Podcast
Questions and Answers
What is the responsibility of the consultant towards the client?
What is the responsibility of the consultant towards the client?
- To guide the client in defining the issues involved in the problem
- To open the mind of the client about the general nature of the client’s problem
- To implement the engagement and render the report in accordance with ethical standards
- To know and understand the client’s business in relation to the subject of consultation (correct)
What is one of the responsibilities of the consultant in guiding the client?
What is one of the responsibilities of the consultant in guiding the client?
- To assist the client implement the decision or alternative action recommended
- To open the mind of the client about the general nature of the client’s problem
- To suggest alternatives and recommend solutions without adequate analysis and study
- To guide the client in defining the issues involved in the problem (correct)
What does the consultant need to do in relation to real estate aspects?
What does the consultant need to do in relation to real estate aspects?
- Open the mind of the client about the general nature of the client’s problem
- Know and understand the client’s business in relation to the subject of consultation
- Render the report in accordance with ethical standards
- Identify relevant real estate aspects and potential involvement of third-party specialists (correct)
What does the consultant need to assist the client with?
What does the consultant need to assist the client with?
What is not a responsibility of the consultant towards the client?
What is not a responsibility of the consultant towards the client?
What does guiding the client involve?
What does guiding the client involve?
What is the primary responsibility of the consultant in terms of obtaining information from the client?
What is the primary responsibility of the consultant in terms of obtaining information from the client?
What should a consultant do if the client has an ulterior motive to use their function subjectively?
What should a consultant do if the client has an ulterior motive to use their function subjectively?
What is essential for the consultant to distinguish between when capturing the client’s immediate problems and long-term goals?
What is essential for the consultant to distinguish between when capturing the client’s immediate problems and long-term goals?
What is a characteristic of long-range goal problems compared to short-term problems?
What is a characteristic of long-range goal problems compared to short-term problems?
What may trigger uncomfortable creditor actions that jeopardize ongoing projects and place in question the client’s long-term goals?
What may trigger uncomfortable creditor actions that jeopardize ongoing projects and place in question the client’s long-term goals?
What distinguishes the consultant’s practice in terms of professional integrity?
What distinguishes the consultant’s practice in terms of professional integrity?
Which factor usually influences fee arrangements acceptable to the client?
Which factor usually influences fee arrangements acceptable to the client?
When does the straight or fixed fee usually apply?
When does the straight or fixed fee usually apply?
What does the modified fixed fee provide for?
What does the modified fixed fee provide for?
What should be considered when determining performance fees?
What should be considered when determining performance fees?
What does a fixed fee arrangement rely on for estimation?
What does a fixed fee arrangement rely on for estimation?
What is a key consideration for a modified fixed fee arrangement?
What is a key consideration for a modified fixed fee arrangement?
What is one of the considerations that the consultant may base his fee on?
What is one of the considerations that the consultant may base his fee on?
Which method of charging is supplemental to a minimum fee and is not related to a commission payment?
Which method of charging is supplemental to a minimum fee and is not related to a commission payment?
What must the consultant never do in relation to the engagement fee?
What must the consultant never do in relation to the engagement fee?
What factor should NOT influence the amount of the consultant's fee?
What factor should NOT influence the amount of the consultant's fee?
Which type of arrangement allows the consultant to work on a time and expense basis, sometimes with a retainer fee?
Which type of arrangement allows the consultant to work on a time and expense basis, sometimes with a retainer fee?
Which of the following is NOT a factor that may influence the amount of the consultant's fee?
Which of the following is NOT a factor that may influence the amount of the consultant's fee?
What does the performance fee bear no relation to, especially in a sale or financing transaction?
What does the performance fee bear no relation to, especially in a sale or financing transaction?
What is an example of a possible consideration for determining the consultant's fee?
What is an example of a possible consideration for determining the consultant's fee?
What should the consultant never do with his fee?
What should the consultant never do with his fee?
Which type of fee does not need further authority from the client if it does not exceed an estimated maximum?
Which type of fee does not need further authority from the client if it does not exceed an estimated maximum?