Lists!

Question 1

5 Rules of Conduct

Answer 1

• Honesty and integrity
• Competence
• Service
• Respect
• Responsibility

Question 2

6 principles of the bribery act 2010

Answer 2

• Proportionality
• Top level commitment
• Due diligence
• Risk assessment
• Communication
• Review

Question 3

RICS Bye Laws

Answer 3

• Applications
• Membership
• Designations
• Contributions to funds
• Conduct
• Governing council
• Boards, committees
• Procedure for general meetings
• Accounts
• General

Question 4

5 principles for better regulation (this is in relation to rules of conduct for members)

Answer 4

• Transparent
• Proportional
• Accountable
• Consistent
• Targeted

Question 5

Requirements for starting a new practice

Answer 5

• Inform RICS by completing firm details form
• Appoint principle for RICS communication
• Register with RICS for registration
• Arrange PII and send to RICS
• Setup client money handling and protection scheme
• Obtain approval for complaints handling procedure
• Setup complaints log and appoint handling officer
• Log CPD
• Complete annual RICS return
• Use logo kit from RICS

Question 6

6 client money handling principles

Answer 6

• Held in discrete bank accounts labelled client
• Funds available upon request
• Client has bank details
• Bank understands money not to be moved or transferred
• Monthly ledgers and reconciliations
• Never overdrawn

Question 7

Money laundering and terrorist financing regulations 2019 principles

Answer 7

• Requires staff training
• Compliance with due diligence requirements
• Have a ML risk assessment in place
• Treat domestic politically exposed persons as lower risk than other PEPs

Question 8

Workman anti money laundering checks?

Answer 8

• Source of funds
• Nature of client
• Registered address
• Owner, passport

Question 9

3 offences in the proceeds of crime act 2002

Answer 9

• Concealing criminal property
• Arranging criminal property
• Possessing criminal property

Question 10

H&S at work act 1974, 6 pack of regulations.

Answer 10

1. The Management of Health and Safety at Work Regulations:
2. The Manual Handling Operations Regulations:
3. The Display Screen Equipment Regulations:
4. The Workplace (Health, Safety and Welfare) Regulations:
5. The Provision and Use of Work Equipment Regulations:
6. The Personal Protective Equipment (PPE) Regulations:

Question 11

10 GAAP principles

Answer 11

• Regulatory
• Consistency
• Continuity
• Sincerity
• Permanence
• Prudence
• Periodicity
• Good faith
• Utmost good faith
• Non compensation

Question 12

Difference between GAAP and IFRS

Answer 12

• All leases recognised on the balance sheet under IFRS 16
• IFRS is mandatory for London Stock Exchange companies

Question 13

Types of insolvency

Answer 13

• Company Voluntary Arrangement (CVA)
• Compulsory liquidation
• Creditor voluntary liquidation
• Administration
• Receivership

Question 14

MEES 2018
- current requirement
- fines
- exemptions

Answer 14

• Unlawful to let or continue to let with EPC of F or G from 2023
• Fined £5K or 10 of RV for less than 3-month breach
• £10K or 20% RV for more than 3-month breach.
• Exemptions – all improvements have been undertaken, improvements de value the property or if payback of improvements are more than 7 years.

Question 15

BREEAM categories

Answer 15

• Energy
• Waste
• Water
• Pollution
• Transport
• Management
• Materials
• Land use and ecology
• Health and wellbeing

Question 16

Principles of measurement

Answer 16

• Item capable of being measured
• Objectively verifiable
• Taken horizontally except for height
• Clearly documented.

Question 17

What’s on a measurement report

Answer 17

• Date
• Purpose
• Measurement standard (IPMS or code of measuring)
• Basis (GEA GIA NIA or IPMS)
• Unit
• Floor area
• Supportive drawings
• RICS member

Question 18

8 individual rights under GDPR

Answer 18

• Right to information
• Right to access
• Right to rectification
• Right to erasure
• Right to restrict processing
• Right to object
• Right to data portability
• Right to automated decision making.

Question 19

6 principles of GDPR

Answer 19

• Lawfulness, fairness, transparency
• Accuracy
• Data minimisation
• Storage limitation
• Purpose limitation
• Confidentiality and integrity

Question 20

Workman rent collection KPI

Answer 20

• 90% rent collection on day 7
• 95% on day 14
• 98% on day 28.

Question 21

Equality act 2010 9 protected characteristics

Answer 21

• Gender
• Gender reassignment
• Race
• Religion
• Age
• Disability
• Marriage
• Pregnancy
• Sexual orientation

Question 22

Red book VPS 1-5

Answer 22

• VPS 1, terms of engagement
• VPS 2 inspections, investigations, records
• VPS 3 valuation reports
• VPS 4 4 basis of value
• VPS 5 valuation approaches and methods.

Question 23

Bases of value

Answer 23

• Market value
• Market rent
• Investment value
• Fair value

Question 24

5 conventional methods of valuation

Answer 24

• Comparative
• Investment
• Residual
• Profits
• Contractors

Question 25

Term and reversion method

Answer 25

- Used for under rented investments - Capitalise term using initial yields up to next review - Capitalise market rent into perpetuity at a higher yield due to higher risk. - Defer income by the length of term using PV of £1

Question 26

Hardcore layer method

Answer 26

- Used for under rented investments - Capitalise hardcore into perpetuity - Capitalise layer into perpetuity at a higher risk due to higher yield - Defer the layer by term using PV of £1

Question 27

S30 grounds for refusal

Answer 27

- Tenant has failed to carry out repairs - Tenant has persistently paid rent late - Tenant in substantial breach of another covenant - Landlord offers suitable alternative accommodation - Building let as a whole would produce higher rent than separate lettings - Landlord plans to demolish or refurbish - Landlord intends to occupy for own purposes.

Question 28

4 tests from O’May vs City of London (change terms between leases)

Answer 28

- Has the party demanding the change shown good reason - Will the party resisting the change be adequately compensated - With the adjustments impair the conduct of tenant’s business - Is the variation fair and reasonable between parties.

Question 29

How to carry out a rent review

Answer 29

- Receive written instruction from client - Check competence - Check COI - Agree terms of engagement - Request legal pack - Check assumptions and disregards in the lease - Undertake inspection and measurement - Collect comparable and make recommendation to client - Negotiate or go to 3rd party.

Question 30

9 principles in service chares in commercial property 2019

Answer 30

- In accordance with lease - No more than 100% - Issue budget annually - Issue apportionment annually - Issue reconciliation annually - Hold money in discrete bank account - Interest to be credited to service charge - Tenant to only withhold sums in dispute - Error to be rectified without delay

Question 31

How to deal with a licence to alter

Answer 31

- Receive T application in writing - Check lease - Request undertaking from T - Review plans with building surveyor - Obtain landlord consent - Document LTA - Complete final inspection