Ethics

Question 1

What are the 5 global and professional ethical standards

Answer 1

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

Question 2

Why does the RICS have it’s ethical decision tree

Answer 2

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

Question 3

Who is the RICS president

Answer 3

Timothy Neal

Question 4

What is the role of the governing council

Answer 4

Management of the royal charter obligations
Set top level strategy
Meet x2 per year
Delegates to boards

Question 5

How many group boards

Answer 5

17

Question 6

Name the 3 types of conflict of interests

Answer 6

Party conflict
Own interest conflict
Confidential information conflict

Question 7

Define a party conflict of interest

Answer 7

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

Question 8

Define an own interest conflict

Answer 8

A situation where a RICS member acting for a client in a professional assignment conflicts with the interest of that same RICS member

Question 9

Define a confidential information conflict

Answer 9

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

Question 10

What is informed consent

Answer 10

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

Question 11

5 rules of conduct and better regulation for members

Answer 11

Proportionality
Accountability 
Consistency 
Targeting
Transparency

Question 12

How many hours of CPD for members

Answer 12

20 hours by 31st December 10 of which must be formal

Question 13

When were the byelaws approved

Answer 13

5th November 2008

Question 14

How many byelaw areas

Answer 14

10

Question 15

When was the bribery act

Answer 15

2010

Question 16

What is active bribery

Answer 16

Offering a bribe

Question 17

What is passive bribery

Answer 17

Accepting a bribe

Question 18

When can RICS members accept gifts

Answer 18

When they are customary, proportionate and reasonable in terms of value and frequency

Question 19

What is the latest RICS guidance on complaints handling

Answer 19

July 2016 1st edition

Question 20

What should all complaints handling procedures contain

Answer 20

Alternative dispute resolution

Question 21

When was the latest RICS client money handling professional statement published

Answer 21

October 2019

Question 22

What is the OJEU

Answer 22

Official journal of the European Union

Question 23

Types of public procurement procedures

Answer 23

Open
Restricted 
Competitive negotiated
Competitive dialogue 
Innovation partnership
Design contest

Question 24

Types of disciplinary action

Answer 24

Fixed penalty
No further action
Regulatory compliance order
Refer to the conduct and appeal committee
Refer to the disciplinary panel

Question 25

What is the disciplinary registration and appeals panel

Answer 25

Defines the disciplinary process

Question 26

When were the disciplinary registration and appeals panel rules updated

Answer 26

Version 8 was updates on the 1st October 2019

Question 27

What level of public indemnity insurance should an RICS firm have

Answer 27

Turnover of £100,000 or less = £250,000
£100,001- £200,000 = £500,000
£200,000 + = £1 million