Mainly for Students: An A-Z of acronyms and initialisms

Right across practice, a plethora of acronyms and initialisms are used as shorthand for a range of processes, objects, products, activities and organisations. No one can be expected to remember them all but this edition of Mainly For Students highlights some of them across the 26 letters of the alphabet. What they mean But what is the difference between an acronym and an initialism? An acronym is an abbreviation pronounced as if it were a word: for example FIFA (pronounced “feefa”) is the acronym adopted worldwide for the Fédération Internationale de Football Association. An initialism is an abbreviation where the constituent letters are pronounced separately – such as the name of this journal, EG, pronounced “ee gee,” not “egg”. Of course, there are some other types of abbreviation too, including des res (short for desirable residence), proptech (property technology) and, of course, Brexit. The last two are each an example of a portmanteau – a single word formed by blending the sounds and meanings of two other words. However, for the purposes of this article, we will concentrate on acronyms and initialisms in the property and construction industry lexicon – one for each letter of the alphabet (almost)! Best practice These are only a small sample of initialisms and acronyms used in the industry. In practice – and especially for some clients, and certainly for members of the public – it is always best to provide the full title/spelling of each initialism or acronym first, followed by the letters of the initialism or acronym in brackets. This is much better than just providing a glossary at the beginning and expecting readers to remember them or have to go fishing back to find out what something stands for. Quiz – test your knowledge This multiple choice test includes some common acronyms and initialisms used in the property and construction world. See how many you can understand and answer (answers at the end): 1. Where does the Royal Institution of Chartered Surveyors (RICS) specify the requirement for regulated firms to have PII? a) Rules of Conduct for Firms b) Ethical standards c) Yellow Book 2. What are the two types of due diligence relating to money laundering? a) SBD and CDP b) CDD and PPP c) CDD and EDD 3. What is the next compliance date for non-domestic properties under MEES? a) 1 April 2020 b) 1 April 2023 c) 1 April 2024 4. All surveyors, unless instructed otherwise, have to measure properties with regard to the… a) CMP b) IPMS for all property types c) RICS Property Measurement (2nd edition) 5. The TCPA has an interest in which of the following? a) Principally the planning of urban areas b) The planning of both rural and urban areas c) The planning and protection of rural areas Quiz answers: 1: a); 2: c); 3: b); 4: b); 5: b). But what do the letters stand for? One acronym is spelled out. As for the rest, it’s time for a little independent web-based learning. Jen Lemen is a partner at Property Elite, which provides support, training and CPD to RICS APC candidates, qualified property professionals and students. Mainly for Students is edited by Paul Collins, a senior lecturer at Nottingham Trent University. He welcomes suggestions for the column and can be contacted at paul.collins@ntu.ac.uk