9 - Ethics, Rules of Conduct and Professionalism Flashcards

Question

How do ethics link with conduct rules?

Answer 1

Rules of conduct are a detailed description of how we are expected to carry ourselves and how to set the highest possible level of standard.

Answer 2

Using the decision tree: • Do I have sufficient facts? • Is the matter legal? • Is it in line with RICS Professional and Ethical Standards? • Have I consulted with appropriate people? • Do I have clear reasoning in reaching my decision? • Would I be content for my actions to be made public? If answered no to any of the above, I would not proceed with the situation alone and would consult senior staff with direction on how to proceed.

Answer 3

• Prevents any issues with consistent behaviour • Sets a standard of expertise and professionalism • Promotes trust in the company and industry

Answer 4

• Qualified/MRICS member – 20 hrs per year, min 10 hours formal • Student member – 48 hrs per year (Min 24 formal)

Answer 5

Formal has a learning objectives and a defined learning outcome, i could reference the CPD decision tree for further guidance.

Answer 6

My CPD plan is dictated by my skills and or knowledge gap considering future requirements and sectors etc. This is review bi annually to confirm i am getting suitable and appropriate CPD to my role.

Answer 7

A procedure to allow and define the procedure for clients to raise a complaints. This may include ADR and relevant timescales for the process.

Answer 8

The procedure must include an Alternative dispute mechanism approved by the standard and regulation board. The procedure can be based on the RICS forms. Issued with terms of engagement, nominated person also details investigated within 28 days, record the complaints, advise PI insurers of complaint etc.

Answer 9

• A firm must have a CHP and maintain a complaints log • If there is a complaint, it must be addressed to the Complaints Handling Officer and handled within 28 days of receipt. If the complaint cannot be resolved, it can be referred to an independent 3rd party • You can be your own Complaints Handling Officer as a sole practitioner but most refer it to a 3rd party

Answer 10

• A form to fill out • Redress mechanism • Details should be issued to clients with the terms of business • Clear, quick, transparent and impartial and free of charge • Names and contact details of nominated investigating person must be stated • Complaint must be investigated within 28 days • All complaints and progress and outcomes must be recorded • Advise PI insurers of a complaint • Two stages: 1 – consideration, 2 – referral to third party

Answer 11

• Property Ombudsman • RICS Dispute Resolution • Escalation etc

Answer 12

Independent government approved body who provides redress to consumers whose complaints are considered on a case by case basis. They are not regulators and have no authority to take legal action or dictate action.

Answer 13

• Professional indemnity insurance requirements • Regulation Document • Version 9 with effect from 1 April 2022

Answer 14

• £250,000. This is dependent on predicted turnover based on the previous year’s turnover • The RICS defines 3 levels of cover: o up to £100,000 = £250,000 o £100,001 - £200,000 = £500,000 o £200,001 + = £1,000,000 of cover

Answer 15

15 years (Limitations Act)

Answer 16

Run off cover

Answer 17

• PII insurance - Professional indemnity insurance covers financial loss, personal injury and property damage resulting from your negligent act or error while you're working for a client. • PLI insurance - Public liability insurance is there to protect you if a member of the public is injured (or their property is damaged) and your business is faced with a compensation claim as a result. It can cover you when you're working at client sites or in public. • Employers Liability Insurance - Employers' liability insurance covers you and your business for compensation costs if an employee becomes ill or injured as a result of the work they do for you. It's legally required of all businesses with one or more employees. • Building Insurance (if you own your own premises)

Answer 18

Consultants provide expert advice and therefore face risks associated with making mistakes or errors in judgement that could cost a business in profits. When profits are lost due to any negligence or perceived negligence businesses often respond with lawsuits. It also protects the client, surveyor and firm.

Answer 19

Minimum levels of indemnity cover • up to £100,000 = £250,000 • £100,001 - £200,000 = £500,000 • £200,001 + = £1,000,000 of cover Run off cover • Run off cover must also be held for a minimum of 6 years for a limit of £1million. Maximum uninsured excess • Up to and including £500,00 = the greater of 2.5% of the sum insured, or £10,000 • Over £500,000 = 2.5% of the sum insured

Answer 20

Make numerous attempts to contact the owner to detail what has happened along with an sincere apology. If not available I would leave a note, take pictures etc. I would escalate this to the management team. This may prompt a claim under professional or public indemnity insurance.

Answer 21

A regulation document

Answer 22

Run off cover • Run off cover must also be held for a minimum of 6 years for a limit of £1million.

Answer 23

£500,000 cover

Answer 24

Clients from financial loss, the firms form loss resulting in being able to continue trading and the surveyor.

Answer 25

RICS details a minimum of 6 years with £1 million per claim of cover.

Answer 26

• This is one of the two types of cover/policy • Each and every is cover for each claim that does not add up, the opposite is aggregates, where the claims and added up to a certain agreed value. • You could have each and very claim up to £100,000 per claim or you could have £100,00 aggregate(which is a lot lower cover)

Answer 27

• Fire safety cover - Since 2020, insurers have imposed a blanket fire safety exclusion on PII terms provided due to concern following high profile fire safety failures, meaning chartered surveying firms have increasingly been left uninsured for fire safety exposure on all aspects of their business. • Under the new terms, insurers are not permitted without specific dispensation to exclude fire safety claims on a property four storeys or less and fire safety coverage must be provided as a minimum on an aggregate, defence cost inclusive basis.This aspect of the changes will come into effect on 1 May 2021. • Cyber cover - There is a new regulatory requirement for insurers to clarify the cyber cover provided in PII policies. The changes do not restrict the cover provided in PII policies, but clarifies existing requirements on insurers from their regulator the Prudential Regulatory Authority. • Approved Insurers -A new insurer has joined the list of RICS Approved Insurers, providing a greater competition and increasing the availability of cover.

Answer 28

• Keep full and detailed records of meetings, conversations etc • Record recommendations and advice given • Use proper letters of engagement, scope of services and terms of engagement • Don’t advise on a specialism outside your field of experience • Use RICS guidelines • Avoid poor management and excessive workloads

Answer 29

The professional / firm is liable for the difference – in assets etc

Answer 30

PII is Professional Indemnity Insurance - This is in place to protect the client, surveyor and profession in the event of financial loss as a results of neglect, error or omission.

Answer 31

On a claims made basis

Answer 32

When the insurance policy covers when the claim is made not from the work was caried out

Answer 33

Promotes the need for run off cover so this could not continue.

Answer 34

Contract under hand = 6 years, a deed - 12 years, 15 years under the limitations act

Answer 35

'Run off' insurance is professional indemnity insurance which covers the historic liabilities of a business and its directors when the business ceases or is acquired.

Answer 36

• Keep full and detailed records of meetings, conversations etc • Record recommendations and advice given • Use proper letters of engagement, scope of services and terms of engagement • Don’t advise on a specialism outside your field of experience • Use RICS guidelines • Avoid poor management and excessive workloads

Answer 37

PII is Professional Indemnity Insurance - This is in place to protect the client, surveying and profession in the event of financial loss as a results of neglect, error or omission.

Answer 38

Protected from financial loss, improve trust in the profession,

Answer 39

On a claims made basis

Answer 40

• PII insurance - Professional indemnity insurance covers financial loss, personal injury and property damage resulting from your negligent act or error while you're working for a client. • PLI insurance - Public liability insurance is there to protect you if a member of the public is injured (or their property is damaged) and your business is faced with a compensation claim as a result. It can cover you when you're working at client sites or in public. • Employers Liability Insurance - Employers' liability insurance covers you and your business for compensation costs if an employee becomes ill or injured as a result of the work they do for you. It's legally required of all businesses with one or more employees. • Building Insurance (if you own your own premises)

Answer 41

• Insurance should be on an each and every claim basis rather than aggregated so that you have sufficient protection regardless of how many claims have been made against you • It is the policy in place at the time of the claim that is relevant, not the policy in place when the negligent work was carried out. • Policy should be on a claims made basis

Answer 42

• Must be on a claims made basis • Must be on an each and every claim basis • Policy wording is written on a full civil liability basis • Underwritten by a listed insurer • Covers past and present employees • Run-off cover • Minimum level of indemnity required by the RICS

Answer 43

A 'claims made' basis covers claims that are made and reported during the policy period only and not once the policy period is over.

