Mandatory Competencies Flashcards by William Griffiths

What does your firm do to ensure the health and safety of its employees?

Has a H&S hierarchy and policy which is updated regularly
Training is provided to staff
Internal Audits

How well did you know this?

Not at all

Perfectly

What is the Health and Safety at work act?

What are its basic principles & what penalties are there?

The H&S at Work Act 1974
- UK legislation ensuring health, safety & wellbeing of employees & others
- Safe operation & maintenance of office environment and equipment
- Adequate & appropriate training provided
- Employers must keep H&S policy up-to-date

Unlimited fines
2 years in prison
Director Disqualified

How well did you know this?

Not at all

Perfectly

What is ‘Personal Data’?

Anything that could identify an individual

e.g.
- Name
- ID Number
- Location
- Characteristics

How well did you know this?

Not at all

Perfectly

What is RIDDOR?

Reporting of Injuries, Disease & Dangerous Occurrences Regulations (2013)

Places duty to report on:
- Employers
- Self-employed
- Responsible Persons

If an accident:
- Causes injury
- Occurred at work
- Is reportable

How well did you know this?

Not at all

Perfectly

What are the CDM regulations?

Construction, Design, & Management regulations (2015)

Aims to consider H&S throughout entire projects, from conception to demolition

Projects become notifiable if they:
- Last longer than 30 days
- Are more than 20 workers
- Are over 500 person days

How well did you know this?

Not at all

Perfectly

Tell me about IFRS

International Financial Reporting Standards

In the Red Book

Sets out 2 financial reporting frameworks in the UK:
- IFRS
- GAAP

How well did you know this?

Not at all

Perfectly

Tell me about NPPF

National Planning Policy Framework
- Government planning policy for England

S.8 relates to the provision of healthy, inclusive & safe places

Consideration required through all levels of project management & society

Inclusion includes use, not just access.

How well did you know this?

Not at all

Perfectly

What is valuer registration & what is the purpose?

A risk monitoring & assurance programme that checks Red Book compliance

Assurance of compliance provides protection & confidence for valuers & clients

Indicates competence and reliability

How well did you know this?

Not at all

Perfectly

What is the difference between risk and hazard ?

Hazard - anything that could cause harm

Risk - combination of:
- likelihood of occurrence
- severity of outcome

How well did you know this?

Not at all

Perfectly

What are the:
- 7 Key Principles
- 8 Individual rights
of GDPR?

7 Key Principles:
1) Lawfulness, fairness, transparency
2) Purpose limitation
3) Data minimisation
4) Accuracy
5) Storage limitation
6) Integrity & confidentiality
7) Accountability

8 Individual Rights:
1) To be informed
2) Access
3) Rectification
4) To erasure
5) Restrict processing
6) Data portability
7) object
8) Automated decision making

How well did you know this?

Not at all

Perfectly

What are included in your firms Terms of Business?

Introduction
Persons responsible
Charges
Payment Procedures
Confidentiality
Limitation & Liability
Data Protection
Complaints Procedure
Termination Procedures

How well did you know this?

Not at all

Perfectly

What components would you find in a business plan?
Why are they needed?

Executive Summary
Marketing Strategy
Product or service provided
Management Structure
Responsibilities & Targets

Help to secure new instructions, expand client base and allows for resource planning

How well did you know this?

Not at all

Perfectly

Terms of engagement examples

Client details
Staffing details
Conflict of interest declaration
Scope of work
Assumptions
Fees
Complaint Handling Procedure
Liabilities

How well did you know this?

Not at all

Perfectly

Why would a firm want to RICS accreditation?

Status shows that the firm
- behaves ethically
- handles client money responsibly
- acts transparently
- has necessary skills and competence
- handles complaints appropriately

How well did you know this?

Not at all

Perfectly

What is a safe place?

A place or environment where people feel safe from discrimination, criticism, harassment, and harm.

How well did you know this?

Not at all

Perfectly

What are your firms procedures for checking conflict of interest?

Set out in my company’s Conflict of Interest Policy, available on the Integrated Management System (IMS)

Circulate a quality plan at the start of a new job
Keep the QP on file
Manager must raise any conflict of interest with all affected parties
We must receive client approval in writing before proceeding

How well did you know this?

Not at all

Perfectly

What is a balance sheet?

What is a profit and loss statement?

What is a cash flow statement?

Balance Sheet -
A statement of financial position at a specific point in time (assets, liabilities, equity)

Financial statement -
Statement recording revenue, costs, and expenses (usually quarterly)

Cash flow statement -
Statement showing net cash-flow position to help assess liquidity

How well did you know this?

Not at all

Perfectly

Have you dealt with a complaint before & what did you do?

Complaint from a landowner that a surveyor had taken access without consent

Called client to confirm details
Logged complaint in the complaint handling log
notified complaint handling officer
reviewed practises and held internal meeting to discuss avoiding in the future
the complaint was resolved and did not escalate

How well did you know this?

Not at all

Perfectly

What is the RICS guidance on Health and Safety? Is it mandatory?

Study These Flashcards

RICS Surveying Safely 2018

Guidance - not mandatory

When is it appropriate to use informed consent?

