SoE - Examples (Level 3) Flashcards
Tell me about an instance of when you have been offered a gift or hospitality by a client
Received a bottle of wine for Christmas, I could accept as from client by chose to share with members of the team working on that client, as per Workmans policy.
Tell me about what you would do if you felt that an instruction was outside your scope of experience or knowledge.
Notify my partner in charge and be transparent with my client noting that I cannot provide advice and recommend a 3rd party expert.
Tell me about an instance of when you have handled client’s money.
When collecting rent monies which are due to my client, these moneys are transferred to a discreet client account, labelled client with a unique client identifier.
How would you keep client’s money securely and safely held?
Ensure appropriate accounting controls are in place and ensure the client has knowledge of the account details and has instant access to funds. Ensure that the account is labelled clearly and obtain written confirmation from the bank that monies are NOT to be transferred or combined.
Tell me about how you would handle a client complaint.
Raise with PIC and attempt to resolve in the first instance, failing that, refer to the complainant to Workmans CHP and advise that they address to our complaints handling officer in writing.
Acknowledge in 7 days and formal response in 28 days, detailing a property redress scheme, CEDR.
Tell me about a conflict of interest check you have carried out.
New instruction, check tramps to see whether the property appears. The property did not and therefore safe to assume no prior involvement and the instruction proceeded as planned.
If you identified a potential or actual conflict of interest, how could you handle this?
Refer to workman’s advisory board for them to review and decide whether this is rejected or can be managed via information barriers, if so, then ensure sufficient controls in place, such as IT restrictions or working in separate offices. PIC to log on COI database.
Tell me about when you have provided a high standard of service.
By ensuring I meet my client’s KpIs with respect to rent collection
Tell me about how you have promoted trust in the profession.
By ensuring I always am clear and concise with my communication to landlords and tenants alike.
Explain how you have taken responsibility in your current role
By ensuring that I notify my client as soon as possible if there may be a delay to agreed timescales, for example, to producing a lease plan for a letting.
Tell me about how you treat clients with respect.
Through regular and polite speaking and ensuring I response within 24 hours.
Tell me about how you treat other surveyors with respect
Always available to assist internally and always act in a polite and transparent manner.
Explain the key steps you would take if you decided to set up in practice as a sole trader after qualifying.
Inform RICS, get appropriate PII cover (RICS approved), Ensure CHP in place and get approved by RICS and pass this to PII insurer. Ensure I have a locum in place, register for regulation by RICS
If a prospective purchaser offered you a financial incentive to accept their offer,
explain how you dealt with this.
Raise immediately with PIC and Advisory Board and who would then flag with the appropriate authority and RICS
What would you do if you were asked by a client to reduce a fee proposal to win new work?
I would state that the fee is based on the resource required for the scope of work, and that we could reduce the fee if the scope of work is reduced
What would you do if you became suspicious that a client was involved in money laundering?
Submit a Suspicious Activity Report to the NCA
You mention approving improvements to HVAC – how did you act within your scope of competence?
I was aware that review of technical M&E was outside my scope of competence and therefore recommended and instructed a consultant to review.
14 Austin Friars (Payment Terms from Quarterly to Monthly)
- How would changing payment terms from quarterly to monthly help the Tenant?
Cash Flow Management
14 Austin Friars (Payment Terms from Quarterly to Monthly)
- What does ‘Greater than average risk’ mean?
This means that we should monitor the tenant closely
14 Austin Friars (Payment Terms from Quarterly to Monthly)
-What comfort would that give in considering the proposal to move to Monthly?
Recommended by the financial review, to ease cash flow pressures on the tenant and to have no loss of funds.
Can you give me an example where VAT is payable on rent, why, and how this is
treated for accounting purposes?
Where the property is elected for VAT.
L charges VAT, L can recover property related expenses VAT from HMRC
Can you give me an example where rent has failed to be paid, what action was
taken between day 7 and 21 to meet your Clients KPI’s?
Yes, where the tenant had failed to make payment at Southdown’s business park and the tenant was crar’d as they are a persistent late payer.
Data Management
- Talk me through how you sourced and compiled key tenancy data into a report format?
The first step Is to ensure the Information Is accurate by reviewing the source material which then gets processed and uploaded Into TRAMPS. This then enables me to download and run reports from our management systems to present property Information/tenancy schedule reports
Data Management
- Talk me through a data rectification you’ve completed as part of a periodic review you conducted
Upon reviewing the data, I noted that a break date was Incorrectly showing and therefore, I ensure I undertook a lease amendment form to rectify this to ensure It was showing on the management system
Data Management
- Give me a specific example of a DI you’ve completed, data included and purpose.
Upon completion of a new lease, I had to Input the data of the new lease Into a Lease Input form which feeds Into our management system - I use the source material and this gets checked and reviewed by a senior member of the team before being processed on management systems.
Data Management
-How have you benchmarked from analysed historic data?
when setting service charge budgets, historical evidence forms the basis of budget setting from the upcoming year.
Data Management
-How have you advised on security of data?
I have advised on the security of data when uploading information to a secure solicitor data site for the purposes of sales/lettings.
