Ethics, rules of conduct and professionalism Flashcards
Level 3 - Rules of conduct
Give me an example of when you have acted with integrity and/or Ethically?
During my project in London where I managed the tender process, three out of five tendering contractors pre-occupied the estate carrying out various works.
The winning tender bid was submitted by a non-resident contractor.
Due to the estate hosting constraints the PM asked me to disclose the winning bid and negotiate the price with a contractor already situated on-site.
I advised the PM that I was unwilling to do so as it is unethical and goes against the fair competitive tender process conducted.
Level 2 - Registration of Firms
Explain the key steps you would take if you decided to set up a regulated firm after qualifying.
- Register with RICS
- Obtain appropriate Insurance ( PII, Employers & Public Liability)
- Forward think of potential clients I can engage
- Set-up complaints handling procedure
- Open business bank account
- Put in place relevant policies (H&S, equal oppurtunities)
- Advertise properly & use correct designations
Level 1 - Insurance
If you were to set up your own regulated firm, tell me about the types of insurance, you would need.
- Professional Indemnity
- Run-off cover
- Employers liability
- Public liability
Level 1 - Insurance
What is Run off cover?
- Insurance that ensures members, firms and their clients are not exposed to financial detriment following a firms ceasing to trade.
- £1million in all limit for 6 year period
Level 3 - Rules of conduct
On your project in London, how did you respond to the request to share sensitive information?
- I refused
- Informed my director
- Went against the purpose of fair competitive tender
- Unethical
Level 3 - Rules of conduct
Which Rule/s of Conduct did you demonstrate on your refurbishment project in London?
I demonstrated various example behaviors, for example;
- I was honest and didn’t allow myself to be misled by such requests
- I questioned the PM’s decision to disclose the tender bid to another tendering contractor
Level 3 - Ethics
Did you continue to include the relevant contractor in the process?
- Yes
- The contractor that initially presented the most competitive price was awarded the contract
- The estate made the necessary adjustments to host them.
Level 3 - Ethics
In your experience do you reckon you provided a high standard of service?
- Yes
- I ensured that the clients’ interests were properly cared for
- if it came out in the public domain, it wouldn’t promote either party positively
- Looked out for the publics best interest
Level 2 - Bribery
As a RICS member how would you ensure that you comply with bribery legislation/company policy?
- Not facilitate or be complicit to bribery
- Adequate knowledge through training
- Report any activity that breaches laws
- Declare gifts, hospitality, entertainment and expenses to my employer
- Familiarise myself with company policy
- Do not accept cash or cas equivalent
- Gifts given or in receipt made it right intention
- In company name, not personal
- Proportionate to sector
- Given openly
Level 1 - Money laundering
How would you ensure you comply with money laundering regulations as a RICS member?
- Familarise myself with policy
- Log reports of any suspicions
- Verify my client by undertaking basic identity checks
- Training
Level 2 - CHP
Tell me about how your company handles a client complaints?
- Allocate the complaint to an appointed person (Project Director)
- Understand the complaint
- acknowledge the complaint 7 days from receipt
- conduct Internal investigation
- Notify PI insurers if necessary
- respond within 28 days informing client of outcome
- Formally record on CH log
- If the complaintant is dissatisfied an attempt to resolve through negotiation
- If still the complaint cannot be resolved, it will be referred to an independent redress scheme.
Level 3 - conflict of interest
Give me an example of a conflict of interest?
- If I was the projcet QS conducting a tender and one of the tendering contractors was a family member
Level 2 - Conflict of Interest
Can you continue with instruction if there is a conflict of interest, how could you handle this?
It depends, I would;
* Identify the conflict of interest
* Disclose the potential conflict to all relevant parties
* Look to see if it could be managed
* Advise the client to seek advice on the conflict
* Sought written informed consent.
* Put procedures in place to manage the conflict
Level 2 - Conflict of Interest
What controls are available to manage conflicts?
- Information barriers (Chinese walls)
- Record logs
- Recusal
- Disclosure
- Seperation
- Training
Level 1 - Rules of conduct
What did the new RICS Rules of Conduct replace?
When do they take effect?
The new rules of conduct replace the;
* the former RICS rules of conduct for firms and members
* the five global professional and ethical standards
The change came into effect on the 2nd Feb 2022
Level 1 - Rules of conduct
What are the main changes to the Rules Of Conduct?
- The change provides a simpler structure
- helps the profession respond to new risks and opportunities.
- Clear examples
- Focus on respect and D&I
- Understanding technologies
- Tackling global challenges.
Level 1 - Bribery
What constitutes a bribe?
An offering, giving, acceptance or demanding to gain an illegal or unethical advantage.
Level 1 - Bribery
What is a bribe?
- An inducement or promise for an action that is illegal, unethical or a breach of trust to gain an advantage.
