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APC I&F > Submission - Mandatory Competencies > Flashcards

Submission - Mandatory Competencies Flashcards

1
Q

What are the RICS Global Professional and Ethical Standards?

A

Service, Trust, Integrity, Respect & Responsibility

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2
Q

Is there any RICS regulation on Bribery, Money Laundering and Corruption?

A

Yes. Countering bribery, corruption, money laundering and terrorist financing. Professional statement 2019.

  • Requirements - Don’t offer/accept bribe, retain records, report suspicions
  • Guidance - Gift register, written policy
  • Supplementary - Dealing with PEP, 3 W’s (Who What Why)
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3
Q

What did you learn on you bribery, money laundering and corruption training?

A

Definitions
Red flags in transactions
Punishments

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4
Q

What is the RICS CPD policy?

A

20 hours p.a.
10 formal.
Refamiliarize yourself with professional and ethical standards every 3 years
CPD management tool to record

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5
Q

Tell me about a piece of CPD you’ve completed recently?

A

Future of valuations
Movement to the DCF
Explicit variables at points in time

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6
Q

What is the know your client process?

A

highlights conflict, AML

Client and building

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7
Q

How did knowing about the previous engagement help?

A

Contact - instant relationship to build on
Communication
Understand the clients ways of working
Understand their goals

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8
Q

When would you have been able to work with this conflict?

A

Once raised, if I and my manager believed that it was in everyone best interest and could be managed, informed consent would be requested, in writing from the client.

Once received, appropriate barriers would be put in place.

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9
Q

What type of conflict was this?

A

Personal - rather than financial, commercial or dual agency

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10
Q

What does your limitation of advice take into account?

A

Competence in the rules of conduct

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11
Q

Where does limitations of advice come in the ROC for members?

A

Competence in the rules of conduct

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12
Q

Why didn’t you give the lender the data centre terms?

A

This would bring my integrity into account - I wouldn’t want this action to be made public (decision tree) and so declined

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13
Q

What are the wider capabilities of CBRE? Give me an example

A

Modelling - development, valuations etc.

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14
Q

Why is it important to agree a scope of work prior to engagement?

A

dispute resolution purposes

Can always clear up any misunderstanding through clear TOE and scope

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15
Q

What was the CRM system you used in the equity placement team?

A

client relationship manager - tracked investor sentiment and progress on mandates.

Allowed any member of the team to pick up a deal with the latest communication

Good for dispute resolution as all emails and communication logged

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16
Q

What is a investment memorandum and a financial memorandum? What’s the difference?

A

Investment/Information sets out the information regarding the facility - focusing on the sponsor, their track record and sector dynamics.

Financial memorandum highlights the above but focuses on the financial details - the request, the structure, the cashflows

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17
Q

What did you learn on you negotiation training course?

A

types of negotiation and when to apply them; collaborating, compromising, competing, accommodating, avoiding and listening

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18
Q

Why is listening important in communication and negotiation?

A

Think about a negotiation – part of the process is to assess what the opposition wants and needs. Without listening, it is impossible to assess that, which makes it difficult to achieve a win/win outcome.

19
Q

What was the general overview of the London debt market?

A

It was conducted during the covid pandemic - this meant that the there was a lack of transactional data.

However, from the data available to the public and the internal knowledge I was able to ascertain some general trends.

As expected the super prime space remained resilient - 2-3% margins.

Some of the secondary stock and the rest of the market saw a 10% hit on the LTV and a 150bps hit on margins

20
Q

What was CBRE’s health and safety training?

A

Fire Safety and evacuation plans
Mental health and wellbeing
Surveying safely
Procedure guides and the tools to do your job

21
Q

What are the requirements of the health and safety at work act?

A

Sets out employers responsibility to their employees
Ensure their health and safety at work
Ensure that procedures and tools to do job
Policed by the HSE - fines and imprisonment
Report any injuries
Record and review
Manual

22
Q

What do you do before an inspection with regards to health and safety?

A 
desk top risk assessment 
Add to calendar
notify team of location and timings
ensure ppe 
mobile phone
medication
safe to inspect - lone working etc
23
Q

What are the three main purposes for accounting?

A

Tax & Regulatory returns
Internal management to monitor performance
External analyst to make investment recommendations

24
Q

Give an example of a financial ratio and how it would reflect a companies financial strength?

A

Solvency ratio : ICR

Shows how many times over a company can pay its interest payment with its operating income

25
Q

What did you learn on you accounting training?

A

purpose of accounting

purpose of balance sheet and income statements

some of the accountancy ratios used - liquidity (current/liabilities) solvency (ICR)

26
Q

What should be included in a business plan?

A 
exec summary
company overview
Bios of key management
product overview
marketing and sales plan
Financial plan
Assets 
Appendix
SWOT analysis
27
Q

Why is an annual budget important?

