Statement of Experience Questions Flashcards
How did you undertake conflict of interest checks while at Avison Young?
- Followed the company’s regulations
- Checked their database to see if their were any conflicts of interest
- Sent an email to heads of department to confirm
How do you undertake conflict of interest checks at Network Rail?
I follow my employers Conflict of Interest policy:
Prior to accepting an instruction:
- Check to see if any financial / personal interests
- Check to see if any relationships which could influence decisions / interfere with my responsibilities
If I have / think there may be a conflict of interest I:
- Disclose the situation with my line manager
- Make a declaration on iEthics
My line manager will then either:
- Put the necessary measures in place and remove me from the situation
What would you do if you found yourself in a potential conflict of interest situation in private practice?
- Refer to RICS Professional Standard Conflicts of Interest (2017) and the RICS Ethics decision tree
- Obtain the full facts, and consider whether the conflict should be avoided, or whether it can be properly managed.
- Disclose the nature of the conflict, relevant info and proposed information barriers to client.
- Advise parties to seek independent advice.
- Request written confirmation of informed consent from clients.
- Set up an information barrier as agreed with clients.
What are some examples of information barriers?
- Barrier robust enough to offer no chance of information passing between two parties.
- Surveyors must be different and physically separated (different floors, different buildings)
- Separate support teams
- Compliance officer must oversee all actions
- Clear audit trail required
What are the three types of conflict of interest?
- Party
- Own-interest
- Confidential Information
At Tulse Hill what did you do when offered a bribe?
- Declined offer
- Informed line manager
- Logged incident via hospitality register
- Reported incident via Speak Out
What are the six principles behind the bribery act 2010?
- Proportionality
- Top-level commitment
- Risk assessment
- Communication
- Due diligence
- Monitoring and review
What are the four offences for bribery? Who polices the bribery act? What are the penalties?
- Bribery
- Accepting a bribe
- Bribing a foreign official
- Failing to prevent bribery
Serious Fraud Office - 10 years / unlimited fine
What RICS guidance is there in relation to Bribery?
RICS Professional Statement: Countering Bribery, Corruption, Money Laundering and Terrorist Financing 2019.
Why did you advise the third party to seek independent advice?
- Engineering knowledge was outside of my technical skill set
- Conflict of interest as we needed to access the land for works
Why did you consider the free canapes and drinks to be unethical?
- My employers policy is to report anything suspected of being over £15 onto iEthics and declare to their line manager
- My employer is an arm’s length body of government and I have a professional obligation to be seen as impartial - both in terms of my employer and the RICS
What RICS document covers complaints handling?
RICS Guidance Note on Complaints Handling (2016)
What are the RICS requirements for complaints handling?
- Requirement for firms to have a published CHP that meets Rules of Conduct
- ToE should make clear that the firm operates a CHP
- CHP details should be issued at the same time as Terms of Business
- Complaints log must be maintained
- Firms must include an RICS approved ADR mechanism in their CHP
What is an example of an RICS approved ADR mechanism?
RICS Dispute Resolution Service
How would you deal with a complaint in an RICS regulated firm?
- Speak with client and try and determine issue - may be easily rectifiable / a mistake on their end.
- If they wish to escalate, inform line manager and share CHP with client.
- CHP should contain details of Complaints Handling Officer
- Complaint should be acknowledged within 7 days and investigated within 28 days
- If not happy with the review, second stage involves use of ADR mechanism stated in CHP
How would you deal with complaints in Network Rail?
- Speak with client and try and determine issue - may be easily rectifiable / a mistake on their end.
- If they wish to escalate, inform line manager and pass on details of general complaints.
- If still not happy passed to Rail Ombudsman
What was included within your terms of engagement at Swanley?
Followed VPS1 guidelines as per RICS - Valuation Global Standards 2021
- Identification / Status of Valuer
- Identification of client
- Identification of intended users
- Asset to be valued
- Currency
- Purpose of valuation
- Basis of valuation
- Valuation date
- Extent of investigation
- Nature / source of information to be relied upon
- Assumptions & Special assumptions
- Format of the report
- Restrictions for use, distribution, publication
- Confirmation of Red Book Global compliance
- Fee basis
- CHP to be made available
- Statement that valuation may be subject to RICS compliance
- Limitation on liability
How did you provide good client care at Unit 17 Manchester?
