Ethics-

Question 1

In what circumstances can you work with COI?

Question 2

Why do you want to be part of RICS?

Question 3

Have you ever received any gifts?

Question 4

What is a Royal Charter?

Question 5

When was the RICS founded?

Question 6

When did the RICS gain its Royal Charter?

Question 7

What is the RICS mission statement?

Question 8

Are you aware of any RICS guidance on social media use?

Question 9

• Tell me about the RICS guidance on Conflicts of Interest.

Question 10

• What are the rules around use of the RICS logo and ‘Regulated by RICS’ designation?

Question 11

Who is the current RICS president?

Question 12

• What are the professional obligations of members and firms?

Question 13

• What disciplinary procedures can the RICS impose

Question 14

• What is a Responsible Principal?

Question 15

What is the aim of the RICS?

Question 16

If someone sent you a case of champagne following a very large job that you had completed for them, what would you do then?

Question 17

What are the general principles around any sort of gifts?

Question 18

If not accepting a gift is really going to offend them what would you do?

Question 19

What are your CPD requirements once you have qualified? / before

Question 20

Why is CPD important?

Question 21

What else is required within your CPD? Ethics training?

Question 22

Can you give me the levels of turnover and PI cover that are required as a minimum?

Question 23

If you were going to set up by yourself in practice, what would you have to do?

Question 24

What is the role of the RICS? - MPL

Question 25

What are the three stages of disciplinary procedures?

Question 26

What is informal vs formal CPD?

Question 27

What is Professional Indemnity Insurance and why is it important?

Question 28

What is PII cover?

Question 29

PII cover standards

Question 30

What is an aggregate clause in insurance?

Question 31

Why have cap in TOE

Question 32

• If your level of turnover is over £250,000, what is the level of indemnity required?

Question 33

• What is run-off pool

Question 34

• What is the risk pool?

Question 35

• How long can a PII claim arise after the work is undertaken?

Question 36

• Explain your understanding of the RICS Professional Standard Risk, Liability and Insurance (1st Edn).

Question 37

• Explain when you might agree a liability cap in relation to PII?

Question 38

• What is Liability cap

Question 39

What is Modus?

Question 40

What is the RICS motto and what does it mean?

Question 41

What are the RICS Rules of Conduct?

Question 42

Give me examples of Rules of Conduct in your daily work

Question 43

Take one Rule of conduct and show how you have displayed this recently

Question 44

What is a conflict of interest?

Question 45

What is the (three step)process to handling a conflict of interest.

Question 46

What is bribery?

Question 47

What are the six principles of the Bribery Act 2010?

Question 48

What are the 4 offences under the Bribery Act 2010?

Question 49

What is the Bribery Act 2010 and what is its aim?

Question 50

What procedure does your company have for reporting Bribery

Question 51

• What are some of the key requirements of the RICS guidance relating to bribery, corruption and money laundering?

Question 52

Who is MLRO?

Question 53

How to raise Suspicious Activity Report?

Question 54

• What are your firms whistle blowing policies?

Question 55

What are the penalties for bribing?

Question 56

Who would be responsible for the employees corrupt act

Question 57

What does the Bribery Act 2010 say about hospitality?

Question 58

• Tell me about an instance of when you have been offered a gift or hospitality by a client.

Question 59

What is the RICS Guidance on Bribery?

Question 60

What are the requirements on Bribery within the RICS Professional Standard – Countering Bribery, corruption, money laundering and terrorist financing?

Question 61

• Explain your understanding of the RICS Scheme Rules relating to client money protection.

Question 62

• What are types of Alternative Dispute Resolution?

Question 63

• Most expensive dispute resolution

Question 64

• What can you do with client interest in account

Question 65

• Which dispute resolution measures are legally binding?

Question 66

• AI qs:
• Copyright
• legality

Question 67

• How would you keep clients money securely and safely held?

Question 68

• How do you ensure you comply with money laundering regulations?

