Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

MR - APC > Ethics > Flashcards

Ethics Flashcards

1
Q

What are the five Rules of Conduct?

A
  • Members and firms must be honest, act with integrity and comply with their professional obligations, including obligations to RICS.
  • Members and firms must maintain their professional competence and ensure that services are provided by competent individuals who have the necessary expertise.
  • Members and firms must provide good-quality and diligent service
  • Members and firms must treat others with respect and encourage diversity and inclusion.
  • 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
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Name some typical behaviours for each of the rules of conduct?

A
  1. Open and transparent about fees, keep client money safe and do not take unfair advantage of others
  2. Only undertake works that they and employees have the knowledge to carry out competently, check subcontractors are competent, reflect on lessons learnt
  3. Communicate with clients and others clearly, understand the risks and benefits of modern technology, agree the scope of service to be provided.
  4. Work cooperatively with others, not bully / victimise or harass anyone, to respect the rights of others and treat others with courtesy.
  5. Respond to complaints promptly and professionally, take appropriate actions if rules have been breached, manage their professional finances responsibly.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Give an example of a time you complied with a Rule of conduct

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Name the professional obligations for members?

A
  1. Members must comply with the CPD requirements set by the RICS which requires 20 hours of CPD for each calendar year, 10 hours of which must be formal CPD.
  2. Members must cooperate with RICS.
  3. Members must promptly provide all information reasonably requested by the Standards and Regulation Board, or those exercising delegated authority on its behalf.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

What do you need to do when starting up your own firm?

A

Assign a RICS member as a principal, adequate PII, CHP, training and development programme for employees to undertake CPD, locum agreement.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Name some RICS policy documents

A

Rules of Conduct, Professional Indemnity Insurance Requirements, Regulations, Rules for Registration of Firms, Use of Firm Designations.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What do the RICS regulations cover?

A

definitions, membership and registration, designations, contributions to funds, conduct, governing council officers and staff, subordinate boards committees and groups, procedure for general meetings and voting, accounts and audit, general.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

What is the RICS CPD policy? What is required in regards to ethics?

A

RICS members minimum of 20 hours CPD with 10 hours formal and undertake learning in relation to ethical standards once every three years.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What is RICS Lionheart and Matrix?

A

Lionheart - confidential support and therapists in difficult times.
Matrix - network to support younger members.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What are terms of engagement?

A

The written terms of agreement between the client and the Company for a contract.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

What is adequate PI cover? Where would you find guidance for this?

A

RICS Professional Indemnity Insurance Requirements 2022

Firms’ turnover in preceding year (or estimated if new) vs minimum level of indemnity
£100,000 or less - £250,000
£100,001 to £200,000 - £500,000
£200,001 and above - £1,000,000

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

How do you distinguish between professional statements, code of practice document and guidance notes?

A

Professional statement - A document that provides members with mandatory requirements
Guidance note - A document that provides users with recommendations for professional advice and areas of good practice
Code of Practice - developed in collaboration with other professional bodies / stakeholders.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Provide different examples of professional statements and guidance notes?

A

Professional statements - RICS Conflict of Interest 1st Ed 2017, RICS Property Measurement 2nd Ed 2018, RICS Countering Bribery and Corruption, Money Laundering and Terrorist Financing 1st Ed 2019, RICS Home Survey Standard 1st Ed 2019, RICS Rules of Conduct October 2021 effective February 2022.

Guidance Notes - RICS Contract Administration Guidance Note 1st Ed 2011, RICS Conflict Avoidance and Dispute Resolution in Construction Guidance Note 1st Ed 2012, RICS Party Wall Legislation and Procedure 7th Ed 2019, RICS Code of Measuring Practise 6th Ed 2015, RICS Surveying Safely 2nd Ed 2018

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What is involved in a conflict check email?

A
  • States the property, service being provided and client.
  • Requests that if anyone is bidding or working with the client or properties to make the sender aware before a specified date.
  • Also system search undertaken at same time.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Is there anything that your PI Insurance doesn’t let you advise on?

