Ethics Flashcards
2024 APC
How many Professional Groups are there and how many of them can you join for the full membership fee?
18 Professional Bodies,
inc. Building Surveying, QS, PM, Valuation, Rural, Residential Property
Assumed you can join all?
Who is the BCIS and what is its relationship to RICS
BCIS = Building Cost Information Service
Founded as part of RICS now a standalone company. Provider of cost and price information.
What is the governing council and how is it elected
- Highest governing council, setting globale strategy and ensuring RICS fulfil Royal Charter obligations.
- Sets requirements for entry into profession and setting and enforcing professional standards.
- Elected by voting results - 7.5% turnout last time (2024).
In broad terms what are the RICS Byelaws
Provide power for the Head of Regulation and Regulatory Tribunal to make disciplinary and regulatory decisions including issuing disciplinary penalties and costs.
What is RICS Matrics and how does it create Social Value
Early career community to support students, apprentices and trainees.
Allows opportunity for this community to impress their views and opinions.
Also allows for social engagement i.e. visiting schools to promote the profession.
What is Lionheart and how does it create social value
Independent charity for past, present and future RICS professionals and their families.
Support is global and includes:
- finance
- health and wellbeing
- family support
- work related support.
Current RICS president and how long do they serve?
Tina Paillet - 1 year
Explain the relationship between the Privy council and the RICS
- 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
What is the purpose of professional Groups
The purpose of the Professional Group Panels is to maintain and develop the knowledge and practice of surveying for the public advantage through: RICS influence in the sector through research and thought leadership
Why do we have Guidance Notes, and do you have to follow them?
RICS guidance notes set out good practice for RICS members and for firms that are regulated by RICS. An RICS guidance note is a professional or personal standard for the purposes of RICS Rules of Conduct. Guidance notes constitute areas of professional, behavioural competence and/or good practice.
What is a Professional Statement, and do you have to comply with it?
RICS professional statements set out the requirements of practice for RICS members
and for firms that are regulated by RICS. A professional statement is a professional or
personal standard for the purposes of RICS Rules of Conduct.
Who regulates members of the RICS and ensures they comply with the rules?
The regulatory functions of RICS are delegated from RICS’ Governing Council to the independently led Standards and Regulation Board (SRB)
How are disciplinary matters dealt with by RICS?
Serious breach: investigated by RICS , Head of Regulation (authorised by the Standards and Regulation Board) will consider taking disciplinary action (or otherwise close the case).
For less serious cases, where Regulated Member admits allegations, Head of Regulation may impose (with agreement) a Regulatory Compliance Order (or Consent Order) to ensure future compliance with the standards. This may include a fine, caution or conditions on the membership of the Regulated Member.
Most Serious: Head of Regulation can refer a case to a Disciplinary Panel, drawn from the independent Regulatory Tribunal. The Disciplinary Panel will conduct a hearing to hear the evidence supporting the allegations and determine the outcome. The Disciplinary Panel may impose sanctions ranging from a fine to expulsion and can determine costs against Regulated Members.
What sanctions can the RICS impose
Caution – this is a warning against repeating the conduct or action which is found to have constituted the contravention of conduct expected of Regulated Members
Reprimand - this is another form of warning against repeating the conduct or action which is found to have constituted the contravention of Conduct expected of Regulated Members
Undertakings – one or more requirements imposed on Regulated Member in regards to future conduct
Fine – monetary penalty imposed in accordance with the RICS Sanctions Policy approved by SRB
Conditions – requiring Regulated Member to carry out or restrict activities within a set period which will be monitored by RICS
Expulsion (of individual Member) - removing the Regulated Member from RICS register
Removal (of a Firm’s registration) – removing the Regulated Firm from RICS register
What is CPD
Continuing Professional Development
What are the CPD requirements for a Member of RICS?
20 hours per year
10 hours must be formal
What qualifies as CPD?
Formal training courses, seminars and workshops are great examples of CPD, but we recognise that there are many other relevant methods of learning as well
What is considered formal CPD
If structured and holds a clear learning objective likely formal, RICS have provided helpful guide to confirm if informal or formal which will answer this question.
How would you describe conduct befitting a chartered surveyor
Professional conduct satisfying the RICS 5 Rules of COnduct
What are the professional standards of the RICS?
RICS professional standards are principles-based and focused on
outcomes and good practice. Any requirements included set a baseline
expectation for competent delivery or ethical behaviour.
What are the confidentiality requirements of the Rules of Conduct?
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.
Why do chartered surveyors have to carry PI insurance? Who does it protect?
- You provide advice and consultancy - Clients can claim compensation if there’s a mistake in the advice you’ve given
- You provide an expert service - In case you make a mistake in designs, plans or calculations
- You handle people’s information - You could face claims if you accidentally disclose data or infringe on a client’s legal rights
- A client insists you have it - Many clients will require that you have professional indemnity insurance in place before you can start working for them
- Your professional body requires it - You might belong to a professional body or industry association where professional indemnity insurance is compulsory
Explain ‘Claims made Basis’
An insurance policy issued on a claims made basis provides cover for any claims made against the policyholder during the period of insurance. That can include claims made against the policyholder even if the incident giving rise to the claim happened before the current policy start date.
What happens to PI when you retire
Also, because professional indemnity insurance is usually on what’s called a “claims made” basis, professionals who have retired should still have professional indemnity insurance, even though they are no longer working.
What were the implications of the Merrett v Babb case
“The decision in Merrett v Babb meant there was a real risk that professionals could be found personally liable even when they were acting on behalf of their employer. The Marshall case shifts the balance and greatly reduces the circumstances in which a claimant can pursue a professional personally for damages
Firms required to register with the RICS
3.1 A Firm is required to register for regulation by RICS if:
a the Firm provides surveying services to the public
b the Firm is operating in Regulated Area A
c at least 50% of the Firm’s Principals are RICS Members.
3.2 RICS Members who are also Principals of a Firm that is required to register under Rule 3 must take all reasonable steps within their power to ensure that an appropriate application
to register for regulation by RICS is made on behalf of the Firm.
What constitutes a complaint?
The definition of a complaint is any expression of dissatisfaction.
What are the key themes of the RICS Complaints Handling Procedure?
- Value of Terms of Engagement in reducing complaints.
- Complaint handling procedure.
- Understanding requirements of your PII
- Why clients complain
- Why clients complain
- underpinning good complaint handling
- Receiving a complaint - initial actions and responses.
- Evaluating a complaint
- Initial response
- Escalation
- Record Keeping
- Learning from experience
- Additional training
Minimum level of public indemnity
100K or less = £250k
100,001 - 200K = 500K
200,001 + = 1,000,000
In terms of the requirements of RICS, what do you have to do when setting up a new practice?
- Register with RICS
- PII and Employer’s Liability Insurance
- Register at Company’s House
What is the response period for a complaint?
When and what should you tell your PI insurers about a complaint?
Upon receiving a ‘preliminary notification’ the defendant should contract insurer immediately.
Do the RICS need to get involved with a complaint
How would you define ethical behaviour for a chartered surveyor?
Conduct in line with the Rules of Conduct
What is a conflict of interest?
A situation in which the duty of an RICS member or a regulated firm required to act in the interests of a client or other party in a professional assignment conflicts with a duty owed to another.
finish all ethics questions
