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APC > Mandatories > Flashcards

Mandatories Flashcards

1
Q

What are the exemptions from EPC’s?

A

Listed buildings
Temporary buildings
Place of worship
Not using much energy e.g. industrial/agricultural
Building due to be demolished
Detached building under 50 sq. m

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2
Q

What does MEES stand for?

A

Minimum Energy Efficiency Standards

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3
Q

What does BREEAM stand for?

A

Building Research Establishment Environmental Assessment Methodology

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4
Q

What does BREEAM assess?

A
  • Management
  • Energy
  • Health and Wellbeing
  • Transport
  • Water
  • Materials
  • Waste
  • Land use
  • Ecology
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5
Q

What are the 4 parts of the Bribery Act 2010?

A
  1. Don’t give bribes
  2. Don’t accept bribes
  3. Don’t bribe public officials
  4. Failure to prevent bribes
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6
Q

What consequences are there for failing to adhere to Bribery Act 2010?

A

Unlimited fine, prison time up to 10 years.

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7
Q

What is included in GIA?

A
  • Areas occupied by internal walls (whether structural or not).
  • Service accommodation (e.g., WCs, showers, changing rooms).
  • Columns, piers, chimney breasts, lift wells, stairwells, etc.
  • Lift rooms, plant rooms, tank rooms (whether or not above roof level).
    Open-sided covered areas (stated separately).
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8
Q

What’s excluded in GIA?

A

Open balconies.
Open fire escapes.
Open-sided covered ways.
Open vehicle parking areas, terraces, and the like.
Minor canopies.
Any area with a ceiling height of less than 1.5 meters (except under stairways).
Areas under the control of service or other external authorities3.

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9
Q

What is GIA?

A

GIA represents the total area of a building, measured to the internal face of the perimeter walls at each floor level

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10
Q

What is NIA?

A

NIA represents the usable area within a building, measured to the internal face of the perimeter walls at each floor level

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11
Q

What’s excluded from NIA?

A

WC’s
Columns
Corridors
Internal structural walls
Cleaner’s cupboards
Plant rooms
Boiler rooms
Stairwells

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12
Q

What is Professional indemnity
insurance (PII)?

A

Insurance to cover the cost of compensating clients for loss or
damage resulting from negligent services or advice provided by
a business or an individual.

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13
Q

What is a liability cap (or
limitation of liability)?

A

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

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14
Q

What constitutes negligence?

A

In the case of a professional, negligence
is a failure to provide services with the standard of skill and
care that would be expected from a reasonable body of the
professional’s peers.

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15
Q

What is a PII limit?

A

A firm’s PII limit is the maximum amount the firm’s PII insurer
will pay in the event of a claim. It is sometimes wrongly
confused with a liability cap.

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16
Q

What is run-off insurance?

A

A form of insurance that can be bought to provide cover for
claims arising after a firm or individual has ceased trading.
Members have a particular need for it because a member’s PII
is provided on a ‘claims made’ basis, meaning that there will
only be insurance cover for a claim if there is a policy in place
when the claim is made – even if the claim is made after the
member (or firm) has ceased practice.

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17
Q

What is the securitisation of loans?

A

A type of commercial finance transaction whereby a primary
lending bank bundles loans, and sells them to investors.

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18
Q

How long can someone claim against someone for breach of contract? Is this the same for a negligence claim?

A

Breach of contract = usually 6 years
Negligence = longer (6 years from the loss suffered as a result of the negligence)

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19
Q

How long does RICS state run-off cover must be in place? How long do they recommend run-off cover for?

A

Minimum of 6 years.
10-15 years recommended.

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20
Q

What does the RICS Practice Information - Risk, Liability and Insurance 2021 entail?

A

PII, run-off cover, breach of contract, negligence (e.g. loan security valuations), limitation on liability/liability caps, third party reliance, terms and conditions

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21
Q

What does the RICS Regulation - Professional Indemnity Insurance Requirements, 2022 outline?

A
  • Minimum levels of indemnity (based on turnover)
  • Maximum levels of uninsured excess (the amount the firm should pay themselves)
  • Be fully retroactive on claims-made basis
  • RICS listed insurer
  • Cover all current and former employees
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22
Q

What are the RICS minimum levels of indemnity?

A

Firm’s turnover in the preceding year = Minimum indemnity limit
£100,000 or less = £250,000
£100,001 to £200,000 = £500,000
£200,001 and above = £1m

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23
Q

What are the limits on maximum uninsured excess?

