APC JE > SOE > Flashcards

SOE Flashcards

(75 cards)

Study These Flashcards
1
Q

RICS requirements Post qualification for CPD?

A
  1. All members must undertake a minimum of 20 hours CPD each calendar year (January to December). 10 hours must be formal
  2. All members must maintain a relevant and current understanding of our professional and ethical standards during a rolling three-year period. Any learning undertaken in order to meet this requirement may count as formal CPD.
  3. Members must record their CPD activity online by 31 January.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

when was the RICS rules of Conduct 2021 published? and what are they? And why did they change?

A
  • 2nd February 2022
  • Applies to members and firms
  • Examples of behaviours for each rule (12 case studies)
  • more of a focus of Inclusive an technology
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

5 benefits of the RICS?

A
  1. Status - Your professional credentials provide unrivalled client and market confidence.
  2. Recognition- Promotion of your professional excellence to governments and markets
  3. Market advantage- RICS status and standards give you a competitive advantage
  4. Knowledge - International practice standards, professional guidance, CPD, and knowledge sharing
  5. Network - Access to 137,500 RICS professionals worldwide
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

5 rules of Conduct?

A

RULE 1
Members and firms must be honest, act with integrity and comply with their professional obligations, including obligations to RICS.

RULES 2
Members and firms must maintain their professional competence and ensure that services are provided by competent individuals who have the necessary expertise.

RULE 3
Members and firms must provide good-quality and diligent service.

RULE 4
Members and firms must treat others with respect and encourage diversity and inclusion.

RULE 5
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.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Conflict avoidance VS Conflict Management

A
  • Avoidance (NO) - Say no to the instruction.
  • Management (Yes) - Say yes, and then steps are agreed and put in place to manage the conflict, such as information barriers/ ethical barriers and written agreement.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

RICS guidance on conflict of interest?

A

RICS Global Professional Statement on Conflicts of Interest 2017

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Minimum procedures for handling complaints.

A

-Stage One (in-house) - Must be raised to the Complaints Handling Officer, must be in writing, acknowledged within 7 days and investigated within 28.

-Stage Two (ADR) – if they are not happy they must go to an independent redress scheme, the client must be informed of the third party this goes to.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Vyner Estate, what were you clients goals?

A
  • Dipsosal of a number of blocks that they though were not generating an income
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

How do you get standard forms?

A
  • Digi net, gets updated regally and all departs use the templates
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What methods of communcation do you use?

A
  • Email
  • Phone
  • Face to Face
  • Letters
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

How did you agree terms and routes for national grid?

A
  • Discussed over Phone and then followed up with.
  • Emails and mailed plans for their routes
  • Reported to contractors
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

When Negotiation between vendors that’s the guidance you followed?

A

Code of Leaseing business premises 2020

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Act for PPE

A

PPE at Work Regulations 2022?

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What is the Health and Safety at Work Act 1974? and what must be done under it?

A
  • Duty to every employer to ensure reasonable practical health, safety and welfare for all employees
  • Report injuries
  • Carry out Risk assessments
  • Healthy and safety information must be avablie on site.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Urban Green Newcastle requires for national Grid?

A
  • Time frames for work
  • ID badges
  • Extent of staff and equipment
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Whats set out in Surveying Safely - Health and Safety Principles for property professionals second edition 2018? (8)

A

1 Personal responsibility for members
2. assessing hazards
3. Workplace H&S
4. Hygiene and health
5. Visiting sites
6. Fire safety
7. residential property surveying
8. Management of contractors

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

GAAP accounting principles (10) (RCSPNPCPMU)

