SOE technical

Question 1

What is the RICS registered valuer scheme and why is it important

Answer 1

Valuer Registration is a risk monitoring and quality assurance programme which checks compliance with the RICS Red Book.

Valuer Registration ensures that our members always meet the highest valuation standards. Becoming a Registered Valuer therefore offers protection and confidence both to you and your clients.

Question 2

what is PII and why is it important

Answer 2

Professional indemnity insurance covers the cost of compensating clients for loss or damage resulting from negligent services or advice provided by a business or an individual.

Question 3

Definition of market rent

Answer 3

The estimated amount for which an interest in real property
should be leased on the valuation date between a willing lessor and willing lessee on appropriate lease terms in an arm’s length transaction, after proper marketing and where the parties had each acted knowledgeably, prudently and without compulsion

Question 4

What is a discount rate and how did you arrive at your chosen one

Answer 4

The initial rate was low based on the special assumption that the lease had just commenced

The exit rate was high due to the fact that changing market hard to predict the future energy market possible obsolete.

We steadily increased the rate to reflect break clauses and age of the project.

Question 5

What is a DCF

Answer 5

A DCF is a model that sets out, with varying degrees of sophistication, the actual expected cash flow of the investment

Question 6

Any rics documents advise on the solar farm

Answer 6

RICS Standard

Valuation of assets in the
commercial renewable energy
sector

1st edition, April 2018
Effective from 19 April 2018

Question 7

DCF solar value

Answer 7

based on the special asumption that the project was running and the lease started in accordance with the latest version of the agreed HOT’s. Aim to find the market value for tax planning.

No income rent purely on a per acre basis

VPGA4 was consulted

Question 8

what is a yield and how was your yield selected

Answer 8

Yield that can be applied to the rental income from an investment property to capitalize that income

We calculated the yield market yield from market evidence the RICS registered valuer had and discussion from collogues working in renewables and valuation, it then increased due to break clauses etc

Question 9

Min distance for solar and BESS to 3rd party property

Answer 9

Solar - no min distance
BESS - typically a minimum of 250 meters

Question 10

What details are required for AML checks

Answer 10

Proof of Id Proof of address and Proof of funds. Personnel details which are then run through our smart search system

Question 11

what is a memorandum of sale

Answer 11

is a legal document that confirms the details of a property sale between a buyer and seller.

Question 12

What is the RPA and their role

Answer 12

The Rural Payments Agency (RPA) is a UK government agency that makes payments to farmers, traders, and landowners in England

Question 13

What is DEFRA and their role

Answer 13

The Department for Environment, Food and Rural Affairs is a ministerial department of the Government of the United Kingdom. It is responsible for environmental protection, food production and standards, agriculture, fisheries and rural communities in the entire United Kingdom

Question 14

Who is the current secretary of state for DEFRA

Answer 14

Steve Reed OBE

Question 15

Why were lower prices for the limousine cattle achieved

Answer 15

As they were sold younger they had to be sold as store for further finishing

Question 16

What act controls weeds

Answer 16

The weeds act 1959

Question 17

Effect of the weeds act 1959

Answer 17

Requiring action: The government could serve a notice to land occupiers to take action to prevent the spread of weeds.
Penalties: Occupiers who failed to comply with the notice could be fined. If the situation wasn’t remedied within 14 days, the occupier could face further punishment.
Investigations: The government could investigate complaints about the spread of weeds.
Powers of entry: The government could enter and inspect land.

Question 18

In Mapping what is a tif file

Answer 18

Tif is a common GIS raster data format.

Question 19

In mapping what is a gml file

Answer 19

GML is a vector file format that allows for geographic data to be kept as a text file used for vector data

Question 20

TDS timeframes

Answer 20

Deposit protection
Landlords or letting agents must protect deposits within 30 days of receiving them.

Deposit return
Landlords must return deposits within 10 days of both parties agreeing on the amount to be returned.

Dispute resolution
TDS aims to resolve adjudication processes within 28 days. This includes the time it takes to receive all evidence and the agreement of all parties to the resolution

Question 21

Ag tenancies

Answer 21

Farm Business tenancy - Agricultural Tenancies Act 1995
Agricultural holdings act tenancy - Agricultural Holdings Act 1986

Question 22

why did we not apply for grants for the works needed at the field suffering from ragwort

Answer 22

I was aware that a grant could cover the funding of the costs under a countryside stewardship scheme.

some form of easier and quicker to get the inhouse team to do it - check with harry

Question 23

If i pass will i immediately become a rics registered valuer

Answer 23

As i have taken valuation to level 3 if i am successful I will be able to apply to join the registered valuer scheme if i pass

Question 24

what is D&R’s complaints handling procedure

Answer 24

We act in accordance with Complaints handling, RICS professional standard.

complaints acknowledged within 7 days and escalated to our CEO who on reviewing it will respond fully to the complaint within 28 days.

After a period of 28 days, we will confirm in writing that we:
* Accept the complaint and offer redress where appropriate, or
* Have so far been unable to resolve the complaint, provide the reason for this and
confirm when you might expect our further response, or
* Reject the complaint and give a full explanation of our reasons.

Question 25

accounting priciples

Answer 25

GAAP generally accepted accounting principles which are a set of accounting rules that govern how financial statements are prepared, presented, and reported, to ensure that financial statements are consistent, complete, and comparable

Question 26

What is a calderbank offer

Answer 26

A Calderbank offer is a settlement proposal that is marked “without prejudice, save as to costs”

It is typically employed in situations where a party wishes to put forward a settlement proposal while safeguarding its position on costs

Question 27

Estate field why weren’t grants used to repair boundaries

Answer 27

We could not claim for FG1 fencing (£6.34 per square meter) The field would not meet the following;

New fencing is required to meet the option grazing requirements in conjunction with habitat management or creation.

To prevent water pollution caused by farming.

To protect environmental features e.g. newly planted trees, buffer strips or field corners taken out of management.

Question 28

stockproof fencing price per meter

Answer 28

around £12