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QS APC 2024 > Ethics, Rules of Conduct And Professionalism L1 to L3 > Flashcards

Ethics, Rules of Conduct And Professionalism L1 to L3 Flashcards

1
Q

What is the role of the RICS?

A

To advance the highest ethical and technical standards.
To protect clients and consumers by enforcing standards and code of best practice.
To provide expert impartial advice.

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2
Q

What is your RICS membership number?

A

0872979

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3
Q

Who is the president of the RICS?

A

Tina Paillet (2024)

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4
Q

Who is the president elect of the RICS?

A

Justin Sullivan

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5
Q

Who is the vice president of the RICS?

A

Nicholas Maclean

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6
Q

Who is the head of regulation in the RICS?

A

Nigel Clarke (Interim)

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7
Q

Who is the head of the privy council?

A

Lord President - Jacob Rees
Mogg

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8
Q

Who is the CEO RICS?

A

Justin Young

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9
Q

How many members of the RICS are there?

A

134,000 across 146 countries

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10
Q

What is the RICS London HQ address?

A

12 Great George Street
(Parliament Square)
Westminster
London
SW1P 3AD

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11
Q

What does RICS stand for?

A

Royal Institution of Chartered Surveyors

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12
Q

What is the meaning of the RICS Motto?

A

The motto is ‘Est Modus in Rebus’ which in Latin translates to ‘There is measure in all things’.

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13
Q

What is Lionheart?

A

An independent charity run by RICS professionals, for RICS professionals.
Benevolent fund established over 100
years ago.
Services include a range from financial support, health and wellbeing packages, free professional counselling, work related support and legal advice.

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14
Q

When was the RICS Founded?

A

1868

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15
Q

Why do you want to be a chartered surveyor?

A

RICS is the largest international property institution in the world. I will receive global recognition and become part of an international professional community.
I will have elite professional status, guidance, information and support.

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16
Q

What is the role of the Standards and Regulation Board?

A

It has exclusive responsibility for strategy, policy and operational oversight of the standards, entry and admission to the profession, as well as regulatory functions of the RICS.

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17
Q

What is the RICS Matrics?

A

It supports new members entering the profession, as well as helping shape the future of surveying and grow the size and respect of the profession.

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18
Q

What is the Royal Charter?

A

Awarded in 1881 by Queen Victoria.
The Royal Charter requires the RICS to promote usefulness in the profession.

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19
Q

What are the various RICS statuses?

A

Trainee
Student
Graduate
Assoc RICS
Member RICS
Fellowship RICS

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20
Q

How many RICS professional groups are there?

A

18

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21
Q

Name some RICS faculties?

A

Quantity Surveying
Building Surveying
Project Management
Valuation
Facilities Management
Dispute Resolution

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22
Q

What is the role of the Governing Council?

A

Set global strategy, ensure RICS fulfils its Royal Charter obligations and enforce professional standards.

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23
Q

What is the ISO Standard for anti-bribery?

A

37001

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24
Q

What is the ISO Standard for Corporate Social Responsibility?

A

26000

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25
Q

How many Global Professional and Ethical standards are there?

A

There are 5:
1. Act with Integrity
2. Provide a high standard of service
3. Treat others with respect
4. Promote trust in the profession
5. Take responsibility

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26
Q

What is the difference between RICS ethics and rules?

A

Ethics are a set of moral values.
Rules of conduct are a framework that we work to.

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27
Q

What are the RICS’ 5 principles of better regulation?

A

Proportionality.
Accountability.
Consistency.
Targeting.
Transparency

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28
Q

What are the New Rules of
Conduct?

A

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.

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29
Q

Why did the previous Rules of Conduct change?

A

The previous rules had been in place since 2007.
Following research and consultation with RICS Members, Firms and Members of the public, the majority voted in favour of replacing the existing Rules of Conduct and separate Global Professional and Ethical Standards.
To provide a single document to enable greater clarity for RICS members and firms.

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30
Q

What are the professional obligations of members?

A

Members must comply with the CPD requirements set by the RICS which requires 20 hours of CPD for each calendar year, 10 hours of which must be formal CPD.

Members must cooperate with RICS.

Members must promptly provide all information reasonably requested by the Standards and Regulation Board, or those exercising delegated authority on its behalf.

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31
Q

What is the RICS black book?

A

A suite of guidance notes that define good technical standards for a OS & other construction professionals.

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32
Q

What are there RICS black books on?

