Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Alex Martin APC > Mandatory Competencies > Flashcards

Mandatory Competencies Flashcards

1
Q

Who is the President of the RICS?

A

Ann Gray

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

Who is the RICS Chairman?

A

Martin Samworth

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

When was RICS established?

A

1868

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

What is LionHeart?

A

LionHeart is an independent charity specifically designed for past, present and future RICS professionals and their families.

Their aim is to support members through difficult times, whether personal or professional, from the beginning of their career as an APC candidate or apprentice, right through to retirement

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

What is Royal Charter?

A

Awarded in 1881 by Queen Victoria, purpose is to “maintain and promote usefulness of the profession for public advantage”

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

What are the RICS Bye-Laws?

A

Byelaws are local laws made by a local council under an enabling power contained in a public general act or a local act requiring something to be done – or not done – in a specified area.

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

What is the structure of the RICS?

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

What is your role under CDM?

A

CDM - advise client of obligations. The client can’t be relieved of their obligations, but can delegate tasks. Ensure client can appoint a competent team.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

How do Arcadis deal with client money?

A

Arcadis do not handle client money.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What are the types of membership within the RICS?

A

Candidate, Associate, Member, Fellow, Honory Member

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

How many countries does the RICS operate in?

A

150.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

How many RICS members are there?

A

134,000 - stated in Modus

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

Where is the RICS HQ?

A

12 Great George Street, Parliament Square, London

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

What is the RICS motto?

A

‘Est modus in rebus’ – there is measure in all things

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

What is the RICS?

A

It is an international institution that offers advice on property, construction, project management, dispute resolution and environmental issues to clients and the public.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What is the role of the RICS?

A

It has four main roles
- Regulate and promote the profession
- Maintain the highest educational and professional standards
- Protect Clients and consumers through a strict code of ethics and professional standards
- Provide impartial advice, analysis and guidance

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

What are the five principles of better regulation?

A
  • Proportionality
  • Accountability
  • Consistency
  • Transparency
  • Targeted
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

What are the five ethical standards?

A
  • Act with integrity
  • Always provide a high level of service.
  • Act in a way that promotes trust in the profession.
  • Treat others with respect.
  • Take responsibility.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

What is the difference between integrity and ethics?

A

Ethics refers to a set of principles that guide behavior, whilst integrity refers to the quality of being honest and fair.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

What should you consider before taking instruction from a client?

A
  • Ensure I am competent to undertake the role.
  • Ensure there are no conflicts of interest.
  • Understand and agree the terms of engagement.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

Why might a surveyor turn down works?

A
  • Not in line with PI
  • Beyond competence
  • client wont sign the contract
  • Conflicts of interest
  • Client is money laundering - failed money laundering checks.
22
Q

What would you do if you were offered a bribe within Arcadis?

A
  • Gather evidence
  • Maintain confidentially
  • Report internally
  • Report to RICS
23
Q

What would you do as a sole practitioner if you were offered a bribe?

A
  • Gather evidence
  • Maintain confidentially
  • Report to RICS
24
Q

What is a liability cap?

A

A liability cap is a contractual agreement that a client can only claim damages up to the
amount agreed, even if the law would otherwise award a greater sum in damages.

25
Q

Why do members and firms require professional indemnity insurance?

A

‘Firms must ensure that all previous and current professional work is covered by adequate and
appropriate professional indemnity cover that meets the standards approved by RICS.’

  • ensure that if the firm faces a claim, it is protected from financial loss that it cannot meet
    from its own resources
  • ensure that the firm’s clients do not suffer financial loss, which the firm cannot meet.
26
Q

How is PI calculated?

A

On the firms previous annual turnover, or the estimated turnover for a new firm:

£100,000 or less - minimum £250,000

£100,001 - £200,000 - minimum £500,000

£200,001 or above - minimum £1 million.

27
Q

What is insurance policy excess?

A

Policy excess is the amount of money that an individual must pay out of their own pocket before their insurance company covers the rest of the expenses

28
Q

What is the maximum level of uninsured excess on a PI policy?

A

If turnover is £10m or less, the greater of 2.5% of the sum insured or £10,000.

29
Q

Why must insurance policies be retroactive?

