Ethics, rules of conduct and professionalism - lvl 1

Question 1

When was RICS founded?

Question 2

Who granted the RICS Royal Charter and when?

Question 3

What is the role of RICS?

Question 4

What are the key functions of RICS?

Question 5

What is a Royal Charter?

Question 6

Who is the current RICS president?

Question 7

What do you understand by the term self-regulation?

Question 8

Explain to me the new RICS Rules of Conduct - what do they replace?

Question 9

When do they take effect?

Question 10

Who do they relate to?

Question 11

What are the 6 ethical principals that the Rules of Conduct are based on?

Question 12

What are the 5 Rules?

Question 13

Give an example behaviour of each.

Question 14

What are the professional obligations of firms and members to RICS?

Question 15

What disciplinary procedures can the RICS impose?

Question 16

In what circumstances can these be imposed?

Question 17

When did the RICS last update their disciplinary panel rules?

Question 18

What are the different levels of action within these procedures?

Question 19

What money laundering regulations or legislation are you aware of?

Question 20

What is a red flag of money laundering

Question 21

What bribery legislation are you aware of?

Question 22

What is a bribe?

Question 23

What are the penalties for accepting a bribe?

Question 24

What are the penalties for being involved in money laundering?

Question 25

What constitutes an offence under the current money laundering regulations?

Question 26

How long should you keep money laundering records for?

Question 27

What is Professional Indemnity Insurance (PII)?

Question 28

Can you tell me about RICS requirements in relation to PII?

Answer 28

Refer to RICS GN Risk, Liability and Insurance 1st Edition, 2021

Question 29

Tell me what you understand about Complaints Handling Procedures (CHP).

Question 30

When and how can the RICS be involved in a complaint about a firm or member?

Question 31

Can you tell me about the CPD requirements for members of RICS?

Question 32

Why is CPD important?

Question 33

Tell me about the RICS’ guidance on dealing with Conflicts of Interest.

Question 34

How would you close down a regulated firm?

Question 35

What are the current RICS rules for registration of firms?

Question 36

Who is a ‘qualified member’ of RICS?

Question 37

When must a firm register for regulation?

Question 38

What are the registration eligibility criteria?

Question 39

What RICS guidance note related to handling client money?

Question 40

What are some of the key principles of the RICS PS relating to client money protection?

Question 41

What do RICS set out as good practice for their use of social media in their Regulation document (June 2021)?

Question 42

Explain your understanding of the RICS Levitt review.

Question 43

What is whistleblowing?

Question 44

Explain what you understand by the RICS Bichard Review.

Question 45

What is modern slavery and how would you identify red flags of it?

Question 46

What is the Sanctions List and why should you be aware of it?

Question 47

Why was the Register of Overseas Entities introduced?

Question 48

What are the six RICS values published as a result of the Levitt review?

Question 49

Explain the impact of the Economic Crime (Transparency and Enforcement) Act 2022.