Question 69

• How do you ensure you comply with your firms bribery and gifts policy?

Question 70

What is money laundering?

Question 71

Why are Money Laundering regulations in place

Question 72

What are the Money Laundering Regulations 2017?

Question 73

What amount of cash can you accept without having to register with HMRC?

Question 74

What are the regulations relating to anti-money laundering?

Question 75

• What due diligence should you undertake in relation to anti-money laundering checks?

Question 76

What are estate agents legal obligations with Money Laundering?

Question 77

What are the different levels of due diligence?

Question 78

What is a PEP

Question 79

What could be some red flags?

Question 80

Who might Enhanced Due Diligence be required for?

Question 81

What is EDD?

Question 82

Firms must have policies to scrutinise what types of transactions?

Question 83

What are the penalties for non compliance with the Money Laundering Regulations?

Question 84

What are the typical requirements for ML checks for CDD for different types of organisation?

Question 85

What is unconscious bias?

Question 86

What is an example of unconscious bias?

Question 88

What is a Bye-Law?

Answer 88

They provide the power for Head of Regulation and Regulatory Tribunal to make disciplinary and regulatory decisions including issuing disciplinary penalties and costs.

Question 89

Can you name some of the RICS bye-laws?

Answer 89

There are 10 Bye-Laws, which include:

Bye-Law 1 – Application & Definitions
Bye-Law 2 – Membership & Registration
Bye-Law 3 – Designations
Bye-Law 4 – Contribution to Funds
Bye-Law 5 – Conduct
Bye-Law 6 – Governing Council, Officers and Staff
Bye-Law 7 – Subordinate boards, committees and groups
Bye-Law 8 – Annual General Meeting
Bye-Law 9 – Accounts and Audit
Bye-Law 10 - General

Question 90

Who do the bye laws apply to?

Answer 90

Member
Firm
Regulated non member
Person covered by an agreement made under article 20 of the Charter.

Question 91

How can we overcome unconscious bias?

Answer 91

Encourage people to be open to recognising and managing biases.
Training to make people aware of it and what we can do as a business to prevent it.
Training can help to develop the empathy that
combats bias, diversify their networks and commit to improvement.

Question 92

How does Savills prevent modern day slavery?

Answer 92

At a minimum all our policies comply with local legislation in the jurisdictions we operate in. We have a number of internal policies one of which that deals with anti-slavery and human trafficking
Carry out appropriate due diligence/vetting and investigation of our supply chain (contractors, sub-contractors etc.
Paying all staff at least the minimum wage
Encouraging staff to report their concern (Group speak up policy)
Not knowingly supporting of dealing with any business involved with slavery or human trafficking
.

Question 93

What is meant by self-regulation?

Answer 93

That the RICS operates within its own published regulatory framework, rather than being legislated by the Government.

Question 94

Why do you want to become a member of the RICS?

Answer 94

Gold standard
Professional Development
Professional recognition
Opportunity to promote and contribute to the RICS, for example on DEI

Question 95

What ethical principles are the rules of conduct based on?

Answer 95

Honesty, integrity, competence, service, respect, and responsibility.

Question 96

Disciplinary Procedures – what is the RICS responsible for?

Answer 96

Regulating the surveying profession in order to
Protect the Public
Uphold public confidence in the profession
Uphold professional standards

Question 97

Who are disciplinary procedures undertaken by?

Answer 97

Standards and regulatory board

Question 98

What are the triggers of disciplinary procedures?

Answer 98

Someone complaining to the RICS
Allegations by a client or 3rd party
Information received by the RICS

Question 99

Do all shortcomings get investigated?

Answer 99

Not all, but failure to follow any RICS guidance will be considered.

Question 100

What is the RICS guidance?

Answer 100

RICS Regulatory Decision Making 2022 – provides out line of the approach by the RICS.

Question 101

Where can you find the disciplinary process?

Answer 101

In the RICS Regulatory Tribunal Rules 2022.

Question 102

What are the three levels of disciplinary action?