A
  1. Regularity:GAAP-compliant accountants strictly adhere to established rules and regulations.
  2. Consistency:Consistent standards are applied throughout the financial reporting process.
  3. Sincerity:GAAP-compliant accountants are committed to accuracy and impartiality.
  4. Permanence of Methods:Consistent procedures are used in the preparation of all financial reports.
  5. Non-Compensation:All aspects of an organization’s performance, whether positive or negative, are fully reported with no prospect of debt compensation.
  6. Prudence:Speculation does not influence the reporting of financial data.
  7. Continuity:Asset valuations assume the organization’s operations will continue.
  8. Periodicity:Reporting of revenues is divided by standard accounting periods, such as fiscal quarters or fiscal years.
  9. Materiality:Financial reports fully disclose the organization’s monetary situation.
  10. Utmost Good Faith:All involved parties are assumed to be acting honestly.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

What is a Balance Sheet

A
  • Statement of a business finances at any point in time.
  • Assets = Liabilities + Equity
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

What is an income statement?

A
  • A profit and loss account is a summary of the business income and expenditures transactions.
  • On a certain date (usually annually).
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

what is a Cash Flow Statement?

A
  • Finical statement that shows how cash has entered and exited a company during an accounting period.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

RICS guidance relating to client money handling?

A
  • RICS Professional Standard: Client Money Handling, 2019
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

What does GAAP stand for?

A

General Accepted Accounting Principals

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

How did you review Estate rent income?

A
  • Looked at the property and assed the currently market agreed figures
  • Looked at review dates.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

Landlords objectives?