A

Anything outside Building Surveying expertise.

  • VAT
  • Bespoke contract production
  • Fire stopping specification
  • Re-cladding specification
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

For the Party Wall Award complaint, why did you not use your complaints handling procedure?

A

Informal complaint, individual just wanted to award issued, I could therefore deal with it and engage the procedure if they are still unhappy.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

What is your companys complaints handling procedure?

A

complaint investigator to contact within 14 days to request further information, within 21 days of receipt of information investigator to confirm outcome, dissatisfied write to investigator and still dissatisfied redress scheme (DRS).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Give an example of a time when you dealt with a complaint? How did you resolve the complaint?

A

Complaint about party wall timing - resolved through communication and interpersonal skills

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

How did you ensure you had no involvement in your parent’s party wall project?

A
  • I had no further involvement.
  • A communication barrier was set up to prevent me from accessing the project.
  • I did not communicate to anyone about the project.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

In your ethics section, why could you not accept the gift from the contractor? What documents did you review to confirm this?

A
  • They were tendering for a project.
  • It was a few bottles of wine.
  • I reviewed the ethical decision tree and did not want to be influenced in any way.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

Give an example of a particularly interesting CPD you attended?

A
  • Automist CPD
  • Asbestos CPD
  • Party wall podcast
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

What does a sole practitioner need to have in place as a precaution? What does the agreement include?

A

Locum Agreement with third party in case the sole practitioner cannot act. It should include the terms and conditions, arrangement of when to act, resource schedule, passwords and required details.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

What is the purpose of ethical standards?

A
  • Regulates RICS members and firms.
  • Promotes trust in RICS.
  • Give justifiable reason as to why members may not be able to act in a certain way.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

Name some key guidance notes for Building Surveyors?

A
  • Surveying Safely 2nd Ed 2018
  • Party Wall Legislation and Procedure 7th Ed 2022
  • Tendering Strategies 1st Ed 2014
  • Conflict Avoidance and Dispute Resolution in Construction 1st Ed 2012
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

What is a conflict of interest? What are the different types?

A

Conflict of interest impacts the ability of a member to act impartially and in the impacts of the client.
Own interest conflict, party conflict, confidential information conflict.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

What is informed consent? What information should be provided when gaining informed consent?

A

permission given willingly by a party who may be affected by a Conflict of Interest.

  • That there is a Conflict of Interest or a significant risk of a Conflict of Interest
  • the facts known by the RICS member or the regulated firm that are material to the Conflict of Interest
  • what that Conflict of Interest is or may be
  • that a Conflict of Interest may affect the ability of the RICS member or firm to advise or act fully in the interests of a client.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

Name a recent RICS article you have read? What did you learn?

A

RICS article on MEES applying to all commercial leases and at rating of C being required 2025. Only applies to England and Wales. Expect further case law on whether landlord or tenant is responsible if tenant has not maintained the property to achieve a good EPC rating.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
28
Q

What is PI insurance? Why is it required?

A

PI insurance covers the cost of compensating clients for loss or damage resulting from negligent services or advice provided by a business or an individual.

It protects RICS members against claims and can compensate clients in case of negligence.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
29
Q

What is the client money protection scheme?

A

This scheme provides protection, as a last resort, in the unlikely event that the Firm is unable to repay a client’s money, up to the limits and exceptions set out in the scheme rules.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
30
Q

What are the requirements of the client money protection scheme?

A
  • Ensure the RICS annual fee is paid for the scheme
  • Ensure it is held in a designated account and the client is aware of the details
  • Ensure that the client can access the account
  • Ensure that cash books and client ledgers are being undertaken
  • Ensure the account is not overdrawn
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
31
Q

Do you deal with client money? Why do you not?

A

No, my company policy is not to deal with client money, I am not covered under PII.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
32
Q

Give an example of a time you refused tasks beyond your capabilities?

