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RICS APC Level 1 > Ethics > Flashcards

Ethics Flashcards

1
Q

How would you define ethical behaviour for a chartered surveyor?

A

Acting in accordance with the 5 RICS professional and ethical standards:

  1. Act with integrity
  2. Always provide a high standard of service
  3. Act in a way that promotes trust in the profession
  4. Treat others with respect
  5. Take responsibility
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2
Q

Why are the ethical standards important?

A

Create a clear and streamlined guide to members to ensure that clients and anyone else who deals with the RICS has confidence in the profession

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3
Q

Give some examples of how you could reflect the RICS ethical standards in your work.

A
  1. Integrity - turning down an invitation from a contractor whilst settling the final account
  2. High standard of service - referring clients to specialists when scope is outside competence
  3. Trust - rejecting the early certification of work
  4. Respect - working with people from different backgrounds equally
  5. Responsibility - questioning unsafe working on site
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4
Q

What is the RICS Decision Tree?

A

Flowchart to help members decide how to act in difficult situations where their professional ethics may be at stake

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5
Q

What factors does the RICS Decision Tree consider?

A
  1. Sufficient facts
  2. Legality
  3. Ethical standards
  4. Consultation of appropriate people
  5. Clear reasoning
  6. Impact if actions made public
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6
Q

What is a conflict of interest?

A

Anything that impedes or might be perceived to impede an individual’s or firm’s ability to act impartially and in the best interest of a client. such as:

  1. Acting for two different parties with competing interests at the same time
  2. Financial interests (e.g. gaining over and above your normal fee)
  3. Personal relationship
  4. Commercial relationship
  5. Interests of your firm conflict with that of your client
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7
Q

What should a surveyor do if a conflict of interest arises?

A
  1. Should be dealt with by implementing openness and transparency
  2. Declare any conflicts of interest clearly to all parties ASAP and offer to stand down from acting for any party
  3. All parties can then decide how they wish to proceed and if there are any objections you must stand down
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8
Q

What is a ‘Chinese Wall’?

A

An information barrier within an organisation used in order to prevent exchanges or communication that could lead to a conflict of interest

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9
Q

Can one part of a chartered surveying practice work for a client, whilst another part of the practice is working for a different client who has conflicting interests to the first?

A

Yes, providing a Chinese wall is effectively implemented
Teams should be physically separated in different parts of the building (or in different buildings)
Requires a compliance officer to monitor the ‘wall’ - education and training must be made available to those managing the wall

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10
Q

What is the purpose of the RICS?

A
  1. Regulate and promote the surveying profession
  2. Maintain the highest educational and professional standards
  3. Protect clients and consumers via a strict code of ethics
  4. Provide impartial advice and guidance
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11
Q

What is the purpose of the Royal Charter?

A
  1. Changes a body from a collection of individuals into a single legal entity
  2. Written description of the RICS’ powers (e.g. self-regulation) and obligations (e.g. advancement of knowledge, appointment of a Governing Council etc.)
  3. Requires the RICS to develop the profession for the public advantage
  4. Allows members to use the term ‘chartered’ in their job title
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12
Q

What are bye-laws?

A

A list of laws applied internally using powers granted by the Royal Charter (aka the RICS’ constitution)

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13
Q

Explain the relationship between the Privy Council and the RICS.

A
  • Privy Council - a body set up in the early days of the monarchy to advise the king/queen on matters of state and not put before parliament
  • Any changes to the bye-laws have to be approved by the UK Government, through the Privy Council, even if the changes have already been approved by a majority vote of RICS members
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14
Q

What is the RICS Governing Council?

A
  • Manages the Royal Charter Obligations, setting direction and strategy
  • Establishes the Regulatory Board, Management Board and other committees (e.g. Audit Committee)
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15
Q

How is the RICS Governing Council elected?

A
  1. Elections are held every two years and are open to all FRICS, MRICS and AssocRICS members
  2. Comprises of members from world regions, specific countries, regions of England, the professional groups, Matrics and members as a whole
  3. All Members can vote in the whole membership category
  4. For geographical seats, only Members based in that geographical area may vote
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16
Q

How many RICS regional boards are there in the UK?

A

Nine regional boards:

  1. East Midlands
  2. East of England
  3. London
  4. North East
  5. North West
  6. South East
  7. South West
  8. West Midlands
  9. Yorkshire and the Humber
17
Q

What professional groups are there within the RICS?

A

Three sectors contain different RICS professional groups:

  1. Land (e.g. environment, minerals and waste, planning and development etc.)
  2. Property (e.g. valuation, facilities management, residential property etc.)
  3. Construction (e.g. building surveying, building control, project management, quantity surveying etc.)
18
Q

What is RICS Matrics?

A
  • Established to support, develop and provide networking for its members, who are either entering or not long qualified in the surveying profession
  • Organises networking opportunities, charity events and CPD, as well as providing a voice for individuals new to the profession
19
Q

What is Lion Heart?

A
  • Charity funded through past and present RICS members
  • Provides support to members (past and present) and their families, including financial support, health and wellbeing packages and work-related support
20
Q

What is the BCIS and what is its relationship to the RICS?

A
  • Building Cost Information Service (BCIS) is published by the RICS
  • It provides independent cost and price information for key areas in the construction industry
21
Q

Who is the current RICS President?

A

Clement Lau FRICS - RICS President

22
Q

How does the RICS discipline members?

A
  • When an allegation is received, the RICS Head of Regulation will:
  • Make further enquiries.
  • Inform the person the allegation is made against in writing, who can write a response within 28 days.
  • Decide whether there are grounds for the complaint.
  • If there is, they will either:
  • Issue a consent order.
  • Issue a fixed penalty.
23
Q

What is a regulatory compliance order (used to be consent order)?

A 
• An order outlining what needs to be changed. It will usually outline what actions need to be taken, and by what date they need to be achieved.
Caution
Reprimand
• Pay a fine.
• Pay RICS Costs.
24
Q

What issues do you know about that the RICS are looking into?

A

The rising prices of housing in relation to the lack of supply and over demand. Further to this, house building is driving the current construction industry boom.

25
Q

Where is the RICS Head Quarters?

A

Parliament Square, London.

26
Q

Can you describe the RICS governing structure to me?

A

Top is privy council that grants awards and royal charter

  1. Then Governing Council - sets strategy and provides high level assurance
  2. Below this is the Standards and Regulatory Board, the Audit Committee and the Management Board.
  3. Below the Management board there are 3sub-boards, being:
    a. Regional boards
    b. Finance committee.
    c. Remunerations committee
  4. Separate independent regulatory tribunal
27
Q

What is the Carsberg Report?

A

A report undertaken in 2005 as a result of members general dissatisfaction with the RICS’ internal Regulatory procedures.

28
Q

What did the Carsberg Report introduce?

A
  • The conduct board, who operate the disciplinary measures.
  • The requirement for firms to be regulated as well as Members.
  • The Rules of Conduct, which have subsequently been revised into their most recent format in 2013.
  • A profession that is better regulated.
29
Q

What Help Sheets does the RICS publish?

A

o CPD.
o Complaints Handling Procedure.
o Handling Clients Money.
o PII Requirements.

RICS APC Level 1 (17 decks)

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