Answer 44

The limit of indemnity covers each claim individually (instead of a accumulatively for that year, which is referred to as 'in the aggregate')

Answer 45

A full civil liability basis means if a claim isn't specifically excluded, it's included (as opposed to a 'negligence only' policy, where if a claim is not specifically included, it's excluded)

Answer 46

Run-off cover ensures firms, members and customers are not exposed to financial detriment in the period following a firm ceasing to trade or a member's retirement

Answer 47

Should be for a minimum of 6 or 12 years, depending on how the contract was executed, however negligence claims can be made up to 15 years after work was undertaken - advice from an insurance broker should be sought as to whether to maintain for the full 15 years

Answer 48

Minimum level of indemnity is based on the firm's turnover in the previous year (or estimated within a business plan for a new firm)

Answer 49

The RICS defines 3 levels of cover: o up to £100,000 = £250,000 o £100,001 - £200,000 = £500,000 o £200,001 + = £1,000,000 of cover

Answer 50

The part of each claim the firm must pay itself

Answer 51

Must notify insurer in the event of: 1. An actual claim 2. A written or verbal threat of a claim 3. Any circumstance that the firm has reason to believe may result in a claim 4. Any complaint notified via the firm's CHP

Answer 52

Should have public liability insurance to cover cost of repair to car.

Answer 53

In relation to bribery and corruption RICS-regulated firms must: • not offer or accept, directly or indirectly, anything that could constitute a bribe • have plans in place to comply with applicable laws governing bribery and corruption, and ensure that these are followed • report any activity they are aware of that breaches anti-bribery and corruption laws to the relevant authorities (as specified in local legislation); where there is no local legislation the activity should be recorded and, if possible, reported to a senior manager • act with due diligence to perform periodic written evaluations of the risks that face the firm and that may lead to the facilitation of bribery or corruption; in determining Countering bribery, corruption, money laundering and terrorist financing 6 RICS professional statement Effective from 1 September 2019 the appropriate level of due diligence, the firm may consider the type of business activities they engage in and the environment in which they operate • retain information detailing how the firm has met the requirements of this professional statement. In relation to bribery and corruption RICS members must: • not offer or accept, directly or indirectly, anything that could constitute a bribe • ensure that they have adequate knowledge of bribery and corruption to be able to comply with the requirements of this professional statement • report any activity they are aware of that breaches applicable anti-bribery and corruption laws to the relevant authorities (as specified in local legislation); where there is no local legislation the activity should be recorded and, if possible, reported to a senior manager.

Answer 54

• Cash-only buyers • An unusual sale price (too low or too high) • Payments from multiple/different source to counterparty • Funds provided by unknown third parties

Answer 55

My company has a policy relevant to this, I would always air on the side of caution. For example as a business do not accept cash or cheque payments. Any red flag would be raised suitably.

Answer 56

Concealing the source of proceeds of criminal activity to disguise their illegal origin. This may take place through hiding, transferring and or recycling illicit money or other currency through one or more transactions, or converting criminal proceeds into seeming legitimate property.

Answer 57

I would politely decline as under RICS guidance, one should not facilitate or complicit any money laundering acts. Should I be concerned if there is money laundering then this should be reported to local legislation. Under the Money Laundering Act 2007 (updated 2017), under HMRC guidance, which advise that necessary due-diligence should be completed to ensure the money is clean. HMRC advise that these checks should be done if these transactions are occasional and of a value of €10k and you are not registered high value dealers. A high value dealer is a firm who has registered with the HMRC as they receive regular high value payments of €10k or more in cash for goods. Companies such as jewellers or car dealers. Such due-diligence checks include; checking who they say they are, financial statements, where the money came from.

Answer 58

I would advise that the money needs to be put into the bank and proof of where the money was obtained will also need to be shown to their bank as banks can become suspicious of irregular payments of large amounts.

Answer 59

Money laundering through real estate transactions integrates black funds into the legal economy while providing a safe investment. It allows criminals to enjoy assets and derived funds having camouflaged the origin of the money used for payment.

Answer 60

• National crime agency(NCA) • HMRC • The Police

Answer 61

No it is your responsibility to ensure the checks are suitable and sufficient.

Answer 62

the process of alerting the suspect party of a potential forthcoming investigation following the reporting of a potential red flag.

Answer 63

We report cash payments over £10K. Carry out risk assessments to make sure that we take the necessary procedures when working with clients from high risk countries or high risk sectors.

Answer 64

Sets additional obligations for private sector firms working in areas of high money launder risk. Aims to stop criminals using professional services to launder money and to investigate large or regular cash transactions. You have a duty to report cash payments over £10K. Carry out risk assessments to make sure that you take the necessary procedures when working with clients from high risk countries or high risk sectors.

Answer 65

Log in within the gift log, I may decline the gift taking into account timings and proportionality and my companies gift handling policy.

Answer 66

I would take into account the proportionality and timings. If I did It would be logged in our gifts handling record.

Answer 67

Consider the proportion and circumstances of the gift, including the timings. In some cases this maybe include being aware of cultural differences.

Answer 68

Once al the works are complete on site and the final account agreed and there is no conflict of interest. also consider the scale, time and suitability of the hospitality and or gift.

Answer 69

A gift is a small gesture, a bribe is under the impression that some gain will result.

Answer 70

Consider the timing and proportionality. Could always check this against the guide in the Bribery Act 2010. Ensuring it does not influence decisions, should not be regular, should be openly received, keep a gift of the items received.

Answer 71

I would question the intentions firstly. If I felt like it was a genuine business reason, I would accept but offer to pay for myself and log the meeting in the companies gift register if they end up paying.

Answer 72

Merrett v Babb Hart v Large

Answer 73

• Considered if a professional employee was vulnerable to claims brought directly against them for advice given on behalf of their employers. • Essentially, an individual provided valuation advice and was negligent. The firm the person worked for did not have adequate run off insurance, the company shut down and the client made a claim which was passed to the employee that gave the advice.

Answer 74

The Claimants brought claims in negligence against the architects instructed by the previous owners, the Claimants’ conveyancing solicitors and Mr Large. The claims against both the architect and the solicitors settled prior to trial. Against Mr Large, the Claimants alleged that he was negligent in: (1) failing to recommend a full building survey, rather than HomeBuyer report; (2) failing to draw attention to the issues of water ingress / damp in the HomeBuyer report; and (3) failing to recommend that the Claimants obtain a professional consultant’s certificate. The key take-aways from this case: • Being clear on the report about the scope of inspection including limitations, caveats and actions available to the client; • Recommending justifiable further investigation; • Taking all reasonable steps to ensure clients understand the differences between the levels of service, including the extent and limitations of each option

Answer 75

Our mission is • To be recognised in key worldwide markets as the leading body that sets and enforces standards • Offers access to the most sought after professional status in land, property and construction.