Answer 102

Action by head of regulation
Disciplinary Panel
Appeal Panel

Question 103

What are the four actions the Head of Regulation may take on completion of their investigation?

Answer 103

• Serve a fixed penalty notice
• Make a regulatory compliance order
• Refer the matter to a single member of the regulatory tribunal for consideration
• Refer matter directly to disciplinary panel

Question 104

What is a fixed penalty?

Answer 104

• For low level breaches, may include a fine/caution
• For breaches of the Rules relating to the supply of info by the RICS

Question 105

What is a regulatory compliance order

Answer 105

• Used for low level breaches, that can be easily corrected
• Written doc states the action the member or firm must take and agreement to pay a fine
• May cover issues as failure to comply with CPD

Question 106

What is a disciplinary panel?

Answer 106

• More serious breaches
• Includes lay members
• Penalties available may be:
  Fines
  Expulsion from RICS
  Made public on Modus/RICS Website

Question 107

What is the appeal panel?

Answer 107

• Where a member/firm can appeal against a review of decision
• Also includes lay members
• Evidence previously presented and new representations

Question 108

• Explain what your understand of the RICS Levitt review.

Question 109

• Explain what you understand by the RICS Bichard Review.

Question 110

• Explain some of the recommendations of the Bichard Review.

Question 111

Set up your own practice

Question 112

What happens with breach of ROC?

Question 113

What are disciplinary measures?

Question 114

What measures do you need to take if a conflict of interest is present?

Question 115

What are some of the terms for client money handling?

Question 116

If you were to set up your own firm, what information would you need to provide to the RICS? If you were to set up your firm for property management specifically, what information must also been included?

Question 117

If I wanted to set up my own company, what information would I need to provide the RICS?

Question 118

What are the 5 rules of conduct? Can you give me an example of when you have shown integrity in the workplace?

Question 119

If somebody made a complaint against you, what steps would you take? If they still weren’t happy with the response given, then what would you do?

Question 120

What legislation do you have consideration to for Bribery?

Question 121

1. Can you name 3 of the Rules of Conduct?

Question 122

2. What were the key recommendations of the Bichard RICS Review?

Question 123

3. Why was the Birchard Review undertaken?

Question 124

4. What was a key learning that you took from the RICS Professionalism Module?

Question 125

5. What type of conflict of interest did you come across?

Question 126

6. What procedures do you have in place to manage and avoid conflict?

Question 127

7. Is it acceptable to accept an instruction where a conflict of interest exists?

Question 128

8. You mention various elements of terms of engagement, can you talk me through what is included?

Question 129

9. Why is transparency important?

Question 130

10. What RICS document sets out good practice for handling of client money?

Question 131

11. Why should you not allocate to the latest arrears?

Question 132

12. What is the importance of written confirmation of actions?

Question 133

Can you describe a time when you had to apply ethical principles in a challenging situation with a client?

Question 134

How do you approach the issue of gifts and hospitality in your practice to avoid unethical influence?

Question 135

Can you provide an example where you had to maintain confidentiality despite external pressures to disclose information?

Question 136

How do you ensure that you and your firm remain compliant with professional regulations and ethical standards?

Question 137

Can you give an example of when you provided advice to a client or colleague on an ethical dilemma? How did you ensure the solution was in line with RICS standards?

Question 138

Have you ever had to advise a client on an ethical issue, such as a conflict of interest or the importance of professional independence? How did you handle it?

Question 139

Can you describe a time when you had to advise your firm on compliance with RICS ethical standards? What was the outcome of your advice?

Question 140

How have you advised a client or your firm on ensuring fair and transparent business practices in a real estate transaction?

Question 141

Can you provide an example where you offered advice on best practice to maintain high professional and ethical standards?

Question 142

Can you explain how you have guided a client or colleague in understanding the implications of breaching ethical standards, and what steps were taken to prevent it?

Question 143

Have you ever had to challenge unethical behavior in a colleague or a client? How did you manage the situation, and what was the outcome?

