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RICS APC SEPT 25 (MG) > Ethics > Flashcards

Ethics Flashcards

1
Q

Why do you want to become a member of RICS?

A

I want to become a member of RCS because I want to have industry recognition, provide a gold standard of excellence and develop my career.

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2
Q

What is the role of RICS?

A

1) To maintain the highest standards of education and training. 2) To protect consumers through strict regulation of professional.
3) To be the leading source of information and independent advice on land, property, construction

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3
Q

MRIP

What are the key functions of the RICS

A

1) Maintain highest standards in professional competence
2) Regulate / promote the profession
3) Impartial advice and
protect customers

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4
Q

RKN

What are the benefits of being an RICS member?

A

1) Status - unrivalled client confidence
Recognition/Advantage - promotion of your professional excellence - RICS provides competitive advantage
2) Knowledge - international practice standards, professional guidance, CPD & knowledge sharing
Network - access to 130,000 qualified members worldwide

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5
Q

What is a Royal Charter

A

The Royal Charter allows the RICS to be self-governed. It maintains and promotes the usefulness of the profession for public advantage.

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6
Q

What do you understand by the term self-regulation?

A

RICS self-regulates, meaning that it operates within it’s own published regulatory framework, rather than being legislated by Government. RICS regulation is led by an independently-chaired Regulatory Board and regional sub-boards.

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7
Q

PACTT

Can you tell me what you understand by the principles of better regulation?

A

PACTT. 1. Proportionality - make the penalty proportional to the breach. 2. Accountability - Regulators must be able to explain their actions under public scrutiny. Promote complete fairness. 3. Consistency - treat everyone equally. 4. Targeting - focusing on serious breaches.
5. Transparency - Regulations are simple, clear and effectively communicated to all members, clients and public.

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8
Q

What is a Bye-Law? Give an example?

A

Enabling Principle ratified by the Privy Council

1) Application and definitions
2) Membership registration
3) Designations
4) Contribution to funds
5) Conduct
6) Governing council, officers and staff
7) Subordinate boards, committees and groups
8) Procedure for general meetings
9) Accounts and audits General

There are 10 e.g. Conduct - complying with regulation and rules.

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9
Q

Explain to me the new RICS Rules of Conduct - what do they replace?

A

The new Rules of Conduct is a single document which replaces the old Rules of Conduct for members, Rules of Conduct for firms and global ethical principles and has Appendix A

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10
Q

RICS Rules of Conduct: When do they take effect? Who do they relate to?

A

2 Febuary 2022

Members and firms (Per Bylaw 5.1)

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11
Q

What are the 5 Rules?

A

1.Members and firms must be honest, act with integrity and comply with their professional obligations, including obligations to RICS
2.Members and firms must maintain their professional competence and ensure that services are provided by competent individuals who have the necessary expertise.
3.Members and firms must provide good-quality and diligent service.
4.Members and firms must treat others with respect and encourage diversity and inclusion.
5.Members and firms must act in the public interest, take responsibility for their actions and act to prevent harm and maintain public confidence in the profession

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12
Q

RICS Rules of Conduct: Give an example behaviour for each?

A

Rule 1: a) Don’t mislead/take unfair advantage.
b) Make sure transparent regarding fees.
Rule 2: a) Complete CPD/Stay up to date with legislation.
b) undertake work which u are competent to do
Rule 3: a) U/S Clients needs/objectives prior to undertaking instruction.
b) Communicate with client in simple and easy to understand manner.
Rule 4: a) Respect other people
b) Work cooperatively with others
Rule 5: a) Manage professional finances responsibly
b) Don’t make statements which undermine the profession

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13
Q

What disciplinary procedures can the RICS impose and what circumstance can they be imposed?

When did RICS last update their disciplinary panel rules?

A

[ARA]
Action by Head of Regulation
Regulatory Tribunal
Appeal Panel

1st October 2019

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14
Q

Name the different types of RICS memberships?

A
  • FRICS
    • MRICS
    • AssocRICS
    • Trainee/Student
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15
Q

RICS CPD requirements?

A

20hrs per year (10hrs formal)
Or training is 48 with 50% formal

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16
Q

When was the RICS founded, what is its background?

A
  1. Founded in 1868
  2. RICS has a Royal Charter, initially granted by Privy Council in 1881
  3. RICS regulations and Byelaws set out governance of the Institution
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17
Q

What is the structure of the RICS?

A
  1. 4 National Associations
  2. 10 Regional Boards
  3. Local Associations
18
Q

Who is the RICS president?

A

Tina Paillet RICS

19
Q

What is the RICS motto

A

Est Modus in Rebus - there is a measure in all things

20
Q

SC-FUT

What was the rationale for the new ROC

A
  1. Simpler structure - easier to understand
  2. Clear examples - real life applications
  3. Focuses on respect, diversity and inclusion
  4. Understanding evolving technology
  5. Tackling global challenges - sustainability development
21
Q

HICSRR

What ethical principles are the ROC’s based upon?

A
  • Honesty
  • Integrity
  • Competence
  • Service
  • Respect
  • Responsibility
22
Q

What is the current governance structure of the RICS?

A

1) RICS is currently governed, under the terms of its Royal Charter, by various internal councils, boards and associations
2) The Governing Council has 28 members and runs the RICS, **providing management and strategic direction **
3) There are 17 specialist professional groups covering property, land and construction.