A

Cost Reporting
Interim Valuations and Payment
Management of Risk
Tendering Strategies
Surveying Safely

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33
Q

Are guidance notes compulsory to follow?

A

No. They outline best practice. However, if there was a case of professional negligence, the court would take into consideration whether or not guidance notes were followed.

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34
Q

Are practice notes compulsory?

A

Yes.

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35
Q

Can you provide some behavioural examples that comply with Rule 1 (honest, interfaith and comply with professional obligation, incl RICS), of the Rules of Conduct?

A

Do not mislead others by their actions or omissions, or by being complicit in the actions or omissions of others.

Members and firms are open and transparent with clients about their fees and services.

Members and firms act to prevent others being misled about their professional opinion.

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36
Q

Can you provide some behavioural examples that comply with Rule 2 (maintain professional competencey & ensure services are provided by competent individuals, with expertise), of the Rules of Conduct?

A

Only undertake work that they have the knowledge, skills and resources to carry out competently.

Supervise any employee undertaking work for them and ensure they have necessary knowledge, skills and resources to do their task competently competence.

Members Maintain and develop their knowledge and skills throughout their career and Undertake necessary CPD.

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37
Q

Can you provide some behavioural examples that comply with Rule 3 (good quality and diligent service), of the Rules of Conduct?

A

Understand clients’ needs and objectives before accepting work.

Agree the scope of service with the clients, including limitations and timescales for the work.

Communicate with clients and others clearly and in a way they can understand.

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38
Q

Can you provide some behavioural examples that comply with Rule 4 (Respect & promote diversity and inclusion), of the Rules of Conduct?

A

Respect the rights of others and treat others with courtesy.

Do not bully, victimise or harass.

Work cooperatively with others.

Develop an inclusive culture in their workplace, support equal access and opportunity for all and identify and address unconscious bias.

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39
Q

Can you provide some behavioural examples that comply with Rule 5(Public interest, take responsibility, prevent harm and maintain public confidence), of the Rules of Conduct?

A

Support directors, partners, employees, colleagues or clients who have acted in good faith to report concerns.

Respond to complaints promptly, openly, and professionally.

Take appropriate action when they consider that the rules have been breached, and report breaches to RICS.

Manage professional finances responsibly.

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40
Q

What is an RICS Code of Practice (COP)?

A

A document developed in collaboration with other professional bodies and stakeholders that provide users with recommendations on best practice. Have the status of a professional statement or guidance note.

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41
Q

What is an RICS professional Statement (PS)?

A

Mandatory requirements for RICS members and regulated firms.

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42
Q

What is an RICS Guidance Note?

A

A document that provides users with recommendations or an approach for accepted good practice as followed by competent and conscientious
practitioners.

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43
Q

What is an International Standard?

A

High-level standard developed in collaboration with other relevant bodies - MANDATORY.

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44
Q

What is an RICS Jurisdiction Guide?

A

This provides relevant local market information associated with an RICS international standard or RICS professional statement.
This will include local legislation, associations and professional bodies as well as any other useful information that will help a user understand the local requirements connected with the standard or statement.

45
Q

When was the Bribery Act introduced?

A

2010, came into force in 2011.

46
Q

What are the principles of the Bribery Act? (6)

A

Proportionate procedures
Communication
Risk assessment
Top-level commitment
Due diligence
Monitoring and review

47
Q

What do you know about the Bribery Act?

A

It is legislation that makes bribery illegal for companies working in UK.
Also holds UK companies accountable for failing to prevent such acts by those working for or on its behalf, no matter where the act takes place.

48
Q

What happens if you commit an act of bribery?

A

Up to 10 years in prison.
Excluded from RICS.
Unlimited fine.
Banned from being a director of any company.

49
Q

How do you deal with a conflict of interest?

A

Openness and transparency.

50
Q

What is PIl?

A

Professional Indemnity Insurance.
Covers a firm for a claim for financial loss.
Clients can recover their financial losses.
Minimum level of cover based on turnover in the previous year.

51
Q

What are the levels of cover advised by the RICS?

A

£100k or less turnover - £250k
£100k - £200k turnover - £500k
£200k or over - £1,000,000

52
Q

What is the Assigned Risk
Pool?

A

The ARP panel is a facility for trading member / firms who find themselves unable to obtain insurance in the open market.
It comprises a panel of a RICS chairman, members of the professional indemnity insurers and RICS members.
The initial period of cover is 12 months, to allow the firm time to return to the open PlI market.