A
  • Complex dwgs
  • VAT
  • Specifying fire stopping installations
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
33
Q

Would you attend a football match if the client invited you?

A

Politely decline

Consult ethical decision tree and if it will not influence my decision making then accept and pay for own costs.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
34
Q

What are the requirements stated in the RICS PII requirements document?

A

Minimum level of indemnity based on firm’s turnover, and maximum uninsured excess based on indemnity level, PII policies work on a claims made basis and each and every claim basis and minimum six years run off cover.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
35
Q

What is formal and what is informal cpd?

A

Formal - structured learning with clear outcomes. Informal - self directed learning

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
36
Q

What is the definition of ethics?

A

Moral principles that govern the conducting of an activity

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
37
Q

How is RICS governed? How are breaches dealt with?

A

It is a self-governed membership based upon the RICS Rules of Conduct.
Breaches could lead to self correction, fixed penalty, consent order, disciplinary panel and deregistration.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
38
Q

What is the Annual Return?

A

Documents to be submitted yearly to RICS, include nature of firm’s work, services provided, office locations, principal employee details, contact officers, insolvency details, insurance records, CHP, hold client money.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
39
Q

What RICS guidance should a firm refer to when registering with RICS? What does this document include?

A

Rules for the Registration of Firms.
Communication, firm required to register, registration procedure, responsible principal required, obligations of registration including compliance with rules, notify of insolvency / material change etc, deregistration, review and appeal, fees.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
40
Q

When are firms required to register with RICS? When are firms eligible to register with RICS?

A

firms required to register if providing surveying services to public and 50% of firm’s principals are RICS.
Eligible if providing surveying services to public and 25% of firm’s principals are members.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
41
Q

What RICS documents advise on money laundering? What are the key requirements on money laundering?

A

RICS Countering Bribery and Corruption, Money Laundering and Terrorist Financing Update Practice Statement
1. Know the client procedures and verify client 2. maintain thorough checks for existing clients 3. review staff responsibilities and training 4. review procedures and record keeping.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
42
Q

What legislation prevents bribery?

A

Bribery Act 2010

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
43
Q

What legislation prevents money laundering and terrorist financing?

A

the money laundering and terrorist financing amendment regulations 2022

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
44
Q

What is the rics conflict of interest advise document and date / edition?

A

RICS Conflict of Interest Professional Statement 2017 1st Ed. Effective January 2018.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
45
Q

What steps should be taken if there’s a conflict of interest?

A
  • Notify the parties
  • Gain informed consent or withdraw if necessary
  • Ensure an information barrier if necessary
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
46
Q

Define what a bribe is?

A

To persuade someone to act in your favour by a gift or money.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
47
Q

What should you do if someone tries to bribe you?

A

Decline and report to line manager / local authorities.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
48
Q

Who is president and CEO of RICS?

A

President - Ann Gray. CEO - Richard Collins

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
49
Q

What is the structure of RICS?

A

Privy council, governing council, standards and regulations board, management board, audit risk assurance and finance committee, nominations and remuneration committee.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
50
Q

What is Professional Indemnity Insurance?

A

Protects you against claims of loss or damage made by clients as a result of the impact of negligent services you provided.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
51
Q

What are the procedures for setting up a RICS practice?

A

Contact the RICS for guidance and obtain a company start up pack.
Inform the RICS and register for regulation.
Appoint a contact officer for all RICS communication.
Prepare a complaints handling procedure.
Obtain Professional indemnity insurance cover.
Abide by the Rules of Conduct for Firms.
Use the designation ‘Regulated by RICS’ on all practice material.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
52
Q

What insurances are required for a RICS practice?

A

Professional Indemnity Insurance.
Employer’s Liability.
Public Liability.
Building insurance of an office premises.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
53
Q

How do you complete the RICS annual return? What happens if you fail to do this?

