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PK APC 2024 > Ethics > Flashcards

Ethics Flashcards

1
Q

Why did the rules change?

A

They had been in place since 2007, Members voted to create one single document, with a focus on technology and tackling climate change.

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2
Q

What are the steps of the ethics tree?

A
  • do you have sufficient facts?
  • is it legal?
  • does it comply with the rules of conduct?
  • have you consulter the appropriate
    individuals?
  • Do you have clear reasoning?
  • would you be content for your actions to be
    made public?
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3
Q

What if rule 5 of the new rules of conduct?

A

Members of firms must act in the public interest and take responsibility for their actions. They must act to prevent harm and maintain public confidence in the profession.

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4
Q

What are the five principles for better regulation?

A

PACTT
Proportionality
Accountability
Consistency
Targeting
Transparency

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5
Q

Why does the RICS have rules of conduct?

A

To provide a framework we can all work to and so your client knows they are a set level of service.
The rules of conduct are also a useful professional guide for individual institution members.

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6
Q

When did the rules of conduct change?

A

2nd February 2022

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7
Q

In the 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
    regulations
  • RICS can request information and investigate compliance
  • members must fully cooperate with any enquiries
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8
Q

How can a disciplinary proceeding be triggered?

A
  • Someone complaining to the RICS
  • An allegation by client or third party
  • Information received or established by the RICS
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9
Q

What are the three actions that can be imposed after the investigation stage?

A
  • Fixed penalty
  • Consent order
  • Disciplinary panel
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10
Q

What is the Mission Statement of the RICS?

A
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11
Q

How many qualified members does the RICS currently have?

A

Over 130,000

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12
Q

How is the RICS structured?

A

Privy council - award grants and royal charter
Governing council - provides management and strategic decision making
The Regulatory Board, Management Board and other various committees report to the GC

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13
Q

How many members does the Governing Council have?

A

25

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14
Q

What are the 4 levels of RICS membership?

A
  1. FRICS
  2. MRICS
  3. AccocRICS
  4. Trainee/Student
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15
Q

What are fixed penalties?

A

A fine set and determined by the RICS

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16
Q

What are the professional obligations of firms?

A
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17
Q

What are consent orders?

A

A written agreement between the RICS and a member containing corrective actions and restrictions from taking certain actions

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18
Q

When is disciplinary panel applicably?

A

For more serious breeches of conduct, usually held in public, a balance of probabilities is used

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19
Q

What breeches would expulsion be suitable for?

A

Persistent failure to comply with the RICS rules of conduct
Dishonesty
Conviction of a serious criminal offence etc.

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20
Q

What procedures should you follow if starting up a new practise?

A
  1. Contact RICS and register for regulation
  2. Appoint a contact office for all RICS comms.
  3. Prepare a complaints handling procedure
  4. Obtain professional indemnity insurance
  5. Use ‘regulated by RICS’ on all material
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21
Q

What is the RICS motto and what does it mean?

A

‘Est Modus in Rebus’ (there is measure in all things)

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22
Q

When was the RICS founded?

A

1868

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23
Q

What is rule 1 of the new rules of conduct?

A

Honesty & Integrity

Members and firms are to be honest and act with integrity, and comply with their professional obligations, including obligations to the RICS

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24
Q

What is rule 2 of the new rules of conduct?

A

Professional Competence

Members and firms are to maintain their professional competence and ensure that services are provided by competent individuals with relevant knowledge and experience

25
Q

What is rule 3 of the new rules of conduct?

A

Quality & Diligent Service

Members and firms must provide a good quality and diligent service

26
Q

What is rule 4 of the new rules of conduct?

A

Respect

embers and firms must treat others with respect and encourage diversity and inclusion

27
Q

Who is the chair of the RICS?

A

Martin Samworth

28
Q

Who is the president of the RICS?

A

Tina Paillet FRICS

29
Q

Who is the RICS president elect?

A

Justin Sullivan FRICS

30
Q

Who is the senior vice president of the RICS?

A

Nicholas Maclean FRICS

31
Q

Can you advertise a new company in the press?

A

Yes, but in a responsible manner

32
Q

What insurance is required to set up your own firm?

A
  • Professional Indemnity (PPI)
  • Employers Liability (ELI)
  • Public Liability (PLI)
  • Buildings Insurance (office premises)
33
Q

What information do registered firms have to send to the RICS annually?