A

Framework for business and its finances – gives an anticipated target of where the senior members of the business assume performance to be by the end of the fiscal period. You can do this by combining past and present trends. A budget provides a detailed view of assets, realistic revenue expectations, and how those balance against your anticipated expenses.

28
Q

What’s included in an EP term sheet?

A

Terms of engagement set out the basic facts of your instruction so that there is no confusion about what you have been asked to do. They also define the scope and depth of the service you will provide, and in doing so set boundaries to your liability and also the fee and how they are calculated. And Complaints handling procedure.

Engagement letter, scope, contacts, fees, terms of business and signatories

29
Q

Why are clear TOE important in conflict avoidance?

A

Clear terms of engagement that are not open to mi-interpretation mean that if issues do arise they are solvable.

30
Q

What are the practical implications and key principles of Conflict of interest professional statement?

A

Informed consent
Keep Records
Implement controls
In everyone’s best interests

  1. avoidance 2. written advice 3. managment
31
Q

Why is it important to manage data correctly and professionally?

A

Under GDPR - process individuals data securely and prevent unlawful processing, accidental loss and damages
Breaches reported to ICO w/i 72 hours
Policed by the ICO
Fine up to 4% of turnover or €20m

Example BA - data break 400,000 information - originally 200+ fine reduced to 20 due to covid

32
Q

What was CBRE’s training on data management and how can you identify hacker attempts?

A 
Identifying data - processing correctly and legally
NDA's etc. 
Follow GDPR
Phishing
USB sticks
33
Q

What are CBRE’s diversity and inclusion guidelines?

A

Rise Values at the centre and one of the most successful means of fostering this kind of environment is through the cbre employee networks. Proud network, womens network, armed forces.

34
Q

What are some of the individual rights under GDPR?

A

Access, Rectify, Erase, Edit, Restrict, Object, Portability, Automation

35
Q

What is the difference between diversity and inclusion?

A

Diversity is the what - Put into place recruitment plans, training on unconscious bias etc. makeup of your workforce — demographics such as gender, race/ethnicity, age, sexual orientation
Inclusion is the how - it’s the culture that is created in which everyone is accepted and allows everyone to thrive.

36
Q

What is the benefit of diversity?

A

Diverse team that has more extensive backgrounds and qualities is inevitably more effective – As QS you are representing the built environment and the people that live in these communities.

37
Q

How do we all benefit from improved accessibility?

A

An inclusive environment recognizes and accommodates differences in the way people use the built environment.

It facilitates dignified, equal and intuitive use by everyone.

It does not physically or socially separate, discriminate or isolate. including disabled people, older people and families with children, carers and those of us who do not consider ourselves to be disabled.

38
Q

What is an inclusive environment?

A

People feel valued and accepted in their team and in the wider organization, without having to conform.
Support employees, regardless of their background or circumstance, to thrive at work

39
Q

What are the protected characteristics under the equality act?

A

EA 2010 has 9 protected characteristics – Age, disability, sex, gender, sexual orientation, LBGTQ , maternity, religion, gender reassignment

40
Q

What is sustainability in RE?

A

Meeting the needs of today without adversely impacting the needs of tomorrow.

Renewable energies to meet the growing demand for example.

41
Q

What are the 3 pillars of the Brundtland report?

A

Economic, Environment and social -

Introduced the concept of sustainable development and described how it
could be achieved

Chapters covering, among other topics within sustainable development, the role of the international economy, population and human resources, food security, species and ecosystems, energy, industry, and proposed legal principles for environmental protection.

42
Q

What is BREEAM and GRESB?

A

Building research establishment environmental assessment method:
pass to outstanding based on efficiencies - water, waste, electricity etc.

Global real estate sustainability benchmark: investors understand sustainability of portfolios worldwide
Score out of 100
Again focuses on efficiencies in water, waste, energy but also employee satisfaction and gratification.

43
Q

What are the new rules of conduct?

A

Integrity, Professional Competence, Service, Respect (D&I), Public interest

  • Members and firms must be honest, act with integrity and comply with their
    professional obligations, including obligations to RICS.
  • Members and firms must maintain their professional competence and ensure
    that services are provided by competent individuals who have the necessary
    expertise
  • Members and firms must provide good-quality and diligent service
  • Members and firms must treat others with respect and encourage diversity and
    inclusion.
  • Members and firms must act in the public interest, take responsibility for their
    actions and act to prevent harm and maintain public confidence in the profession.

Appendix - professional obligations such as CHP, PII Cooperation etc.

44
Q

How is RICS governed?

A

The RICS is governed by a governing council, to which report a management board, regulation board, and an audit committee.

APC I&F (20 decks)

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