Answer 76

15th June 1868,

Answer 77

Royal Institution of Chartered Surveyors

Answer 78

• Maintain the highest standards of training and professional experience • Protect customers and consumers through a strict code of ethics • Provide impartial advice, analysis and guidance • Regulate and promote the profession

Answer 79

• Globally recognised professional institution • Highly regarded reputation which I want to be a part of • Professional status within my profession • Lifelong learning/CPD

Answer 80

PACTT • Proportionality • Accountability • Consistency • Targeting • Transparency

Answer 81

• Maintain the highest standards of training and professional experience • Protect customers and consumers through a strict code of ethics • Provide impartial advice, analysis and guidance • Regulate and promote the profession

Answer 82

• Governing Council • Regulatory Board • Management Board • Executive Team • President Team

Answer 83

First meeting 1972, by 1868 had expended to 48 members

Answer 84

RICS has 140,000 members who operate out of 146 countries

Answer 85

• Privy council • Governing council • Standard and regulation board (overseeing he standard and upholding them), management board (inform and oversee RICS affairs via the strategy), audit committee (monitor the effectiveness,

Answer 86

Clement Lau 2021/2022

Answer 87

Est modus in rebes - there is measure in all things

Answer 88

• This is the gold standard in my profession • Offers guidance and support from RICS • Designation will help my career • I am committed to lifelong learning

Answer 89

He is determined to extend the reach and influence of RICS’ thought-leadership and to drive the organisation’s digital capability during his term

Answer 90

1881 by Queen Victoria

Answer 91

The Equality Act 2010, which came into force 1st October 2010

Answer 92

• Race & Ethnicity • Disability • Religion or belief • Age • Sexual orientation • Gender • Gender reassignment • Pregnancy & maternity • Marriage & civil partnership

Answer 93

Within and outside of work

Answer 94

1) Proportionality • Are the procedures proportionate to the bribery risk and the nature of the firms activities? • Are the procedure clear, practical, effectively implemented? • Are anti-bribery procedures in place for different payments? Hospitality, donations etc. 2) Commitment (Top Level) • Issue a statement to staff/partners that communicate the polices • Zero tolerance • Select and train a senior employee to take responsibility for procedures and policy. • Issue internal and external publications 3) Risk Assessment • Procedures to assess the nature and extent to exposure for potential bribery. • Accurately identify and prioritise risks a firm may face • Written record of risk assessments and findings • Internal risks – bonus culture, lack of bribery messages from top management • External risks – Country (is the country particularly known for bribery) or Sectoral 4) Communication • Embed an understanding of procedures and zero tolerance with internal and external communications • Training should be continuous • Whistle blowing policy established 5) Due Diligence • Firms should carry out due diligence on their staff and partners • Credit checks, internet checks, interviews etc • Should get a clear statement of the nature of services offered 6) Monitoring and Reviewing • Periodically review anti-bribery policies and assess effectiveness. • Use bribery risk assessment to make decisions • Review process in response to external or internal stimuli • Review financial control mechanisms

Answer 95

Professional Statement (Mandatory) - Countering bribery and corruption, money laundering ad terrorist financing, 1st edition, February 2019

Answer 96

My company has a policy relevant to this, I would always air on the side of caution. For example as a business do not accept cash or cheque payments.

Answer 97

The offer, promise, giving, demanding to acceptance of an advantage as an inducement for an action that is illegal, unethical or a breach of trust. EVIC - Exchange of value for an improper cause

Answer 98

The bribery Act 2010 details the 4 offences as : • giving a bribe • receiving a bribe • bribery an official • no procedure in place

Answer 99

The misuse of public office or power for private gain, or misuse of private power in relation to business practice and performance

Answer 100

The bribery Act 2010 details the 4 offences as : • giving a bribe • receiving a bribe • bribery an official • no procedure in place

Answer 101

Suitable procedure in place, training,

Answer 102

Consider timings, reasonable, cultural differences,

Answer 103

A facilitation payment is a type of bribe and should be seen as such. A common example is where a government official is given money or goods to perform (or speed up the performance of) an existing duty. Facilitation payments were illegal before the Bribery Act came into force and they are illegal under the Bribery Act, regardless of their size or frequency.

Answer 104

A bribe is expecting an offer of unfair advantage to something, you must consider the proportionality and timing of the offer.

Answer 105

Bribery warning signs include : • Be aware of high risk areas for bribery and corruption. Even the suspicion of impropriety could be very damaging to the firm's reputation and your reputation. Always check the policy and if in doubt, ask • Lavish gifts or hospitality being given or received • Unexplained preferment of certain individuals for receipt of benefits, especially when outside of normal selection and control procedures, such as secondments, training contracts, employment, placements and internships • Individual never takes time off even if they are ill, for holidays, or insists on dealing with specific contractors themselves • Making unexpected, uncommercial or illogical decisions when accepting projects or contracts • Raising barriers around specific roles or departments which are key in the tendering or contracting process • Unusually smooth process of cases where individual does not have the expected level of knowledge or expertise • Abusing decision-making processes or delegated powers in specific cases • Agreeing contracts not favourable to the organisation either with regard to terms or time period • Unexplained preference for certain contractors during the tendering period • Avoidance of independent checks on tendering or contracting processes • Bypassing normal tendering or the contractor's procedure • Invoices being agreed in excess of the contract without reasonable cause or explanation • Missing documents or records regarding meetings or decisions • Firm procedures or guidelines not being followed • The payment of, or making funds available for, high value expenses (e.g. school fees) on behalf of others • Requesting or making donations to charitable or political causes connected to key individuals or companies that business is being done with • Abnormally high commission percentage being paid to a particular agency. This may be split into multiple accounts for the same agent often in different jurisdictions • Private meetings with public contractors or companies hoping to tender for contracts • Abnormal cash payments • Pressure exerted for payments to be made urgently or ahead of schedule • Payments being made through a third party country, i.e. goods or services supplied to country A, but payment to be made usually to shell company in country B

Answer 106

National crime agency, HMRC, The Police , crown prosecution service.

Answer 107

RICS counter bribery, corruption, money laundering and terrorist financing. 1st Edition - February 2019

Answer 108

RICS Professional statement - Mandatory requirements for RICS regulated members and firms.

Answer 109

Politically exposed person

Answer 110

The Bribery Act 2010, this came into affect on 1st July 2011

Answer 111

Safe investment, good return on investment, fixed abode for further activates, good reputation

Answer 112

• Checked the cost of the gift • Check if it was given to just me or the company and at an appropriate time? • Is it reasonable? • Is it a bona fide expenditure?

Answer 113

International Ethics Standards Coalition

Answer 114

An anchor to appropriate behavior, Consistency and clarity

Answer 115

To veomce a key factor in market certainty and transparency, it believes in creating one shared standard

Answer 116

60% of global wealth is in land and real estate and 50% of property transactions are international

Answer 117

The purpose of the international ethics standard coalition of professional organisations in construction/property is to assert and sustain the critical role of ethics in professional practice to meet the needs of the global market and maintain public trust. 1. Accountability 2. Confidentiality 3. Conflict of Interest 4. Financial Responsibility 5. Integrity 6. Lawfulness 7. Reflection 8. Standard of Service 9. Transparency 10. Trust

Answer 118

Offer professional services in surveying disciplines to professional, corporate, institutional and other clients who rely on such services. Have at least 25% principals (a senior manager, partner or owner), who are qualified RICS professionals (MRICS, FRICS, AssocRICS). Agree to observe and comply with RICS Rules for members and firms, including working to RICS standards.

Answer 119

Avoid conflicts of interest, ensure competence, procedures for CPD, complaints handling procedure, suitable indemnity insurance, use of suitable designation, cooperate with RICS.

Answer 120

The designated person to liaise between company and the RICS. In my company this is ????

Answer 121

• Inform RICS • Appoint a contact officer • Register with RICS for Regulation • Arrange suitable insurance (PI, PII, specific item insurance etc) • Set up client business account for client money • Complaints handling procedure • CPD training

Answer 122

‘A Firm is required to register for regulation by RICS if: a. the Firm provides surveying services to the public. the Firm is operating in Regulated Area A (UK);c. at least 50% of the Firm’s Principals are RICS Members. 'New requirement from April 2020 that 25% of principals must be RICS-qualified members.FRICS,MRICS< AsRICS

Answer 123

If 25% of the principles are members, then it is voluntary to become regulated.

Answer 124

It allows you to use RICS designation and logo’s on marketing material to show that you offer the highest level of service and given the RICS reputation and access to clients, this would be beneficial to the company.

