Ethics Mock Questions

Question 1

Tell me what you understand about conflicts of interest.

Answer 1

Someone has a competing personal or professional interest making it difficult for them to fulfil their duties impartially.

Question 2

How could the conflict of interest be managed internally if two separate departments were working for the same client?

Answer 2

• Exclusivity of staff
• separate communication lines
• sign NDAs
• monitor potential conflict

Question 3

If the client was insistent that you work for them despite an existing conflict of interest, how would you proceed?

Answer 3

• Check the client understands the conflict and the potential for reduced impartiality.
• Informed consent
• Procedures to manage conflict
• Agree in writing

Question 4

Minimal levels of PII cover for firms?

Answer 4

• RICS has a standard form that determines minimum levels.
• Turnover based.

Question 5

What are the maximum levels of uninsured excess?

Answer 5

• Depends of firms turnover in the proceeding year.
• Turnover £10m or less then maximum uninsured excess is the greater of 2.5% of the sum insured or £10,000
• If turnover exceeds £10m or above there is no limit set.

Question 6

What types of insurances do firms require?

Answer 6

• PII
• Building/Contents
• Employer Liability
• Run-off

Question 7

What are the new rules of conduct?

Answer 7

Rule 1 - Members and firms must be honest, act with integrity and comply with their professional obligations, including obligations to RICS.

Rule 2 - Members and firms must maintain their professional competence and ensure that services are provided by competent individuals who have the necessary expertise.

Rule 3 - Members and firms must provide good-quality and diligent service.

Rule 4 - Members and firms must treat others with respect and encourage diversity and inclusion.

Rule 5 - 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.

Question 8

Why did the previous rules of conduct change?

Answer 8

• Existing had been in place since 2007.
• Following consultation with Members, firms and the public.
• Greater focus on clarity.
• Clearer examples, incorporating evolving technology and tackling climate change.

Question 9

What are the main principles of the Bribery Act?

Answer 9

• Offences: Making, receiving, bribing a foreign public official, failure to prevent a bribe.
• Includes associated persons.
• 6 principles of prevention - 1. Proportionate Procedures, 2. Top Level Commitment 3. Risk Assessments 4. Due Diligence 5. Communication 6. Monitoring and Review.

Question 10

Under the bribery act, under what circumstance is a facilitation payment permitted?

Answer 10

-Okay when you are under duress.
- Threat to life etc.

Question 11

A contractor you are working with offers you an iPad, how do you proceed?

Answer 11

• Decline politely - suggest it is donated to charity.
• Timing - inappropriate as still working with party.
• Register in gift register and report to line manager.