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APC > Ethics > Flashcards

Ethics Flashcards

1
Q

When was RICS founded?

A

1868

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2
Q

What do the RICS regulations and bye-laws set out?

A

Set out the governance of the Institution.

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3
Q

When was the Royal Charter granted?

A

1881

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4
Q

What does RICS stand for?

A

Royal Institution of Chartered Surveyors

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5
Q

What are the 4 levels of RICS membership?

A

FRIC
MRICS
AssocRICS
Trainee

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6
Q

How do you become FRICS?

A
  • 5 Years MRICS
  • Leadership role
  • Professional/technical achievement
  • Raising profile of RICS

4 characteristics of FRICS

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7
Q

What are the challenges facing RICS?

A

Climate change
Need to stay relevant
New areas evolving such as carbon accounting, valuing natural capital

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8
Q

What is the role of the RICS?

A
  1. To promote and enforce highest professional qualifications and standards in development and management of land, property, environmental issues
  2. Accountable to members and the public
  3. Political engagement
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9
Q

What are the RICS three main roles?

A
  1. Maintain high standards of training and education
  2. Protect clients via the Professional Standards
  3. Be the leading source of information and independent advice on land and property
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10
Q

Key buzzwords for ‘Role of RICS’

A

Leading international standards
Protect consumers
Professionalism
Across built and natural environment

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11
Q

What are the type of conflict of interest?

A
  1. Party Own
  2. Own interest
  3. Confidential information
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12
Q

What is the name of the RICS guidance for conflict of interests?

A

RICS professional standards and guidance, global Conflict of Interest, 1st edition March 2017

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13
Q

What is a conflict of interest?

A

‘where an agent acts for clients who have competing interests, or where an agent’s personal interest conflicts with that/those of their client’.

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14
Q

A conflict of interest has been identified. What would you do?

A

Consider:

a) will the conflict prevent me (the agent) from providing competent and diligent advice
b) whether it is in the best interest of the client to gain informed consent
c) ensure that the work is not illegal

If I am satisfied with these, I will gain Informed Consent.

  • inform client and relevant parties of the conflict and what it is
  • that is may impact ability to provide reasoned advice
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15
Q

What is Informed Consent?

A

It is consent given willingly by a client who is:
• Aware of the conflict of interest and what it is
• That it may impact on an agents ability to work

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16
Q

What are members and firms responsibility towards managing CoI?

A
  1. Firms must have appropriate systems in place as per size of the firm
  2. Record all conflicts
  3. Record how conflicts are dealt with e.g. information barriers
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17
Q

What is an information barrier?

A

A separation of people or information within a firm so that confidential information is not shared,

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18
Q

what is confidential information?

A

It is confidential information whether it be held or disseminated verbally, in hard copy or electronically.

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19
Q

When did the RICS guidance become effective?

A

1st January 2018.

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20
Q

What is a complaints handling procedure?

A

It is a procedure that must be put in place by a RICS regulated firm to ensure that complaints are handled appropriately

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21
Q

What is your company’s CHP procedure?

A
  1. Report recieved
    Advise we would like in writing
  2. MD responds to initial complaint in 7 days. Customer has opportunity to provide further information.
  3. MD undertakes internal investigation. Provides a report within 28 days.

If customer unhappy, refer to Stage 2.

Stage 2: referral to an ADR system.

Property Sales and Letting - The Property Ombudman
General Practice: CEDR - Centre for Effective Dispute Resolution

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22
Q

What did the Alternative Dispute Resolution Act 2015 do?

A

It enabled ADR to be provided by ADR certified bodies to become available to deal with complaints between consumers and a business

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23
Q

Why have a CHP?

A
  1. Requirement of Rule 7 of Rules of Conduct
  2. Provides a standard for handling of complaints, allowing for consistency
  3. Mitigates financial or reputational risk
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24
Q

What is independent redress scheme?

A

Allows consumers to take their complaint to an ADR service or businesses to take a compliant to an ADR service to deal with the complaint.

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25
Q

Who might you need to inform if you receive a complaint?

A
  1. PII insurer

2. Redress scheme

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26
Q

When might you need to contact your PII?

A
  1. If terms of the PII state you must do so and when
27
Q

When might a complaint arise?

A

When expectations have not been met

28
Q

How can you mitigate a complaint?

A
  1. Scope of services and fee clearly laid out in ToE
  2. Explain scope of work and fee at outset
  3. Have a CPH
29
Q

What considerations must your firm have when preparing complaints handling systems?

A
  1. Rules of Conduct - Rule 7
  2. Ensuring all staff are aware of CHS
  3. Included in ToE
  4. Regularly reviewed by senior staff
  5. Appropriate to the size of the business
    6 Agreed with PII
30
Q

What happens if a claim is made against you?

A

Contact PII

31
Q

What are the benefits of being an RICS member?

A
  1. Knowledge
  2. Network
  3. Status and Recognition
  4. Market Advantage
32
Q

What are the Principles for RICS Regulation for Members and Firms?

A 
PACTT
Proportionality 
Accountability
Consistency
Transparency 
Targeting
33
Q

RICS Global Professional and Ethical Standards

A

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

34
Q

Give an example of when you have provided the highest standard of service?

A
  • ensuring to respond to all enquiries from clients in a timely manner\
  • paying contractors’ invoices in a timely manner
  • Doing what I say I will do in a timely manner
35
Q

What behaviours and actions do you align with providing the highest standard of service?

A
  • Being clear about the service I am providing
  • Transparency of fees
  • Acting within my scope of competence
  • Communicate with client in a way that allows them to make informed decisions
  • Paying contractors in a timely manner
36
Q

What does it mean to act in a way that promotes trust within the profession?

A

Acting in a way that promotes me, my firm and the profession in a positive and professional way.

37
Q

What behaviours and actions can you make to act in a way that promotes trust within the profession?

A
  • Acting professionally inside and outside of work

- Doing what I say I will

38
Q

Give an example of when you have promoted trust within the profession?

A

A farming client asked me to explore CSS options for their farm and after meeting the client, I advised I would be able to provide recommendations within 1 week. I provided recommendations within the week.

39
Q

What does it mean to act with integrity?

A

Being straightforward and honest in all that I do

40
Q

What behaviours and actions can ensure that I act with integrity?

A
  • Truthful
  • Transparent
  • Respectful of confidential information
  • Not taking advantage of clients
41
Q

Give an example of when you have acted with integrity?

A

When a client informed me of personal information, I ensured to respect this and have kept the information confidential.

42
Q

What does it mean to take responsibility?

A

Being accountable for your actions

43
Q

What actions and behaviours to do undertake to ensure you take responsibility?

A
  • Act with care, skill and diligence.
  • If someone makes a complaint, respond in an appropriate and professional manner and ensure to response the matter as satisfactory as I can
  • If you think something is not right, be prepared to raise it and improve it.
44
Q

Give an example of when you have taken responsibility?

A

I take responsibility when I lone work by always ensuring to keep my diary up to date and make sure my colleagues know where I am.

45
Q

What does it mean to treat others with respect?

A

Treating others with respect is to treat all people with courtesy, politeness and consideration, regardless of their race, sexuality, age, orientation or beliefs.

46
Q

What actions and behaviours do you undertake to ensure you treat others with respect?

A
  • Be courteous, polite and considerate to everyone you meet.
  • Do not discriminate against anyone, for any reason.
47
Q

Give an example of when you have treated others wth respect?

A

I always do. But when take property enquiries, I always ensure to treat them with politness.

48
Q

What are the new Rules of Conduct?

A
  1. RICS members and firms must be honest, act with integrity and comply with professional obligations
  2. RICS members and firms must maintain professional competence and ensure services are provided by competent individuals with necessary skills
  3. RICS members and firms must provide a good quality and diligent service
  4. RICS members and firms must treat others with respect and encourage diversity and inclusion
  5. RICS members shall:
    - act in the public interest
    - take responsibility
    - act to prevent harm
    - maintain public confidence
49
Q

When are the new rules of conduct introduced?

A

2nd February 2022

50
Q

What are the key changes between the old and new Rules of Conduct?

A
  1. Simplified - now only 5 with examples
  2. Encourage diversity
  3. Ensure the profession is fair and inclusive
  4. Underpin confidence of clients, market and the public
  5. Support surveyors worldwide
51
Q

What are some of the examples given under the new Rules of Conduct - Rule 1?

A
  • Do not mislead others
  • Do not be influenced improperly by others
  • Identify conflict of interests
  • Open and transparent about fees
  • Keep client money safe
52
Q

New rules of conduct - Examples under Rule 2?