- Met with client to understand objectives and timelines
- Regular communication with client
- Provided good-quality and diligent work
- Ensured I was competent prior to undertaking the instruction
- Presented report to client with multiple options and recommendation
- Supported report with evidence / photos / plans
Walk me through your meeting at Hampton Court?
- Provided agenda prior to meeting
- Forwarded relevant plans
- Colleague took meeting minutes
- Followed up meeting with email summary and actions required.
What due diligence did you undertake a Whitepost St?
- Review property management folder
- Reviewed and printed off plans & title plan
- Considered the location (active construction site)
- Considered access arrangements
- Considered hazards and risk of hazards occuring
What Hazards did you consider at Whitepost St?
- Active construction site - chance of nails on floor / materials falling from above.
- Material strewn on floor in arch - chance of tripping.
- Asbestos - reviewed Asbestos Management Survey (ARMS)
What did you include in your risk assessment at Whitepost St?
- What hazards were present
- Who was at risk of hazards
- Risk of injury occuring
then
- Recorded the findings on risk assessment
- Advised all those affected
- Reviewed the risk assessment regularly
What PPE did you wear at Whitepost Street?
- Hardhat
- Boots
- Fluorescent jacket
Why did you need a Controller of Site Safety at Stratford?
- Site provided unsecured trackside access and we needed someone with the appropriate safety qualifications as per my employers policies.
What did you include in your desktop risk assessment at Stratford?
- Hazards
- Those at risk of hazards
- The risk of those hazards occuring
- Recorded risks on risk assessment
- Advised all those affected
- Reviewed risk assessment regularly
What is a balance sheet? Profit & Loss Account? Cash Flow statement?
Balance Sheet
Statement of Financial Position - Assets / Liabilities / Equity
Profit and Loss
Statement of Financial Performance - Revenue / Expenses
Cash Flow Statement:
Statement of financial health / operational performance - tracks inflow and outflow of cash
What is Network Rail’s diversity and Inclusion strategy?
- Inclusive design to make passenger services more accessible
- More women and people from minority ethnic backgrounds in leadership positions
- Publishing pay gap reports
- Training to managers to deliver reasonable adjustments
- Improved recruitment of women
What is the DfT accessible station guidance?
A code of practice for design standards for accessible railway stations
Incorporated in NR’s diversity and inclusion strategy via inclusive design of stations
1. Lifts
2. Footbridges / stairs
3. Ticket offices
4. Waiting rooms / toilets
What is NR’s Environmental Sustainability Strategy?
30 year plan to deliver a sustainable railway via 4 core priorities
- Low emission railway
- Reliable railway that is resilient to climate change
- Helping plants & wildlife flourish
- Recycling and reusing everything
How does property play a role in your employers Environmental sustainability strategy?
- I deal with disposals, often of railway corridors. These are areas of high biodiversity.
- Strategy is to baseline biodiversity prior to sale.
- Aim is no net loss of biodiversity by 2024 and net gain by 2036 across estate.
What are the grounds that a landlord can oppose a lease set under section 30?
a. Breach of repairing covenant
b. Persistent delay of paying rent
c. Other substantial breach
d. Suitable alternative accommodation
e. Uneconomic subdivision
f. Demolition / Reconstruction
g. Owner occupation
What must a s.25 notice contain?
- Name and address of Landlord / Tenant
- address of property
- Notice of date to end the tenancy
- Confirmation of whether a new lease is to be granted (friendly) or not (hostile)
- Confirmation by which date tenant must apply to court for new tenancy
- Either Proposed rent (friendly) or grounds for opposition (hostile)
What is the difference between a licence and a lease?
- A lease provides an estate in the property whereas a licence makes what would otherwise be unlawful, lawful
- A lease can be assigned, a licence is personal
- A lease cannot be terminated (unless break provision) a licence can be revoked
- A lease provides exclusive occupation (Street v Mountford 1975)
What are the four requirements of a lease?
