Ethics and Mandatory Flashcards
Name some of the rules of conduct and give an example of how you have met these in your work.
Members and firms must be honest, act with integrity and comply with their professional obligations, including obligations to RICS.
Members and firms must maintain their professional competence and ensure that goods and services are provided by competent individuals who have the necessary expertise.
Members and firms must provide good-quality and diligent service.
Members and firms must treat others with respect and encourage diversity and inclusion.
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.
When did the RICS Rules of Conduct come into effect?
2nd February 2022
What are the Ethical Standards?
Act with integrity.
Always provide a high standard of service.
Act in a way that promotes trust in the profession.
Treat others with respect.
Take responsibility.
What are the CPD requirements post-APC?
20 hours, of which 10 must be formal.
Recorded online.
You say you are conscious of interacting with tenants or clients in your personal time. If a friend asks you to value their farm one night at the pub, what would you do and why?
Decline, on the basis that as an individual I am not registered with RICS, I do not have individual PII or run-off cover, a complaints handling officer or have a locum in place. Therefore, I am unable to operate individually.
Alternative answer, on qualifying I will not be a RICS Registered Valuer and therefore not qualified to provide valuation advice. I would refer the friend to a colleague who has the necessary expertise to advise them.
What act governs a gift policy?
The Bribery Act 2010
What is your company’s procedure for handling conflicts of interest?
Check firms policy.
Can you give me another example of an ethical situation you have been involved in and the advice given?
Tenant requested information about future of farming out with working hours and in public place. I asked that they contacted me during working hours to discuss. I then advised that a meeting should be set up to explore future options with this individual.
When was RICS founded?
1868
What does RICS stand for?
Royal Institution of Chartered Surveyors
Give me and example of when you have acted with honesty and respect?
Personal answer.
What factors impact your choice of communication?
When conducting agricultural rent reviews the choice of communication is determined by the TFC’s recommended process, i.e. use of letters sent by recorded delivery.
In other situations, the tenant/client may determine the method by way of considering eyesight or hearing loss. Communication may also be determined by the type of negotiation and whether it requires an email follow up confirming the items discussed/agreed.
What is your companies loan working policy?
Personal answer.
Name some of the rights under GDPR?
Right to…
be informed
of access
of rectification
to erasure
to restrict processing
to data portability
to object
related to automated decision making including profiling
Who governs GDPR in the UK?
Information Commissioner’s Office (ICO)
Talk me through some dispute resolution procedures?
Mediation, arbitration and expert witness.
What is the difference between mediation and arbitration?
Mediation is the simplest form of dispute resolution where the parties meet with a mediator, who attempts to find an acceptable settlement between the parties. Arbitration is governed by the Arbitration (Scotland) Act 2010 and is a process where the arbitrator’s decision must be accepted by both parties, it is legally binding.
Define an inclusive environment.
In an inclusive environment, people of all cultural orientations can: freely express who they are, their own opinions and points of view.
You say you attended a CPD course on X - what did you learn?
Personal answer.
Who is the President of RICS?
Clement Lau
How would you manage a conflict of interest?
On identifying the potential conflict, I would liaise with my superior to advise all parties of the potential conflict. I would then present options to address the conflict of interest enabling the party(ies) to decide how to proceed.
What is the difference between a P&L account and a balance sheet?
Balance sheet = statement of assets, liabilities and capital.
P&L = statement of income and expenses.
What would you do before undertaking a site visit on your own?
I would inform someone in the office of where I am going, what time I plan to arrive and what time I plan to be back in the office. I would ensure that member of staff has my mobile number to contact me in case of emergency.
What is PII? Why is it required?
Personal Indemnity Insurance protects against claims for loss or damage made by clients or third parties as a result of the impact of negligent services you have provided or negligent advice you have offered.