A

Retroactive insurance is a type of insurance that provides coverage for losses that have already occurred but have not yet been reported.

30
Q

What are the RICS requirements for PII?

A
  • Minimum level of indemnity
  • must be fully retroactive
  • Underwritten by an RICS listed insurer
  • Cover for all past and present employees
31
Q

What is run-off cover?

A

A type of PII policy that covers the policy holder against claims when the business has been acquired, merged or ceased operations. The run-off date marks the end of the active PII coverage and the start of the run-off policy.

32
Q

Why is run-off cover required?

A

To ensure that firms, members and their clients are not exposed to financial detriment in the
period following a firm ceasing to trade, RICS requires firms to obtain fully retroactive run-off
cover.

33
Q

What are the RICS requirements for run-off cover?

A

£1,000,000 for a minimum of 6 years from cessation.

34
Q

What is Pro Bona work?

A

Pro bono work is a voluntary professional work undertaken without payment.

35
Q

What is the RICS process for reporting money laundering?

A
  • Gather evidence
  • Maintain confidentially
  • Report internally
  • Report to RICS
  • Send SAR (suspicious activity report) to the national crime agency.
36
Q

What is money laundering?

A

The concealment of the origins of illegally obtained money.

37
Q

Should RICS regulated firms have a written Policy for Bribery, Corruption, Money Laundering and Terrorist Financing?

A

Yes.

38
Q

Where should gifts and hospitality be logged?

A

On the gifts and hospitality register.

39
Q

How do you handle client money?

A

At Arcadis, we don’t handle client money.

If I was to handle client money, Rule 1 states that firms are to keep client money safe and have appropriate accounting controls. This includes distinguishing clients’ money from your firm’s money and keeping clients’ money in a designated account.

Firms that hold clients’ money will receive Regulatory Review Visits. If firms hold clients’ money they are charged an annual regulatory review fee to cover the cost of regulatory review visits.

40
Q

What are some key elements of the Bribery Act 2010?

A
  • Offence to offer a financial or other advantage to another person to perform improperly a relevant function or activity,
  • Offences relating to being bribed.
  • Organisations are to prevent bribery.
    Policies articulate a commercial - Organisations anti-bribery stance, show how it will be maintained and help to create an anti-bribery culture
41
Q

What is the Limitations Act 1980?

A

The Limitation Act 1980 is a statute of limitations that provides time limits within which legal action may be taken for breaches of the law in England and Wales.

42
Q

Who is the RICS CEO?

A

Justin Young

43
Q

What is the Equality Act 2010?

A

A legal framework for preventing discrimination and promoting equality. The act details 9 ‘protected characteristics’, including age, gender, gender reassignment, disability etc, and legally protects these characteristics from direct and indirect discrimination.

44
Q

What is the RICS?

A

The RICS is a world leading institution, that promotes and enforces the highest qualifications and standards for the development and management of land, real estate, construction and infrastructure.

45
Q

Why do you want to be a member of the RICS?

A
  • It is an internationally recognised professional qualification
  • Confidence for my clients that are receiving a high quality service delivered within an ethical framework
  • Allow me to give back to the industry and help to mentor upcoming candidates for their APC.
  • Push myself to be the best professional version of myself.
46
Q

What are the RICS CPD requirements for members and candidates?

A

48 hours 50% formal.

20 hours 50% formall.

47
Q

What are the levels of membership within the RICS

A

Fellow
Member
Associate

48
Q

What is the Royal Charter?

A

Awarded by Queen Victoria is 1881, the purpose of the Royal Charter is to promote and maintain usefulness in the profession for the public advantage.

49
Q

What is the difference between integrity and ethics?

A

Integrity refers to the individual characteristics of acting within a moral framework, whereas ethics is a broader concept, that encompasses a system of ethical behavior that guides actions and decision making.

50
Q

What is the Standards and Regulation Board?

A

The Standards and Regulation Board is an independent board within the RICS that’s primary responsibility is to oversee and enforce the professional standards and regulations set by RICS. Its 4 main functions are:
- Setting and updating standards
- Regulation and compliance
- Complaints handling
- Guidance and support

Alex Martin APC (25 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions