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RICS APC CB > Ethics, rules of conduct and professionalism > Flashcards

Ethics, rules of conduct and professionalism Flashcards

1
Q

What is the RICS Motto?

A

“Est Modus in Rebus” – There is measure in all things.

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2
Q

What is Rule no.1?

A

Members and firms must be honest, act with integrity and comply with their professional obligations, including obligations to RICS.

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3
Q

What is Rule no.2?

A

Members and firms must maintain their professional competence and ensure that services are provided by competent individuals who have the necessary expertise.

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4
Q

What is Rule no.3?

A

Members and firms must provide good-quality and diligent service

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5
Q

What is Rule no.4?

A

Members and firms must treat others with respect and encourage diversity and inclusion.

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6
Q

What is Rule no.5?

A

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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7
Q

What is appendix A in the New Rules of Conduct?

A

Appendix A: Professional Obligations to RICS e.g. “Member must comply with the CPD requirements set by RICS

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8
Q

Why do you want to join the RICS?

A

Globally recognised organisation and membership will be highly valued both at home and abroad.
Help and support when required
Technical resources to develop as a quantity surveyor and a professional within the construction industry
Promoting best practices
Benefitting my clients

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9
Q

How do you promote trust in the industry?

A
  • Committing to timescales
  • Being open and honest with all parties
  • Abiding by the 5 RICS rules of conduct
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10
Q

What is a conflict of interest?

A

‘Conflict of Interest’ means:
a) a situation in which the duty of an RICS member (working independently or within a non-regulated firm or within a regulated firm) or a regulated firm to act in the interests of a client or other party in a professional assignment conflicts with a duty owed to another client or party in relation to the same or a related professional assignment (a ‘Party Conflict’)
b) b a situation in which the duty of an RICS member (working independently or within a non-regulated firm or within a regulated firm) or a regulated firm to act in the interests of a client in a professional assignment conflicts with the interests of that same RICS member/firm (or in the case of a regulated firm, the interests of any of the individuals within that regulated firm who are involved directly or indirectly in that or any related professional assignment) (an ‘Own Interest Conflict’)
c) c a conflict between the duty of an RICS member (working independently or within a non-regulated firm or within a regulated firm) under paragraph 2.2 to provide material information to one client, and the duty of that RICS member (working independently or within a non-regulated firm) or of a regulated firm under paragraph 2.1 to another client to keep that same information confidential (a ‘Confidential Information Conflict’).

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11
Q

CPD Requirements

A

APC – 48 Hours per year 50/50 split formal/informal
1. All members must undertake a minimum of 20 hours CPD each calendar year (January to December).
2. Of the 20 hours at least 10 hours must be formal CPD. The remainder can be informal CPD. (For guidance, see below and download examples.)
3. All members must maintain a relevant and current understanding of our professional and ethical standards during a rolling three-year period. Any learning undertaken in order to meet this requirement may count as formal CPD.
4. Members must record their CPD activity online by 31 January.

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12
Q

Exemptions/mitigating circumstances from completing CPD?

A
  • members on maternity, paternity, adoption or family raising leave
  • members who are unemployed
  • those who are on long term sick or may currently be non-practising for other compassionate reasons.
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13
Q

What is the mission statement of the RICS?

A
  • To qualify and equip their members to offer the highest standard of professional service
  • To promote and enforce standards
  • To lead solutions to the major challenges facing the built environment through professional expertise
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14
Q

When was the RICS Founded?

A
  • 1868
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15
Q

What are the RICS 5 principles of better regulation?

A

P.A.C.T.T.

  • Proportionaltiy
  • Accountability
  • Consistency
  • Targeting
  • Transparency
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16
Q

How is the RICS Structured?

A
  • The RICS was founded in 1868 with the royal charter being granted by the Privy Council in 1881
  • The RICS is self-regulated and internally monitored meaning that it is not regulated by the Government or external parties
  • The Bye-Laws determine how the RICS is regulated
  • The Governing council manage and agree the strategy for the RICS
  • The Regulatory board, audit committee and management board are beneath the governing council and execute the strategy set by them.
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17
Q

What is a conflict of interest?

A

A situation where a member or firms ability to act impartially has been compromised.

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18
Q

What are the types of conflict of interest?

A
  1. Party Conflict
  2. Confidential information conflict
  3. Own interest conflict
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19
Q

What is a party conflict?

A

A situation in which the duty to act in the interests of a client or other party in a professional assignment conflicts with a duty owed to another client or party in relation to the same or a related professional assignment.

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20
Q

What is a confidential information conflict?