23
Q

Explain Appendix A of the ROC

A

Sets out professional obligations to be followed by members and regulated firms

Professional obligations for MEMBERS:
1. Comply with CPD requirements
2. Cooperate with RICS
3. Provide all information requested by the Standards & Regulations Board

Professional obligations for FIRMS:
1. Publish a complaints handling procedure
2. Ensure all previous & current professional work is covered by Professional Indemnity Insurance (PII)
3. Firms with a sole principal must make appropriate arrangements for their professional work to continue in the event of incapacity, death, absence or inability to work
4. Cooperate with RICS
5. Provide all information requested by the Standards & Regulations Board
6. Display on business literature that firm is regulated by the RICS
7. Report to RICS any matter that they are required to report under the Rules for the Registration of Firms.

24
Q

HIIO

What are the civil service values?

A

Civil Service Values
* INTEGRITY - putting obligations of public service above personal interests
○ Don’t accept gifts/handle information within the legal framework/act with professionalism
* HONESTY - being truthful and open
○ Set out facts honestly/don’t mislead parties/don’t be influenced by bribery
* OBJECTIVITY - basing advice and decision on rigorous analysis of the evidence
○ Don’t ignore inconvenient facts or relevant considerations when providing advice
* IMPARTIALITY - acting solely according to the merits of case
○ Carry out responsibilities fairly
Double check this as VOA values are slightly different

25
Q

what is an unconscious bias

A

Unconscious (or implicit) bias is a term that describes the associations we hold, outside our conscious awareness and control. Unconscious bias affects everyone.

26
Q

what is the purpose of the RICS ROC?

A

Sets standards of professional conduct/practice expected of members/firms

27
Q

Explain levels of disciplinary procedures which can be initiated?

[CDF]

A
  • Consent Order
    ○ Document with terms the member/firm must comply with
    • Disciplinary Panel
      ○ Hearing for allegations and serious breach
    • Fixed penalties
      For racial or sexual offence, dishonesty, misuse or large loss of clients’ money
28
Q

Describe how a disiplinary procedure can be triggered?

A

Complaining to the RICS

An allegation by a client or third party

Information received or established by RICS

29
Q

What is the RICS decision tree?

A

Provides framework of questions when members are unsure if their actions could potentially be unethical

ACT/RECORD/DO NOT PROCEED

1. Sufficient facts?
2. Is it legal?
3. In line with Rules of conduct?
4. Have you consulted with the appropriate people to make an informed decision?
5. Clear reasoning in reaching a decision?
6. Is your decision informed Would you be content if your actions were made public?
30
Q

What other standards are you aware of besides RICS ROC

A

VOA agency standards 2024

RICS COP Rating consultancy 2024

International ethical standards

31
Q

Is there any guidance for social media from the RICS?

A

RICS Regulation use of social media: guidance for RICS members V1 Jun 2021

The RICS is likely to investigate concerns about social media posts where they involve:
· Discrimination
· Dishonesty
· Abusive or threatening behaviour
· Bullying, harassment, or victimisation
· Ignoring previous advice or warnings about concerns
If the most may damage public confidence or trust in the profession, may take disciplinary action

32
Q

What is modern slavery and how would you identify red flags of it?

A

Modern slavery is situations of exploitation in which a person cannot leave because of threats, violence or abuse of power etc. A red flag would may be someone unwilling to interact with others.

33
Q

Focus on PGS x36 reccomendations

Explain what you understand by the RICS Bichard Review.

A

The RICS appointed Lord Bichard to lead an independent review into the RICS purpose, governance and strategy following the Levitt Review.

Undertaken in Jun 2022

x36 recommendations on clarification of purpose, strategy and structure.

34
Q

Explain what you understand by the Levitt Review 2021.

A

focused on treasury mishandling

35
Q

What are ethics?

A

Moral principles that govern an individuals behaviour.

36
Q

How do you ensure you operate inline with RICS guidance on the use of social media

A

Always use social media in professional and responsible manner and remain respectful.

37
Q

When would the RICS investigate a social media post?>

A

Discriminatory
Dishonest
Abusive etc

38
Q

What is your understanding of the RICS inclusive employer quality mark?

A

RICS is launching inclusive employer quality mark - IEQM. Designed to improve diversity etc.

Requires employers to pledge commitment to following 5 principles
1. Leadership and vision
2. Recruitment
3. Staff development/retention/engagement
4. Continuous improvement

Firms will require to assess their performance bi-annually and RICS will monitor trends…

39
Q

What is the RICS doing to improve Diversity and Inclusion?

A

RICS set up Diversity and Inclusion which is a knowledge hub to share ideas

Includes initiatives such as:
1. Celebrating women’s days
2. Pride 2023 LGBTQ+ Equality pledge
Mcgreggor smith review - aiming to develop black and ethnic minority within profession

40
Q

What are the Pros and cons of hybrid working?

A

Advantage
Improved balance worklife
less distraction
save commute cost
save office space
employee satisfaction

Disadvantage
lack of social connection
reduced collaboration
less recognition
less productivity

41
Q

Please explain your understanding of how the RICS define Professional standards vs Practise information?

A

Post Birchard review, professional guidance is now split into 2

Professional standards - mandatory professional requirements/expectations

Practise information - non mandatory supporting guidance

42
Q

What guidelines are relevant for using the RICS logo?

A

Rules of conduct for firms
guidelines for personal use of RICS logo

Font and colour must not be changed. Must be clearance size of capital R around logo..

RICS APC SEPT 25 (MG) (18 decks)

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