Question 144

A colleague is involved in a transaction where they have a personal interest that could lead to a conflict. How would you handle this situation to ensure ethical practice?

Question 145

You are advising a client on a deal, and they ask you to withhold critical information from other stakeholders. How would you respond, and what ethical principles would guide your actions?

Question 146

During a valuation, you realize that a client is pressuring you to inflate the property value to secure a higher loan. How would you handle this situation and ensure ethical compliance?

Question 147

A client offers you a substantial gift after a successful property transaction. How do you handle the situation in line with RICS ethical guidelines on gifts and hospitality?

Question 148

You discover that a senior colleague has violated ethical guidelines in handling a client’s funds. How would you address this internally, and what steps would you take to ensure the situation is properly managed?

Question 149

client is found to be involved in fraudulent activities related to property transactions. What ethical steps would you take to address the situation and ensure compliance with both legal and professional standards?

Question 150

What measures do you need to take is a conflict of interest is present?

Question 151

What are some of the terms for client money handling?

Question 152

If you were to set up your own firm, what information would you need to provide to the RICS? If you were to set up your firm for property management specifically, what information must also been included?

Question 153

If I wanted to set up my own company, what information would I need to provide the RICS?

Question 154

If somebody made a complaint against you, what steps would you take? If they still weren’t happy with the response given, then what would you do?

Question 155

What legislation do you have consideration to for Bribery?

Question 156

Why is RICS important?

Question 157

what curent issues affect the profession?

Answer 157

Impact of Artificial Intelligence on the Industry.
Harris Debate 2024, Ethics in The Age Of AI.
RICS Professional Fee Updates.
RICS 2024 Sustainability Report.
RICS Leadership Updates.
RICS Rules of Conduct Updates.
Labour Government Impact on the Industry.
RICS Business Plan.

AI, sustainability, Diversity, skilled employees

Question 158

Are you aware of any guidance that applies to RICS Members when using Social Media?

Answer 158

he RICS introduced the Guidance Note ‘Use of Social Media: Guidance for Members’. The Guidance note sets out the same standards as stipulated in the RICS Rules of Conduct and reminds members that these do not change whether communicating via social media, face to face or traditional forms of media.

Question 159

When would the RICS investigate a Social Media post made by one of its members?

Answer 159

Discriminatory.
Dishonest.
Abusive or threatening.
Likely to cause significant harm, distress or offence to a person.
Shows a pattern of frequent or large number of concerning communications.
Ignores previous advice or warnings about concerns.

Question 160

Please explain your understanding of the RICS Business Plan for 2024?

Answer 160

Matrics Expansion into South Asia – The Governing Council is prioritising support for the next generation of early career professionals with Matrics networks expanded to South Asia, Greater China and Southeast Asia and Australia markets.
Sustainability Leadership – RICS aims to lead on global issues such as decarbonisation, climate resilience, biodiversity, and the circular economy. This involves strengthening carbon measurement standards, influencing policymakers, and equipping members with training and tools to address sustainability challenges.
Attracting Diverse Talent – Efforts are underway to attract a wider range of individuals into the profession. This includes modernising the assessment process, increasing support for early-career professionals, and creating grants and bursaries for underrepresented groups.
Enhancing Member Engagement – The RICS is working on improving the value and experience for its members. This includes better understanding of their needs through data insights, creating stronger connections among members and promoting their work and professionalism publicly.
Strengthening Trust – The institution plans to enhance public trust by refining its regulatory processes, ensuring transparency, and maintaining high standards for ethical and technical practices.

Question 161

Can you please explain your understanding of the recent RICS Fee changes?

