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RICS APC > Ethics > Flashcards

Ethics Flashcards

1
Q

What are the ethical principles

A

Honesty, integrity, Competence, Service, respect and responsibility

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2
Q

What is the RICS CPD policy for members

A

20 hours a hours
10 hours formal
10 hours informal
Need to be logged by 31 January

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3
Q

What insurance are requirements when starting your own business?

A
  • Employers Liability
  • Public Liability
  • Professional indemnity
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4
Q

What are the offences of the Bribery Act?

A
  • Accepting a bribe
  • Offering a bribe
  • Failure to prevent a bribe
  • Giving consent for a bribe
  • Bribing a public foreign official
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5
Q

When was RICS founded

A

1868

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6
Q

Who is the CEO of The RICS

A

Justin Young

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7
Q

When did the new rule of conduct come into place

A

2 Feburary 2022

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8
Q

What are the minimum level PI requirements

A

Up to £100k turnover - £250k
£100k - £200k turnover - £500k
Above £200k - £1m

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9
Q

Why did the RICS update new rules of conduct from the global professional and ethical standards

A

Now a single document providing greater clarity

Previous rules are outdated

RICS. Members and firm voted in the majority to update them

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10
Q

Why did you the RICS update new rules of conduct from the global professional and ethical standards

A

Now a single document providing greater clarity

Previous rules are outdated

RICS. Members and firm voted in the majority to update them

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11
Q

What is the maximum level of uninsured excess

A

Up to £10m - 2.5% of the policy sum or £10,000.

Above £10m - no fixed limit

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12
Q

What is bribery

A

The act of offering someone money or something valuable in order to persuade them to do something for you

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13
Q

How can a disciplinary proceeding be triggered?

A
  • Someone complaining to RICS
  • An allegation by client or third-party.
  • information received or established by the RICS.
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14
Q

What free actions can be imposed after the end of the investigation stage?

A
  • Fixed penalty
  • Consent order
  • Disciplinary panel
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15
Q

What are the RICS obligations for firms?

A
  1. Firms must publish a complaints-handling procedure,.
  2. Firms there is adequate PI insurance in place.
  3. Firms must cooperate with RICS.
  4. Firms must promptly provide all information reasonably requested by the Standards and
    Regulation Board, or those exercising delegated authority on its behalf.
  5. 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.
  6. Firms must report to RICS any matter that they are required to report under the Rules for the
    Registration of Firms.
  7. 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.
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16
Q

What is the difference between RICS ethics and rules?

A

Ethics are a set of moral values. Rules of conduct are framework that we work to.

17
Q

What is run off cover?

A

Insurance for claims made against a firm after it has stopped doing business

18
Q

What are the three types of conflict defining the RICS professional statement on conflict of interest?

A
  • Party conflict
  • Personal conflict
  • Confidential information
19
Q

What are the Five rules of conduct set by the RICS?

A
  1. Members and firms must be honest act with integrity and comply with their professional obligations.
  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 encouraged diversity and inclusion.
  5. Members and firms must act in public interest take responsibility for the actions act to prevent harm and maintain public confidence in the profession.
20
Q

Who is the president of the RICS

A

Tina Paillet

21
Q

What are the professional obligations for RICS members

A

1, Members must comply with the CPD requirements set by RICS.

  1. Members must cooperate with RICS.
  2. Members must promptly provide all information reasonably requested by the Standards and
    Regulation Board, or those exercising delegated authority on its behalf.

RICS APC (18 decks)

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