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Ethics & Manditorys Flashcards

1
Q

what is the FG’s CHP?

A
  1. CHP is submitted in Terms of business.
  2. Complaint comes in, we resubmitted to the CHP.
  3. Complaint comes in in writing, we establish that the extent.
  4. Log details
  5. Raised with the Complaints Handling officer.
  6. Acknowledgement is within 5 (7 is the limit) days and investigation is with 15 (28 is the limit) days.
  7. We ensure that the complainer is informed of the details, progress and outcome.
  8. And if they don’t agreed with the outcome, we provide them with the Alternative dispute resolution third party details to show them where the claim has been escalated to.
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2
Q

Lone Working procedure?

A

-Texting a group chat before and after, giving information or time, location and client within the message.
- More details on Fishnet.

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3
Q

RICS Rules of Conduct - published and effective dates?

A

Published - October 2021
Effective - 2nd February 2022

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4
Q

Social media RICS Guidance?

A

Use of social media: Guidance for RICS members 2024.

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5
Q

RICS H&S guidance (professional standard) and published date?

A

Surveying Safely 2nd edition 2018

Comply with H&S 1974

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6
Q

Act regulating protection of individuals data?

A

Data Protection Act 2018

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7
Q

Legislation for limitation and timelines in negligence claims?

A

Limitation Act 1980

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8
Q

The 15 year extension long- stop to negligence claims. Where does this come from?

A

S15a of the Limitations Act 1980

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9
Q

RICS guidance on professional indemnity insurance?

A

Prefessional Indemty Insurance Version 10 (2024)

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10
Q

RICS guidance relating to client money handling?

A

RICS Professional Standard: Client Money Handling, 2019

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11
Q

The act regulating bribery? and the RICS guidance?

A
  • Bribery Act, 2010
  • RICS Professional Statement: Countering Bribery and Corruption, Money Laundering and Terrorist Financing, 2019
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12
Q

What UK act governs money laundering?

A

Money Laundering, Terrorist Financing and Transfer of Funds regulations 2017

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13
Q

What is the key UK health and safety legislation? and what the RICS guidance?

A
  • Health and Safety at Work Act 1974 (as amended 1995 and 1999).
  • RICS Professional Standard: Surveying Safely, 2nd edition 2018 - effective Feb 2019.
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14
Q

What are the UK regulations for PPE?

A

PPE at Work Regulations 2022.

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15
Q

RICS guidance on conflict of interest?

A

RICS Professional (Standard): conflict of interest 2017.

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16
Q

RICS guidance on complaints handling?

A

RICS guidance note: complaints handling 2016.

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17
Q

What act regulates diversity and inclusion within the workplace?

A

Equality act 2010

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18
Q

What is the UK act that sets out emission reduction targets?

A

Climate change act 2008

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19
Q

What is the punishment for bribery?

A

Individual = 10 years prison or unlimited fine.
Company = unlimited fine.

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20
Q

What is the punishment for money laundering?

A

Assisting = 14 years in prison and unlimited fine.
Tipping off/informing someone they are under suspicion = 5 years.

21
Q

Anti-money laundering – what are the three levels are due diligence?

A

1- Simplified due diligence.
2- regular customer due diligence.
3- enhanced due diligence

22
Q

What anti-money laundering checks do you undertake on individuals?

A

ID verification and checks against any previous addresses, employment and income.

Using passport, bank statement, council tax statement, utility bill

23
Q

What are the red flags of anti-money laundering?

A
  • Unwillingness to provide ID.
  • Changes to parties during transaction.
  • Payment of fees in foreign currency.
  • Unusual features E.G.urgency, possible lossmaking.
24
Q

What uninsured excess is required for PII by the RICS?

A
  1. Up to £10 million turnover in previous years - 2.5% or £10,000, whichever is greater.
  2. Over £10 million turnover in previous year - no limit.
25
What is the legislation for asbestos? Penalties?
- Control of Asbestos Regulations 2012 - £20,000 or 6-12 months prison.
26
What legislation regulates EPC is in the UK? Penalties?
Energy efficiency (private property) Regulations 2015. Domestic - £200 Commercial - 12.5% of rateable value (min £500 to max £5000)
27
Legislation for Bribery?
Bribery Act 2010
28
Six Key Principles under the Bribery Act 2010?
1. Proportionality 2. Top Level Commitment 3. Risk assessment 4. Due Diligence 5. Communication 6. Monitoring and review
29
Four offence in the Bribery Act 2010?
1. Bribing 2. Receiving a bribe 3. Bribing a foreign public official 4. Failing to prevent a bribe
30
Penalty for a bribe?
- Maximum of 10 years in prions - Unlimited fine for individuals and firms
31
Money Laundering Act? and whats the RIC statement?
- Terrorist Financing and Transfer of Funds Regulations, 2017 (amended 2022) - RICS Professional Statement: Countering Bribery and Corruption, Money Laundering and Terrorist Financing, 2019?
32
Terrorist Financing and Transfer of Funds Regulations, 2017 (amended 2022) Key provisions? (9) (Number 8 is the main one).
1 Written money Laundering Risk Assessment 2 System and Polices 3 Internal Controls 4 Provide Staff Training 5 Comply with Customer enhanced requirements 6 Requirements for PEP 7 Record Keeping 8 AML checks must be undertaken to con firm the identical of a purchasers and check source of funds. 9 Include High-risk factors when assessing for enhanced due-diligence.
33
When do Lettings agents have to register with HMRC for AML checks on lettings?
When the rent is more or equivalent to £10,000/month
34
Who do Consumer Due diligence checks applies to? (4)
1. Vendor 2. Purchaser 3. Landlord 4. Tenant
35
When to do Enhanced Due diligence checks?
when Red flags occur
36
What info do you need for CDD Checks?
- ID - Company info (number, address, names) COMPANIES HOUSE - Names of directors - Information about intended use
37
Who needs EDD Checks?
- Additional procedure for 'High-risk countries' or 'Politically exposed Person' (PEP) and family members. Need more evidence and monitoring. PEP are at a high risk of bribery
38
Fines for Money Laundering?
14 years unlimited money
39
FG Gift Policy?
- £50 Limit - Consideration if proportional - Declare of gifts form to Division Managing Partner - Intention - Open environment - Hospitality needs to consider business interests - How would you like that gift to be previiedif it was public.
40
Crime Act 2002 offences? (3) (estate agency)
- Concealing Criminal Property - Knowledge or suspicion - Possession of criminal property.
41
The 3 parts to RICS Professional Statement: Countering Bribery and Corruption, Money Laundering and Terrorist Financing, 2019?
1. Bribery & Corruption, Money laundering & Terrorist Finance 2. Guidance 3. Supplementary Guidance
42
What PII guidance?
PII Requirements version 10 1st July 2024
43
RICS Charity?
Lionheart
44
What are the 5 principles for better regulation? PACTT
Proportionally Accountability Consistency Targeting Transparency
45
What does sustainability mean to you?
Meeting the requirements of present-day without compromising needs of tomorrow.
46
Name your company's ADR for valuation?
Centre for Effective Dispute Resolution (CEDR)
47
What's arbitration? and is there an Act?
- Can order a Hearing - have specialise knowledge - rely on infomation supplied - Surveyor can be but have to pass exams Arbitation Act 1996
48
Who is FGs Complants Officer?
Sanjay Patel

APC JE (23 decks)

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