A
  • only undertake work where have knowledge, skills and resources
  • check subcontractors have necessary knowledge
  • reflect on work
  • comply with CPD
53
Q

New rules of conduct - Examples under Rule 3?

A
  • agree scope of services and timescales with client
  • undertake work in a timely manner, with due care, skills and diligence
  • communicate with clients clearly and in a way they can understand
54
Q

New rules of conduct - Examples under Rule 4?

A
  • treat others with courtesy
  • treat everyone fairly
  • do not discriminate
  • do not bully
55
Q

New rules of conduct - Examples under Rule 5?

A
  • respond to complaints made against them promptly
  • question decisions they suspect are not right
  • manage financials appropriately
56
Q

What are the headings in Terms of Engagement?

A 
Client 
Firm 
Agent 
Scope of Work 
Fees / Fee Review 
Withdrawal of Instruction
Client Account 
Cancellation of Contract 
Conflict of Interest 
Dispute Resolution 
Equality Act 2010 
GDPR 
Invoices - submission of, payment of 
Money Laundering 
Limitation of Liability 
Appendix:
Complaints Handling 
Cancellation Form
57
Q

What different type of fees can be set?

A
  • Commission (agency, CSS application)
  • Fixed fee (Client has certainty)
  • Hourly Charge
58
Q

What are the current Rules of Conduct for members?

A

Part 1: General

  1. Interpretation = what a member is.
    Chartered member, non-chartered member and honorary member.
  2. Communication = how RICS will communicate with members

Part 2: Personal and Professional Standards
3. Ethical Behaviour = act with integrity, avoid conflicts of interest, avoid situations that are inconsistent with professional obligations

  1. Competence = act with due skill, care and diligence. With regard to technical standards expected of them.
  2. Service = timely manner. With regard to standards of service and client care.
  3. CPD = continuing professional development
  4. Solvency = personal and professional finances are in order
  5. Information to RICS = timely manner and in format requested to Standards and Regulation Board
  6. Cooperation = cooperation within rics and any members of the standards and regulations board.
59
Q

What are the RICS Rules of Conduct for Firms?

A

Part 1: 1 General
1. Interpretation = ‘providing a surveying service to the public’, Contact Officer and Firm

  1. Communication

Part 2: Conduct of Business
3. Professional Behaviour = act with integrity, avoid conflict of interest, avoid situations which are inconsistent with professional obligation

  1. Conduct = act with due skill, care and diligence and in line with technical standards expected of them
  2. Service = act in a timely manner and in line with standards of service and client care expected
  3. Training and CPD = ensuring procedures are in place so that staff are properly trained and competent to do work
  4. Complaints Handling = must have CHS procedure in place and a log book. ADR in place.
  5. Client account = preserve the security of client money
  6. Indemnity = current and previous work, must have appropriate and adequate indemnity insurance

Part 3: Firm Administration

  1. Advertising = all advertising of the professional services must be truthful and responsible
  2. Solvency = must ensure finances are managed appropriately
  3. Arranges to cover the incapacitation of a sole practicioner = must have arrangements in place to cover a sole trader who may have died or for long abdscencs
  4. Use of designation = all business literate must have RICS designation
  5. Information to RICS = Firms must provide information to RICS in a timely manner and in format required by the Standards and Regulations Board
  6. Cooperation = cooperate fully with RICS members and members of Standards and Regulations Board
60
Q

What version are the Rules of Conduct and on which date did they become effective?

A

Version 7.

Effective 2 March 2020.

61
Q

What are the differences between the current and the proposed Rules of Conduct?

A
  1. Amalgamation of rules of conduct for firms and members - it is now one document
  2. Simplification - there are 5 rules of conduct with many examples underneath
  3. Greater emphasis placed on being inclusive, encouraging diversity and treating others with respect.
62
Q

What is the RICS Ethics Decision Tree?

A

It is a way for members to check whether they are acting as ethically as they can in line with their professional obligations.

63
Q

What does the Ethics Decision Tree contain?

A
  1. Have you got all the FACTS?
  2. Is is LEGAL?
  3. Comply with PROFESSIONAL AND ETHICAL STANDARDS?
  4. Have you consulted the CORRECT PEOPLE?
  5. Do you have CLEAR REASONIG/INFORMED DECISION?
  6. Would you be happy for decision to be MADE PUBLIC?

Directs them to:

  • Action
  • Do not act
  • Record decision

APC (12 decks)

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