53
Q

What does the RICS advise as the maximum level of uninsured excess on a PII policy?

A

Firm turnover in the preceding year:

£10,000,000 or less - The greater of 2.5% of the sum insured, or
£10,000

£10,000,001 and above - No limit set

54
Q

What is run-off cover?

A

Ensures firms, members and their customers are not exposed to detriment in the period following a firm ceasing to trade. Minimum run-off cover is 6 years.

55
Q

Your brother-in-law is a chartered surveyor. You find out that he is working outside the RICS Rules of Conduct. What do you do?

A

I verify the facts and confront him reminding him of his duties as a member of the RICS.
I inform the RICS specifying my relationship to the person and any corrective action which I believe my brother-in-law is committed to put in place.

56
Q

In the case of a breach of a rule of conduct what is the procedure?

A

Not every shortcoming will necessarily give rise to proceedings.
A formal investigation by the Head of Regulation of the RICS is the first step in the process.
The RICS can request information and/or visit and inspect to investigate compliance.
Members must cooperate fully with all enquiries.

57
Q

How can a disciplinary proceeding be triggered?

A

Someone complaining to the RICS.
An allegation by a client or third party.
Information received or established by the RICS.

58
Q

What three actions can be imposed after the end of the investigation stage?

A

Fixed penalty.
Consent order.
Disciplinary panel.

59
Q

What are fixed penalties?

A

A fine by the RICS.

60
Q

What are consent orders?

A

It is a written agreement between the
RICS and a member or firm concerning a disciplinary issue on a breach of the RICS rules.
It can require the member to take certain corrective actions, or restrain them from taking certain actions for a specified period of time and may require them to pay a fine or costs.

61
Q

Do you know any case law regarding run-off cover?

A

Merrett v Babb (2001)
The defendant, a chartered surveyor, was employed by a firm of valuers (owned by an individual) as manager of one of the firm’s branch offices. In the course of his work the defendant carried out a mortgage valuation for a building society, signing the valuation report in his own name and stating his professional qualifications. By the time the house purchaser sought to bring an action for negligence on the basis of this report the owner of the firm had become bankrupt and the firm’s professional indemnity insurance policy had been cancelled. The firm was therefore not worth suing.
The Court of Appeal held by a majority that the purchaser was entitled to recover damages from the defendant personally, despite the fact that the purchaser had not actually seen the valuer’s report and was unaware, at the time of purchase, of his identity.
Can come after the individual if business ceases trading therefore need to keep PI run off.

62
Q

What is the name of the
RICS journals?

A

MODUS

63
Q

Are you aware of any RICS Regulation on the use of social media accounts?

A

Use of Social Media: Guidance for RICS members V1 - Effective 30th June 2021.

64
Q

What are the various professional standards?

A

Professional Statements - Contain mandatory requirements.
Guidance Notes - Non mandatory requirements.
Assessment of Professional Competence
(APC) - Requirements and guidelines for entry into the profession.
Data Standards - Software programmes and technology can adopt RICS standards into their offering.

65
Q

Are you aware of any regulation associated with the use of the RICS logo?

A

RICS Rules for the use of the RICS logo and designation by firms.

66
Q

What complaints can the RICS investigate?

A

Any breach of their conduct.
They will not investigate whether a high level of service is provided.

67
Q

What is the RICS ethics decision tree?

A

Sufficient facts?
Legal?
In line with RICS Rules of Conduct?
Consulted with appropriate people?
Clear Reasoning?
Is your decision informed?
Would you be ok if your actions were made Public

68
Q

What should you send accompanying a fee proposal?

A

A set of T&Cs.
A scope of services document.

69
Q

What is your company’s business plan?

A

My company has a 2030 strategy to:
Lead by example striving to uphold our high performance.
Focused on profitable outcomes to create sustainable shareholder returns.
Embracing our evolving industry, taking a considered approach to innovation.
Growth led with positive ambition.

70
Q

What are your company’s KPIs?

A

Carbon Footprint
Profitability
Employee Training
Employee Satisfaction

71
Q

What is the client’s money protection scheme?

A

A scheme run by the RICS for clients to recover money that is lost by a firm.

72
Q

What is the IES?

A

International Ethical Standards.

73
Q

What is a conflict of interest?

A

Anything that may impede, or be could be seen to impede, and firm or individual’s ability to act impartially and in the best interest of the client.

74
Q

Can you explain how you act with integrity?