Answer 161

The RICS has announced a 3.5% increase in professional subscription fees for 2025, marking the first adjustment in five years. The decision was made to address rising operational costs and inflation, which RICS had been absorbing. A new subscription framework has also been introduced to create a fairer and more regionally equitable system, taking into account member grades, benefits, and local economic conditions. For example, UK-based professional members will pay £558, while fellows will pay £681. The framework is designed to reflect affordability, with fees varying internationally based on local market conditions and exchange rates. In some regions, like parts of Africa, fees have decreased to enhance affordability. Members under two years and those pursuing qualifications will see tiered rates depending on their status.

Question 162

What is the RICS doing to improve Diversity & Inclusion?

Answer 162

The RICS has setup ‘Diversity & Inclusion leadership’ which is a knowledge hub allowing the RICS to share ideas on how and why diversity & inclusion is so important to the RICS. This has included initiatives such as:

International Women’s Days celebrating the achievement of Women in our profession.
Pride 2023: LGBTQ+ equality pledge focusing on the importance of LGBTQ+ representation in the profession.
The McGregor-Smith Review – aiming to develop black and ethnic minority talent within the profession.

Question 163

Please explain your understanding of how the RICS define Professional Standards vs. Practice Information?

Answer 163

Following the Birchard Review and its recommendations the RICS have introduced two new definitions for Professional guidance which are now split into Professional Standards and Practice Information. These supersede the former definitions including Professional Statements, Guidance Notes and Codes of Practice.

Professional Standards – set out requirements or expectations for RICS members and regulated firms with a focus on baseline expectations for competence and ethical behavior. They contain mandatory requirements that surveyors must follow, where the word ‘must’ is used with best practice that surveyors should follow, where the word ‘should’ is used.
Practice Information – set out supporting guidance to advise surveyors in delivering specific services or working in specific areas of practice. The guidance is not mandatory and does not provide explicit recommendations. Practice Information can refer to processes, toolkits, checklists, insights, research and technical information or advice.

Question 164

Please explain your understanding of Rule Number 1?

Answer 164

Having reviewed the example behaviours in adhering to Rule 1 RICS Members and firms should not allow themselves to be influenced improperly through the acceptance of work referrals, gifts or hospitality. Members and Firms must also be sure to identify conflicts of interest and not provide services or advice where these conflicts of interest occur. This could be a scenario where you have reduced impartiality due to an existing relationship, for example being friends with a Main Contractor who has subsequently been selected to submit a tender would form a conflict of interest.

Question 165

What impact will the Labour government election have on the Property & Construction Industries?

Answer 165

Election of the Labour government may have the following impacts:-

House Building Targets – Labour has pledged to build 1.5 million homes over the next parliamentary term, reinstating mandatory housing targets and updating the National Planning Policy Framework (NPPF).

Infrastructure Projects – Significant funding is planned for public infrastructure, including transportation networks, renewable energy projects, and urban development. This will create opportunities for large scale construction projects, likely driving economic growth and job creation.

Sustainability Focus – Labour has committed to embedding green practices across the industry, with policies focusing on eco-friendly materials, retrofitting existing buildings for energy efficiency, and integrating biodiversity in urban planning. This could lead to increased demand for sustainable construction practices through regulations such as MEES.

Skills Development – Labour plans to address the construction sector’s skill shortages through youth training initiatives and improved working conditions, such as banning zero-hour contracts. This could create a more skilled and stable workforce but will require significant investment to meet labour demands.

Question 166

What impact will the 2024 US Election results have on the Property & Construction Industries

Answer 166

Currency fluctuations – The value of the US dollar often fluctuates sharply during and after an election. These shifts directly affect the exchange rate between the dollar and the pound, which in turn impacts the attractiveness of UK property to overseas investors. A weaker pound against the dollar could mean heightened interest from the US and other international buyers, particularly in prime markets like London driving higher property prices.
Impact on Interest Rates – The US election influences the Federal Reserve’s economic policies, which in turn affect global financial markets. Changes in US monetary policy could lead to adjustments by the Bank of England. For UK property, interest rates are crucial as a rise could dampen demand by making mortgages more expensive. Conversely, if rates stay low, the market could remain buoyant, with borrowing costs staying affordable for longer.
Supply Chains and Construction – Changes in US trade policy or tariffs could ripple through the global economy affecting the cost of materials like steel and timber. Higher costs for builders could slow the pace of new developments or push prices higher for buyers in England.
Tech Development & Remote Working – If the election results encourage further growth in the tech sector & remote working, it could bolster demand for homes in England’s regional cities, which have become increasingly popular with remote workers seeking affordability and a better work-life balance.