Study These Flashcards

When the member/firm are satisfied that
- proceeding is in all parties best interest
- it is not illegal
- objective, competent, and diligent service can still be provided.

How does your firm ensure it stays profitable?

Study These Flashcards

timesheet and expenditure records
project reviews
Team meetings for resource planning
Performance reviews / appraisals

What guidance does the RICS offer regarding conflict of interest?

Study These Flashcards

RICS professional statement ‘Conflicts of Interest’ 2017

The RICS ethics tree

If a client wanted to pay you in advance of works, how would you deal with this?

Study These Flashcards

Create client account
Provide statement of account
Agree and inform of drawdowns
Provide statement rationalising drawdowns
Provide final statement on completion

How have you agreed an uplift to your fees from a client?

Study These Flashcards

Met client to discuss change in scope
Provide cost estimate, in writing, for additional work
Confirmed new total fee account proposed
Offered further discussion if required
Awaited consent before proceeding

What are the rules regarding financial account reporting?

Companies Act 2006 All PLC's must file annual accounts with Companies House each year And must be kept for 3 years, or 6 for PLC's.

Under what Act are audits required?

Companies Act 2006

How does your company guard against money laundering?

- Anti Money Laundering policy - Conducts AML risk assessments - Adopt internal controls and procedures - Provide Staff Training - Client ID procedures - Keep good records

What is a client money account and what types are there? What are our obligations?

An account holding client money under complete control of an RICS firm/member. Discrete (1 client) General (more than 1) - keep client money safe - use accounts appropriately - ensure controls & procedures are in place

What must we do when holding Client Money?

- Maintain exclusive control over client accounts - ensure no other money is held in that account - ensure 'client' and the firms name are specified in the account name - ensure money is immediately available to the client - Provide banks operating conditions

What must we do in relation to accounting records & control of client money?

- Keep records of all transactions - ensure all transactions align with client instructions - publish money handling procedures on website - prevent overdrafts & rectify any immediately - have adequate data protection in place

What is the RICS Client Money Protection Scheme?

- Run by the RICS - Will reimburse members of public for direct loss of funds - funded by RICS insurance policy Split into 2 parts - General Client Money Protection - Residential agency in England protection

What are the benefits of an inclusive environment?

- Reduced social inequality - Reduced cost on adaptations long-term - Attracts a diverse group of users - Improved economic development

What is the minimum indemnity cover required for firms?

Depends on previous years turnover - - less than £100,000 = £250,000 - £100,000 - £200,000 = £500,000 - Over £200,000 = £1,000,000

What are the RICS rules of conduct?

Rules 1 - Must be honest, act with integrity and comply with their professional obligations Rule 2 - Maintain professional competence Rule 3 - Provide good quality, diligent service Rule 4 - Treat others with respect, and encourage diversity and inclusion Rule 5 - Act in the public interest, take responsibility, and maintain public confidence in the profession.

What would you need if you set up a new practise?

- Insurance - Business Plan - H&S Policy - Complaints Handling Procedure - Bank details - Website & Email Address - Staff Contracts

What is the role of an auditor?

To verify an entities procedures and/or accounts. To examine statements to ensure financial position and practises are accurately represented.

How long do you keep data for?

Bell Ingram Data Protection Policy Held for duration of business relationship, + 1 year Held for up to 6 years to protect against legal risk

What types of conflicts of interest are there & where are they found in RICS guidance?

RICS conflicts of interest professional statement 1st edition Jan 2018 1) Party Conflict 2) Own Interest Conflict 3) Confidential Information Conflict

What must we do regarding conflict of interest?

1) Identify and manage Conflict of Interest 2) Keep records of decision making & measures implemented to avoid them

How do you determine if a gift is appropriate?

- Consult the RICS ethics tree - Consult my firms anti-bribery policy - Consult RICS professional statement 'Bribery, Corruption, Money Laundering & Terrorist Financing' Feb 2019

What is a bribe? What are the consequences of a bribe?

An inducement or reward offered, promised or provided unethically to gain any commercial, contractual, or personal advantage - fines - Imprisonment - Legal Costs - Adverse Publicity

If you accidentally send confidential information to the wrong party, what should you do?

Act Honestly - Inform Client - Inform Manager Act Diligently - Contact recipient & Ask to delete or destroy information Take Responsibility - Learn lessons - Deal with complaints as appropriate

What is informed consent?

Consent given by any party who may be impacted by a Conflict of Interest that they understand: - there is a conflict of interest or a risk of one - The RICS firm knows and understands this - What it is or may be - The Conflict of Interest may inhabit the RICS Firm But remains happy for them to proceed

How is data secured in your firm?

- Paper Files in lockable cabinets - Folders, documents & external storage devices are encrypted - Two-Stage Authentication - Limited access to SharePoint

You are offered tickets to Ascott by a client. Do you accept? What do you do?

Gifts must be proportionate and not used as a reward to gain an advantage I would politely decline, log this in the firms gifts & hospitality register and if I was concerned about bribery, report to the manager.

Mandatory Competencies Flashcards

(45 cards)