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APC 2023 > Summary of Experience - Mandatories > Flashcards

Summary of Experience - Mandatories Flashcards

1
Q

What are the RICS Rules of Conduct 2021?

A
  1. Be honest, act with integrity and comply with obligations to RICS
  2. Maintain professional competency and ensure services are provided by competent people
  3. Provide a good quality and diligent service
  4. Treat others with respect and encourage diversity and inclusion
  5. Act in the public interest, take responsibility for actions and maintain public confidence in the profession
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2
Q

What are the six ethical principles related to the Rules of Conduct? (HICSRR)

A
  1. Honesty
  2. Integrity
  3. Competence
  4. Service
  5. Respect
  6. Responsibility
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3
Q

Provide some example behaviours relating to Rule 1 of Rules of Conduct

A
  • Members must not mislead others by their actions, or be complicit in the actions or omissions by others
  • Members must now allow themselves to be influenced improperly by others (i.e gifts, hospitality or payments)
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4
Q

Provide some example behaviours relating to Rule 2 of Rules of Conduct

A
  • Only to undertake work if they have the knowledge, skills and resources to carry out competently
  • Must stay up to date and comply with relevant legislation, or codes of practice / standards
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5
Q

Provide some example behaviours relating to Rule 3 of the Rules of Conduct

A
  • Understand client’s needs and objectives before accepting any professional work
  • Members must undertake their work in a timely manner, with due care, skill and diligence in line with RICS standards
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6
Q

Provide some example behaviours relating to Rule 4 of the Rules of Conduct

A
  • Respect the rights of others and treat others with courtesy
  • Treat everyone fairly and do not discriminate against anyone on improper grounds
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7
Q

Provide some example behaviours relating to Rule 5 of the Rules of Conduct

A
  • Respond to complaints made against them promptly, openly and professionally
  • Cooperation with investigations into complaints or concerns, and provide information when reasonably requested
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8
Q

What is your firm’s gift and hospitality policy?

A

Gifts over the value of £50 to be listed, and hospitality in excess of £150 to be listed

Line manager to sign off on anything over the value of £100

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9
Q

What do you know about the Bribery Act 2010?
What did you learn in your training?

A
  • It aims to reduce bribery in the UK and abroad
  • A bribe is anything that can the giving, offering or receiving advantage for an action which is illegal
  • Based on 6 principles (PCRDCM)
  • Four offences (BROF)
  • Penalties include unlimited fine or max. 10 years imprisonment (policed by Serious Fraud Office)
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10
Q

How would you identify a conflict?

A
  • Check records and database
  • Find the full facts
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11
Q

Tell me about the RICS Conflict of Interest 2017

A
  • Mandatory statement that came into effect in Jan 2018
  • States you must not advise a client where a conflict is involved unless informed consent is provided by those impacted
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12
Q

What are AML requirements?

A

Set out under statutory regulations on Money Laundering, Terrorist finance and transfer of funds from 2017

  • Requirement to have a written risk assessment
  • Implement systems, policies, controls and procedures to address money laundering
  • Adopt appropriate internal controls
  • Provide staff training
  • Comply with CDD, EDD and SDD requirements
  • Comply with regulations regarding PEPs
  • Ensure appropriate record keeping
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13
Q

What policies are in place at Mileway relating to AML?

A
  • Verify and confirm identity of any proposed lessee or purchaser i.e ID, utility bill
  • Verify source of funds and review accounts
  • Cross reference with companies house
  • Look out for any suspicious activity i.e very desperate, engaging in negotiations without viewing etc.
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14
Q

What are the CPD requirements for Members?

A
  • 20 hours minimum per annum by members
  • At least 10 hours formal
  • Keeping up to date with RICS rules of conduct during a rolling 3-year period
  • Logging CPD online via RICS website
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15
Q

What are the mandatory rules for members and firms set out in Appendix A?

A

Members must:
- Comply with CPD requirements
- Cooperate with the RICS
- Provide all information reasonably requested by the standards and regulation board

Firms must:
- Publish a complaints handling procedure, including an alternative dispute resolution provider (approved by RICS) and maintain a complaints log
- Ensure all work is covered by appropriate PI that meets RICS approved standards
- If a sole principal, have arrangements for work to be continued (locum)
- Cooperate with RICS
- Display a designation of RICS regulation (logo)
- Report to RICS any matter required to report under Rules for Registration of firms

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16
Q

What is your firm’s CHP?

A
  • Verbal acknowledgement - seek to rectify situation first
  • Complaint passed onto our HR
  • 1 day to acknowledge and 7 days to investigate
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17
Q

What is the RICS Guidance on CHPs?

A

Set out within RICS Guidance Note 2016

  • CHP must be approved by the RICS

Recommends:

  • Stage 1 (In house) - Complaint must be in writing to CHO. Should be acknowledged within 7 days and investigated within 28 days.
  • Stage 2 (ADR) - using an independent redress scheme i.e RICS Dispute Resolution Service
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18
Q

What is PI insurance?