- Exclusive occupation
- Defined term
- Payment of rent
- If longer than 3 years terms must be written and signed as a deed.
What are the two types of Declaration to exclude P2 of the L&T Act?
- Simple Declaration > 14 days
- Statutory Declaration < 14 days (must be signed and witnessed by an independent solicitor)
What are the four usual assumptions in a rent review?
- Property is available to be let on open market between a willing landlord and tenant for the term of years as stated.
- Property is fit and available for immediate occupation and use
- All covenants observed
- Available for the use set out in the lease
What are the usual three disregards?
- Effect of goodwill on tenants occupation
- Ignore goodwill attached to property
- Tenants improvements if landlords consent has been granted
Is time usually of the essence?
No as per United Scientific Holdings V Burnley Borough Council (1977)
and
Bello v Ideal View (2008)
What is the rent review hierarchy of evidence?
- Open market lettings
- Lease renewals
- Rent reviews
- I.E determinations
- Arbitrator awards
- Court determination under PACT
- Hearsay evidence
- Sale and lease back
- Surrender and renewal
- Inter-company arrangements
What would you include within a rent memo?
- Name of tenant
- Name of landlord
- Address of property
- New rent
- Effective date
- Date of rent review and lease
- Signed and dated by both parties
What is a calderbank offer?
Negotiation technique that is without prejudice subject to costs - used to protect against high costs of litigation and focus parties to agreement
Set out in matrimonial case Calderbank v Calderbank 1975
What are the requirements for redevelopment under s.30?
- Firm intention
- Funding & planning
- Substantial work and necessity to gain VP
- Ability to redevelop provided VP secured
Case law:
S Frances v The Cavendish Hotel (London) (2018) - Acid test is whether the landlord would carry out the works if the tenant left voluntarily.
Nunhead - what measurement technique did you undertake?
Referred to RICS Guidance Note - Land measurement for planning and development purposes (2019)
Measured the site area utilising Geo-rinm and a trundle wheel to undertake check measurements.
Also referred to previous measurements undertaken by property management team.
Measurement level 2 mentions GEA!!
Walk me through your measurement at Loughborough Junction?
Undertook a GIA measurement of the site as per the RICS Code of Measuring Practice (2016)
SUK
- Reviewed property management file and printed off a copy of the lease plan.
- Checked that laser disto was calibrated and utilised during measurement
Included:
1. Loading bay area
2. Areas under 1.5m in height
3. Common facilities such as toilets
4. Ancillary office which I measured on a GIA basis
Excluded:
Covered ways & fire escapes
What is the difference between formal and informal tender?
- Formal used primarily by public bodies where high level of accountability or high levels of interest.
- Significant pack must be prepared prior which can be costly
- Can lead direct from Formal Tender to Sale
- Vendor can state that they are under no obligation to accept higher bid
- Bids are blind with no opportunity for further / change to bid.
- All bids must be opened in front of client.
- Informal tender usually starts with private treaty, best bids, more negotiations then sale.
- Smaller pack / less onerous terms required so costs lower.
- Usually state under no obligation to accept highest / any offer.
What is a special purchaser?
Particular buyer for whom a particular asset has a special value due to advantages arising from ownership that is not available to other buyers.
What are the advantages and disadvantages of an auction sale?
Adv:
1. Short timescale
2. Certainty of sale
3. Useful for unusual property / strong interest
Disadv:
1. Cost of promotion / publicity
2. Lack of confidentiality
3. Vendor cannot choose property
4. Intensive nature of short marketing period
What are the marketing signage requirements?
Refer to Town & Country Planning (Control of Advertisement) Regulations 2007
- Single board per property and must be no larger than 2sqm / 2.6sqm for v boards
- Planning permission required for Remote / Illuminated boards / boards on listed buildings / conservation area
What did you do at Harwich?
- Inspect - Contamination / leaks / equipment sprawled
- Checked previous measurement
- Saved copy of notes / photos on file
- Residual / Investment valuation - deducted remediation costs provided by developer
- Red book - Market Value & Market Rent
- Caveat - no further contamination
What inputs did you use at Harwich?
- 15% Developers profit (planning)
- 8% Finance cost
3.