A

Do not mislead others.
Being open and transparent in the way I work.
Not offering or accepting gifts, hospitality or services.

75
Q

Why must you act within your professional competence?

A

To ensure I do not advise my clients incorrectly which could lead to a complain or claim of negligence.

76
Q

Can you explain how you take responsibility?

A

Be accountable for my actions and act with skill, care and diligence.
Ensure an appropriate complaints handling procedure is in place.
Carry out appropriate risk assessments.
Wear appropriate PPE.

77
Q

Can you explain how you treat others with respect?

A

I treat others with courtesy and politeness.
I am considerate to clients and I never discriminate.

78
Q

Can you explain how you provide a high level of service?

A

I always ensure my client receives the best possible advice and support.
I act within my scope and competence. lam transparent about fees and communicate in a way that allows my client to make informed decisions.

79
Q

Can you explain how you promote trust?

A

Act within my scope of competence.
Provide a high level of service. lam open and honest.
Tact in a trustworthy manner

80
Q

What insurances would you need if you were starting up your own firm?

A

Professional Indemnity Insurance.
Employer’s Liability.
Public Liability.
Building’s insurance of an office premises.

81
Q

What processes do regulated firms need to put in place when handling Clients’ Money?

A

Preserve the security of clients’ money which does not belong wholly to the company.
RICS regulated firms that operate a client account must:-
- Set clear segregation of duties for employees.
- A Principal oversees the client money accounting functions.
- Competent and knowledgeable staff are to process clients’ money with cover provided for long term absence.
- Accounting systems and data must be secure.
- Client money must be kept separate and clearly identifiable with the word ‘client’ included in the bank account name.
- Clients must always have access to funds.
-We must agree the terms and advise the client on bank details.
- The account must not be overdrawn.
- We must maintain client ledgers and provide a running balance.

82
Q

What are the different types of client money accounts?

A

General accounts hold money for more than one client.
Discrete accounts reference a single named client.
Accounts should be separate and clearly identifiable.
The word ‘client’ should be used in the account name.
Money should be available on demand.
You should have written agreement with client regarding the payment of interest.

83
Q

What is meant by the term
Negligence?

A

A duty of care is owed to all clients and 3rd parties using reasonable skill and care.
If it is breached due to Negligence a claim may arise resulting in damages being paid or a Professional Indemnity Insurance claim.
Negligence is a failure to provide the duty of care that is owed to the client.

84
Q

What limitation periods are associated with underhand and deed
forms of contract?

A

6 years when executed under hand.
12 years when executed as a deed.

85
Q

What must a complaints handling procedure include?

A

The RICS provides a model form.
The process must include a redress mechanism.
Details of the policy should be issued to the client with the Terms of Business.
It must be clear, quick, transparent and impartial and free of charge within the first stage.
Names and contact details of the
nominated investigating person must be stated.
The complaint must be investigated within 28 days.

All complaints, their progress and outcomes must be recorded.
We must note the need to advise PI
insurers of a complaint immediately.
The process must have two stages as a minimum:-
- Stage 1 is where there needs to be consideration of the complaint by a senior member of the firm or the complaints handling officer. Response within 28 days.
- Stage 2 if the issue is not resolved, the complaint is referred to an independent third party with the authority to award redress. The complainant may be expected to contribute towards costs at this stage.

86
Q

What is an independent redress scheme?’

A

It is a consumer scheme designed to handle small issues that would be disproportionally expensive to take to court.
If the scheme judges in favour of the complainant, it is binding.
If it judges in favour of the firm, the complainant can escalate the matter to court.
RICS firms must specify which redress scheme they want to use, it could be an ombudsman, arbitration or sometimes adjudication.
If the complaint relates to a large amount of money or if the complainant wishes so, he can take the matter to court.

87
Q

What do you do if you receive a letter of complaint?

A

I would acknowledge receipt and I would forward it to my firms designated complaint handler, as per our complaint handling procedure, providing additional information as required.
I would also highlight the importance of informing our Professional Indemnity insurance providers immediately.

88
Q

What is the ‘Clients’ Money Protection Scheme?

A

This is a money protection scheme operated by the RICS.
It contains provision for any member of the public to be reimbursed their direct loss of funds when using an RICS regulated firm.
This is provided through an RICS insurance policy.

89
Q

What is the purpose of the joint names on a client account?

A

For the purpose of dual authorisation.

90
Q

What are the continuous professional development (CPD) requirements?

