Ethics Flashcards
1
Q
What are the RICS Rules of Conduct?
A
ICQRR
- To be honest, act with integrity and comply with their professional obligations, including obligations to RICS.
- To maintain their professional competence and ensure that services are provided by competent individuals who have the necessary expertise.
- To provide good-quality and diligent service.
- To treat others with respect and encourage diversity and inclusion.
- To act in the public interest, take responsibility for their actions and act to prevent harm and maintain public confidence in the profession.
2
Q
Who is the RICS President?
A
Nick Maclean is stand-in President
3
Q
How do you do a Conflict of Interest check?
A
On our Conflict of interest checking software (EBIS) to check against registered instructions. This highlights any prior relationships on the client and the property.
4
Q
What would you do if there were conflicts identified in your Conflict-of-Interest Check?
A
- Avoid the conflict by DECLINING the instruction
- Written advice to both parties
- Manage the conflict with written consent (Information barriers)
5
Q
When was the RICS founded?
A
1868
6
Q
When did RICS get its Royal Charter?
A
1881
7
Q
What are the levels of memberships in the RICS?
A
Trainee, Associate, Member and Fellow
8
Q
What is the meaning of the RICS motto?
A
‘Est Modus in Rebus’
There is measure in all things
9
Q
How would you deal with a complaint?
A
- See if the complaint can be resolved informally
- If not, refer them to our complaints handling procedure.
- If so, Notify the PII insurer
10
Q
What is your Complaints Handling Procedure?
A
11
Q
What are the professional obligations of members?
A
Seen in Appendix A, members must
- Comply with CPD requirements
- Cooperate with the RICS
- Provide information reasonably requested by the Standards and Regulation Board
12
Q
What are the professional obligations of firms?
A
7
Seen in Appendix A, Firms must:
- Have a Complaints Handling Procedure in place
- Ensure that work is covered by approved PII cover
- Ensure instruction protection in event of incapacity/death
- To cooperate with RICS
- Provide information reasonably requested by the Standards and Regulation Board
- Display ‘Regulated by RICS’ on their business literature
- Report to RICS any matter they are required to report under the Rules for the Registration of Firms
13
Q
What does PII stand for?
A
Professional Indemnity Insurance
14
Q
What is the purpose of PII?
A
To provide financial cover in the event a client suffers financial loss as a result of a breach of professional duty e.g neglect or errors
15
Q
What is ethics?
A
A set of moral values
16
Q
Why do we have RICS Rules of Conduct?
A
To use as an ethical framework for all members and firms to work to
17
Q
Who is the RICS Global CEO?
A
Justin Young
18
Q
What are the three types of conflicts?
A
- Party Conflict
- Own interest Conflict
- Confidential Information Conflict
19
Q
What is a bribe?
A
Offering, promising, giving or accepting any financial or other advantage: to induce someone to act improperly
20
Q
What are the main offences in the Bribery Act 2010?
A
- Giving a bribe (active bribery)
- Accepting a bribe (passive bribery)
- Bribing a foreign public official
- Failing in preventing a bribe
21
Q
What are the steps in the Ethics Decision Tree?
A
- Do you have sufficient facts on the issue?
- Is it Legal?
- Is it in line with RICS Rules of Conduct?
- Have you consulted with appropriate people to make an informed decision?
- Do you have clear reasoning in reaching your decision?
- Would you be content for your actions to be made public - in the newspapers or on the internet?
Final - Act and reflect on the outcome
22
Q
How could a disciplinary proceeding be triggered?
A
By someone complaining to the RICS
23
Q
Why would a disciplinary procedure occur?
A
If failure to comply with RICS guidance
24
Q
Why does the RICS regulate the surveying profession?
A
- To protect the public
- To uphold public confidence
- To uphold professional standards
25
What are fixed penalties?
A fine by the RICS
26
Why did the Red Book Global Standards change?
1. To be aligned with the International Valuations Standards
2. To provide a simpler structure
3. An increased focus on EDI and ESG
27
What are the three levels of disciplinary action?
1. Formal investigation
2. Regulatory Tribunal
3. Appeal Panel
28
How many qualified professionals are there?
113,000
29
How many trainee candidates are there?
28,000
30
When is the only time a fixed penalty could be used?
Failure to supply information to RICS
31
Name a time you complied with Rule 1 of the Rules of Conduct? (Honesty and Integrity)
Receiving a gift.
