest
- Rules of Conduct
- Surveying Safely
What is a RICS practice information?
Documents that provide support and advice for members
- Include definitions, processes, toolkits and checklists
- Not mandatory but provides advice on best practice
These are found publically on the RICS website
Examples include:
- Appropriate contract selection
- Risk, Liability and Insurance
Why is PI insurance required?
To protect individuals and firms against incidents where the client suffers loss because of their work
What are the implications of Merrett v Babb?
Individuals can be pursued for damages if their firm doesn’t hold relevant insurance.
Implies things such as run-off cover are important to protect members in the event of business closure.
When is a firm required to register with RICS?
- They provide surveying services to the public
- The firm is operating in regulated area A (UK)
- At least 50% of the firms principles are RICS members
Once you are chartered, what would you have to do to set up a RICS registered firm?
Provide surveying services to the public
Have at least 25% of its principles as MRICS
Must publish a complaints handling procedure
Must ensure current and previous work is covered by PII
Sole Trader must have a locum
Must cooperate with RICS
Must following the rules of conduct
How do you go about distributing the NDA’s to third parties to ensure you are not in breach of your own NDA?
This should be outlined within your own NDA agreement
Essentially shoudl mirro your own agreement
Must ensure it is place BEFORE any sensitive infomration is released
Can you provide an example of a conflict of interest you have encountered and how the situation was resolved?
Can you accept money from a client?
In the first instance better to decline and ask the client to seek an alternative arrangment
If agreed, money must be kept in a client bank account for which our firm has control
Ensure the money is immediately available
Reasonable check on the source of funds
Any joint account sot be set up the client name
Advise in writing the details of any such account to the client
Any interest accrued remains the property of the client
written confirmation from the client before releasing funds
Keep appropriate accoutning records
What is your firms complaints handling procedure?
Complaints raised to maanger responsible for dealing with client instruction either in person, in writing or via telephone
Attempt to address concerns immediately and directly
If dissatisfied, a formal compaint may be made
Comit to acknowledge the complain within 7 days
Director will then investigate the complaint and reply in wirting within 21 days.
Option for alternative dispute resolution if not satisfied: First to contact the companies nominated contract who will re-review the response within 14 days, then can be referred to a nominated third party
What constitutes a compaint?
An expression of dissatisfaction, either spoken or written, that requires a response
Can you briefly give an example of a client care technique you have adopted with an existing client.
On View Road, I discussed the cost report format and asked for feedback on what was important to the client to form a bespoke report.
Cash flow was important to the client on View Road and in addition to the cash flow forecast so I suggested sharing the contractors initial application for payment as soon as it was received noting it was liekly to change once reviewed and agreed each month.
What would you typically include in an agenda?
Introductions
Health & Safety
Contractor’s Report
Design Matters
Procurement
Commercial
AOB