A
  • Good rental income
  • ROI
  • Tenants with good covenant strength
  • Maintain the units value
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Tenants objectives and assessment?
- Business maturity - Current occupation - Operating Market - Other locations
26
Business Plan?
A document that defines the business objectives and suggests strategies to be undertaken to realise how this will be achieved within a defined time frame.
27
Types of interest in a property?
Freehold Leasehold Long leasehold
28
How can an interest affect value?
a leasehold interest delays gaining vacant possession over the asset. Thus is discounted, in given situations (T&R)
29
Three Types of Conflicts
1. 'Party Conflict', two different parties working on the same instruction. 2. 'Own Interest Conflict', Personal interest. 3. 'Confidential Information Conflict', work between two parties that is confidential.
30
Data protections act?
UK General Data Protection Regulation 2016 (GDPR) Data protection Act 2018 (Supplements GDPR) Uk GDPR 2021 (post brexit)
31
Principles of the Data Protection Act 2018? (7)
1. Lawfulness, fairness and transparency 2. Purpose limitation 3. Data minimisation 4. Accuracy 5. Storage limitation 6. Integrity and confidentiality (security) 7. Accountability
32
Benefits of Cross Diversification?
- More efficient - High quality of work - Increase work flow
33
Key Skills for Team work?
- Listening - Discuss - Persuading - Respect - Helping - Sharing - Participate - Communication - Reflection
34
What is an inclusive environment?
One which is designed and managed to allow people with a diverse range of needs and abilities to access and use it.
35
what is MEES?
Minimum Energy Efficiency Standards, 2015 - Property's post the 1st of April 2018 Need EPC of E
36
FG Policy on waste reduction?
- We have a waste management map for materials and identical if there are recyclable in the office - Assessment of on-site materials and best disposal methods and details to escalate hazardous materials
37
What does FG do for Sustainably?
ISO 14001 certification Adopted of environmental Management system to Reduce Footprint
38
What's in a Legal Pack
- Title Register - Mutandum of sale - EPC - Terms and condition of sale - Law - Deed
39
Redhall Farm, what H&S measures did you put in place?
- Identified hazardous areas - PEE - Risk assessment - Took photos
40
Woodside Business park, what due dilligance did you prior to your inspection?
- Local Amenitys - RV and internal areas - Comps
40
Redhall Farm, was there any guidance you followed for H&S on site?
-Surveying Safety 2018
41
Woodside Business Park, how did you ensure the extent of your inspection of the portfolio?
- Agreed in TOB - Phoned and agreed prior.
42
1 Meadow View, What were you looking for in the Title?
- Area - Boundaries - Service charges - RIghts of Way
43
1 Meadow View, Did you follow any guidance?
VPGA 8 Red book (Valuation of Real Property Intrests) - Covers interests in Investigations and inspection - Advise on making appriaote assumptions and recommend lawyers to check
43
Vine House, How do you inspect residential property?
Against Approved Plans - Internal - External
44
Vine House, What were you looking for?
- Situation - Access - Elevation - Floorplan - Water Run off
45
Name a couple of requirements for VPGA 2?
- COI's - Comment on suitability - SWOT - Liable areas - Threats - Sustainability compliance
46
Wood House Farm, are you aware of any IHT Reliefs?
- Yes, But im not competence to comment on them.
47
Wood House Farm, What was Equine, Ag and combination Rate per acre.?
Equine = £20,000 Ag = £10,000 Combination= £13,000
48
Wood House Farm, How did you value Hope Value?
Used SHELLA reports - Not deliverable - Planners confirmed
49
Rough Heys, whats the CTG rates?
Not an area of expectise
50
Hierarchy of Comps?
A -Direct B - Indirect C - Anything else (publications)
51
Land at Lane End, Whats the date you can back date CGT Values to?
31 March 1982 (rebase year)
52
Manchester Airport, was there any guidance for this?
VPGA 9 Red Book
53
Prior Wood, How and did you advise on Mitigation?
No I dont specialise in that area
54
DRC, how did you get build costs? how much was it? what was the sheds value? What was the depreciation? what was the value on the remainder?
Agr0 Business Consultancy Book - Inclusive of fees - 300/SQM - £60,0000 - 75% - £80/SQM
55
Why DRC?
- No comps - Specialist shed
55
Whats NIA?
Net Internal Area. - Use it on retail
56
why did you exlcude common areas?
As the tenat did have solo occupancy hear, furtherfore couldnt use it as there space.
57
Bowden View, Whats GIA? why?
Gross Internal Area - in line with guidance on Code of Measuring practise.
58
Bowden View, what were in issues with accuracy?
- rough surface for tumble wheel - Only methods are dependant on the OS and satellite pictures.
59
What's the difference between Leasehold and Freehold?
Freehold, owner the land and building Leasehold, purchasing the rights to occupy.
60
Manley Road, what fee was agreed?
£1,500
61
Manley Road, whats in a brochure?
Description, Rights of way security agent details sale methods dated photos
62
Whats the Guidance on DRC? why do we have it? can you name anything in it?
DRC method of valuation for financial reporting 2018 - Provides consistency - Statement saying the vals is subject to adequacy profitability for the business.
63
Whats on the heads of term of a sale or Murandum of sale?
Purchasers Vendor Solicitors Agreed Price Exchange date Completion date Items included Deposit Conditions
64
What is the Health and Safety at Work Act 1974? and what must be done under it?
- Duty to every employer to ensure reasonable practical health, safety and welfare for all employees - Report injuries - Carry out Risk assessments - Healthy and safety information must be avablie on site.
65
Health and Safety at Work Act 1974, who police's it?
H&S Executive
66
Why is the Health and Safety at Work Act 1974 implemented?
'Duty to every employer to ensure, so far as reasonably practicable, the health, safety and welfare at work of all employees'
67
what is The Red Book? and what version are we using?
- an RICS Publications that sets out rules and structure to conduct valuations of assets or liabilities - 2021
68
whats the difference between a practise statement and a guidance note?
statement is mandatory
69
Whats the percentage rough difference between GEA to GIA?
2-5%
70
Whats the percentage rough difference between GIA to NIA?
15%
71
CPO valuations? what areas do you depart from?
VPS1-5 are no manditory but must be stated in TOB
72
How did you advise your clients on improving there EPC?
I referred them to the potential improvements on the EPC, that the case officer had identified.
APC JE
flashcards
Decks in class (23)
# Cards
Brainscape helps you reach your goals faster, through stronger study habits.
© 2026 Bold Learning Solutions. Terms and Conditions