I received a gift as a token of gratitude for my work. I referred to my company's gift and hospitality policy, determined the value of the gift considered the proportionality to the instruction completed, accepted the gift and thanked my client.
32
Name a time you complied with Rule 3 of the Rules of Conduct? (Good quality service)
Discrepancy in Measurements
When inspecting an industrial property, I noticed a discrepancy between my measurements and the measurements from a previous report they had provided. I advised the client on the difference and ensured mine were in line with the RICS Code of Measuring Practice, to which they adopted. This allowed me to demonstrate a good-quality service.
33
Name a time you complied with Rule 2 of the Rules of Conduct? (Professional Competence)
Assess competence before accepting instructions + CPD
Prior to the formal acceptance of any instructions from clients, I am aware I must assess whether LSH have the capacity and knowledge to
complete the client’s requested task to their timescales.
34
Tell me about a time you complied with Rule 4 of the RICS Rules of Conduct? (Treat others with respect + DEI)
Angry Landlord + prospective tenant
I encountered a client who was highly uncooperative and argumentative in a letting transaction. This then resulted in the tenant becoming frustrated. I remained calm, professional, and respectful throughout all communications despite the contenscious nature to be resolved in a suitable manner to the satisfaction of all parties.
35
Tell me about a time you complied with Rule 5 of the RICS Rules of Conduct? (Act in the public interest + took responsibility)
HoT's for a Portfolio Instruction in the Black Country.
By drafting Heads of Terms for a portfolio instruction in the Black Country in line with VPS1 of the Red Book taking particular regard to the client’s requirements, timescales and PII Compliance
36
What is a Conflict of Interest?
Where someone has competing interests making it difficult for them act impartially
37
What legislation is used to protect individuals from discrimination?
The Equality Act 2010
38
What are the protected characteristics in the Equality Act?
Age
Sex
Race
Disability
Religion
Gender reassignment
Marital status
Pregnancy
Sexual orientation
39
How did you act ethically in Sovereign Court?
* I assessed my knowledge and competence
* Carried out a Conflict of Interest check on all parties and the property
* There were no conflicts
* Saved the documents correctly
* Proceeded to accept the instruction
40
How did you act ethically in your Portfolio Instruction in the Black Country?
* I assessed my knowledge and competence
* Undertook and Conflict of Interest check
* Drafted Terms of Engagement in line with VPS1
* Detailed the specific terms to meet the clients requirements
* Complied with Rules 3 and 5 of the Rules of Conduct
41
How did you act ethically when you received a gift?
* I referred to my company's Gift and Hospitality Policy
* I determined the value of the gift in proportionality against the instruction
* I declared it and logged it on my company's gift register
* I deemed it to not compromise my integrity in line with Rule 1.
* I accepted the gift
42
How did you act ethically in Shipleys Amusements, Solihull?
* I was asked to provide an update of the local occupier market
* I gathered evidence into Excel and provided the client with the document
* The client disagreed with me on my opinion of values based on the evidence
* I responded by saying my opinion was derived by market evidence and asked them to provide alternative evidence
* I said I would not artificially inflate the value
* I complied with Rules 1, 2 and 3
43
How would you react if you discovered a colleague was acting unethically?
1. I would ensure I had sufficient facts
2. I would approach them informally
3. I would try to resolve it internally by telling my line manager
4. I would go to HR
5. If it hadn't been addressed internally, I would go to the RICS
44
What is the purpose of the RICS Rules of Conduct?
1. To promote high standards of professionalism
2. Protect the public interest
3. Maintain confidence in the profession
45
What is an inclusive environment?
Where everyone feels respected, valued, and able to be themselves regardless of their background, identity, or circumstances.
46
What is Unconscious Bias?
Automatic assumptions or stereotypes we hold about people based on their characteristics
47
What is an access statement?
A written document that outlines how a building or space has been designed or adapted to ensure accessibility.
48
What is neurodiversity?
Neurological differences such as autism, ADHD, dyslexia
49
How would you accommodate someone with neurological differences e.g autism?
By creating neurodiverse-friendly workplace
50
What is the role of the RICS?
Training
Regulation
Information
51
What does the RICS expect from members using social media?
To maintain professionalism in all online communications
52
Do you use social media?
Yes, but I rarely post.
53
What social media platforms do you use?
Instagram, X and LinkedIn
54
What do you use social media for?
To keep informed with news and personal interests such as football.
55
What are the benefits of being an RICS member?
Status
Recognition
Market advantage
Knowledge
Network
