Random Q's Flashcards
What is the maximum penalty for an offence committed under the Bribery Act 2010?
An unlimited fine or imprisonment up to 10 years.
What is your firms whistleblowing policy?
In relation to PI Insurance, what is a ‘risk pool’?
The RICS operate an assigned risk pool, or ARP.
RICS recognises that circumstances may arise where a firm is unable to obtain PII or unable to comply with the RICS PII requirements.
In such cases, the ARP is a market facility, underwritten by all RICS Listed Insurers, which provides indemnity in compliance with RICS Requirements whilst the declined PII is being investigated.
What are the regulations relating to money laundering?
The Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017
What does the acronym KYC mean in relation to money laundering?
Know Your Client.
This involves the identification and risk assessment of any customer, whatever the potential crime involvement.
What is a ‘high value dealer’ under money laundering regulations?
High Value Dealer is a term used to describe businesses and sole traders that make or receive relevant cash payment of 10K euros (or the equivalent currency) in exchange for goods.
Can you give some examples of what may be deemed a red flag in relation to money laundering?
- Lack of ID
- large cash payments
- appears to be disguising the real client
- excessively high values placed on assets
- requests for short cuts
- no obvious commercial purpose to transactions
- large cash payments
What does PEP mean in relation to money laundering?
PEP stands for Politically Exposed Persons, and is an individual who is or has been entrusted with prominent function.
PEP’s can hold positions that can be abused for the purpose of laundering illicit funds or other offences such as corruption and bribery.
Are you aware of any RICS guidance on social media use?
The Use of Social Media: Guidance for RICS Members.
What is the most expensive form of dispute resolution?
Litigation
What are the types of ADR?
- Adjudication
- Mediation
- Arbitration
- Expert Determination
- Dispute Resolution Boards
Is mediation / conciliation legally binding?
No. The role of the mediator is not to reach a decision themselves or impose a decision on the parties. It is to assist in clarifying and prioritising the issue at hand, and supporting the search for solutions.
AI. What are your views in respect of your role as a QS?
I suppose in summary, I do not believe AI will remove the role of the QS, but more assist the role in transforming and evolving. However, I believe it is important for QS’s to upskill and keep up to date with technological trends.
What is IPMS?
International Property Measurement Standards. IPMS All Buildings supersedes the previous version and was published in January 2023.
It aims to ensure property assets are measured in a consistent way to create a more transparent marketplace, greater public trust, stronger investor confidence and increased market stability.
What do you understand of the acronym RIDDOR?
RIDDOR stands for the Reporting of Injuries, Diseases and Dangerous Occurrences Regulations 2013.
It is the law which requires and stipulates who, when and how you should make a RIDDOR report on specific workplace incidents, injuries and deaths to the HSE.
