Ethics Level 3

Question 1

Bradda Prop Co: Why did you refuse the new instruction for the client?

Answer 1

No access to software/data - wouldn’t be precise.

• Service would have been poor.
• Would not have acted with openness and honesty.
• PI wouldn’t have covered the advice if a claim was made.

Question 2

How do you carry out reinstatement cost valuations?

Answer 2

Measure the property.
Record construction.
Consider materials, services etc.
Find rebuild data for comparable property’s per m2 (BCIS)
Adjust calculation based on property/location.

Rebuild data is presented on an element basis (sub structure etc.)

Question 3

Littleburn Farm: Why did you recommend a SE?

Answer 3

Out of my area of competence.

Question 4

How often should reinstatement cost assessments be undertaken?

Answer 4

RICS suggests every 3 years or when there’s a significant change.