Ethics Level 3 Flashcards
1
Q
Bradda Prop Co: Why did you refuse the new instruction for the client?
A
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.
2
Q
How do you carry out reinstatement cost valuations?
A
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.)
3
Q
Littleburn Farm: Why did you recommend a SE?
A
Out of my area of competence.
4
Q
How often should reinstatement cost assessments be undertaken?
A
RICS suggests every 3 years or when there’s a significant change.