A

Carried out on-line.
Failure to do so leads to a fixed penalty.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
54
Q

What does the RICS annual return require firms to submit?

A

Type of business and staffing.

Nature of clients.

Training provision.

Complaints handling procedures details and records.

PI insurance details.

Whether the firm holds clients’ money.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
55
Q

Why did the previous global professional and ethical standards change?

A

The previous rules had been in place since 2007.

Following research and consultation with RICS Members, Firms and Members of the public, the majority voted in favour of replacing the existing Rules of Conduct and separate Global Professional and Ethical Standards.

This was to provide a single document to enable greater clarity for RICS members and firms.

I also understand there is now a greater focus on clearer example behaviours, understanding evolving technology and tackling climate change.

56
Q

Name the professional obligations for firms?

A

Firms must public a complaints handling procedure, which includes an alternative dispute resolution provider approved by RICS, and maintain a complaints log.
Firms must ensure that all previous and current professional work is covered by adequate and appropriate professional indemnity cover that meets the standards approved by RICS.
Firms with a sole principal must make appropriate arrangements for their professional work to continue in the event of their incapacity, death, absence from or inability to work.
Firms must cooperate with RICS.
Firms must promptly provide all information reasonably requested by the Standards and Regulation Board, or those exercising delegated authority on its behalf.
Firms must display on their business literature, in accordance with RICS’ published policy on designations, a designation to denote that they are regulated by RICS.
Firms must report to RICS any matter that they are required to report under the Rules for the Registration of Firms.

57
Q

Name the professional obligations for firms?

A

Firms must publish a complaints handling procedure, which includes an alternative dispute resolution provider approved by RICS, and maintain a complaints log.
Firms must ensure that all previous and current professional work is covered by adequate and appropriate professional indemnity cover that meets the standards approved by RICS.
Firms with a sole principal must make appropriate arrangements for their professional work to continue in the event of their incapacity, death, absence from or inability to work.
Firms must cooperate with RICS.
Firms must promptly provide all information reasonably requested by the Standards and Regulation Board, or those exercising delegated authority on its behalf.
Firms must display on their business literature, in accordance with RICS’ published policy on designations, a designation to denote that they are regulated by RICS.
Firms must report to RICS any matter that they are required to report under the Rules for the Registration of Firms.

58
Q

What is the purpose of undertaking and recording CPD? What are the CPD requirements for a RICS member?

A

Members must undertake and record appropriate lifelong learning.

On request by the RICS they must provide evidence that they have carried out the CPD to maintain and improve their levels of professional competence.

A minimum of 20 hours CPD must be achieved per calendar year, of which a minimum 10 hours must be formal.

Members must undertake learning on the standards expected around RICS Ethics on a rolling 3-year period.

59
Q

When was RICS founded?

A

1868

60
Q

What is RICS motto?

A

RICS MOTO - ‘Est Modus in Rebus’ which in Latin translates to ‘There is measure in all things’.

61
Q

What is the purpose of the Royal Charter?

A

The royal charter requires RICS to “promote the usefulness of the profession for the public advantage in the UK and in other parts of the world.”

62
Q

What is the mission statement of the RICS?

A

To qualify and equip their members to offer the highest standards of professional service.

To promote and enforce standards

Lead solutions to the major challenges facing the built environment through professional expertise in the publics interest.

63
Q

How is RICS regulated?

A

RICS is self-regulated and internally monitored meaning that it is not regulated by the Government or external parties.
The Bye-Laws determine how the RICS is regulated.

64
Q

Who manage and set the strategy for RICS?

A

The Governing council manage and agree the strategy for the RICS.
The Regulatory board, audit committee and management board are beneath the governing council and execute the strategy set by them.

65
Q

What is the Client Money Protection Scheme and how is it provided?

A

This is a money protection scheme operated by the RICS.

It contains provision for any member of the public to be reimbursed their direct loss of funds when using an RICS regulated firm.

This is provided through an RICS insurance policy.

