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APC Interview Questions > Random Q's > Flashcards

Random Q's Flashcards

1
Q

What is the maximum penalty for an offence committed under the Bribery Act 2010?

A

An unlimited fine or imprisonment up to 10 years.

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2
Q

What is your firms whistleblowing policy?

A
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3
Q

In relation to PI Insurance, what is a ‘risk pool’?

A

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.

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4
Q

What are the regulations relating to money laundering?

A

The Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017

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5
Q

What does the acronym KYC mean in relation to money laundering?

A

Know Your Client.

This involves the identification and risk assessment of any customer, whatever the potential crime involvement.

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6
Q

What is a ‘high value dealer’ under money laundering regulations?

A

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.

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7
Q

Can you give some examples of what may be deemed a red flag in relation to money laundering?

A
  • 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
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8
Q

What does PEP mean in relation to money laundering?

A

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.

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9
Q

Are you aware of any RICS guidance on social media use?

A

The Use of Social Media: Guidance for RICS Members.

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10
Q

What is the most expensive form of dispute resolution?

A

Litigation

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11
Q

What are the types of ADR?

A
  • Adjudication
  • Mediation
  • Arbitration
  • Expert Determination
  • Dispute Resolution Boards
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12
Q

Is mediation / conciliation legally binding?

A

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.

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13
Q

AI. What are your views in respect of your role as a QS?

A

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.

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14
Q

What is IPMS?

A

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.

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15
Q

What do you understand of the acronym RIDDOR?

A

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.

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16
Q

What do you understand of the acronym COSHH?

A

COSHH stands for the Control of Substances Hazardous to Health Regulations 2002.

It is the law which requires the adequate control of exposure to materials in the workplace that cause ill health.

17
Q

What is RICS Surveying Safely?

A

It is an RICS Professional Standard which contains good practice for the management of H&S for RICS-regulated firms and RICS members.

It sets out principles for those engaged in the built environment as property professionals and includes H&S responsibilities at both corporate and individual member level.

18
Q

What impact has the conflict between Russia and Ukraine had on the UK construction industry?

A

The conflict has caused uncertainty about the viability of future UK construction projects, particularly in terms of logistics, infrastructure and the availability and cost of critical materials such as steel, iron, nickel, chemical products and timber.

The high level of dependency on Russian gas and oil has led to energy price increases - all of which has had a direct impact on construction companies

19
Q

Are you aware of any legislation or regulations relating to diversity and inclusion?

A

The Equality Act 2010
The Human Rights Act 1998
The Building Regulations, e.g. Approved Document M Access To & Use of Buildings

20
Q

When was the RICS founded?

A

1868

21
Q

When did the RICS gain its Royal Charter?

A

1881

22
Q

What is the RICS mission statement?

A
23
Q

What is a deleterious material?

A

It refers to a substance or product that is harmful or potentially hazardous to a building’s structural integrity, durability or occupants’ health and safety.

24
Q

Can you give an example of a deleterious material in construction?

A

Asbestos - once widely used for insulation, fireproofing and other applications. Asbestos fibres are now known to cause serious and respiratory diseases.

25
Q

What are the aims of the RICS?

A
  • advancing the highest ethical and technical standards
  • protecting and providing benefits to consumers
  • providing expert impartial advice
  • equipping RICS members
  • Promoting RICS status & standards
26
Q

What is the maximum penalty for a money laundering offence?

A
  • up to 14 years imprisonment
  • unlimited fines
27
Q

What are the 4 types of discrimination under the equality act 2010?

A
  1. Direct discrimination
  2. Indirect discrimination
  3. Harassment
  4. Victimisation
28
Q

What are the 6 principles of the Bribery Act 2010?

A
  1. Proportionate Procedures
  2. Top Level Commitment
  3. Risk Assessment
  4. Due Diligence
  5. Communication, incl training
  6. Monitoring & Review
29
Q

What is a bribe?

A

Under the Bribery Act 2010, a bribe is defined as giving, offering, receiving or requesting a financial or other advantage with the intention of inducing or rewarding improper behaviours.

30
Q

What are the 9 principles of GDPR?

A

Lawfulness, fairness & transparency
Storage limitation
Minimisation of data
Accuracy
Accountability principle
Purpose limitation
Security

31
Q

What is a latent defect?

A

Latent Defect is a hidden flaw or fault in property, building or construction work that is not immediately visible or detectable through a reasonable inspection.

32
Q

How long does a client have to make a claim on a firms PI Insurance?

A

Statutory limitation periods control the time allowed for a claimant to commence court proceedings.

The limitation period for bringing a claim against a member for breach of contract will expire 6 years from the date on which the member performed the service required under the contract.

Where the claim is under the tort of negligence the period will often be longer, because the right to bring a claim will not arise until the claimant actually suffers a loss as a result of relying on the advice of the member.

Then, under the limitation act there is a long stop period of 15 years from the date of the negligent act. This is the position in claims for financial loss or property damage.

Where a professional is retained to provide services under a deed, the limitation is 12 years from the date of breach.

33
Q

What are the 2 types of due diligence in relation to bribery?

A
  1. Simplified DD - means that full DD is not needed, in a situation that has been assessed as having low risk of money laundering, applying basic verification may be appropriate
  2. Enhanced DD - needs to be applied in situations where under my policies or statement or applicable laws, more checking and monitoring is required to complete the client profile, requiring continued review of the client or transaction
34
Q

What are the different types of asbestos and when were they banned?

A
  1. White - 1999
  2. Brown & Blue - 1085
35
Q

What are the regulations relating to asbestos?

A

Control of Asbestos Regulations 2012

36
Q

What guidance does the RICS provide in relation to asbestos?

A

Asbestos: legal requirements and best practice for property professionals and clients 4th edn

37
Q

What is the punishment / penalty for non-compliance with the CDM Regulations?

A

Failing to comply with the CDM Regulations can result in enforcement action by the HSE. This can include prosecution and depending on the nature of the breach, may range from financial penalties to imprisonment of individuals responsible.

APC Interview Questions (44 decks)

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