A

a conflict between the duty of an RICS member to provide material information to one client, and the duty of that RICS member to another client to keep that same information confidential

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21
Q

What is an own interest conflict?

A

A situation in which the duty to act in the interests of a client in a professional assignment conflicts with the interests of that same RICS member/firm.

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22
Q

Can you proceed with work even if a conflict of interest is identified? If so, how?

A

Yes, so long as informed consent has been given by all the parties potentially affected, is not against the law, and is in the best interest of all parties.

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23
Q

What can you use to make an ethical decision?

A

The RICS decision tree
Try to seperate the facts from you or others emotional response
Examples of criteria:
- Is it Legal?
- Is it in line with the RICS Rules of Conduct?
- would you be content for your decision to be made public in the newspapers or internet?

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24
Q

What is the purpose of the company code of integrity and business ethics?

A

Integrity and ethics are fundamental to everything we do. Our Code of Integrity and Business Ethics, or the Code, sets out Gleeds’ commitment to integrity and ethics in everything we do. Gleeds believe in the principle of one Gleeds, one Code. This means that Gleeds expects everyone in the company to read, understand, and follow the Code.
Although the Code covers a wide range of practices and procedures, it cannot address every situation you may encounter. It is a guide to your responsibilities and helps you use your judgement and common-sense in making the right decisions

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25
Q

What questions does the company code of intergrity and business ethics provide?

A
  • Does it comply with Gleeds’ values and with our Code and its underlying policies?
  • Is my action legal?
  • Does it conform with diversity and inclusion best practice?
  • Is it fair, ethical and morally acceptable?
  • What is my “gut feeling” telling me?
  • How would it look if it were reported on the news or in another public forum? Would my reputation or Gleeds be negatively affected?
  • Could someone perceive this as a conflict of interest?
  • Could my action (or inaction) put anyone’s health, safety or well-being at risk?
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26
Q

Why would this (being invited for a coffee by a tenderer) potentially be a conflict at tender stage?

A

This could be interpreted as changing or distorting the competition according to our company code of integrity:

A simple exchange of information between competitors, prior to submitting bids as part of a tendering procedure, may be deemed unlawful if it is aimed at or results in changing or distorting competition

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27
Q

Professional Indemnity Insurance

A

An insurance policy designed for professional firms and people which covers them in the event of certain errors made during their business.
The policies available mainly cover professional negligence, errors or omissions, breach of professional duty and civil liabilities.

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28
Q

What is the RICS view of Professional Indemnity Insurance?

A

All firms must have Professional indemnity insurance

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29
Q

Case law for PI and runoff cover

A

Merrett v Babb
Valuation incorrect and negligent
Company no longer existed & PI was cancelled
Merrett could pursue Babb (as an individual) for the losses.

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30
Q

Merret v babb case is one of the reasons run off cover is important because?

A

Ensures historic liabilities of a company that has ceased trading can be covered.
RICS expects run off cover for a minimum of 6 years.

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31
Q

What is Rule no.3?

A

Members and firms must provide good-quality and diligent service

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32
Q

What are the main components of a complete tender pack?

A
  • Invitation to Tender
  • Form of tender
  • Contract conditions
  • Instructions to tenderers
  • Preliminaries
  • Employers requirements
  • Works information
  • Design information
  • Pricing document
  • Appendices (Pre-Construction Information, key surveys, planning information, building control, collateral warranties/Parent company guarantee/performance bond, design responsibility matrix, party wall agreements, building condition survey, risk register.
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33
Q

What would you do if one tenderer requested an extension due to the additional information?

A

I would assess whether there is a reasonable amount if time left within the tender return period to absorb and price the information, I would put the request to the client and if the extension of time was given I would extend it to all tenderers to ensure fairness of competition.

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34
Q

How did you submit to all tenderers?

A

I submitted the information to all tenderers as an addendum.

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35
Q

What is Rule no.1?

A

Members and firms must be honest, act with integrity and comply with their professional obligations, including obligations to RICS.

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36
Q

What would you include in the tender responses to unsuccessful candidates in terms of commercial feedback?

A

I would not specifically reveal an of the amounts returned by other tenderers, I would however indicate if they were significantly high/low compared to the average and on what packages if required. I would also specify if there were other requirements not met by the contractor rather than the success of another being based solely on Price alone.

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37
Q

What is the difference between RICS Ethics and rules?

A
  • Ethics are a set of moral vaules.
  • Rules of conduct are a framework that we work to.
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38
Q

When did the new rules of conduct come into effect?