Answer 125

• Use of a locum who can complete any outstanding works and arrange for adequate run-off cover • Third party named for Complaints Handling

Answer 126

RICS Regulated firms and members.

Answer 127

An example of this would be where you may be asked to undertake work on behalf of a contractor but another part of the business is already working for the client on the same project. In these circumstances you would need to explain the situation to your prospective client and then politely decline the opportunity. Try and relate your answer to your working experience gained to date – you may already have experienced such a situation which you could talk about.

Answer 128

We have a system that checks appointments based on information such as address, name and partied involved, in addition to verbal conversations between the surveyors.

Answer 129

• Conflict avoidance is a person's method of reacting to conflict, which attempts to avoid directly confronting the issue at hand • Conflict management is the process of limiting the negative aspects of conflict while increasing the positive aspects of conflict. The aim of conflict management is to enhance learning and group outcomes, including effectiveness or performance in an organizational setting

Answer 130

A conflict of interest occurs when an individual's personal interests – family, friendships, financial, or social factors – could compromise his or her judgment, decisions, or actions in the workplace

Answer 131

• Restricted access to files • Clear desk policy • Private meeting rooms • Physical barriers e.g. restricted floor access

Answer 132

• Check their understanding of reduced impartiality • Seek letter of instruction to continue • Agree working procedures to manage the conflict • Keep them updated of any risks • Seek informed consent

Answer 133

1. Application and definition 2. Membership and Registration 3. Designations 4. Contributions to funds 5. Conduct 6. Governing Council, officers and staff 7. Subordinate Boards, committees and groups 8. Procedure for general meetings 9. Accounts and audit 10. General

Answer 134

• Fixed Penalties • Regulatory Compliance Orders • Regulatory Sanctions, which may be imposed by a Disciplinary or Appeal Panel (the ‘Panels’) or a Single Member of the Regulatory Tribunal

Answer 135

• Fixed Penalties • Regulatory Compliance Orders • Regulatory Sanctions, which may be imposed by a Disciplinary or Appeal Panel (the ‘Panels’) or a Single Member of the Regulatory Tribunal

Answer 136

Any firm where 50% of its partners and directors are RICS members must be regulated. a firm of less than 50% may still register if they wish. If there are no RICS members the firm cannot be registered.

Answer 137

To provide a framework for all members to work towards resulting I clients having trust in the profession, helps to guide the institution members

Answer 138

An agreement between rics and member that they are liable for a disciplinary action could be from falling Shotr of standards such as CPD

Answer 139

Administrative fine issued by RICS when a member fails to provide the information requested, remains upon members record for a defined period

Answer 140

STIRR • High level of service - Providing the best advice, support and performance • Trust - Actin professionally in both private and professional settings • Integrity - Make sure mi honest open and transparent in all my dealing, looig to avoid conflict of interest • Respect - Having courtesy, polite and being aware of cultural difference • Responsibility - Being accountable for my actions

Answer 141

To provide a framework for all members to work towards resulting I clients having trust in the profession, helps to guide the institution members

Answer 142

In consultation, Identified failings within current standard, new ethical standards to be released , We propose a simplified structure of five rules that will bring all ethical standards into one, single document. The new rules also introduce new example behaviors expected of RICS professionals globally, including behaviors that embed sustainability and respect. The rules have now been released and adopted. Please see additional questions regarding the 'New Rules'

Answer 143

• A simpler structure. We are making it easier for RICS members and firms to understand our rules, providing more confidence for clients and the public. • Clear examples. We want to support members’ professional judgement, so each Rule is illustrated with examples of how members and firms can behave to comply with the Rule. There are also 12 case studies showing real-life application of the Rules. • Focusing on respect, diversity and inclusion. Whether it’s encouraging diversity and inclusion, or tackling modern slavery, respect and courtesy underpin all our professional ethics. • Understanding evolving technology. The Rules highlight the importance of understanding the evolving use of data and technology, and the associated benefits and risks. • Tackling global challenges. The Rules show that ethical practice by RICS members and firms has an important role when it comes to global challenges, including creating sustainable development and tackling climate change.

Answer 144

Rule 1 – Members and firms must be honest, act with integrity and comply with their professional obligations, including obligations to RICS. Rule 2 – Members and firms must maintain their professional competence and ensure that services are provided by competent individuals who have the necessary expertise. Rule 3 – Members and firms must provide good-quality and diligent service. Rule 4 – Members and firms must treat others with respect and encourage diversity and inclusion. Rule 5 - Members and firms must act in the public interest, take responsibility for their actions and act to prevent harm and maintain public confidence in the profession.

Answer 145

No, however I am aware that my firm operates a Client Money Handling procedure. And the RICS have numerous guidance documents etc.

Answer 146

• Separate bank account • Client have access to money on demand • Accurate records must be kept. Agree interest with client • Use only in agreed draw down amounts • Check where it comes from – not money laundering • Can implement RICS Client Money Protection Scheme (£50k recoverable)

Answer 147

Money collection from service charge, money collect from ground rent, money collected from rent.

Answer 148

Money collected for an agreed fee

Answer 149

• Separate bank account • Client have access to money on demand • Accurate records must be kept. Agree interest with client • Use only in agreed draw down amounts • Check where it comes from – not money laundering • Can implement RICS Client Money Protection Scheme (£50k recoverable)

Answer 150

Rent – either collected for or to be paid on behalf of client, Client money to be paid to contractor, service charges, Interest on client account moneys

Answer 151

Allows firms to offer their clients the security of knowing their money is protected

Answer 152

To keep client Money safe, To ensure client money is only used for appropriate purposes, To ensure RICS regulated firms have appropriate controls and procedures in place to safeguard client money

Answer 153

• Clients have access • Clients in the account name • Separate and clearly identifiable • interest agreed by the clients • Maintain a log of transactions • Agree the terms • Never allow account to be overdrawn

Answer 154

I can accept the money if I was sure that it did not facilitate money laundering and I would need to comply with the RICS professional statement for handling clients money. I would inform the client that the money would not be protected by the RICS client money protection scheme which doesn’t cover payment of services in advance.

Answer 155

If you hold clients money, you must join the protection scheme as part of the rules of registration.

Answer 156

It is a separate holding account controlled by an independent third party that releases the payment subject to agreement from both parties consenting.

Answer 157

Proportional - this is the measures implanted are suitable to the size of the business and the nature of its employees.

Answer 158

PACTT • Proportionality - Making penalties proportional to the breach • Accountability - To all members and the public • Consistency - Treating all members the same, fair and level playing field • Targeting - focus on any problems and not a scatter gun approach, Serious breaches • Transparency - To all member, clients and the public, including those how have been fined use dot be published in the rear of modus now on the RICS website. linked to the communication

Answer 159

STIRR • High standard of Service • Act in a way that promotes Trust in the profession • Act with Integrity • Treat others with respect • Take responsibility

Answer 160

STIRR • High standard of Service • Act in a way that promotes Trust in the profession • Act with Integrity • Treat others with respect • Take responsibility

Answer 161

I always ensure that I act with integrity, especially when dealing with clients, during my measured survey and design options of a property in location XI had to manage the clients expectations regarding the scope and suitable of the project taking into account budget constraints. It was vital to be honest and transparent at an earl stage to avoid disappointment form the client.