A

No limits if a firm makes over £10m turnover

If a firm makes less than £10m turnover = the greater of 2.5% of the sum insured, or £10,000

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24
Q

How to undertake profits test of covenant strength?

A

Net profit for business must be 3 times the rent for 3 consecutive years or the net asset value of business must be 5 times the rent

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25
Q

What does GIA include?

A

> Areas occupied by internal walls (whether structural or not) and partitions.
Service accommodation such as WCs, showers, and changing rooms.
Columns, piers, whether free standing or projecting inwards from an external wall, chimney breasts, lift wells, stairwells, and so on.
Lift rooms, plant rooms, tank rooms, fuel stores, whether or not above roof level.
Open-sided covered areas (should be stated separately).

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26
Q

What does GIA exclude?

A

Balconies
Canopies
Perimeter wall thickness
Areas with headroom under 1.5m

27
Q

What is IPMS: All Buildings (2023) and how is it different to NIA and GIA?

A

To internal dominant face.
The following should be measured:
balconies/rooftop terraces, shared circulation areas, internal structural walls, columns, common walls, walkways and areas less than 1.5m in height.
However, these are measured and reported separately as ‘limited use areas’ for information and do not make up the useable floor area used for rent calculation.

IPMS 1 = GEA equivalent
IPMS 2 = GIA equiv.
IPMS 3 = NIA equiv.

28
Q

How much as a percentage do GEA, GIA and NIA differ?

A

GIA = 15% bigger than NIA
GEA = 2% bigger than GIA

29
Q

What are the recommendations of the Bichard Review?

A

Future of the RICS
- Show greater leadership on issues that matter to society e.g. sustainability/climate change
- New simplified governance structure
- Increased focus on diversity and inclusion across profession
- Renewed focus on younger members/MATRICS
- Review governance effectiveness against the RICS charter

30
Q

What must RICS members comply with?

A
  1. Comply with CPD requirements
  2. Co-operate with RICS
  3. Promptly provide info requested by Standards and Regulation Board
31
Q

What are the 3 levels of disciplinary action from the RICS?

A
  1. Action by Head of Regulation
  2. Disciplinary Panel (drawn from the independent Regulatory Tribunal)
  3. Appeal panel
32
Q

How does it work with an RICS investigation?

A

First is a formal investigation by the Head of Regulation at the RICS.
Head of Regulation can initiate one of 4 actions if disciplinary action found to be necessary:
1. Serve Fixed Penalty Notice.
2. Make Regulatory Compliance Order
3. Refer matter to member of Regulatory Tribunal for consideration.
4. Refer matter to Disciplinary Panel.

33
Q

What is a Regulatory Compliance Order?

A

For low level, minor breaches of rules.
Consists of written documents that states terms member must take or desist from within certain time period, and agreement to pay fine.

34
Q

What is Fixed Penalty?

A

Fine or caution

35
Q

Can action by a Disciplinary Panel be appealed?

A

Yes, by Appeal Panel.

36
Q

What does the RICS have as guidance on social media?

A

RICS Regulation - Use of Social Media - guidance for RICS members, 2021

RICS will investigate social media posts that discriminate, bully, threaten, abuse.
Will investigate posts that could put the RICS into reputational disrepute.

37
Q

What cannot be done with fees?

A

Fee cutting, price fixing, collusion, undercutting other firms.
Should be market based and transparent.
In line with Bribery Act 2010 and RICS code of conduct.

38
Q

When may it be appropriate to decline an instruction?

A
  • If not competent.
  • Not sufficient facts on issue.
  • Client won’t undergo AML checks/ sign ToE’s.
  • There is conflict of interest.
  • PII cap cannot be agreed.
  • Client is on UK sanctions list.
39
Q

What must be done before commencing work?

A
  1. Check you’re competent.
  2. No conflicts of interest.
  3. Confirm ToE’s before starting work.
40
Q

How should complaints be handled?

A

Notify PII insurers ASAP as it could lead to a claim for negligence.
CHP should be issued with Terms of Business.
Log it in complaints log.

41
Q

What is the RICS guidance on complaints handling?

A

RICS Guidance Note - Complaints Handling, 2016

42
Q

What RICS guidance is there on handling client money?

A

RICS Professional Standard - Client Money Handling, 2019

43
Q

What does the RICS Professional Standard on client money handling set out?

A

Good practice in areas such as:
1. Holding client money
2. Providing info to clients
3. Receipts of client money
4. Payments from client accounts
5. Accounting records and controls
6. Compliance

44
Q

What does RICS have to protect client money?

A

RICS Clients’ Money Protection Scheme for last resort claims where a firm can’t pay.

