Ethics 2

Question 1

Who is responsible for corrupt acts within companies ?

Answer 1

Companies are responsible for corrupt acts of their employees

Question 2

What should you have in place in your company to prevent bribery?

Answer 2

The correct procedures being in place

Question 3

What are the penalties for bribery?

Answer 3

Up to 10 years in prison and an unlimited fine for companies

Question 4

Bribery is policed by what body?

Answer 4

Serious fraud office

Question 5

What are the 6 principles of the bribery act?

Answer 5

Consistency
Proportionality
Due diligence
Risk assessment
Monitoring and review
Top level commitment

Question 6

What are the 4 offences of the bribery act?

Answer 6

Giving a bribe
Receiving a bribe
Facilitating a bribe
Bribing a public official

Question 7

What is a CDD?

Answer 7

Customer due diligence check

Question 8

What is a CDD for an individual?

Answer 8

Copy of passport or driving licence with a photo
Copy of bank statement credit card bill
Council tax statement or utility bill

Question 9

What is CDD for PLC

Answer 9

Stock exchange listing

Question 10

What is CDD for publicly accountable body?

Answer 10

Establish court ownership or control

Question 11

What is CDD for private company?

Answer 11

Certificate of incorporation
Full name and registered number and address
Names of all directors and shareholders with more than 25% holdings

Question 12

What is Integrity under the 5 rules of conduct?

Answer 12

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

Question 13

What is competence under the 5 rules of conduct?

Answer 13

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

Question 14

What is service under the five rules of conduct?

Answer 14

Members and firms must provide good quality and diligent service

Question 15

What is respect under the 5 rules of conduct?

Answer 15

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

Question 16

What is responsibility under the five rules of conduct?

Answer 16

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 17

Give me an example of integrity?

Answer 17

When we were under offer to a party on an industrial unit, I let the other interested parties know that were would not be able to proceed further. I also did this because we ensured exclusivity when under offer to the party

Question 18

Give me an example of competence?

Answer 18

Our company has quarterly project reviews and I lead on presentation to the board for a project in Bicester

Question 19

Give me an example of good quality and diligence service?

Answer 19

Landowner option negotiations on land in Bicester, collating a lot of plans, information and supporting information. 2 different 450 page documents to two landowners

Question 20

Give me an example of respect?

Answer 20

Ensuring that the consultants I work with have enough time to undertake tasks competently by instructing them as early on in the process as possible

Question 21

Give me an example of responsibility?

Answer 21

I am the coordinator for investment memorandum papers and ensure that they are presented in a good and timely manner

Question 22

If you don’t know what decision to take ethically, what should you consult?

Answer 22

Ethical decision tree

Question 23

What does the ethical decision tree do ?

Answer 23

It provides a framework of questions which members should ask themselves when they are facing a situation in which they are asked to act in a potentially unethical manner or situation?

Question 24

What does the RICS say about the use of social media? And when would / wouldn’t they step in?

Answer 24

Notes the importance of social media

Likely to investigate discrimination, dishonesty, abuse, bullying

Unlikely to investigate criticism of organisations, use professional language, posts which are removed

Question 25

Give 2 examples of an international standard?

Answer 25

Rics Valuation global standards 2021 (jan 2022)
IPMS 2019

Question 26

Give two examples of a professional statement?

Answer 26

Conflicts of interest, global 2017
Property measurement 2018
Code for leasing business premises 2020
Client money handling 2019

Question 27

What’s an example of a practice statement?

Answer 27

Surveyors acting as an expert witness 2014 (amended 2020)
Surveyors acting as advocates (scotland) 2008

Question 28

What’s 2 examples of a guidance note?

Answer 28

RICS surveying safely 2018
Valuation of development property 2019
Comparable evidence in Real Estate valuation 2019
Assessing viability in planning under the NPPF 2021
Asbestos - legal requirements and best practice for property professionals and clients 2021

Question 29

2 examples of codes of practice?

Answer 29

Code of measuring practice 2015
Rating consultancy code of practice 2017
Service charge residential management code 2016

Question 30

What are the 3 steps to handle a conflict?

Answer 30

Step 1- conflict avoidance - is it irresolvable?
2- written advice to both parties for consent
3-conflict management eg info barrier

Question 31

What does the 1980 limitation act say about the limitation periods for contract and tort law?

Answer 31

Contract - 6 years from the negligent act, breach of contract or omission
Tort- 6 years from when claimant suffered loss

Question 32

Steps to avoid negligence: 6

Answer 32

Clearly understand client sobjectives

Ensure your competency

Ensure the work is in accordance with RICS standards

Make detailed notes and photographs

Keep up to daye with market knowledge

Cap the PII in the TOE

Question 33

What should you do when closing a RIcS practice? 5

Answer 33

Inform clients
Inform RICS
Return client money
Inform ensurers regarding PI and run off cover for 6 years
Retain a copy of the client fees and records for 6 years