Ethics - RICS Core Material

Question 1

What is the new category of core material that is replacing Professional Statements and Guidance Notes?

Answer 1

It is called a Professional Standard

Example: Professional Standards are set requirements or expectations for RICS members and regulated firms

Question 2

What is the RICS in the process of reviewing and re-categorising to become Professional Standards?

Answer 2

All current Professional Statements and Guidance Notes

Example: The RICS regularly updates its website with the changes in categorisation

Question 3

What are RICS Professional Standards?

Answer 3

‘Set requirements or expectations for RICS members and regulated firms about how they provide services or the outcomes of their actions’

Example: Professional Standards may include mandatory requirements and recommended best practices

Question 4

What is RICS Practice Information?

Answer 4

Information to support the practice, knowledge, and performance of RICS members and regulated firms

Example: Practice Information includes good practice, information, insights, and processes

Question 5

What are RICS Practice Alerts?

Answer 5

Key tools for warning or alerting the profession to emerging areas of risk over which the RICS has concerns

Example: Practice Alerts can include updates on legislative requirements and emerging risks