Ethics

Question 1

Can you describe the structure/ Name the governing bodies of the RICS

Answer 1

• governing council
• management board
• standards and regulation board
• audit committee as required by the royal charter and by-laws

Question 2

What are the 4 main roles of the RICS?

Answer 2

Regulate and Promote the Profession
- Maintain highest educational and professional standards
- Protect clients and consumers
- Provide impartial advice and guidance

Question 3

What is the RICS VISION

Answer 3

• Increase presence in intended markets
• To be recognised as the leading body that develops and enforces professional standards
• act with integrity and champion the profession
• be strategically placed in major cities to advise governments

Question 4

How old is RICS

Answer 4

It was founded in 1972 but can trace history back to 1868 when the surveys club was formed

Question 5

Who is president of RICS

Answer 5

Clement Lau

Question 6

What are the recent changes to the rules?

Answer 6

The new rules are a single document which makes it easier for RICS members and firms and the public to understand and we’re effective from Feb 2022

Question 7

What do the New rules replace

Answer 7

The replace 3 documents
- rules of conducts for members
- rules of conducts for firms
- global professional and ethics standards

Question 8

What are the new rules

Answer 8

Rule 1 - members and firms must be honest and act with integrity
Rule 2 - members and firms must maintain their professional competence, and that services are provided by competent individuals
Rule 3 - members 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 and take responsibility for their actions

Question 9

Give examples of when you have used the rules

Answer 9

Rule 1 - south Kilburn project: advised client it would be unfair to request savings for works that would not be undertaken
Rule 2 - when client asked to advise on party wall matters / I escalated to a member of my team who was better equipped with the necessary info
Rule 3 - communicated clearly with my client and provided good service which secured repeat business
Rule 4 - requested junior member of team assist me on projects and have always been polite and respectful to clients and gained good feedback
Rule 5 - Notifying a contractor on one of the projects that may need to make sure payments are kept clean and free from any materials

Question 10

What professional obligations for members

Answer 10

• Comply with CPD
• cooperate with RICS
• provide all info promptly that is reasonable requested by the standard and regulation board

Question 11

What are the professional obligations of firms

Answer 11

• must publish complaints handling procedures and log
• all previous and current work is covered by appropriate PI cover
• firms must make arrangements for works to continue in event of incapacity/ death
• must cooperate with RICS
• provide information requested by stands and regulation board
• display business literature in accordance with RICS
• Must report to RICS any matter that they are required to report

Question 12

What are the rules for the registration of firms

Answer 12

• They set out which firms are required to register with RICS for regulation
• eligibility criteria for applying for regulation
• the procedure for registration, de re-registration and appeal

Question 13

What is a professional statement

Answer 13

A document that provides members with mandatory requirements of a role that a member or firm is expected to adhere to.

Question 14

Give 3 examples of professional statements

Answer 14

1. conflicts of interest
2. Client money handling
3. bribery, corruption, money laundering and terrorist financing

Question 15

What is a guidance note

Answer 15

A document that provides users with recommendations or approach for accepted good practice

Question 16

Name 3 examples of guidance notes

Answer 16

1. Complaints handling
2. Surveying safety (2nd edition, November 2018)
3. Change control and management

Question 17

What is the different between code of practice and guidance notes

Answer 17

COP is approved by RICS where as guidance notes is recommended good practice

Question 18

What must a complaints handling procedure have?

Answer 18

Effective and transparent procedures

Question 19

Tell me about the complaints handling procedure at your firm

Answer 19

Two stage process
Stage 1 - respond and acknowledge complaint within 7 days. Within 21 days write with outcome
Stage 2 - Redress scheme which is the RICS DISPUTE RESOLUTION SERVICE

Question 20

When is the complainants handling procedure issued

Answer 20

A copy is available on request

Question 21

You declined a social event with the developer - what legislation do you have to consider? How do you access if this is appropriate?

Answer 21

Bribery act 2010

Timing of social event has to be considered

Question 22

Other then ethical practice, what else would you have to consider when the contractor invited you to a social event

Answer 22

Check that it wasn’t a bribe

Check to see if my client had been invited

Check the gifts and hospitality register at work

If I sure check with senior partner

Question 23

What is bribery

Answer 23

An Offer, promise, giving, demanding or acceptance of an advantage as an inducement for an action that is illegal, unethical or a breach of trust

Question 24

If someone offered you a bribe, what would you do?

Answer 24

Decline and report to the relevant authorities as well as senior management

Question 25

What is the bribery act

Answer 25

It covers criminal law to bribery, the 4 areas are:

Offence of bribery
Offence of being bribed
Offence of bribing a foreign public official
Corporate offence of failing to prevent bribery

Question 26

What is a Conflict of Interest

Answer 26

Where there may be an actual, perceived or potential risk that the professional judgement of an RICS firm or member could be compromised when undertaking an assignment

Question 27

Give an example of a COI you have experienced?

Answer 27

Personally I’ve not experienced one, but my company procedure is to send internal emails to check for conflicts before engaging on a project.

Question 28

What is informed consent

Answer 28

Consent giving willingly by a party who maybe affected by a conflict of interest but chose to continue

Question 29

What is your companies Gifts & Hospitality policy

Answer 29

It needs to comply with local law

It does not include cash or cash equivalents

Details must be given of hospitality received

Question 30

How do you no if CPD is formal or informal

Answer 30

I used the CPD decision tree

Question 31

What is the RICS mission statement

Answer 31

To qualify and equip our professionals to the highest level

Promote and enforce standards

To lead solutions to the major challenges facing the built environment through professional expertise

Question 32

What do registered firms need to send to the RICS every year

Answer 32

Annual return

Type of business and staffing

Nature of clients

Training provisions

CHP and LOG

Any client money held

Question 33

What is money laundering

Answer 33

Concealing the source of the proceeds of criminal activity to disguise their illegal origin

Question 34

why do you want to be a member of the RICS?

Answer 34

Recognition
status
market advantage