66
Q

What actions should a firm take that operate a client account?

A

Set clear segregation of duties for employees.
A Principal oversees the client money accounting functions.
Principles cannot override controls.
Competent and knowledgeable staff are to process clients’ money with cover provided for long term absence.
Accounting systems and data must be secure.
Client money must be kept separate and clearly identifiable with the word ‘client’ included in the bank account name.
Clients must always have access to funds.
We must agree the terms and advise the client on bank details.
The account must not be overdrawn.
We must maintain client ledgers and provide a running balance.

67
Q

What requirements do RICS set for complaint handling?

A

The RICS provides a model form.

The process must include a redress mechanism.

Details of the policy should be issued to the client with the Terms of Business.

It must be clear, quick, transparent and impartial and free of charge within the first stage.

Names and contact details of the nominated investigating person must be stated.

The complaint must be investigated within 28 days.

All complaints, their progress and outcomes must be recorded.

We must note the need to advise PI insurers of a complaint immediately.

The process must have two stages as a minimum: 1. consideration of the complaint by a senior member of the firm or complaint handling officer. 2. If the issue is not resolved, the complaint is referred to an independent third party with the authority to award redress. The complainant may be expected to contribute to costs at this stages.

68
Q

What is the maximum uninsured excess?

A

INDEMNITY UPTO £500K = THE GREATER OF 2.5% OF INSURED SUM OR £10,000

INDEMNITY OVER £500K = 2.5% OF INSURED SUM

69
Q

What are the minimum levels of indemnity?

A

FIRMS TURNOVER = £100K OR LESS = £250K

FIRMS TURNOVER = £100K - £200K = £500K

FIRSM TURNOVER = £200K + = £1M

70
Q

What are the PII requirements?

A

The policy cover must be made on an ‘each and every’ claim basis.

The RICS sets out the minimum levels of indemnity.

The RICS sets out the maximum levels of uninsured excess.

The policy should include cover for past and present employees, directors and partners.

71
Q

What is a claims made basis?

A

The insurance policy that is in place at the time the breach is discovered is responsible for providing the indemnity, not the insurance policy in place when the breach was made.

72
Q

What are the limitation periods for PII?

A

6 years when executed under hand.

12 years when executed as a deed.

73
Q

What is the purpose of PII?

A

To provide financial cover in the event a client suffers financial loss as a result of a breach of professional duty e.g. neglect, errors or omissions.

74
Q

What happened during the Merrit vs Babb case law?

A

Case dates back to 2001 and highlights the importance of having run-off cover in place.
A surveyor was sued for negligence by a former client.
Surveying firm was no longer in existence therefore the individual surveyor was pursued for damages successfully.
Caused a big shock in the industry and highlighted the need to ensure that run-off cover is in place for all previous employees.

75
Q

Can you identify the case law showing the need for run off cover?

A

Merrit vs Babb case law.

76
Q

What is a locum agreement? What is included in a locum agreement?

A

A locum is effectively another professional who is appointed to ‘stand in’ for the surveyor if they are unable to work.

A locum agreement consists of the terms and conditions, a work schedule and any other information they will be required to know.

77
Q

How can you tell if there is an individual classed as a modern slave working on a construction site?

A
  • They seem malnourished and tired
  • If from overseas, they don’t speak much English
  • They wear unsuitable clothes for the work, or for the weather
  • They appear to be under the control of someone else and reluctant to interact with others
  • They are reluctant to make eye contact or talk to people
  • They work excessively long hours and seldom, if ever, have days off
  • They appear fearful, uneasy, or anxious and distrustful of authorities
  • They have untreated injuries
  • They allow others to answer questions put to them
  • They are confined to their workplace and there may be signs that they also sleep there
78
Q

What is your company’s professional indemnity insurance?

A

£10 million

79
Q

What is professional indemnity insurance based on?

A

A company’s turnover

80
Q

How many professional obligations are there for firms? How many for members?

A

7 for firms and 3 for members.

81
Q

Name some of the requirements included within the Rules of the RICS Logo and Designation by Firms?

A
  • comply with the Standards and Regulation Board’s Policy Statement and RICS branding guidelines for Members and Registered Firms as set out in Appendix A.
  • comply with the Rules of Conduct, Rules for the Registration of Firms and these Rules.
  • act in accordance with the obligations set out in RICS’ Royal Charter and Bye-Laws
  • not alter the RICS logo or RICS Registered Firm designation without permission
  • not use the RICS logo in a manner that could have an adverse impact upon its status as a registered trademark
  • not use the logo or designation(s) in a manner that could bring the profession into disrepute and
  • not use the chartered surveyor designation in a manner that could have an adverse impact on its status as a registered trademark.
82
Q

What is meant by the RICS logo?

A

‘RICS logo’ means each of the RICS lion’s head and letters, which are each a registered trademark.

83
Q

Please define the three conflicts of interest that could be present?

A
  • A party conflict - where the duty of an RICS member to act in the interests of a client or other party in a professional assignment conflicts with a duty owed to another client or party in relation to another professional assignment.
  • Own interest conflict - where the duty of an RICS member or a regulated firm to act in the interests of a client in a professional assignment conflicts with the interests of that same RICS member/ firm.
  • Confidential information conflict - A conflict between the duty of an RICS member to provide material information to one client, and the duty of that RICS member to another client to keep that same information confidential.
84
Q

Where can you find an example form for obtaining informed consent?

A

Appendix A of the RICS Conflict of Interest guidance

85
Q

What made you determine the complaint made for the party wall award was informal?

A

I deemed it a soft complaint, the party confirmed that they just wanted to let someone at the company know, did not want it to go through the formal processes and wanted it resolved as soon as possible.

86
Q

Provide an example of a time there was a conflict of interest? How did you deal with this?

A
  • There was a conflict of interest when my parents wanted someone from my company to undertake adjoining owners surveyor services.
  • I notified my company who then made the building owner aware of the specific details, they confirmed it was acceptable and I had no further involvement.
  • An information barrier was set up where I could not access the project on the system and I could not discuss the project with colleagues.
87
Q

Who would step in if there is a locum agreement?

A

Another RICS surveyor.

88
Q

What would you do if the fee was underpriced for the work provided?

A
  • I would determine why this had occurred.
  • I would ensure the fee was honoured.
  • I would not change my scope of service
  • I would request extra fees only if the scope had changed.
89
Q

What legislation prevents you from taking money to presuade your decision?

A

Bribery Act 2010

90
Q

How long should it take you to acknowledge and log a complaint?

A

48 hours

91
Q

What do you use to organise your CPD?

A

Spreadsheet and identify any skills gaps I need to concentrate on.

92
Q

How is an hourly rate calculated?

A

Takes into account salary, bonus, holiday, overheads, tax.

93
Q

How do you know when you should have been paid by a client?

A

States when fee should be paid within the appointment

94
Q

What is included in the RICS Conflict of Interest Professional Statement?

A

The statement includes commentary on:
- Conflict of interest types
- Confidential information
- Firm controls
- Record keeping
- Informed consent

95
Q

What is your company’s hospitality policy?

A

To consider the timing, type and nature of gift when determining whether to accept. To check with a line manager before accepting a gift and logging it on the company gifts register.

96
Q

What is Professional Indemnity Insurance?

A

Protects you against claims for damage made by parties as a result of the impact of negligent services provided.

97
Q

What does the RICS stand for?

A

Royal Institution of Chartered Surveyors

98
Q

What do you mean by the RICS Regulations? What is included in this?

A

1 - Definitions
2 - Membership and Registration
3 - Designations
4 - Contributions to funds
5 - Conduct
6 - Governing council, officers and staff
7 - Subordinate boards, committees and groups
8 - Procedure for General Meetings and Voting
9 - Accounts and Audit
10 - General

99
Q

Why do you want to join the RICS?