Question 167

What impact is hybrid working and working from home having on the property sector?

Question 168

Please explain your understanding of what happened at COP29?

Answer 168

COP29 was held in Baku, Azerbaijan in November 2024 and focused on addressing the climate finance gap through the loss and damage fund, designed to support vulnerable nations. Other key takeaways include:-

Some progress was made on working towards a global carbon market where the buying and selling of carbon emissions is facilitated to help reduce global emissions. This market would incentivise lower global emissions for companies, countries and other entities.
By putting a price on carbon, it incentivises industries to innovate and invest in cleaner technologies, helping to reduce the global carbon footprint.
Progress was made on the NCQG or New Climate Finance Goal to replace the previous $100bn Goal. This is intended to ensure that sufficient financial resources are mobilised to support developing countries to address the impacts of loss and damage from climate-related disasters. A consensus on the amount and scope of the funds required​ was discussed.

Question 169

) Please provide a high-level overview of the 2024 RICS Sustainability Report?

Answer 169

The RICS Sustainability Report 2024 provided a detailed analysis of the current state of sustainability within the built environment sector. The key findings include:-

Identification of an increase in market demand for green buildings however the adoption of sustainable practices remains limited.
High upfront costs and insufficient government incentives form significant barriers to widespread implementation of greener building methods.
The report highlighted a need for consistent sustainability measurement across projects. Tools like the RICS Whole Life Carbon Assessment (WLCA) standard aim to address this issue by providing a unified framework for assessing and reducing carbon emissions.
The RICS emphasises that the level of commitment and action needs to increase substantially to achieve 2050 net-zero targets.
RICS continues to play a pivotal role in shaping sustainability policies and standards globally. Its involvement in initiatives like the UN’s Buildings Breakthrough highlights the importance of harmonising sustainability standards worldwide​.

Question 170

• Conflict of interest – explain a time when there was a conflict of interest
  o Is there any scenario where you could have taken this job on?
  o What if this ended friendship?

Question 171

Please explain your understanding of the term ‘Carbon Life Cycle’?

Answer 171

Carbon life cycle is a holistic view of the carbon footprint of a building. This considers the carbon impact from:-

Material extraction.
Manufacturing.
Transportation.
Construction works.
Maintenance.
Repairs or replacement of materials.
Consumption of energy.
Carbon use at the end of the buildings life.
The represents a shift in simply selecting low carbon building products and encourages a longer term view during the building design process.

Question 172

Please explain your understanding of the term ‘Placemaking’?

Answer 172

Placemaking is a wholistic approach to the development of public spaces that considers planning, design, implementation and management. This aims to deliver public spaces that offer unique value to their occupants such as:-

A greater sense of belonging.
Increased security.
A unique atmosphere.
Inspiration and experience.
A sense of pride in community.
This concept is thought to result in an improved quality of life to occupants, greater happiness, better work productivity and a possible increase in property values.

Question 172

• Why is COI check important?
  o How would you complete this check?
  o If it were a small company how would you complete this check?
  o What are your company’s Terms of Business and why is this important?
  o What are the key points in a Terms of Engagement – what if they weren’t signed?
  o What portfolio of properties was this?

Answer 172

(Answer: offices in London)

Question 172

Please explain your understanding of Green mortgages?

Question 172

• If you overcharged and the tenant wanted this returned, what would you do? o What if they refused?

Answer 172

(answer: recommend that it is returned to client)

Question 172

• Why could you not allocate monies directly without tenant approval?

Answer 172

(answer: ethics) – acted with integrity