A

A minimum of 20 hours CPD must be achieved per calendar year, of which a minimum 10 hours must be formal.
On request by the RICS they must provide evidence that they have carried out the CPD to maintain and improve their levels of professional competence.

91
Q

How do you differentiate between the different categories of CPD?

A

CPD Decision Tree

92
Q

What types of articles do you read?

A

I read the RICS journals (Modus, Construction Journal, RICS regional magazine).
I also keep up to date via the RICS website, Building Magazine, Estates Gazette and BCIS updates.

93
Q

What recent article have you read from the RICS?

A
94
Q

How do you keep up to date with topical issues?

A

lam on the mailing list for several CPD providers.
I follow updates on the RICS website and Construction Journals.

95
Q

What are the requirements regarding
Professional Indemnity Insurance set by the RICS?

A

The policy cover must be made on an
‘each and every’ claim basis.
The RICS sets out the minimum levels of indemnity.
The RICS sets out the maximum levels of uninsured excess.
Run off cover must be in place for at least 6 years.
The policy should include cover for past and present employees, directors and partners.

96
Q

What measures should be taken to try and avoid PI claims?

A

Keep full and detailed records of meetings and conversations.
Record recommendations and advice
given.
Use proper letters of engagement, scope of services and terms of engagement.
Don’t advise on a specialism outside your field of experience.
Use RICS guidelines.
Avoid poor management and excessive workloads.

97
Q

If you made a mistake in your cost plan what would your insurance company expect?

A

For you to notify them and comply with any conditions & procedures set out in the insurance policy.

98
Q

If an estimate prepared by a QS is incorrect can the client claim damages?

A

An estimate that is incorrect in itself will not provide the client with a right of redress.
The client must demonstrate that the QS warranted the accuracy of the estimate or that it was incorrect due to a lack of reasonable skill and care.
It could have been incorrect due to reasons outside their control for example market conditions or an item referred to in their exclusions.

99
Q

How can you limit your liability when agreeing terms of appointment with a client?

A

Base the appointment on reasonable care and skill rather than fitness for
purpose which is more onerous.
If the client’s requirements are performance based, this may imply fitness for purpose. It is advisable to request a clause limiting the appointment to reasonable skill and care only.
Run off cover must be in place.
Execution of the appointment under hand will result in a reduced liability period of 6 years instead of 12.

100
Q

What are the main elements included within a fee proposal?

A

Terms and conditions.
Scope of services.
Exclusions.
Assumptions.

101
Q

If you put together a fee proposal, but a couple of months into the job you realise that you have under forecasted your resources, would you go back to the client and ask for more money?

A

If project requirements such as the services, scope or value of the project has increased then I would go back to client and request a fee increase.
If the scope of works had remained the same, this highlights a mistake within our fee bid and the additional work would need to be carried out without reducing the level of service being offered and without requesting additional fees from the client.

102
Q

What are the RICS CPD requirements for structured training candidates?

A

APC structured training candidates:
- minimum 48 hours each year of training.
- 50% must be formal.

103
Q

What are the RICS CPD requirements for members?

A

MRICS:
- minimum 20 hours each calendar year
- 10 hours must be formal.
- understand professional & ethical standards during a rolling three-year period.

104
Q

Why would accepting an invitation from a contractor go against the rules of conduct?

A

It could be deemed as an act of bribery which is an offence under the bribery act. This would go against the RICS rule of acting with integrity.

105
Q

What is the definition of bribery?

A

The offer, promise, giving, demanding or acceptance of an advantage as an inducement for an action that is illegal, unethical or a breach of trust.

106
Q

Does the RICS have any guidance on bribery?

A

Yes, there is a professional standard called Countering Bribery and Corruption, Money Laundering and Terrorist Financing 2019.

This standard helps RICS professionals to identify and manage financial crime risks.

107
Q

On the hotel refurbishment project you identified an error in a variation, how did you demonstrate integrity?

A

The error was a summing error which meant that the overall variation cost impact was wrong. I notified the contractor QS who rectified the error.

108
Q

Why did you decline the clients request to provide a schedule of works for an evacuation stair lift?

A

I declined as no design had been undertaken so I was unable to accurately determine the scope of works. A vertical transportation professional was appointed to produce a scope of work.

109
Q

Why did you not accept the contractors invite to an event?

A

The timing of the invite being during the 2nd stage tender phase could affect my ability to carry out my professional obligations properly.

QS APC 2024 (23 decks)

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