Answer 162

• Clients have access • Clients in the account name • Separate and clearly identifiable • interest agreed by the clients • Maintain a log of transactions • Agree the terms • Never allow account to be overdrawn

Answer 163

• The RICS is a self regulated professional body that has a duty to the public interest.• • The 5 Principles of better regulation set out how the RICS regulates itself internally to maintain the highest standards of professionalism and integrity in the benefit of the public interest

Answer 164

• Proportionality meaning RICS should only intervene when necessary and any remedies imposed should be proportionate. For example late payment of RICS fees by a member may be dealt with by a verbal warning whereas continued failure to pay fees would result in expulsion. • Accountability regulators must be able to justify their actions under public scrutiny to promote complete fairness Clearly explain why decisions have been taken • Consistency complete fair and level playing field treat everybody the same Targeting Focused on the problem and minimize side effects from a scattergun approach, also be unambiguous on any regulations that are introduced • Transparent keep regulations simply and user friendly, to be effectively communicated assist back in line with regulation rather than a heavy handed approach

Answer 165

• Proportionality – Regulators should only intervene when needed. Solutions must be proportionate to the problem. Help those that break the regulations to get back into line rather than heavy handed approach. • Accountability – Regulators should have clear lines of accountability to ministers, Parliaments and Assemblies and the Public. • Consistency – Regulators must adopt a common-sense approach and that rules and standards must be joined up and implemented fairly. Regulators should be consistent with each other. • Targeting – Regulators should be focused on the problem and minimize side effects and that regulations should focus on the problem and avoid a scattergun approach. Should adopt a goals-based approach. • Transparency – Regulators should be open and keep regulations simple and user-friendly. Policy objectives should be clearly defined and well communicated.

Answer 166

In relation to money laundering and terrorist financing RICS-regulated firms must: • not facilitate or be complicit in money laundering or terrorist financing activities • have systems and training in place to comply with these laws, and ensure these are followed • report any suspicions of money laundering or terrorist financing activities to the relevant authorities (as specified in local legislation); where there is no local legislation the activity should be recorded and, if possible, reported to a senior manager • evaluate and review periodically the risks that prospective and existing business relationships present in terms of money laundering or terrorist financing offences taking place • ensure that their responses to the risks identified are appropriate, including conducting appropriate checks on clients and customers • use reliance only where there is an appropriate level of confidence in the quality of the information provided by the third party – reliance should only be taken from third parties with standards conforming to the legal requirements, that provide the obliged market participant with a complete exchange of all legally required AML information regarding the identified party and only by confirming the identity and verification of identity of the client or counterparty in question; ultimate responsibility for the assessment of risk and actions taken based on this remain with the member or regulated firm • take appropriate measures to understand the client and the purpose of the transaction • verify the identity of their client by undertaking basic identity checks • record and retain information detailing how the firm has met the requirements of this professional statement. In relation to money laundering and terrorist financing RICS members must: • not facilitate or be complicit in money laundering or terrorist financing activities • report any suspicions of money laundering or terrorist financing activities to the relevant authorities (as specified in local legislation); where there is no local legislation the activity should be recorded and, if possible, reported to a senior manager.

Answer 167

My company use the property ombudsman, as this is suited to our type of instruction and business.

Answer 168

Candidate specific. Answer should include : • Ref to the RICS Guidance Note ‘Complaints handling’ 1st edition July 2016 • Timescale • Two stage • Escalation • Initial response • Third party redress

Answer 169

• Rule 1 - Members and firms must be honest, act with integrity and comply with their professional obligations, including obligations to RICS. • Rule 2 - Members and firms must maintain their professional competence and ensure that services are provided by competent individuals who have the necessary expertise. • Rule 3 - Members and firms must provide good-quality and diligent service. • Rule 4 - Members and firms must treat others with respect and encourage diversity and inclusion. • Rule 5 - Members and firms must act in the public interest, take responsibility for their actions and act to prevent harm and maintain public confidence in the profession.

Answer 170

• 1.1 Members and firms do not mislead others by their actions or omissions, or by being complicit in the actions or omissions of others. • 1.2 Members and firms do not allow themselves to be influenced improperly by others (as a result of, for example, giving or receiving work referrals, gifts, hospitality or payments) or by their own selfinterest. • 1.3 Members and firms identify actual and potential conflicts of interest throughout a professional assignment and do not provide advice or services where a conflict of interest or a significant risk of one arises, unless they do so in accordance with the current edition of Conflicts of interest, RICS professional statement. • 1.4 Firms have effective processes to identify actual and potential conflicts of interest, to enable appropriate decisions to be made on whether to accept work, and to keep records of decisions made about actual and potential conflicts of interest. • 1.5 Members and firms providing advice and opinion in a professional context do so honestly and objectively based on relevant and reliable evidence, and firms have processes to ensure that directors, partners and employees do so. • 1.6 Members and firms are open and transparent with clients about their fees and services. • 1.7 Members and firms act to prevent others being misled about their professional opinion. • 1.8 Members and firms do not take unfair advantage of others. • 1.9 Members and firms protect confidential information and only use or disclose it for the purposes for which it was provided, where they have the necessary consent to do so or where required or permitted by law. • 1.10 Firms keep client money safe and have appropriate accounting controls. • 1.11 Members do not misuse client money and comply with controls intended to keep it safe. • 1.12 Members and firms do not facilitate any financial crime including money laundering, tax evasion, bribery or corruption. Firms have effective processes to prevent directors, partners or employees from doing so.

Answer 171

• 2.1 Members and firms only undertake work that they have the knowledge, skills and resources to carry out competently • 2.2 Members and firms supervise any employees undertaking work for them and ensure that these employees have the necessary knowledge, skills and resources to do their tasks competently. • 2.3 Members and firms check that subcontractors have the necessary knowledge, skills and resources to do their tasks competently. • 2.4 Members and firms reflect on the work they have undertaken and its impacts, and consider how they might apply what they have learned to their future work. • 2.5 Members maintain and develop their knowledge and skills throughout their careers. They identify development needs, plan and undertake continuing professional development (CPD) activities to address them and are able to demonstrate they have done so. Firms encourage and support directors, partners and employees to maintain and develop their knowledge and skills, and check that they are complying with CPD requirements set by RICS. • 2.6 Members and firms stay up to date and comply with relevant legislation, codes of practice and other professional and relevant technical standards. Firms ensure that their directors, partners and employees do so.

Answer 172

• 3.1 Members and firms understand clients’ needs and objectives before accepting any professional work. • 3.2 Members and firms agree with clients the scope of the service to be provided and its limitations, and timescales for the work. • 3.3 Firms inform clients that they are regulated by RICS and that they may need to disclose records to RICS where required for regulatory purposes. • 3.4 Members and firms inform clients promptly and seek their agreement if it is proposed that any of the terms of engagement or estimated fees or costs be changed. • 3.5 Members and firms undertake their work in a timely manner; with due care, skill and diligence, and in accordance with RICS technical standards. • 3.6 Members and firms communicate to clients the material information on which their professional advice and opinion is based. • 3.7 Members and firms communicate with clients and others clearly and in a way they can understand. • 3.8 Members and firms ensure that any referral or introduction they make for a client is in the best interests of the client and inform clients about any financial or other benefits to the member or their firm from a referral or introduction. • 3.9 Members and firms keep proper records of their work and decisions in enough detail to allow them to answer questions from clients and to allow their work to be audited for quality assurance or regulatory purposes. • 3.10 Members and firms, when advising clients about projects, encourage solutions that are sustainable in that they minimise harm and deliver balanced economic, social and environmental benefits. • 3.11 Members and firms understand the risks and benefits of using relevant technology. • 3.12 Members and firms check that all data used is accurate and up to date, is kept securely, and that they have proper legal rights to use it and, where required, share it. • 3.13 Firms have effective quality assurance processes for their work.

Answer 173

• 4.1 Members and firms respect the rights of others and treat others with courtesy. • 4.2 Members and firms treat everyone fairly and do not discriminate against anyone on any improper grounds, including age, disability, gender reassignment, marriage or civil partnership, pregnancy or maternity, race, religion or belief, sex or sexual orientation. • 4.3 Members and firms do not bully, victimise or harass anyone. • 4.4 Firms check that supply chains do not involve modern slavery or other abuses of the workforce. • 4.5 Members and firms report abusive labour practices to proper and recognised authorities if they become aware of, or suspect, them. • 4.6 Members and firms work cooperatively with others. • 4.7 Members and firms develop an inclusive culture in their workplaces, support equal access and opportunity for all, and identify and address unconscious bias.

