Client Care - Level 2

Question 1

What process needs to be in place for handling clients money?

Answer 1

RoC 8 for Firm - Client Money

1. Clients must always have access to funds
2. ‘client’ must be in the account name
3. records of transactions/balance sheet must be kept
4. agreed interest
5. agreed terms and client informed of account details
6. keep separate and identifiable
7. must be be overdrawn
8. controls in place to ensure funds are secure
9. competent staff to process client money

Question 2

What components must a CHP include?

Answer 2

RICS provides a template to assist firms which states;

1. complaint reviewed by senior member of firm or complaints officer
2. the compliant reviewed by independent 3rd party

• notify PI insurer of complaint
• must include the contact details of those who will deal with the complaint
• must include a redress mechanism
• must be clear simple
• must be free except stage 2, but fees covered by the complainant

Question 3

What is client care?

Answer 3

Looking after a client’s best interests and providing an appropriate service that satisfies their needs.
Can be achieved by 1. professionalism 2. competence 3. trust 4. communication

Question 4

When should you decline an instruction of new work?

Answer 4

1. If there is a conflict of interest
2. If you are not competent to do the work
3. If it involves illegal activities

Question 5

What is a conflict of interest?

Answer 5

Where there is reduced impartiality as there is a pre-existing relationship which affects the duty to deliver services for a client

Question 6

What makes up a fee proposal/fee bid?

Answer 6

1. Executive summary
2. Clients needs/ requirements
3. Project issues
4. Benefits for client/ experience of firm
5. Terms and conditions
6. Methodology
7. Proposed fees

Question 7

How would you process if a client wanted you to work with them despite a conflict of interest?

Answer 7

I would obtain informed consent in writing.
I would ensure that the client is fully informed about the Conflict of Interest and the associated risks and other options available.

Question 8

What is a client brief?

Answer 8

The purpose of the brief is to provide a firm foundation of the intention of the project.
It is a formal statement of the objectives and functional requirements.
Provides sufficient details so tasks can be executed by any team.

Question 9

How would you limit the risk of working with a client who may be financially unstable?

Answer 9

I would carry out a screening process;

1. Credit check - Dun & Bradstreet
2. Company Search - check the information on Companies House
3. Review their accounts
4. Seek references to judge reliability.

Question 10

If you client asks you to lower your fees because of their limited funding, what would you do?

Answer 10

The client would need to pay the agreed fee or negotiated to reduce the scope of services.

Question 11

Who are your clients?

Answer 11

An individual or firm to who you or your firm provide a service to.

Question 12

How do you establish your clients’ objectives?

Answer 12

The client brief

Question 13

What influences how a fee is calculated?

Answer 13

1. Time spent multiplied by an hourly rate
2. Percentage of compensation received
3. a fixed fee agreed on a scope of works

Question 14

What is a KPI?

Answer 14

Key Performance Indicator

Enables a team to monitor performance and make smart decisions.

Question 15

How are KPIs used?

Answer 15

1. Goal measurement
2. Providing information and feedback
3. Education
4. Staff morale
5. Consistency and continuity

Question 16

When have you demonstrated successful communication with your client?

Answer 16

Cambridge Gate boiler room 5

1. delivering bad news about installation
2. advising on what was necessary

Question 17

What do you understand about client care?

Answer 17

It is a continuous process or concept of understanding client’s requirements, suggestions and complaints.

Question 18

How will you identify and utilise the systems and processes for managing client care?

Answer 18

1. Customer complaints procedure
2. Customer satisfaction questionnaires
3. Client feedback meetings
4. Lessons learned workshops

Question 19

How do you act on feedback from a client?

Answer 19

1. Listen
2. Understand their needs
3. Take actions required
4. Communicate updates

Question 20

What is the RICS Client’s money protection scheme?

Answer 20

The main purposes of the
scheme are;
1. RICS firms to offer client’s protection inline with rules
2. to compensate Clients of an RICS firm for the losses of its money
3. Gives some protection to members of the public by making funds available for their reimbursement when all other avenues have been exhausted. The RICS firm repay the losses via insurance or its assets.

Question 21

Why cant you say the company name?

Answer 21

Client confidentiality

Question 22

Give examples of differing client requirements.

Answer 22

1. Freehold copmanies - major works/compliance

2. Developers - new builds - defects/compliance/ service offering

Question 23

How do you create a good relationship and build trust?

Answer 23

1. Communication
2. listening and delivering
3. Providing clear and reasoned advice

Question 24

How do you communicate effectively?

Answer 24

1. clear and concise emails and report
2. detailed and clearly set out
3. invite questions

Question 25

What is FTSE 100?

Answer 25

100 largest copmanie listed on London Stock Exchange

Question 26

What timescales are set in a HSFRA?

Answer 26

1 month - signage/ electrical safety | 3-6 months - fire alarm installation because of section 20.

Question 27

What is a freehold management company?

Answer 27

A company owned by leaseholders and collectively they own the freehold of the block.

Question 28

What reporting frequency would you recommend for a new client?

Answer 28

Finance/management - monthly then 1/4ly | General updates - monthly then ad hoc

Question 29

What would you do if you were ask to survey the structure of a building

Answer 29

I would act within my area of expertise and act with integrity and appoint a competent professional.

Question 30

what are normal key objectives?

Answer 30

I understand that a key client objective is to efficiently manage the service charge. I review each budget annually and re-tender maintenance contracts. I also update my client with the year-to-date expenditure on a quarterly basis.