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Core - Elite APC Commercial Real Estate 2021 > Valuations > Flashcards

Flashcards in Valuations Deck (128)
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1

Level 1 Tell me what are the 5 methods of valuation.

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2

Level 1 Tell me about how you would value a building using the profits/contractors/investment/comparable/residual method of valuation. What is PI Insurance (PII)?

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3

Level 1 Why do surveyors need PII?

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4

Level 1 Tell me about the RICS requirements in relation to PII. What is run off cover?

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5

Level 1 What is the Red Book?

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6

Level 1 Why does the Red Book exist?

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7

Level 1 Tell me about a factor which may impact value.

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8

Level 1 What is your duty of care as a surveyor when undertaking a valuation? Why is independence and objectivity important when valuing?

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9

Level 1 Is there a separate UK Red Book? When was the Red Book last updated? What changes were made?

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10

Level 1 Which sections of the Red Book are mandatory and which are advisory? What does PS1-2/VPS1-5/VPGAs relate to?

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11

Level 1 What type of advice does the Red Book cover?

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12

Level 1 If you provide preliminary advice / draft valuation report, what should you state in writing to your client?

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13

Level 1 What type of valuations might be relied upon by a third party?

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14

Level 1 Tell me what the definition of MR/MV/investment value/fair value? What is the difference between an assumption and a special assumption?

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15

Level 1 What sources of information would you consider when preparing a valuation report? If you have previously valued an asset, do you need to make any additional disclosures and what might they be?

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16

Level 1 If your firm is too small to have a rotation policy or valuation panel, what else can you do to ensure objectivity?

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17

Level 1 When might a conflict of interest exist in relation to a valuation instruction? What must be included in your terms of engagement / valuation report?

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18

Level 1 What is a restricted valuation service and can you provide one? How do you deal with limitations on inspection or analysis?

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19

Level 1 Can you revalue a property without inspecting?

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20

Level 1 What RICS guidance relates to the use of comparable evidence? What is an internal valuer?

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21

Level 1 Can an external valuer provide an internal purposes valuation?

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22

Level 1 What happens if market conditions change between the valuation date and report date?

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23

Level 1 Is special value from a special purchaser reflected in MV? Where does the definition of fair value come from?

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24

Level 1 Does this differ from MV? When is fair value used?

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25

Level 1 What are the 3 approaches under VPS5? What is the Valuer Registration Scheme?

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26

Level 1 Are there any instances where certain sections of the Red Book may not apply?

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27

Level 1 What are these and which sections dont apply?

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28

Level 1 What is the basis of value under UK GAAP FRS 102? What is a SORP?

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29

Level 1 When would you use EUV? What is the definition of EUV?

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30

Level 1 What additional criteria apply to secured lending valuations?

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