Answer 174

• 5.1 Members and firms question practices and decisions that they suspect are not right, and raise concerns with colleagues, senior management, clients, RICS or any other appropriate person, body or organisation where they believe in good faith that it is necessary to do so. Firms provide processes to allow and support individuals within the firm to raise concerns with senior management. • 5.2 Members and firms support directors, partners, employees, colleagues or clients who have acted in good faith to report concerns. • 5.3 Members and firms ensure that public statements made by the firm, or in which members are (or could be) identified as members of the profession, do not undermine public confidence in the profession. • 5.4 Members and firms respond to complaints made against them promptly, openly and professionally. • 5.5 Members and firms do not dissuade complainants from approaching an alternative dispute resolution provider, RICS or any other regulatory body. • 5.6 Members and firms cooperate with investigations into complaints or concerns, and provide information where it is reasonably requested and they can do so lawfully. • 5.7 Members consider the effect that any health conditions may have on their competence or ability to undertake professional work, and inform management or clients where they require reasonable adjustments or are unable to continue to undertake work competently. • 5.8 Members and firms manage their professional finances responsibly. • 5.9 Members and firms take appropriate action when they consider that the rules have been breached, and report suspected significant breaches of the Rules of Conduct by themselves or others to RICS.

Answer 175

This appendix sets out the core professional obligations for members and firms. Additional professional obligations are found in the mandatory requirements of RICS professional statements relevant to a member or firm’s practice. The following professional obligations to RICS are mandatory for RICS members. • Members must comply with the CPD requirements set by RICS. • Members must cooperate with RICS. • Members must promptly provide all information reasonably requested by the Standards and Regulation Board, or those exercising delegated authority on its behalf. The following obligations are mandatory for RICS-regulated firms. • Firms must publish a complaints-handling procedure, which includes an alternative dispute resolution provider approved by RICS, and maintain a complaints log. • Firms must ensure that all previous and current professional work is covered by adequate and appropriate professional indemnity cover that meets the standards approved by RICS • Firms with a sole principal must make appropriate arrangements for their professional work to continue in the event of their incapacity, death, absence from or inability to work. • Firms must cooperate with RICS. • Firms must promptly provide all information reasonably requested by the Standards and Regulation Board, or those exercising delegated authority on its behalf. • Firms must display on their business literature, in accordance with RICS’ published policy on designations, a designation to denote that they are regulated by RICS. • Firms must report to RICS any matter that they are required to report under the Rules for the Registration of Firms.

Answer 176

Personal - family or friend involved or could benefit yourself. E.g. client requests a named s/c that your friend / family member owns. Project - where not acting in interest of client / own company - e.g. asked to undertake private work for a subcontractor whilst working for a main contractor the s/c is working with. Confidential Info - you are informed of / come across information not in the public domain that could impede your decision / been seen to impede. Or where you share information considered to be confidential on a project i.e costs / details.

Answer 177

Countering bribery and corruption, money laundering and terrorist financing - Professional Statement 1ST ED - FEB 2019

Answer 178

• Not facilitate or be complicit in money laundering or terrorist financing activities • Have systems and training in place to comply with these laws, and ensure these are followed • Report any suspicions of money laundering or terrorist financing activities to the relevant authorities (as specified in local legislation); where there is no local legislation the activity should be recorded and, if possible, reported to a senior manager • Evaluate and review periodically the risks that prospective and existing business relationships present in terms of money laundering or terrorist financing offences taking place • Ensure that their responses to the risks identified are appropriate, including conducting appropriate checks on clients and customers • Use reliance only where there is an appropriate level of confidence in the quality of the information provided by the third party – reliance should only be taken from third parties with standards conforming to the legal requirements, that provide the obliged market participant with a complete exchange of all legally required AML information regarding the identified party and only by confirming the identity and verification of identity of the client or counterparty in question; ultimate responsibility for the assessment of risk and actions taken based on this remain with the member or regulated firm • Take appropriate measures to understand the client and the purpose of the transaction • Verify the identity of their client by undertaking basic identity checks • Record and retain information detailing how the firm has met the requirements of this professional statement.

Answer 179

• Gifts • Hospitality, entertainment and expenses • Customer travel and hospitality • Political contributions • Charitable donations and sponsorships • Potential conflicts of interest

Answer 180

A payment to induce officials to perform routine functions in a certain favour

Answer 181

• Proceeds of Crime Act 2002 • Money Laundering regulations 2007

Answer 182

• 14 years in prison • Unlimited fines

Answer 183

• NCA • Police • HMRC

Answer 184

• Systems and training • Measured to understand clients • Evaluate and review • Record and retain information

Answer 185

• Cash only buyers • Unusual sale price • Payments form multi sources • Excessive or rapid transaction timings

Answer 186

2022 Clement Lau Anne Grey Tina Paillet

Answer 187

• Proportionality • Top Level Commitment • Risk assessment • Communication • Due Diligence • Monitor and Review

Answer 188

The right to rectification The right to erasure The right of access The right to restrict processing The right to be informed The right of access The right to rectification The right to erasure The right to restrict processing The right to data portability The right to object Rights in relation to automated decision making and profiling.

Answer 189

Lawfulness, fairness and transparency Accuracy Data minimisation Storage limitation Purpose limitation Accountability Security / Integrity and confidentiality

Answer 190

1. APPLICATION AND DEFINITIONS 2. MEMBERSHIP AND REGISTRATION 3. DESIGNATIONS 4. CONTRIBUTIONS TO FUNDS 5. CONDUCT 6. GOVERNING COUNCIL, OFFICERS AND STAFF 7. SUBORDINATE BOARDS, COMMITTEES AND GROUPS 8. PROCEDURE FOR GENERAL MEETINGS 9. ACCOUNTS AND AUDIT 10. GENERAL

Answer 191

A campaign launched by the RICS promoting its member to promote preservation of the planet through the implementation of the UN's sustainable development goals (SDG). 17 goals in total including ; • Quality education • Affordable and clean energy • Sustainable cities and communities

Answer 192

• Fixed penalty - Minor breach - Non compliance such as CPD • Regulatory compliance order - Consent notice - Do something • Disciplinary panel - Serious breach can be appealed

Answer 193

The RICS Guidance note, 2nd edition, Nov 2018 includes : • Personal responsibilities • Assessing hazards and risk • RICS members places of work • Occupation hygiene and health • Visiting premises or sites • Fire Safety • General procurement and management of contractor

Answer 194

• Safe person concept • Consideration of the HASAWA 1974 • Fire safety • Risk control hierarchy

Answer 195

• Last update 2007 • Following consultation • Provide expected behaviours • Ensure clarity

Answer 196

To provide a clear framework for all to work to. Everyone working from the same standards.

Answer 197

• Receiving a gift • Whistle blowing • Equal opportunities • COI

Answer 198

The insurance policy in place at the time of the breach covers the claim.

Answer 199

Ethics are moral values that affect a person behavior.

Answer 200

NRM provides a standard set of measurement rules and essential guidance for the cost management of construction projects and maintenance works. NRM 1: Order of cost estimating and cost planning for capital building works NRM 2: Detailed measurement for building works NRM 3: Order of cost estimating and cost planning for building maintenance works

Answer 201

Professional Statement - Purple Regulation Document - Navy Guidance Note - Light blue

Answer 202

Client Money Handling Conflicts of Interest RICS Property Measurement RICS Home Survey Standard

Answer 203

RICS rules for firms RICS rules for members RICS rules for the use of designation Professional Indemnity Insurance Requirements

Answer 204

Contract Administration Dilapidations in England and Wales Surveying Safely Design and Specification Code of measuring practice

Answer 205

CPD activities must be completed by 31 December and recorded online by the following 31 January.