A
  • Increased recognition
  • Join a well known establishment
  • Possibility to start up own firm in future
  • Increased support
  • Global thinktank in the profession
100
Q

Why does your company’s CHP differ to the RICS model CHP?

A

My company’s CHP notes an investigation and response within 21 days whereas the requirement for RICS is 28 days.

101
Q

What is the RICS Business Plan? What are the five key objectives within the plan?

A

1 Trusted by our stakeholders and society - We aim to improve stakeholder trust and confidence in RICS.
2 RICS qualifications in demand - Our primary goal is to ensure RICS qualifications remain relevant for the next, more diverse generations and that increased numbers of members use RICS to meet their knowledge and/or training needs.
3 Influential thought leader - We wish to be the profession’s leadership voice on sustainability, data and technology, and diversity and inclusion.
4 Involved and engaged members - We want to increase member participation in our communities and increase engagement beyond renewal of professional subscription fees.
5 Sustainable 21st century professional body - We aim to improve our financial sustainability and enhance the transparency of our governance, while improving the overall satisfaction of members and the engagement of our people.

102
Q

What should you do to close down a business?

A

Inform RICS
Inform clients and handover
Return money held
Inform insurers and run off cover

103
Q

What should you do to close down a business?

A

Inform RICS
Inform clients and handover
Return money held
Inform insurers and run off cover

104
Q

In what situations would you decline work for a client?

A
  • If the company was too stretched for resource to provide a good service.
  • If I and others did not have the experience for the task
  • If I would not be covered by PII.
  • Conflict of interest.
105
Q

What are RICS information papers?

A

Information papers are intended to provide information and explanation to RICS members on specific topics of relevance to the profession. The function of this paper is not to recommend or advise on professional procedure to be followed by members.

106
Q

What is the Companies Act 2006?

A

The main piece of legislation which governs company law in the UK. This includes general guidance on accountancy obligations and details of accounts that companies must return annually.

107
Q

In case of a breach of a rule of conduct what is the procedure?

A
  • Not every shortcoming will necessarily give rise to proceedings
  • A formal investigation by the Head of Regulation of the RICS is the first step in the
    process
  • The RICS can request information and/or visit and inspect to investigate compliance
  • Members must cooperate fully with all enquiries
108
Q

What are the requirements under the money laundering regulations?

A
  • Customer due diligence
  • Keep records
  • Internal procedures to identify
  • Report suspicious activity
  • Report to nominated money laundering reporting officer or serious organised crime agency.
  • Train employees
  • Register with HMRC if make cash payments over £10,000
109
Q

What is the proceeds of crime act 2000 and the terrorism act 2000?

A

Proceeds of crime: Applies to everyone & facilitates Money Laundering Regulations making it illegal to
be involved in concealing or transferring criminal property.
Terrorism Act 2000: Makes it an offence if you have reasonable cause to suspect to be involved in
financial activity involved in financing terrorism

110
Q

Describe the types of client money account?

A

General - holds money for more than one client.
Discrete - Single named client.

111
Q

What are the contractual limitation periods?

A
  • 6 or 12 years contractually.
112
Q

What happens if the loss exceeds the cover provided by the PI insurance.

A

The firm is liable for the difference.

113
Q

What measures should be taken to try and avoid PI claims?

A
  • Keep full and detailed records of meetings, conversations etc
  • Record recommendations and advice given
  • Use proper letters of engagement, scope of services and terms of engagement
  • Don’t advise on a specialism outside your field of experience
  • Use RICS guidelines
  • Avoid poor management and excessive workloads
114
Q

What is a limit of liability?

A

Its used to place a cap on the level of exposure a business signs up
to.

115
Q

What is a net contributions clause?

A

They seek to ensure the consultant’s liability is only for the loss they cause.

116
Q

If a client was prepared to pay you in advance for services you were
providing, how would you ensure this was dealt with?

