Ethics L1

Question 1

When was the RICS founded?

Answer 1

1868

Question 2

What does the Royal Charter require from the RICS?

Answer 2

Charter requires the RICS to promote the usefulness of the profession for the advantage of the UK public and in other parts of the world. In practice, the charter means that important changes to our constitution – its bye-laws – have to be ratified by the UK Government, through the Privy Council, even after they’ve been approved by a majority of our members voting at a general meeting.

Question 3

When was the Royal Charter granted?

Answer 3

By the Privy Council in 1881

Question 4

How many qualified members

Answer 4

130000

Question 5

Describe the difference levels of membership

Answer 5

FRICS, MRICS, AssocRICS, Trainee

Question 6

How do you become a fellow

Answer 6

Evidence of four fellowship characteristics,
5 years + at MRICS level,
leadership role,
professional achievement,
academic achievement or
raising the profile of the RICS. Portfolio of professional achievement and include CPD record

Question 7

Describe the Governance structure

Answer 7

Governing Council (highest governing body) - 25 members
Standards and Regulation Board / Management Board / audit committee report to Governing Council and various comittees (audit commitees
17 specialist groups covering land and property and is responsible for outlining standards of competence and practice

Question 8

Describe the role of the Governing Council

Answer 8

25 members - run the RICS, providing management and strategic direction. Is the highest governing body, setting global strategy and ensures the RICS fulfils its Royal Charter obligations. Provides strategic oversight on requirements on entry into profession and enforcement of professional standards so that we continue to deliver confidence in the built environment.

Question 9

Describe the role of the Standards and Regulation Board

Answer 9

has exclusive responsibility for strategy, policy and operational oversight of the standards, entry and admission to the profession (through RICS’ education and qualification standards), and regulatory functions of RICS.

Question 10

Describe the role of the management board

Answer 10

purpose is to direct RICS affairs under delegated authority from Governing Council

Question 11

Name the chair of the Governing Council (Interim)

Answer 11

Nicholas Maclean

Question 12

Name the chief executive officer (UK)

Answer 12

Sean Tompkins - stepped down from position - check RICS website

Question 13

Name the current president

Answer 13

Clement Lau

Question 14

Name the role of the RICS

Answer 14

• To maintain the highest standards of education and training
• To protect consumers through strict regulation of professional standards
• To be the leading source of information and independent advice on land, property and construction -

Question 15

How do RICS firms deliver transparency

Answer 15

Through the use of - Standards documents lay out the ethical, conduct and competence related standards for the profession. Allows professional members / RICS firms to deliver transparency.

Question 16

Name the RICS Global Professional and Ethical standards (5)

NEED TO THINK OF EXAMPLES WITHIN CASE STUDY

Answer 16

• Act with Integrity (be honest and straightforward in all that you do)
• Always provide a high standard of service (ensure your client receives the best possible advice, support and performance of the ToE you have agreed)
• Act in a way that promotes trust within the profession (act in a manner that promotes you, your firm and the profession in a positive way)
• Treat others with respect
• Take responsibility (be accountable for your actions)

Question 17

Describe the Ethics Decision tree

Answer 17

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

Question 18

Name the document that sets out rules of RICS

Answer 18

Rules of Conduct for Members, 2007, ammended 2020

Rules of Conduct for Firms, ammended 2020

Question 19

What is the role of the Rules of Conduct for Firms / Members

Answer 19

Set out standards of professional conduct and practise expected of members and firms.

Question 20

Name the five principles of better regulation

Answer 20

• Proportionality
• Accountability
• Consistency
• Targeting
• Transparency

Question 21

Describe 7 rules within Rules of Conduct for members (ECS CPD SIC)

Answer 21

ECS CPD SIC
• 3. Ethical Behaviour – members should act with integrity, avoid conflicts of interest and any actions which are inconsistent with professional obligations
• 4. Competence – members should carry out professional work with skill, care and due diligence
• 5. Service – members should carry out work in timely manner
• 6. Continuing Professional Development (CPD) – members should comply with RICS CPD requirements
• 7. Solvency – ensure personal and professional finances are managed appropriately
• 8. Information to RICS – submit information in timely manner
• 9. Cooperation – fully cooperate with RICS staff

Question 22

When do firms have to Register with the RICS

Answer 22

• If firms have 50% of employees are RICS members and provide surveying services to the public, firm is required to register for regulation by RICS
• Firms with 25% RICS qualified principals are eligible to register

Question 23

When can the RICS logo be used

Answer 23

only be used by RICS regulated firms

Question 24

Describe 7 rules under Rules of Conduct for Firms 2020 - PCS CPD CCI

Answer 24

PCS CPD CCI
3 Professional behaviour - A Firm shall at all times act with integrity and avoid conflicts of interest and avoid any actions or situations that are inconsistent with its professional obligations.
4 Competence - A Firm shall carry out its professional work with due skill, care and diligence and with proper regard for the technical standards expected of it.
5 Service - A Firm shall carry out its professional work with expedition and with proper regard for standards of service and customer care expected of it.
6 Training and Continuing Professional Development (CPD) A Firm shall have in place the necessary procedures to ensure that all its staff are properly trained and competent to do their work.
7 Complaints handling A Firm shall operate a complaints-handling procedure and maintain a complaints log. The complaints-handling procedure must include an Alternative Dispute Resolution (ADR) mechanism that is approved by the Standards and Regulation Board.
8 Clients’ money A Firm shall preserve the security of clients’ money entrusted to its care in the course of its practice or business.
9 Indemnity A firm shall ensure that all previous and current professional work is covered by adequate and appropriate indemnity cover which meets standards approved by the Standards and Regulation Board.

Question 25

Describe the hierarchy of RICS publications

Answer 25

International Standards – Mandatory
Professional Statements – Mandatory
Practise Statements – Mandatory
Guidance Notes – not mandatory but provided by RICS to promote good practise
Code or Practise – same status as guidance note, recommended good practise

Question 26

Name benefits of RICS membership

Answer 26

status (client confidence), recognition (professional excellence), market advantage (RICS status and standards), knowledge, Network

Question 27

Name rules of conduct for firms (part 3)

Answer 27

Part III Firm Administration
10 Advertising A Firm shall promote its professional services only in a truthful and responsible manner.
11 Solvency A Firm shall ensure that its finances are managed appropriately.
12 Arrangements to cover the incapacity or death of a sole practitioner A Firm which has a sole principal (i.e. a sole practitioner or a sole director in a corporate practice) shall have in place appropriate arrangements in the event of that sole principal’s death or incapacity or other extended absences.
13 Use of designations A Firm registered for regulation must display on its business literature, in accordance with the Standards and Regulation Board’s published policy on designations, a designation to denote that it is regulated by RICS.
14 Information to RICS A Firm shall submit in a timely manner such information about its activities, and in such form, as the Standards and Regulation Board may reasonably require.
15 Cooperation A Firm shall cooperate fully with RICS staff and any person appointed by the Standards and Regulation Board.