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RICS APC > Ethics > Flashcards

Ethics Flashcards

1
Q

What is RICS?

A

Royal Institution for Chartered Surveyors

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2
Q

Who is the president of RICS?

A

Tina Paillet FRICS

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3
Q

When was RICS founded? When was is granted Royal Charter?

A

Founded 15 June 1868 Royal Chartered 26 August 1881

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4
Q

How is RICS structured?

A

The structure has the Governinc council at the top, responsible for strategic leadership. Below this are RICS board, handling the day-to-today operation, supported by committees underneath, and Standards and Regulations board which oversees the professional standards and regulatory functions of RICS, supported by committees underneath

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5
Q

Where is RICS main office?

A

Parliament Square, since 1868

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6
Q

What is RICS matrics?

A

RICS Matrics is our early career community designed to support students, apprentices, trainees and those who are newly qualified (up to 10 years), as they move into the industry.

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7
Q

What is Lionheart?

A

LionHeart is an independent charity, to support members through difficult times, whether personal or professional, from the beginning of their career as an APC candidate or apprentice, right through to retirement

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8
Q

Tell me what you know about bribery and corruption?

A

Under RICS guidance notes, bribery and corruption are strictly prohibited and covered by international laws like the UK Bribery Act 2010, avoiding any practices that involve offering, giving, or accepting bribes or engaging in corrupt activities

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9
Q

Tell me what you know about money laundering?

A

It is process of concealing the origins of illegally obtained money, often through legitimate businesses. RICS members must comply with anti-money laundering (AML) regulations, including identifying clients, conducting risk assessments, and reporting suspicious activities.

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10
Q

What is meant by negligence?

A

A breach to duty of care to all clients and 3rd party for not using reasonable skill and care

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11
Q

What are the rules of conduct?

A

Respect, Responsibility, Integrity, Competent, Service

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12
Q

Why does RICS have rules of conduct?

A

To provide framework that we can all work to so the client knows he is getting a set level of service.

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13
Q

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

A

Not every shortcoming leads to proceedings. First step is a formal investigation by the head of regulation of RICS. RICS can request information and visit/inspect to investigate. Members must fully cooperate.

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14
Q

What are the actions can be imposed after investigation stage?

A

Fixed penalty, consent orders - agreement between RICS and member requiring certain corrective actions and possible fines, Disciplinary panel - for serious breach of contract.

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15
Q

When is expulsion applicable?

A

Gross, persistent or will failure to comply

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16
Q

Why would you like to chartered member of RICS?

A

RICS is a globally recognised qualification that gives client reassurance that I adhere to a certain values and ethics. It also gives credibility to you and employer, and ensures continuous development to its members, through CPD

17
Q

What are the professional obligations of a chartered member?

A

Comply with CPD, cooperate with RICS, promptly provide all info requested by Standards and Regulation Board

18
Q

What are the professional obligations of a firm?

A

CHP, professional indemnity, appropriate arrangements to continue in event of incapacity, death, absence or inability to work, cooperate with RICS, promptly provide all info requested by Standards and Regulation Board, display RICS designation according to RICS guidance, must report any matter required under rules for the registration for firms

19
Q

How would you start a firm?

A

1) Contact RICS for guidance and start up pack
2) Inform RICS and register
3) Appoint contact officer for all RICS comms
4) Prepare CHP, obtain PI
5) Abide rules of conduct for firms
6) Use designation regulated by RICS

20
Q

What insurances required when starting up a firm?

A

PI, Employer’s Liability, Public Liability, Building’s insurance of an office premises.

21
Q

What documents need to be sent to RICS annually?

A

Annual Return

22
Q

What are the current CPD Rules for Chartered Surveyors?

A

Must undertake and record CPD, minimum 20 hours per calendar year, 10 must be formal.

23
Q

How would you differentiate formal and informal CPD?

A

Formal CPD: Structured learning activities with clear learning outcomes, often accredited or recognized by professional bodies
Informal CPD: Unstructured learning experiences that occur through everyday work activities, such as reading articles, networking, or self-directed learning

24
Q

What are the minimum and maximum levels of indemnity?

A

Minimum, 250k for 100k or less turnover, 1M for 200k or above turnover

25
Q

Explain the steps of RICS Ethics Decision Tree?

A

Identify issue, consider relevant standards, gather information, evaluate options, make a decision, act, reflect

26
Q

What recent articles have your read from RICS?

A

Technology and Innovation Weekly Digest published August this year

27
Q

How would you apply RICS ethics in a daily work basis?

A

Incorporate RICS ethics into my daily work by making principled choices, being reliable, valuing others, and ensuring trust in all my professional interactions

28
Q

What is conflicts of interest?

A

One in a position of trust has competing personal or professional interest making it difficult for them to fulfill duty impartially

29
Q

How would you deal with conflicts of interest?

A

I would inform the client of a conflict of interest is identified, make them aware of potential impartiality. If needed, step back from the project. If clients persists, seek written instruction to continue and agree working procedure to manage conflict of interest.

30
Q

What QA need to be undertaken by both clients and AECOM?

A

AECOM QA step quality procedure. Allow clients to give feedback in the delivery and update whenever necessary

31
Q

How would being employed as both Engineer and cost consultant within a company be a potential conflict of interest?

A

Decision-making bias, confidentiality, stakeholder interest, accountability issues

32
Q

What advice have you undertaken to the client in this conflict of interest scenario?

A

I made the client aware of the conflict of interest, which may lead to potential impartiality. Client provided written instruction of the appointment retention as cost consultant, bearing in mind the agreed working procedures and accountability to manage COI.

33
Q

How is incorrect value from the contractor form part of ethics?

A

Responsibility, competency, service

34
Q

How did you advice the client about the contractor’s incorrect values?

A

After gathering documentation, I assessed the claim, provided recommendation after assessment,

RICS APC (17 decks)

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