A

Mandatory for surveyors in practice and must be approved by the RICS

To protect against negligence claims when there is a duty of care breached and a claim for damages

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19
Q

Talk me through the PI levels

A

Based on firms previous turnover
0-100k is £250k
100-200k is £500k
200+ is £1m

*If a new business you estimate the turnover

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20
Q

What was the value of the golf day and was it sensible to accept the invitation?

A

£150 - logged on gift register and signed off with line manager.
It was proportionate to value of works that were ongoing so yes.

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21
Q

Relating to the rent review undertaken at Reading Bridge House, what did you do as part of your conflicts of interest check?

A
  • Checked our database to ascertain whether any conflicts were present
  • Undertook a full fact finding review
  • Established no conflicts were present
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22
Q

As part of your terms of engagement for the rent review on Reading Bridge House, what was your fee proposal?

A

Performance based fee.
It was agreed we’d receive a flat fee of £5,000 with 10% of the uplift from current rent on top

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23
Q

Relating to your rent review at Henwood, how did you ensure both parties were comfortable with the agreed figure?

A
  • Clearly set out my proposed settlement figure in a clear and concise written manner.
  • Laid out evidence within the email to ensure the tenant understood the justification.
  • Sought a clear response, stating their acceptance of the proposed terms
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24
Q

Talk me through Surveying Safely 2018

A
  • Sets out basic, good practice principles for management of H&S
  • Includes responsibilities at corporate and individual level

States that firms must provide:

  • A safe working environment
  • Safe work equipment
  • Safe systems of work
  • Competent staff
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25
Q

What is the structure of Surveying Safely?

(PAHOVFRG)

A
  1. Personal responsibilities
  2. Assessing hazards and risks
  3. Health and Safety at Work
  4. Occupational Hygiene and Health
  5. Visiting site or premises
  6. Fire safety
  7. Resi property surveying
  8. General procurement and management of contractors
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26
Q

What is the safe person concept?

A

The responsibility for your own actions, and H&S of others at work

27
Q

What is a hazard?

A

Anything that has the potential to cause harm

28
Q

What is a risk?

A

The probability that someone will be harmed

29
Q

What is a risk assessment?

A

Document that sets out hazards present, and identifies those at risk:

  1. Identify the hazards present
  2. Identify people at risk
  3. Evaluate risk and consider likelihood
  4. Record findings in form
  5. Review regularly
  6. Advise those affected on outcome and ensure precautions to minimise risk
30
Q

What is the Control of Asbestos Regulations 2012?

A

Statutory duty to manage asbestos in commercial buildings

  • Appoint responsible person
  • Undertake asbestos survey
  • Maintain asbestos register and management plan (if present)
  • Monitor and review (6 monthly or after refurb)

Punishment

  • Criminal offence
  • Unlimited fine and/or 2 yrs imprisonment
31
Q

Talk me through the CDM regulations 2015?

A

Governed by the HSE
- Relates to the H&S during the design and management of all commercial building projects
- Aims to improve the management and co-ordination of H&S
- HSE have to be notified (via F10) if project lasts longer than 30 construction days or requires more than 20 workers
- A CDM file must be maintained and passed onto occupier of the building

Punishments:

  • Policed by the HSE who can prosecute and issue fines
  • Can also issue improvement and prohibition notices
32
Q

Tell me about the Health and Safety at Work Act 1974

A
  • Duty to every employer to ensure health, safety and welfare at work for all employees
  • Policed by the HSE – with fines/imprisonment
  • Must report injuries / dangerous occurrences (1995 regulations)
  • Undertake and review risk assessment (1999 regulations)
33
Q

What is your firms lone working policy?

A
  • All visits are put in my shared electronic diary
  • Inform my line manager upon arrival and exit of site
  • Ensure I have a fully charged mobile phone
  • Call office and ask for ‘John Hurt’ if in danger
34
Q

What was noted in your risk assessment ahead of visiting the refurbishment at Clarke Road?

A
  • The hazards present and the likelihood and severity of them happening
  • Ongoing refurbishment so noted hazards such as sharp materials, potential for asbestos, falling items from ceiling, tripping
35
Q

What PPE was required on your inspection at Clarke Road?

A
  • Hi Vis Jacket and a hard hat
  • Signing in on arrival and staying within the designated walk ways in the unit
  • Followed H&S briefing given on-site
36
Q

What is a Profit and Loss statement? How does this differ from a balance sheet?

A

A P&L is a summary of a business’s income and expenditure transactions, prepared on an annual basis

A balance sheet is a statement of the business’s financial position showing it’s assets and liabilities at a given date

37
Q

What is the difference between management accounts and company accounts?

A

Management accounts are prepared for internal use only by a business and are not audited

Company accounts are prepared by an accountant (audited)

38
Q

What is IFRS16?

A

International Financial Reporting Standards

The lease accounting standard which all companies have to comply with

39
Q

What is GAAP?

A

Generally Accepted Accounting Principles

  • Accounting Standards published by the UK Financial Reporting Council
40
Q

What are the different types of business planning?

