Ethics Flashcards
What are the 5 global and professional ethical standards
Act with Integrity
Always provide a high standard of service
Act in a way which promotes trust within the profession
Treat others with respect
Take responsibility
Why does the RICS have it’s ethical decision tree
The flowchart decision tree helps members make ethical decisions. It considers; The facts Legality Ethical standards Consultation of the appropriate people Clear reasoning Impact if actions were made public
Who is the RICS president
Timothy Neal
What is the role of the governing council
Management of the royal charter obligations
Set top level strategy
Meet x2 per year
Delegates to boards
How many group boards
17
Name the 3 types of conflict of interests
Party conflict
Own interest conflict
Confidential information conflict
Define a party conflict of interest
A situation where a RICS member or firm is acting in the interest of a client in a professional assignment has a conflicting interest with another client or party within the same related professional assignment
Define an own interest conflict
A situation where a RICS member acting for a client in a professional assignment conflicts with the interest of that same RICS member
Define a confidential information conflict
A conflict between the duty of an RICS member to provide a client with all information relating to the professional assignment and the duty of an RICS member to maintain confidentiality of information unless required or permitted by law to disclose that information
What is informed consent
Consent given willingly by a party who may be effected by a conflict of interest understanding that:
There is a conflict of interest
Knows the facts material to the conflict of interest provided by the RICS member
And that the conflict of interest may affect the RICS members ability to advise or act fully in the interests of the client
5 rules of conduct and better regulation for members
Proportionality Accountability Consistency Targeting Transparency
How many hours of CPD for members
20 hours by 31st December 10 of which must be formal
When were the byelaws approved
5th November 2008
How many byelaw areas
10
When was the bribery act
2010
What is active bribery
Offering a bribe
What is passive bribery
Accepting a bribe
When can RICS members accept gifts
When they are customary, proportionate and reasonable in terms of value and frequency
What is the latest RICS guidance on complaints handling
July 2016 1st edition
What should all complaints handling procedures contain
Alternative dispute resolution
When was the latest RICS client money handling professional statement published
October 2019
What is the OJEU
Official journal of the European Union
Types of public procurement procedures
Open Restricted Competitive negotiated Competitive dialogue Innovation partnership Design contest
Types of disciplinary action
Fixed penalty No further action Regulatory compliance order Refer to the conduct and appeal committee Refer to the disciplinary panel
What is the disciplinary registration and appeals panel
Defines the disciplinary process
When were the disciplinary registration and appeals panel rules updated
Version 8 was updates on the 1st October 2019
What level of public indemnity insurance should an RICS firm have
Turnover of £100,000 or less = £250,000
£100,001- £200,000 = £500,000
£200,000 + = £1 million