Answer 206

The RICS have a short term 3 year plan that finished this year and a Covid-19 recovery plan which includes an updated business plan (not yet approved)

Answer 207

Every 6 months or after i damage to the unit

Answer 208

NCA, there is also a freephone helpline

Answer 209

• Under the control of someone else • Reluctant to talk to strangers • Appear frightened • Few belongings • Language barrier

Answer 210

The Proceeds of Crime Act (POCA) 2002 criminalises the use of any property, such as money, shares and goods, that has been obtained through criminal conduct. Examples include tax evasion, bribery and any benefits received as a direct result of a business failing to comply with UK law.

Answer 211

These offences relate to the concealing, disguising, converting, transferring, acquisition, use and possession of criminal property, as well as an arrangement which facilitates the acquisition, retention, use or control of criminal property

Answer 212

Has COVID-19 changed how retail space is valued forever? Narrowing margins: cost of building materials soars How COVID-19 brought on the great digital transformation

Answer 213

Should clients’ money be misappropriated, the firm must inform RICS and, where appropriate, the police and their insurers.

Answer 214

Ensure there is no legal considerations, i am competent to complete the works, ensure to source informed consent and consider and information barrier internally.

Answer 215

Organisational responsibilities include: • Selections • Training • Information • Equipment • Safe systems of work • Instruction • Supervision • PPE

Answer 216

Individual responsibilities include: • Performance • Control • Adaptability • Vigilance • Awareness • Teamwork

Answer 217

RICS considers the concept of a ‘safe person’ to mean that each individual assumes individual behavioural responsibility for their own, their colleagues’ and others’ health and safety while at work.

Answer 218

Money of any currency (whether in the form of cash, cheque, draft or electronic transfer) that An RICS-regulated firm holds for or receives on behalf of another person, including money held by a regulated firm as stakeholder and∫ is not immediately due and payable on demand to the RICS-regulated firm for its own account, excluding fees paid in advance for professional work agreed to be performed, and clearly identifiable as such, unless the fees are for work undertaken as a property agent as defined by the Rules of the RICS Client Money Protection Scheme for Property Agents.

Answer 219

• 1 - Reconciliations – General bank accounts • 2 - Lack of review and approval of reconciliations • 3 - Overdrawn client ledger balances • 4 - Authorisation of client account electronic payments by non-Principals • 5 - Insufficient verification of changes to payee bank details • 6 - Reconciliation issues – old uncleared reconciling items and differences • 7 - The word ‘client’ not appearing in the bank statement title • 8 - Written client money handling issues • 9 - Suspense Accounts • 10 - Reconciliations not being completed on a regular basis

Answer 220

CMP schemes protect client money (such as rent and deposit monies) which is received by agents. Their schemes make sure landlords and tenants are compensated if an agent cannot repay their money, for example if an agent goes into administration. Membership of a CMP scheme is a legal requirement from 1st April 2019.

Answer 221

All money held or received in the course of practice can be categorised as either client money or office money

Answer 222

Dependent on the work, Competence is defined by • Skills • Knowledge • Attitude • Training • Experience

Answer 223

A check to highlight any potential conflicts of a property or client

Answer 224

• A ‘party conflict’ – a situation in which the duty to act in the interests of a client or other party in a professional assignment conflicts with a duty owed to another client or party in relation to the same or a related professional assignment. • An ‘own interest conflict’ – a situation in which the duty to act in the interests of a client in a professional assignment conflicts with the interests of that same RICS member/firm. • A ‘confidential information conflict’ – a conflict between the duty of an RICS member to provide material information to one client, and the duty of that RICS member to another client to keep that same information confidential.

Answer 225

Informed consent - Informed consent occurs when a party who might be adversely affected by a conflict of interest acknowledges the existence of that risk but still agrees to instruct an RICS- regulated firm or RICS member to proceed with the assignment.

Answer 226

The details of what the conflict is prior to engagement, consider any legal ramifications and consider a informed consent, information barrier.

Answer 227

The Responsible Principal

Answer 228

Property Ombudsman

Answer 229

They would have a named third party to initial manage this, this could fall under the locum agreement.

Answer 230

An arrangements to cover the incapacity or death of a sole practitioner. Specifically, it requires ‘a Firm which has a sole principal (i.e. a sole practitioner or a sole director in a corporate practice) to have in place appropriate arrangements in the event of that sole principal’s death or incapacity or other extended absences’. A locum is effectively another professional who is appointed to ‘stand in’ for the surveyor if they are unable to work, e.g. in the event of an accident/illness, unforeseen circumstances, prolonged absence (e.g. holiday or a sabbatical) or death.

Answer 231

Freedom of information (FOI) gives you the right to ask any public sector organisation for information they hold. Anyone can request information. You can also ask for information about yourself under data protection legislation.

Answer 232

• Address • Client details • Scope of involvement • Fee basis • Details of the complains handling procedure • Exclusion • Inspection date

Answer 233

To have an accurate, defined and dated record of the agreement in the event of future disagreement

Answer 234

Standardised feedback form

Answer 235

moral principles that govern a person's behaviour or the conducting of an activity

Answer 236

Ethics are moral principles, rules are something that has to be followed.

Answer 237

A flowchart to help with day to day ethics decisions.

Answer 238

• Application and definition • Membership and Registration • Designations • Contributions to funds • Conduct • Governing Council, officers and staff • Subordinate Boards, committees and groups • Procedure for general meetings • Accounts and audit • General

Answer 239

Min 48 hours per year, min 50% formal CPD

Answer 240

Min 20 Hours, at least 10 formal.

Answer 241

STIRR • Always provide a high standard of service • Act in a way that promotes trust in the profession • Act with Integrity • Treat others with respect • Take Responsibility

Answer 242

• Proportionality • Accountability • Consistency • Targeting • Transparency

Answer 243

• This is the gold standard in my profession • Offers guidance and support from RICS • Designation will help my career • I am committed to lifelong learning

Answer 244

Be realistic with timescales, raise to manage first then senior managers

Answer 245

LionHeart is an independent charity run by our professionals, for our professionals. Through a volunteer network, this benevolent fund offers confidential advice, information and other support to past and present members of the organisation who, for whatever reason, find themselves in difficulty.

Answer 246

I have been previous offered bottles of wine for xmas which is logged in the gifts register or declined if large value or within tender period.

Answer 247

RICS members should follow these rules: • Only offer or accept gifts and hospitality that are customary, proportionate and reasonable in terms of value and frequency • Never offer or accept any gift or hospitality if it may improperly influence your decisions/judgement or give the appearance of doing so (e.g. consider the timing of the gift) • Only offer or accept gifts and hospitality that you would be happy for others to know about • Follow the policies and procedures of your employer in relation to gifts, hospitality and promotional expenditure - e.g. record in company's gifts and hospitality register • Report any concerns about bribery to your employer or to RICS Regulation

Answer 248

Try and understand why they are not happy, try and reach a solution, refer back to CHP

Answer 249

• Public Liability • PII • Buildings • Contents • Gadget cover • Cyber

Answer 250

• Fixed Penalties • Regulatory compliance order - mutually agreed • Regulatory sanction

Answer 251

Merrett v Babb Considered if a professional employee was vulnerable to claims brought directly against them for advice given on behalf of their employers. Essentially, an individual provided valuation advice and was negligent. The firm the person worked for did not have adequate run off insurance, the company shut down and the client made a claim which was passed to the employee that gave the advice. Hart V Large The Claimants brought claims in negligence against the architects instructed by the previous owners, the Claimants’ conveyancing solicitors and Mr Large. The claims against both the architect and the solicitors settled prior to trial. Against Mr Large, the Claimants alleged that he was negligent in: (1) failing to recommend a full building survey, rather than Homebuyer report; (2) failing to draw attention to the issues of water ingress / damp in the Homebuyer report; and (3) failing to recommend that the Claimants obtain a professional consultant’s certificate. The key take-aways from this case: Being clear on the report about the scope of inspection including limitations, caveats and actions available to the client; Recommending justifiable further investigation; Taking all reasonable steps to ensure clients understand the differences between the levels of service, including the extent and limitations of each option

Answer 252

• PI Insurance • Responsible Principal • Contact officer • CHP • Procedure for clients money • Complaints handling procedure • Suitable MRICS principles

Answer 253

The Bribery Act has been in force since 2011. Bribery is defined as when a person offers, gives or promises to give a "financial or other advantage" to another individual in exchange for "improperly" performing a "relevant function or activity"

Answer 254

• Approved minimum wording • Fire safety cover • Cyber cover • Updated approved insurers

Answer 255

Client specific

Answer 256

The Bribery Act creates four categories of offences: • Offering, promising or giving a bribe to another person; • Requesting, agreeing to receive or accepting a bribe from another person; • Bribing a foreign public official; and • The corporate offence of failing to prevent bribery.