A
  • Set up a separate client account that is properly named and clearly identifiable.
  • Provide the client with a statement of account.
  • Inform and agree drawdowns.
  • Prior to drawing monies send a statement of how much is to be withdrawn and what services and associated fees are made up of, send updated statements of account
  • Once complete, show a final statement, ensure everything is complete and transparent.
117
Q

The employer likes your fee, and says he has two other projects with
fees from Chartered QS’s that are lower than yours, if you knock a bit
off, they’re both yours – what do you do?

A
  • I explain him that it is against the ethical principles of competition.
  • Possibly considered a bribe.
  • Want to ensure good service so the correct fee should be paid.
118
Q

If you make cash payments over the value of £10,000 what should you do?

A

Register with HMRC

119
Q

What is included in Appendix A of the Rules of Conduct?

A

Professional Obligations

120
Q

When should a firm join the RICS?

A

The company provide surveying services in the UK and 50% of principles are RICS accredited.

121
Q

What is the role of the RICS?

A

A globally recognised professional body that promotes and enforces the highest professional standards in construction and infrastructure. RICS provides a foundation for confident markets, pioneers better places to live and work and is a force for positive social impact.

122
Q

Under the Bribery Act, when may it be acceptable to offer or accept a bribe?

A

If there is a threat to protect life, limb or liberty or a party is under duress.

123
Q

What are the six principles of the bribery act?

A

Proportionality; Top-Level Commitment; Risk Assessment; Due Diligence; Communication; and Monitoring and Review.

124
Q

What would happen if you were holding client money, but couldn’t identify who the client was?

A

Donate it to RICS Lionheart charity and they give a receipt and if client comes forward they can reimburse.

125
Q

What were the recommendations within the Levitt report?

A

18 recommendations relating to governing council and management board structure and sharing of information, review of bonus structure, whistleblowing structure overhaul, communication, etc.

126
Q

How many RICS professional groups are there?

A

18 groups.

127
Q

What are the five principles of better regulation?

A

transparency.
consistency.
proportionality.
targeting.
accountability.

128
Q

Why is there a solid wall depicted in your case study documents?

A
  • Its not a solid wall, the case study key issue one station is not the same as the building depicted on the cover.
129
Q

What factors do you need to consider before agreeing to an appointment?

A
  • Conflict of interest check.
  • PI insurance.
  • Whether you have the experience for the task.
130
Q

What are the three conflicts of interest?

A
  • Own interest conflict
  • Party conflict
  • Confidential information conflict
131
Q

What is the RICS Redress Scheme within your complaints handling procedure?

A

The appointed ADR mechanism.

132
Q

Name some hot topics at the moment? How will these affect you as a Building Surveyor?

A
  • Building Safety Act, Fire Safety Act, GDPR, Environmental Act, MEES.
  • I will have to comply with the legislation, it will positively impact society, I should start advising clients on their responsibilities relating to the legislation.
133
Q

What is artificial intelligence? How will it impact you as a Building Surveyor?

A
  • It is the simulation of human intelligence processes by machines and computer systems, e.g. a system that analyses data on energy efficiency.
  • Important to ensure that I can keep up to date with the technology and encourage its use whilst having a focus on the importance of human input.
134
Q

How would you gain informed consent?

A

Issue an informed consent form (appendix A of the Conflict of Interest professional statement)

135
Q

How do you gain feedback from a client? What would you do if you received negative feedback?

A
  • Issue forms to clients and use KPIs to determine success.
  • For negative feedback I would review areas where improvement is required, target gaps in knowledge through CPD, review methods of improvement with my employer.
136
Q

What negotiation strategies / styles are there?

A

Compete (I Win - You Lose)
Accommodate (I Lose – You Win)
Avoid (I Lose – You Lose)
Compromise (I Lose / Win Some – You Lose / Win Some)
Collaborate (I Win – You Win)

MR - APC (24 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions