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APC > Ethics > Flashcards

Ethics Flashcards

1
Q

What are RICS’ ethical principles?

A

Honesty
Integrity
Responsibility
Competence
Service
Respect

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1
Q

How does RICS ensure standards of professional conduct are upheld?

A

Through the fives rules of conduct and ethical principles.

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2
Q

What are the five Rules of Conduct?

A
  1. Be honest, act with integrity and comply with professional obligations.
  2. Maintain professional competence.
  3. Provide a high quality and diligent service.
  4. Promote diversity and inclusion.
  5. Act in the public interest and take responsibility for your actions.
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3
Q

Provide examples of how you have complied with the five Rules of Conduct.

A
  1. I am transparent with clients on fee build ups.
  2. I undertake CPD.
  3. I implement a quality assurance process.
  4. I call out unnecessarily gendered language.
  5. I would respond to a complaint promptly in line with company procedure.
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4
Q

What is in Appendix A of the Rules of Conduct?

A

The professional obligations for members and firms.

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5
Q

What are the professional obligations for members?

A
  1. Fulfil CPD hours (20 per year, of which 10 are formal).
  2. Cooperate with RICS.
  3. Provide information as reasonably requested by the Standards and Regulation Board.
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6
Q

What are the professional obligations for firms?

A
  1. Publish a Complaints Handling Procedure.
  2. Hold the necessary Professional Indemnity Insurance.
  3. Ensure there is a nominated locum for sole practitioners in the event of incapacity, inability to work etc.
  4. Cooperate with RICS.
  5. Provide information as reasonably requested by the Standards and Regulation Board.
  6. Display RICS logo on business literature.
  7. Report any matter to RICS as required under the Rules for Registration of Firms.
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7
Q

What is RICS guidance on use of social media accounts?

A
  • RICS have published “Use of social media guidance for RICS members” in 2021.
  • The overarching principle that standards of behaviour do not change just because communication is through social media.
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8
Q

Why does RICS publish guidance notes and do members have to follow them?

A

Guidance notes are not obligatory but do guide members towards being professionally competent.

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9
Q

What is the Black Book?

A

A collection of technical best practice documents that cover processes throughout the construction project lifecycle.

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10
Q

What regulation is associated with the use of the RICS logo?

A

There are two: rules for the use of the logo by firms, and guidelines for personal use of the logo by members.

  • “Rules for the use of the RICS logo and designation by firms.”
  • “Guidelines for the personal use of the RICS logo designations by RICS professionals.”
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11
Q

What are the two new definitions for professional guidance and what are their purposes?

A
  1. Professional standards - they set requirements or expectations for RICS members and firms. Requirements are mandatory where the word “must” is used, and best practice where the word “should” is used.
  2. Practice information - supplementary guidance that is useful but not mandatory including things such as definitions and toolkits.
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12
Q

How do you act with integrity?

A

Be trustworthy, transparent and do not take advantage.

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13
Q

Why must you act within your professional competence?

A

To ensure I do not advise clients incorrectly, leading to a complaint or claim of negligence.

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14
Q

How do you provide a high standard of service when executing your professional appointments?

A

I ensure my clients receive the best advice possible, act within my competence and communicate clearly so they can make informed decisions.

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15
Q

How do you promote trust in the profession?

A

I understand how my actions affect other and fulfil my professional obligations.

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16
Q

How do you maintain a high ethical standard in your profession?

A

I review my actions, maintain appropriate CPD, and address unethical behaviour.

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17
Q

What can employers do to create an ethical environment for their staff?

A

They can establish a confidential whistleblowing procedure, promote CPD in relevant areas, and employ ethical standards in recruitment or employment contracts.

18
Q

What is the difference between ethics and integrity?

A
  1. Integrity is an internal quality of being honest and having strong moral principles.
  2. Ethics is external and applies to organisational code of conduct.
19
Q

What are the rules associated with registering a firm with RICS?

A

Rules for the registration of firms (2022)

20
Q

What tools are there to help members make ethical decisions?

A

The ethics decision tree.

21
Q

When is a firm required to register for regulation with RICS?

A

When:
1. The firm provides surveying services to the public.
2. The firm operates in the UK.
3. At least 50% of the firm’s principals are RICS members.

22
Q

What is a locum?

A

Another professional who is appointed to stand in for a sole principal if they are unable to work.

23
Q

Who can be a locum?

A

Another chartered surveyor.

24
Q

How does professional indemnity insurance cover relate to locums?

A

Locums must operate under their own cover or the firm’s for any work they undertake while the sole practitioner is unavailable.

25
Q

What must you consider when accepting gifts or hospitality?

A

The timing, proportionality, and the intention.

26
Q

What are CPD requirements for chartered surveyors?

A

20 hours per annum, of which 10 must be formal.

27
Q

What is formal and informal CPD?

A
  1. Formal CPD is structured learning with a clear objective eg. a training course
  2. Informal CPD is self-managed learning that is relevant to my professional route.
28
Q

What tool helps decide whether CPD is formal or informal?

A

The CPD decision tree.

29
Q

What activities do not count towards CPD requirements?

A

Any activities that don’t have a clear learning purpose or isn’t related to my role.

30
Q

How will you target selecting CPD?

A

I’ll identify my weak areas or pick them in relation to industry hot topics.

31
Q

How do you keep up to date with hot topics?

A

I read construction related news, read internal communications, and discuss with colleagues.

32
Q

What is a conflict of interest?

A

It is the risk that my professional judgement could be compromised.

33
Q

Provide a working example of a conflict of interest.

A

When the same firm acts for both a developer and contractor on the same project.

34
Q

What is informed consent?

A

When one party, who could be adversely affected by a conflict of interest, is aware of its existence but agrees to instruct the member or firm to proceed with assignment anyway.

35
Q

What would you do if you were aware of conflict of interest?

A
  1. Notify the clients
  2. Seek informed consent
  3. If given consent, you could physically separate from the other team or secure different parts of the server to maintain confidentiality.
36
Q

What is the Bribery Act 2010?

A

Legislation that makes it a criminal offence to give or accept a bribe.

37
Q

What are the main offences under the Bribery Act 2010?

A
  1. Give a bribe
  2. Accept a bribe
  3. Bribing a public official
  4. As a commercial organisation, fail to prevent bribery.
38
Q

What is professional indemnity insurance?

A

It is insurance held by a firm covering them for claims from clients for loss or damage for eg. professional negligence.

39
Q

What a the PI insurance requirements for RICS firms?

A
  1. The policy must be fully retroactive (covering all former work of the company prior to the start date of the insurance policy.
  2. The policy must have run-off of a minimum of 6 years to cover historic liabilities after a business ceases to trade.
  3. Minimum limit of PI cover is linked to the company’s level of turnover - <£100k turnover = £250k PI; £100k-£200k turnover = £500k PI; >£200k turnover = £1m PI.
40
Q

What are the principles of the Bribery Act 2010?

A
  1. Proportionality
  2. Top level commitment
  3. Risk assessment
  4. Due diligence
  5. Communication
  6. Monitoring and review
41
Q

What is corruption?

A

The abuse of entrusted power for private gain.

42
Q

What is your position for compliance with the Bribery Act 2010?

A

My company has an anti-bribery and corruption policy which I abide by, and I undertake required training.

I would report an act of bribery to the Serious Fraud Office or National Crime Agency.

43
Q

What are the possible consequences for not adhering to the Bribery Act 2010?

A

Unlimited fines or a prison sentence for up to 10 years for an individual.

APC (5 decks)

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