A

Strategic - identifying goals and objectives in achieving an overall vision
Operational - identifying the process and personnel to achieve the goal
Corporate - defining corporate goals and instilling them within the workforce

41
Q

What is your company’s business plan?

A
  • Core+ plus ‘Safe’ investments
  • Re-investing in assets to future proof and provide high quality last-mile logistics space
42
Q

What is SWOT analysis and how do you use it to rate your portfolio against competitors?

A

Strengths, Weaknesses, Opportunities and Threats

Used to identify the above within our portfolio and use other portfolios to weight against Mileway’s i.e weaknesses against another asset

43
Q

Why is it important to avoid conflict in the workplace?

A
44
Q

What is PACT?

A

Professional Arbitration on Court Terms - used for lease renewal disputes

45
Q

What is the difference between arbitration and an independent expert?

A
  • An arbitrator makes an award based on the cases and evidence made by both parties
  • An independent expert has expert knowledge of the subject area, and can make a decision based on their own expertise and do not need to rely on the evidence presented to them
46
Q

What is the difference between mediation and adjudication?

A

-A mediator is someone who facilititates discussions between 2 parties to exlore whether a solution can be found
- An anjudicator uses their own knowledge to reach a legally binding decision in a contractual proceeding

47
Q

What is the Data Protection Act 2018?

A

UK’s adoption of EU GDPR from 2016

  • Aims to create a single data protection regime
  • Aims to empower individuals to take control of how their data is used by third parties
48
Q

Why is GDPR important?

A

Ensures the protection of individuals with regard to the processing of personal data and on the free movement of such data

49
Q

What rights are granted under GDPR?

(IARERDOA)

A

Right to:
1. be informed
2. access
3. Rectification
4. erasure
5. restrict processing
6. data portability
7. object
8. automated decision making and profiling

50
Q

How does your internal client store and protect data?

A
  • Password protected and secure online data base for all interest
  • Firewalls, regular back ups off-site and anti-virus protection including training on phishing
51
Q

Talk me through the Equality Act 2010

A
  • The act consolidates discrimination law and provides protection against discrimination and inequality
  • Identifies 4 types of illegal discrimination:
    1. Direct discrimination
    2. Indirect discrimination
    3. Harassment
    4. Victimisation
  • Extends obligations to all ‘controllers of let premises’ (landlord when vacant or tenant when occupied)
52
Q

What is Section 8 of the NPPF?

A
  • Promotes H&S within communities
  • Dictates what planning policies should do
53
Q

What is Part M of the Building Regulations?

A
  • Document on access within buildings
  • Details a set of standards that need to be achieved
54
Q

What are the three core pillars of Sustainability?

A

Economic, Social and Environmental

55
Q

What is the Brundtland definition of sustainability?

A

“Meeting the needs of the present without compromising the ability of future generations to meet their own needs.”

56
Q

What is MEES? What are the current guidelines?

A

Minimum Energy Efficiency Standards 2015

  • Regulations require a minimum EPC of E to let a building from April 2018 onwards and of all existing leases from April 2023
  • By 2025, all new lettings must reach an EPC rating of C and all existing leases by 2027
  • By 2030, all commercial buildings to have a rating of B
57
Q

What are the MEES exemptions?

A
  • If a building does not require an EPC i.e. a place of worship
  • Industrial units or workshops with a low energy demand
  • Where the tenancy is less than 6 months with no security of tenure
  • Where the tenancy is more than 99 years
  • When it is not feasible to improve the EPC with a payback period of 7 years (at least 3 quotes required)
  • When it can be proven that works will devalue a property by 5% or more
  • When tenant consent for LL to undertake works is refused

Exemptions last for 5 years and cannot be transferred on sale

58
Q

What are the penalties for MEES non-compliance?

A

Policed by the Local Authority

  • Where breach < 3 months - up to £5,000 or 10% of the rateable value (max. penalty of £50,000)
  • Where breach > 3 months - up to £10,000 or 20% of rateable value (max. penalty of £150,000)
59
Q

What does BREEAM stand for? What are the ratings?

A

Building Research Establishment Environmental Assessment Method

  • Rated 9 environmental weightings including energy consumption, water use, transport links, waste management and health & wellbeing

5 ratings:
- Pass
- Good
- Very good
- Excellent
- Outstanding

60
Q

What is the Climate Change Act 2008?

A
  • The basis for the UK to tackle climate change and reduce consumption greenhouse gases etc
  • Established a framework to help achieve this aim
  • Set the goal for UK carbon account to be 100% lower in 2050 than the 1990 baseline
61
Q

Tell me about the Paris Agreement

A
  • Legally binding internal treaty stating a commitment to reduce emissions and adapt to the risks of climate change
  • Works on a 5-year cycle whereby countries are expected to deliver a new plan
62
Q

What is Part L of the Building Regulation?

A

Part L compliance refers to building standards that aim to improve the energy efficiency of new and existing buildings in the UK.

63
Q
A

APC 2023 (23 decks)

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