Answer 257

To ensure the longevity of the profession

Answer 258

Cover to a firm when it ceases to trade. RICS require 6 years for consumer claims and a minimum of £1,000,000

Answer 259

It is for this reason that the Bribery Act has come into being: to prevent acts of bribery, from small gifts to serious donations, from creating a culture of endemic corruption, for the sole purpose of winning overseas contracts and increasing your own revenue.

Answer 260

If I excepted cash payment or was involved within the sale of property.

Answer 261

Money of any currency (whether in the form of cash, cheque, draft or electronic transfer) that: An RICS-regulated firm holds for or receives on behalf of another person, including money held by a regulated firm as stakeholder and is not immediately due and payable on demand to the RICS-regulated firm for its own account, excluding fees paid in advance for professional work agreed to be performed, and clearly identifiable as such, unless the fees are for work undertaken as a property agent as defined by the Rules of the RICS Client Money Protection Scheme for Property Agents.

Answer 262

Based on the RICS Regulation Document - Professional Indemnity Insurance - which dictates the minimum levels of PII and the maximum levels of in insured excess.

Answer 263

• Simplified structure to consolidate the existing ethical standards and how to maintain competence and service. • Clear examples of the expected behaviour to illustrate compliance. • Incorporate sustainability • Supporting the use of technology – members and firms must understand the risks of technology particularly with data usage. • Respect – non discrimination, modern slavery, diversity 2020 consultation adds five rules based on existing international ethical standards. • Rule 1 – Honesty and integrity • Rule 2 – Maintaining competence • Rule 3 – Quality Service, Care, Diligence • Rule 4 – Respect • Rule 5 - Public interest and responsibility

Answer 264

Candidate specific

Answer 265

We have a standard feedback template that be amended to suit.

Answer 266

I use an internal system to check against both the client and the address, this is also backed up with a conversation between the surveyors in the office.

Answer 267

I would consider using a contractor that I has professional appointed however I would ensure to make it clear that this project, prices etc will have no bearing on my ability to act impartially and in the interest of my client.

Answer 268

I have not. However I would consider the timing and proportionality, anything accepted would be detailed in the gift register.

Answer 269

Treat others with respect - I ensure in all my dealing to be respectful, courteous and considerate both in my professional and person life.

Answer 270

From a broker ensuring the policy is underwritten by an approved under righter (Approved by RICS)

Answer 271

I have not , however if I did it would initially be passes to the responsible principal for dealings

Answer 272

• Register with RICS • Create CHP • Register for and have procedures for clients money • PII Insurance • Appoint a contact officer • Appoint a responsible principal • Potential locum agreement • Ensure min 25% MRICS principals • Training and CPD policy

Answer 273

They do not, different RAMS and CDM

Answer 274

• Safe Person Concept • Personal and corporate responsibility • Legal considerations and duties • Assessing hazards and risks • Property professional’s place of work • Occupational Health • Visiting premises and sites • Procurement and management of contractors and construction works.

Answer 275

• Aims to eliminate or reduce accidents associated with working at height • Ensure staff are trained to use ladders, scaffolding and how to be safe at height • Requirement for Risk Assessment and Method Statement • Keep ladders and scaffolding secure

Answer 276

I have foriflled this via teams and online platforms, As things open up I will endeavor to go to events in person when suitable.

Answer 277

That the market is particularly volatile and these can increase and decrease, this has an impact of tender prices and timescales attached to this.

Answer 278

This is where the main contractor is to allow for VAT and not pay sub contractors, they are responsible to treat the VAT

Answer 279

1. Application and definition 2. Membership and Registration 3. Designations 4. Contributions to funds 5. Conduct 6. Governing Council, officers and staff 7. Subordinate Boards, committees and groups 8. Procedure for general meetings 9. Accounts and audit 10. General

Answer 280

A tool to help with difficult decisions day to day. Consideration of it is legal ? Outcome are do not proceed, act or record.

Answer 281

• Fire safety cover. Since 2020, insurers have imposed a blanket fire safety exclusion on PII terms provided due to concern following high profile fire safety failures, meaning chartered surveying firms have increasingly been left uninsured for fire safety exposure on all aspects of their business.Under the new terms, insurers are not permitted without specific dispensation to exclude fire safety claims on a property four storeys or less and fire safety coverage must be provided as a minimum on an aggregate, defence cost inclusive basis. • Cyber cover There is a new regulatory requirement for insurers to clarify the cyber cover provided in PII policies. The changes do not restrict the cover provided in PII policies, but clarifies existing requirements on insurers from their regulator the Prudential Regulatory Authority. • Approved Insurers A new insurer has joined the list of RICS Approved Insurers, providing a greater competition and increasing the availability of cover.

Answer 282

"The 'Black Book' is a suite of guidance notes that define good technical standards for quantity surveying and construction professionals. • Including : • Subcontracting - 1st Edition • Acceleration - 1st Edition • E-Tendering - 2nd Edition • Extension of time - 1st Edition • Interim Valuation and payments - 1st Edition • Retention - 1st Edition • Tendering Strategies - 1st Edition"

Answer 283

In the event of a dispute a stand alone/independent third party will be enlisted to manage the manage the dispute.

Answer 284

• RICS Property Measurement - 2nd Ed - 2018 • Conflict of interest - 1st Ed - March 2017 • RICS Home Survey Standard - 1st Ed - March 2021"

Answer 285

• Surveying Safely - V2 - Nov 18 • Dilapidations in England and Wales - V7 - Sep 2016 • Retention - V1 - 2012

Answer 286

Networking, social media, website. No client poaching

Answer 287

RICS Valuation - Global Standards ('Red Book Global Standards') contains mandatory rules, best practice guidance and related commentary for all members undertaking asset valuations. The Red Book is issued by RICS as part of our commitment to promote and support high standards in valuation delivery worldwide.

Answer 288

The 'Black Book' is a suite of guidance notes that define good technical standards for quantity surveying and construction professionals. Including : Subcontracting - 1st Edition Acceleration - 1st Edition Extension of time - 1st Edition Interim Valuation and payments - 1st Edition Retention - 1st Edition Tendering Strategies - 1st Edition E-Tendering - 2nd Edition

Answer 289

This is a guidance note. It provides advice to RICS members on aspects of their practice. Where procedures are recommended for specific professional tasks, these are intended to embody ‘best practice’, i.e. procedures which in the opinion of RICS meet a high standard of professional competence.

Answer 290

The purposes of having professional indemnity insurance are to: • ensure that if the firm faces a claim, it is protected from financial loss that it cannot meet from its own resources • protect the insured member or firm against the consequences of its liability to pay damages to third parties for breaches of professional duty that it commits through its professional activities • ensure that the firm’s clients do not suffer financial loss, which the firm cannot meet. Firms will adopt different ways of meeting these aims according to their size, the risks attached to the type of work they carry out and their resources.

Answer 291

RICS’ minimum policy wording or more comprehensive wording. As a minimum, you should ensure that your policy wording is written on a full civil liability basis and the minimum level of indemnity based on the firm’s turnover in the previous year (or estimated for a new firm). To manage their risk adequately, some firms may wish to hold a higher level of indemnity.