Ethics

Question 1

What Is the 1st rule of conduct?

Answer 1

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

Question 2

What is the 2nd rule of conduct?

Answer 2

Members and forms must maintain their professional competence and ensure that services are provided by competent individuals who have necessary expertise.

Question 3

What’s is the 3rd rule of conduct?

Answer 3

Members and firms must provide good quality and diligent service.

Question 4

What’s is the 4th rule of conduct?

Answer 4

Members and firms must treat others with respect and encourage diversity and inclusion.

Question 5

What is the 5th rule of conduct?

Answer 5

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

Question 6

What is a conflict of interest?

Answer 6

Where there may be an actual or potential risk that professional judgment will be compromised when undertaking a task.

Question 7

What is a bribe?

Answer 7

A reward offered, promised or provided by gain a commercial, contractual or personal advantage.

Question 8

What are the 4 bribery offences?

Answer 8

-bribing someone
-being bribed
-bribing a foreign public official
-failure by a commercial organisation to prevent bribery

Question 9

What is Professional Indemnity Insurance?

Answer 9

Covers policy holders for costs of legal action taken against them in respect of financial loss which occurs due to negligence or error in advice or services.

Question 10

What are the minimum limits of indemnity?

Answer 10

• <£100k: £250k
• £100k to £200k: £500k
• > £200k: £1m