ARE Live: Practice Management Mock Exam Review

[@bisoff]

Q5, the architect should "have" the performance bond? I agree they should verify it exists, but should they "have" it? Isn't it a financial risk mitigator between the owner and contractor? I think the better answer is Employee Manual. Not defining what employees are allowed to do opens a door to many risks, like moonlighting affecting the employees quality of work for the firm.

[@emiliamarkovska3244]

The first part of Question 3 implies that the Architect is offering services with higher Standard of Care, meaning the architecture firm will perform services based on higher standard than ordinarily provided by architects practicing in the same or similar locality under the same or similar circumstances. I think this question should be formulated differently.

[@Blackspectacles]

The goal of this question is to understand the difference between marketing material and contractual material. The first part of this question is a marketing pitch. "Beautiful" is neither contractual nor quantifiable. Standard of Care, on the other hand, is a contractual understanding. The question is making sure you understand what Standard of Care is. The first two responses are not contractually binding points. There is no legal understanding of what "finest attention" or "beautiful" is. While D is relevant, C is what all architects are measured against in the profession. Check out this short article from the AIA. It explains why and how architecture came to adopt a Standard of Care. www.aia.org/articles/146491-the-standard-of-care-should-i-care

[@piezoification]

As a witness to and participant in the activity of the firm you like everyone else should understand ethics thoroughly to protect yourself and your firm. It's not all about you owning a firm one day.

[@fernandomingo2398]

Hi guys, regarding 6) I do not share the view that a loan should be part of the financial forms. P&L needs to be setup at the very moment of the foundation of a firm. A cash flow report must be generated the first month of operations too, it will be ready once you want it but definitely must be generated in the beginning. I would call b)Profit Plan instead. Thanks, and keep up the good work.

[@hoodlam1]

this is prior to the business operating and only to determine if the business might be viable therefore there would be no profit or loss beforehand

[@hoodlam1]

never come across an RFS - I respond primarily to RFQs so owners can create a folder of potential firms to select from.

[@marks3440]

Strictly speaking, I don't think that mediation, although a method of dispute resolution, is an adjudicative process. Adjudicative processes rely on an arbiter or judge and are adversarial, mediation does and is not.

[@Blackspectacles]

Hey Mark, you're correct. Adjudication is adversarial in nature while mediation is not. Thanks for catching this!

[@andreiefremoff5079]

thank you for posting this

[@martinboristakammt6125]

Thank you for charing

[@mrhubof]

Question 3 sounds like TRUMP wrote the promo materials. SMH