45
Q

What is needed to close an RICS firm?

A
  • Inform the RICS of cessation
  • Ensure clients are informed ASAP and handover arrangements made to new firm
  • Return client money
  • Inform insurers and procure run-off cover for minimum 6 years
  • Retain copy of client files and records for minimum 6 years
46
Q

What RICS requirements are there for starting a new firm?

A
  • Inform RICS of new firm with Firm Details Form
  • Appoint Responsible Principal for RICS communications
  • Register with RICS for regulation of the firm
  • Arrange PII and send details to RICS
  • Set up CHP procedures, and a Protection Scheme. Get RICS approval for CHP
  • Set up complaints log
  • Appoint Complaints Handling Officer
  • Use logo kit from RICS
  • Plan for succession if sole practitioner
  • Ensure CPD logged and staff training plan
  • Ensure completion of RICS Annual Return at end of year
47
Q

What STATUTORY requirements are there for setting up a new firm?

A
  • Disclose business name
  • Equality Act 2010 disability compliance
  • Financial services compliance
  • Bribery Act 2010 compliance
  • Appoint Money Laundering Reporting Officer
  • H&S compliance (H&S Act 1974)
  • Asbestos register (Control of Asbestos Regulations 2012)
  • Fire Safety Compliance
    Register for data compliance
    Ensure public liability and employer insurance compliance
  • Inform HMRC for tax compliance
48
Q

What legislation is there around asbestos?

A

Control of Asbestos Regulations 2012

49
Q

What are the 6 principles of the Bribery Act 2010 (outside of the offences)?

A
  1. Proportionality
  2. Top level commitment
  3. Risk assessment
  4. Due diligence
  5. Communication
  6. Monitoring and review
50
Q

What regulation surrounds terrorist financing?

A

Terrorist Financing and Transfer of Funds Regulation 2017

51
Q

What are the penalties for failure to comply with money laundering regulations?

A
  • Max 14 years prison and/or unlimited fine for money laundering
  • Max 5 years prison/unlimited fine for tipping someone off for being under suspicion of money laundering
52
Q

What act relates to fire safety?

A

Fire Risk management Regulatory Reform (Fire Safety) Order 2005
Fire Safety Act 2021

53
Q

What should be done regularly to keep safe from asbestos?

A

Maintain an asbestos register and regularly update it. Priority score to triage remediation.

54
Q

What act regulates offences for asbestos causing harm to people?

What fines are there?

A

Health & Safety (Offences) Act 2008

Maximum of £20k and 12 months imprisonment
Enables higher courts to impose unlimited offences on more serious

55
Q

What is the RICS guidance on asbestos?

A

RICS Guidance Note - Asbestos: Legal Requirements and Best Practice for Property Professionals and Clients, 2021

Best practice for property professionals. Details of common asbestos containing material, how to commission an asbestos survey, suggested asbestos management plan

56
Q

What RICS guidance is there on mediation?

A

RICS Guidance Note in Mediation 2014

57
Q

What act regulates arbitration?

A

Arbitration Act 1996

58
Q

What RICS guidance regulates independent expert determination?

A

RICS Guidance Note on Independent Expert Determination 2016

59
Q

What is part M of the building regulations?

A

Making reasonable adjustments to buildings for disabled people for use and access

60
Q

Name two other parts of the building regulations?

A

Part B - Fire Safety
Part K - Falling, collision and impact

61
Q

What does the Climate Change Act 2008 mean?

A

Requires UK to reach net zero carbon by 2050.

62
Q

What type of spec for different building types?

A

Grade A offices – either steel or concrete frame with supporting columns
Institutional office specification – raised floors, carpeting, ceiling void, suspended ceiling, LG7 lighting, air conditioning, double glazed windows, lifts, WC, kitchen, car parking

63
Q

What common defects are you aware of?

A

Inherent defect = built in defect that could not have been discovered by a reasonably thorough inspection of the property.
Period office / shops = dry/wet rot, roof tile slippage, death watch beetle, damp, structural movement / settlement.
Modern office buildings = damp, water damage from burst pipes or AC units, structural movement and poor mortar joints in brickwork.
Modern industrial buildings = leaks around roof lights, damaged cladding panels, water damage from poor guttering or burst pipes, rusty panels and settlement/cracking in brickwork.

64
Q

What is rising damp and what prevents it?

A

Rising damp is the movement of moisture upward through permeable building materials by capillary action. It is more common in old (pre-1900) buildings than new ones, but rarer than often supposed.

Damp proof courses prevent it. Less common pre-1920’s.

APC (7 decks)

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