Ethics

Question 1

How many Professional Groups are there and how many of them can you join for the full membership fee?

Answer 1

18 Professional Bodies,
inc. Building Surveying, QS, PM, Valuation, Rural, Residential Property

Assumed you can join all?

Question 2

Who is the BCIS and what is its relationship to RICS

Answer 2

BCIS = Building Cost Information Service

Founded as part of RICS now a standalone company. Provider of cost and price information.

Question 3

What is the governing council and how is it elected

Answer 3

• 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).

Question 4

In broad terms what are the RICS Byelaws

Answer 4

Provide power for the Head of Regulation and Regulatory Tribunal to make disciplinary and regulatory decisions including issuing disciplinary penalties and costs.

Question 5

What is RICS Matrics and how does it create Social Value

Answer 5

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.

Question 6

What is Lionheart and how does it create social value

Answer 6

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.

Question 7

Current RICS president and how long do they serve?

Answer 7

Tina Paillet - 1 year

Question 8

Explain the relationship between the Privy council and the RICS

Answer 8

• 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

Question 9

What is the purpose of professional Groups

Answer 9

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

Question 10

Why do we have Guidance Notes, and do you have to follow them?

Answer 10

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.

Question 11

What is a Professional Statement, and do you have to comply with it?

Answer 11

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.

Question 12

Who regulates members of the RICS and ensures they comply with the rules?

Answer 12

The regulatory functions of RICS are delegated from RICS’ Governing Council to the independently led Standards and Regulation Board (SRB)

Question 13

How are disciplinary matters dealt with by RICS?

Answer 13

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.

Question 14

What sanctions can the RICS impose

Answer 14

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

Question 15

What is CPD

Answer 15

Continuing Professional Development

Question 16

What are the CPD requirements for a Member of RICS?

Answer 16

20 hours per year

10 hours must be formal

Question 17

What qualifies as CPD?

Answer 17

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

Question 18

What is considered formal CPD

Answer 18

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.

Question 19

How would you describe conduct befitting a chartered surveyor

Answer 19

Professional conduct satisfying the RICS 5 Rules of COnduct

Question 20

What are the professional standards of the RICS?

Answer 20

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.

Question 21

What are the confidentiality requirements of the Rules of Conduct?

Answer 21

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.

Question 22

Why do chartered surveyors have to carry PI insurance? Who does it protect?

Answer 22

• 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

Question 23

Explain ‘Claims made Basis’

Answer 23

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.

Question 24

What happens to PI when you retire

Answer 24

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.

Question 25

What were the implications of the Merrett v Babb case

Answer 25

“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

Question 26

Firms required to register with the RICS

Answer 26

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.

Question 27

What constitutes a complaint?

Answer 27

The definition of a complaint is any expression of dissatisfaction.

Question 28

What are the key themes of the RICS Complaints Handling Procedure?

Answer 28

1. Value of Terms of Engagement in reducing complaints.
2. Complaint handling procedure.
3. Understanding requirements of your PII
4. Why clients complain
5. Why clients complain
6. underpinning good complaint handling
7. Receiving a complaint - initial actions and responses.
8. Evaluating a complaint
9. Initial response
10. Escalation
11. Record Keeping
12. Learning from experience
13. Additional training

Question 29

Minimum level of public indemnity

Answer 29

100K or less = £250k
100,001 - 200K = 500K
200,001 + = 1,000,000

Question 30

In terms of the requirements of RICS, what do you have to do when setting up a new practice?

Answer 30

1. Register with RICS
2. PII and Employer’s Liability Insurance
3. Register at Company’s House

Question 31

What is the response period for a complaint?

Question 32

When and what should you tell your PI insurers about a complaint?

Answer 32

Upon receiving a ‘preliminary notification’ the defendant should contract insurer immediately.

Question 33

Do the RICS need to get involved with a complaint

Question 34

How would you define ethical behaviour for a chartered surveyor?

Answer 34

Conduct in line with the Rules of Conduct

Question 35

What is a conflict of interest?

Answer 35

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.

Question 36

finish all ethics questions