A
  • type of business and staff levels
  • nature of clients
  • training provisions
  • complaints handling procedure
  • PI insurance details
  • does the firm hold clients money?
34
Q

What is a royal charter?

A

A Royal Charter is an instrument of incorporation, granted by the King, which confers independent legal personality on an organisation and defines its objectives, constitution and powers to govern its own affairs

35
Q

What do RICS regulations and bylaws set out?

A

Governance of the institution

36
Q

What do you need in order to become a fellow of the RICS?

A

Evidence of achievement of four fellowship characteristics, as per the below:
- five or more years at MRICS level
- a leadership role
- a professional or technical achievement
- academic achievement
- be shown to be raising the profile of the RICS
You will also require a portfolio of professional achievement to support your application.

37
Q

What is the role of the RICS?

A
  1. to maintain the highest standards of education and training
  2. to protect consumers through strict regulation of professional standards
  3. to be the leading source of information and independent advice on land, property, construction and associated environmental issues
38
Q

Why do you want to become an RICS accredited member?

A
  1. status
  2. recognition
  3. market advantage
  4. knowledge
  5. network
39
Q

Why are the new RICS rules of conduct so important?

A

They provide a strong foundation for the RICS and its members. They help protect the public and uphold the reputation of the profession.
Performance indicator for members

40
Q

How do you ensure that you provide a high standard of service?

A

I provide regular updates, ensure work is carried out in a timely fashion, and stick to projected timeframes where possible

41
Q

How do you promote trust?

A

I always act honestly, when dealing with tenants I am truthful about repairs and manage expectations

42
Q

What is the Role of the RICS?

A

To uphold the standards of the Chartered Surveying profession

43
Q

Who makes the rules?

A

The RICS standards and regulations board

44
Q

Who is the governor of the Bank of England?

A

Andrew Bailey (121st governor)

45
Q

Would you ever decline an instruction?

A

Yes if:
- there was a definite conflict
- if the job was outwith my capabilities
- If the client would not sign TOB or provide ML items

46
Q

What do you understand by the term “dual agency”?

A

When an agent has a contractual relationship with both byer and seller

47
Q

What needs to have occurred in order for a negligence claim to be made?

A

A duty of care has been breached
A loss has occurred
Negligence claim

48
Q

Who do the RICS standards and Rules of Conduct protect?

A

Clients/public

49
Q

What do you understand by the RICS Decision Tree?

A

A framework that members should refer too when facing a situation in which they are asked to act in a potentially unethical manner or situation

50
Q

What is Professionalism?

A

The competence and/or skill expected of a certain profession

51
Q

What percentage off principles of a firm must be RICS members for the firm to be regulated?

A
  • 25% THEY ARE ELIGIBLE
  • 50% THE FIR MUST COMPLY
52
Q

What is the Levitt review?

A

An independent review into the RICS management structure by Allison Levitt

53
Q

What is the Bichard review?

A

A review carried out by lord Bichard aiming to clarify the purpose of the RICS

54
Q

What are the mandatory obligations of RICS members?

A
  • comply with CPD requirements
  • cooperate with the RICS
  • provide all information as reasonably requested by the Standards and Regulation Board
55
Q

What are the mandatory obligations of RICS regulated firms?

A
  1. Firms must publish a complaints-handling procedure, which includes an alternative dispute resolution provider approved by RICS, and maintain a complaints log,
  2. 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,
  3. Firms with a sole principle must make appropriate arrangements for their professional work to continue in the event of their incapacity, death, absence from or inability to work,
  4. Firms must cooperate with RICS,
  5. Firms must promptly provide all information reasonably requested by the Standards and Regulation Board, or those exercising delegated authority on its behalf,
  6. Firms must display their business literature, in accordance with RICS’ published policy on designations, a designation to denote that they are regulated by RICS,
  7. Firms must report to RICS any matter that they are required to report under the Rules for the Registration of Firms.
56
Q

What is a Locum?

A
57
Q

What are the CPD requirements?

A

Member: 20 hours
Trainee: 40 hours

Half of which to be formal

58
Q

What are the 5 professional and ethical standards of the RICS?

A
  1. Integrity
  2. High standard of service
  3. Trust
  4. Respect
  5. Responsibility

PK APC 2024 (9 decks)

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