Ethics Level 1 Flashcards
What is your RICS membership number?
6846826
Who is the president of the RICS
Clement Lau FRICS
Who is the president elect of the RICS?
Ann Gray
What is the role of the RICS
Is to promote and enforce the highest professional standards in the development and management of land, real estate, construction and infrastructure.
What do the new Rules of Conduct do?
Support positive change in the built and natural environment - through promoting and enforcing the highest ethical standards in
Valuation
The development and Management of land
Real Estate
Construction
Infrastructure
And provides a structure for making ethical decisions about how to behave as a professional
What ethical principles are the New Rules of Conduct based on?
Honesty
Integrity
Competence
Service
Respect
Responsibility
What is a Royal Charter?
An instrument of incorporation granted by the king, which confers independent legal personality on an organisation and defines its objectives, constitution and powers to govern its own affairs
What do you understand about the term self- regulation ?
RICS operates under self-regulation meaning Individuals (members) are not regulated by government but are internally monitored and inspected
What are the principles of better regulation
5 principles which were identified by the better regulation task force in 1997
-proportionality
- Accountability
- Consistency
- Transparency
- Targeting
What is a bye-law?
A law that is made by an organisation, club or association that people or members of the organisation must abide by
Give 1 example of the RICS bye-laws
Members must conduct themselves in a manner of benefiting membership of the RICS
Explain the New Rules of Conduct?
The RICS Rules of Conduct have recently been updated in order to help the global profession respond to new risks and opportunities. The new rules provide a simpler structure and focus on respect, diversity and inclusion.
They apply to ALL MEMBERS AND FIRMS regulated by the RICS
When do the new Rules of Conduct take effect?
2nd Feb 2022
Who do the new RICS Rules of Conduct relate to?
All Members and Firms regulated by the RICS
What are the 6 ethical principles that the Rules of Conduct are based on?
Honesty
Integrity
Competence
Service
Respect
Responsibility
What is Rule 1 of the Rules of Conduct?
All members and firms must be HONEST, act with Integrity and comply with their professional obligations, including obligations to the RICS
Give 2 Example behaviors of Rule 1 of the Rules of Conduct
- Members and Firms are OPEN and TRANSPARENT with clients about FEES AND SERVICES
- Members and Frims DO NOT allow themselves to be influenced improperly by others or by their own self interests
- Members Do Not MISUSE CLIENT MONEY and comply with controls intended to keep it safe
What is Rule 2 of the Rules of Conduct?
Members and Firms must MAINTAIN THEIR PROFESSIONAL COMPTENECE and ensure services are provided by competent individuals who have the necessary expertise.
Give two examples behaviors for Rule 2
- Members and Firms ONLY UNDERTAKE WORK that they have the KNOWLADGE, SKILLS and RESOURCES to carry out competently
- Members MAINTAIN AND DEVELOP THEIR KNOWLADGE AND SKILLS THROUGHOUT THEIR CARER - plan and undertake CPD activities.
What is Rule 3 of the Rules of Conduct?
Members and Firms must PROVIDE GOOD-QUALITY and DILIGENT SERVICE