FINAL QUESTIONS

Question 1

RICS Surveying Safely
Hierarchy of risk control

Answer 1

1. Elimination of risks (ie drone instead of working from height
2. Subsution of hazardous materials
   3.Engeneering controls- scissor lift to avoid working from height
   4.Admiinistrative controls - reducing need for lone working
3. PPE

Question 2

Health and Saftey at Work 1974 as amended

Answer 2

• duty of every employer to ensure H&S welfare at work for all employees
  -Policed by Health and Safety Executive
  -criminal offence with fines or impronment

-Corortate requirements
-Risk assessment
-staff training
-Policies and procedures

Question 3

safe person concept (RICS Guidance note surveying safely)

Answer 3

-each individual assumes own responsiblity
-4 major duties of an emplyer are to provide
- a safe working environment
-safe systems of work
-sage equiptment and competent staff
-competent staff

Question 4

What is a profit erosion

Answer 4

-how long you can you keep paying loan before you go bust
-most lenders want to see a profit erosion figure of 3 years

Question 5

Under let

Answer 5

1.capitalise rent passing at NIY
2.capitalise MR @ ARY perp, you need to reflect time value of money and aply Present Value multiplier for a term of years

Question 6

Over rented

Answer 6

over paying - higher chance of tenant defaulting
Start with bottom slice in which you are capitalising MR
-Bottom slice = MR @ NIA into perp and use PV formula for term to reflect time value of money
-also need to capitalise Top slice = capitalising the difference RP-MR @ARY

Question 7

What sections specifically in the Estate Agents Act do you refer to

Answer 7

-When instructing agents I have regard to…
-S18
-clarity as to the terms of agency work
-specify costs (brochure) and fees in advance and in writing
-specify nature of agency and selling rights to be agreed
-confirm no conflicts of interest

Question 8

What are the principles of the estate agency act 1979

Answer 8

1. Clarity as to the terms of agency (s18)
2. Openness regarding personal interests (s21)

Question 9

What happens if there is a data security breach

Answer 9

-Must be reported to ICO within 72 hours

Question 10

what are the characteristics of the Equality act 2010?

Answer 10

Service providers’ to make reasonable adjustment to help less-abled persons (physical and mental) access buildings

Question 11

What is an expert witness

Answer 11

A
Surveyor who gives expert opinion in court
Must be impartial

Question 12

What is an advocate

Answer 12

Someone who represents client in court

Question 13

What is the role of an Ombudsman when a complaint is recieved?

Answer 13

An ombudsman is a person who has been appointed to look into complaints about companies and organisations. Ombudsman schemes are independent, free and impartial

Question 14

What is UK GAAP?

Answer 14

Regulation body establishing how company accounts must be prepared in the UK

Question 15

What is ratio analysis

Answer 15

Measures the ability of the company to pay off current liabilities by converting assets into cash

Question 16

Whats the difference between management accounting and financial accounts

Answer 16

-Management accounts are internal
-Financial are required by law

Question 17

What does the guidance note RICS Surveying Safely: Health and Safety Principles for Property Professionals, 2nd edition 2018

Answer 17

Guidance for best practice relating to H&S
Key Areas - Personal resonisbilities for members and firms
-Risk assessments
-Visiting premises and site
-fire saftey
-workplace health and safety
Safe person concept - individual assumes behaviour for their self