Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

APC Mandatory > Ethics, Rules of Conduct and Professionalism > Flashcards

Ethics, Rules of Conduct and Professionalism Flashcards

1
Q

Who are the RICS

A

The Royal Institution of Chartered Surveyors.
- Global leading professional body
-Promoting the highest standards in the property industry.
-Gold standard of professional recognition.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What are ethics

A

Behaving morally and doing the right thing.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

RICS Structure

A
  • Privy Council
  • Governing Council (Headed by Clement Lau)
  • Split into regulatory board, audit comittee, management board.
    -134k members
    -20 specialist groups
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

RICS is self regulated, what are the benefits

A

-Sets out leading standards of ethics, rules and conducts.
- RICS standards meet and surpass this of the government.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

What documents should firms follow

A

Rules of Conduct for firms 2 March 2020 (version 7)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Who does ethics apply to?

A

All firms and members.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What are the 5 ethical standards?

A
  • Act with integrity
  • High standard of Service
  • Promote trust in the profession
  • Treat others with respect
  • Take responsibility
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Benefits of being in the RICS

A
  • Professional standard
  • Professional status
  • Global recognition
  • Market advantage
  • Networking events
  • Gold standard
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What is your companies complaints handling procedure?

A
  • Speak to Gavin
  • We will respond in writing within 7 days, complainer invited to make comments
  • Respond with the outcome of investigation in 21 days to outline actions taken.
  • Refer to RICS dispute resolution service
  • If dissatisfied go to ADR.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

How do rules of conduct affect a business?

A
  • Have a complaints handling procedure
  • Insurance
  • Training
  • Don’t hold clients monies
  • Co operate with RICS and remain solvent.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Why were ethics introduced

A

Global approach (2015)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What is IESC

A

International ethics standards coalition, international ethics approach

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

What documents sets out rules for members

A

RICS Rules of Conduct for members 2 March 2020

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

CPD Hours

A

Once chartered 20 hours per year, 10 formal and 10 informal, when doing APC, 48 hours each training year.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

When was the RICS formed

A

1868

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Minimum levels of indemnity required

A

All based on turnover, 100k turnover = 250k needed, 100k-200k = 500k needed, 200k + = 1m needed

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

What would you do if you received a late tender?

A
  • Non compliant tender
  • Record within tender report
  • Advise client not to proceed as per JCT tendering guidance
  • Clients decision if its a private client
18
Q

What am I obliged to do if I suspect money laundering

A

Do not take cash
Report suspicious activity to national crime agency
Government HMRC fraud line

19
Q

Suspect modern slavery

A

Check ID and CSCS
Modern slaverly helpline

20
Q

What is meant by infringement

A

Breach of rules, ethics or bylaws
Not fulfilling CPD

21
Q

What is firms tender procedure

A

Return of tender at stipulated date
Open with senior surveyor
Complete tender opening form

22
Q

What would you do if you over valued?

A

Make parties aware
issue a pay less notice
request the contractor transfers funds back

23
Q

What are the RICS requirements regarding PII

A
  • Each and every claim basis
  • Sets levels of indemnity required
  • run off cover needed
24
Q

What constitutes as a bribe

A

Giving and recieving, bribing a public official, failure to stop a bribery

25
Q

What happens if I get approached outside of business

A

Decline, business PPI would not cover it and have no personal PPI. Approach firm directly to review

26
Q

How to ensure no tender collusion

A

Tenders issued separately so competing contractors don’t know who else is competing

27
Q

What if a client proceeds despite conflict

A

must give written consent
put in place information barriers
still exercise professional judgement

28
Q

Guidance for conflicts

A

RICS guidance conflict of interest 1st Ed

29
Q

What to include in fee proposals

A

Terms of business inc complaints handelling
scope of services
limitations
fee

30
Q

How to ensure a tender is fair

A
  • Price based on same info
  • in accordance with JCT tendering practise note 2017, covers documents involved, criteria and compliance
  • Ensure contractors capability carry out
  • Open at the same time.
31
Q

What law governs bribery

A

Bribery act 2010, stipulates what constitutes as bribe

32
Q

What must firms do in terms of money laundering

A
  • Have systems in place
  • identity checks
  • ## Report suspicion
33
Q

What do you need to set up your own firm?

A

RICS
-Register with RICS
-Complaints handelling procedure
-pay the fees
-implement training programme

Statutory
-H&S at work act
-PLI
-Employers liability
-Building and contents insurance
-PII
-Register company name
-Data protection act
-HMRC

34
Q

What is in the JCT practise note on tendering?

A
  • Model forms for enquiry letter and pre qualification questionnaire
  • Guidance for suggested number of contractors
  • Guidance for tender compliance
  • Guidance for extending tender
  • Examination of tenders
  • recommendations to client.
35
Q

Money laundering regulations

A

Money laundering regs 2017 (amended 2020)
- sets out red flag indicators
RICS Countering bribery, corruption, money laundering and terrorist financing (1st ed) professional statement 2019.

36
Q

What is the RICS course of action in the event of an infringement

A

3 stage
- Action by head of regulations (minor)
Fixed penalties up to 2k
correction order to become compliant over a period of time.
refer to disciplinary panel
- Disciplinary panel
serious breaches
penalties, fines, suspensions, expulsion
- Appeals panel

37
Q

what conflicts of interest can you think of

A

Dilaps, acting against a colleague
Personal relationship

38
Q

What would you do if you received a gift from a contractor

A
  • see anti bribery policy
  • company decide what is appropriate
  • put on internal gift register
39
Q

What would you do if you were asked to reduce a fee proposal to win business?

A
  • RICS professional ethics guidance suggests firms should avoid price fixing, aggressive fee cutting
  • should not de value the profession
  • scope of services can be negotiated
40
Q

How do you QA

A
  • Spell and grammar
  • senior surveyor
    -check photos
    -review against original scope
    -

APC Mandatory (11 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions