Ethics

Question 1

Can you tell me about the RICS governance structure?

Question 2

What is the role of RICS

Answer 2

1) maintain highest standards of education and training.

2) protect consumers with regulation and professional standards

3) Leading source of information and advise for land property and construction.

Question 3

Why do you want to become a RICS member/what are the benefits?

Answer 3

1) Status
2) Recognition
3) Market advantage
4) Knowledge
5) Network

Question 4

Info required for RICS registration

Answer 4

Type of business
Name of responsible principle
Nature of clients
Complaints handling procedure
Professional indemnity insurance details
Whether a firm holds client money

Question 5

In the RICS Rules of Conduct (2021) what are the 5 rules

Answer 5

1) honesty and integrity
2) maintain professional competence
3) Provide good quality service
4) Respect and encourage diversity and inclusion
5) Act in public interest and maintain public confidence in the profession.

Question 6

What is rule 1 and give me an example how you’ve applied this?

Question 7

What is rule 2 and give me an example how you’ve applied this?

Question 8

What is rule 3 and give me an example how you’ve applied this?

Question 9

What is rule 4 and give me an example how you’ve applied this?

Question 10

What is rule 5 and give me an example how you’ve applied this?

Question 11

Why updated RICS Code of conduct 2021?

Answer 11

Simpler structure
Focus on respect diversity and inclusion
Understanding evolving technologies
Tackling global challenges

Question 12

Types of conflict of Interet?

Answer 12

Party conflict
Own interest conflict
Confidential information conflict

Question 13

How to handle conflict of Interest?

Answer 13

Step 1) conflict avoidance
Step 2) written advise to both parties if in all interests
Step 3) conflict management (info barrier)

Question 14

Professional Indemnity Insurance - why is it essential?

Answer 14

Protects clients surveyors and third party from negligence claims when duty of care is breached

Question 15

What are the 6 areas covered in Professional Standard: Client Money Handling (2019)

Answer 15

1) holding Client Money
2) providing information to Client
3) receipt of Client Money
4) payment from Client accounts
5) accounting records and control
6) compliance

Question 16

Starting a practice?

Question 17

Closing a practice?

Question 18

Bribery Act (2010) what are the 6 principles?

Question 19

What is bribery?

Question 20

What is money laundering ?

Question 21

What is included in Terroist Financing and transfer of funds regulations (2017)