A

2nd Feburary 2022

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39
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 sperate Global professional standards and ethical standards.
  • This was to provide a single document to enable greater clarity for RICS members and firms.
  • I also understand there is now a greater focus on clearer example behavious, understanding evolving technology and tackling climate change.
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40
Q

What are the professional obligations of members as stated in appendix A of the rules of conduct?

A

There are 3 rules for members:
1. 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.
2. Members must cooperate with the RICS.
3. Members must promptly provide all information reasonably requested by the standards and regulations board,, or those exercising delegated authority on its behalf.

41
Q

What are the professional obligations of firms as stated in appendix A of the rules of conduct?

A

There are 7 rules for firms:
1. Firms must publish a complaints handling procedure, which includes an alternative dispute resolution provider approved by the RICS, and maintain a complaints log.
2. Firms must ensure that all previous and current professional work is covered by adequate and appropriate professional indemnity cover that meets the standard approved by the RICS
3. Firms with a sole principal must make appropriate arrangements for their professional work to continue in the event of their incapacity, death, absence from or inability to work.
4. Firms must cooperate with the RICS.
5. Firms must promptly provide all information reasonably requested by the standards and regulations board,, or those exercising delegated authority on its behalf.
6. Firms must display on their business literature, in accordance with RICS published policy on designations, a designation to denote they are regulated by the RICS.
7. Firms must report to RICS any matter that they are required to report under the Rules of the Registration of Firms.

42
Q

Why does the RICS have rules of conduct?

A
  • To provide a framework that we can all work to and so the client knows he is getting the set level of service.
  • As well as being an important tool for the Institution, the Rules of Conduct are also a useful professional guide for individual institution members.
43
Q

How can a disciplinary proceeding be triggered?

A
  • Someone complaining to the RICS
  • An allegation by a client or a third party
  • Information received or established by the RICS
44
Q

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

A
  1. Fixed Penalty
  2. Consent order.
  3. Disciplinary Panel
45
Q

What are fixed penalties?

A

A fine by the RICS

46
Q

What are consent orders?

A
  • It is a written agreement between the RICS and a member or firm concerning the disciplinary issue on a breach of the RICS rules.
  • It can require the member or firm 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.
47
Q

When is a disciplinary panel appliacble?

A
  • They are used for more serious breaches of conduct
  • the panel will usually be held in public
  • The burden of proof is on the RICS
  • A balance of probabilities approach will be adopted.
48
Q

What sort of breaches would expulsion be suitable for?

A
  • Gross, persistent or wilful failure to comply with an RICS rule of conduct.
  • Fraud, dishonesty, conviction of a serious criminal offence, gross incompetence, deliberate discrimination, misappropriation of a clients money
49
Q

Please advise what you will need to do if you pass your APC and decide to set up your own Firm?

A
  • Contact the RICS for Guidance and obtain a company start up pack
  • Inform the RICS and register for regulation
  • Appoint a contact officer for all RICS communication
  • Prepare a complaints handling procedure
  • Obtain professional Indemnity insurance cover
  • Abide by the rules of conduct for Firms
  • Use the designation “regulated by the RICS” on all Practice material
50
Q

Would you advertise your new company in the press?

A

Yes as long as it is a trustful and responsible manner in line with the Rules of Conduct for Firms.

51
Q

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

A
  • Professional Indemnity Insurance
  • Employers Liability
  • Public Liability
  • Building insurance of an office premises
52
Q

What does PII stand for?

A

Professional Indemnity Insurance

53
Q

What is the pupose of Professional indemnity insurance?

A

To provide financial cover*in the event a client suffers financial loss as a result of a breach of professional duty e.g. neglect, errors or omissions.

54
Q

What benefits does PII provide for the professional?

A

The professional is protected from financial losses
The firm does not have to meet the claim from their own assets or resources.

55
Q

What benefits does PII provide the client?

A

They are able to recover their financial losses.

56
Q

What is a royal charter?

A

A Royal Charter is an instrument of incorporation, granted by The King, which confers independent legal personality on an organisation and defines its objectives, constitution and powers to govern its own affairs.

57
Q

On what basis it
PII underwritten in the UK?

A

On a claims made basis.
This means the insurance policy that is in place at the time the breach is discovered is responsible for providing the indemnity, not the insurance policy in place when the breach was made.

58
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 of 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.
59
Q

What are the new RICS minimum levels of indemnity and maximum levels of uninsured excess?

A

Minimum Indemnity Levels
£100,000 or less = £250,000
£100,001 to £200,000 = £500,000
£200,001 and above = £1,000,000

Maximum Levels of Uninsured Excess
Turnover Maximum uninsured excess
£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

60
Q

What period of time should run off cover extend to?

A

6 years

61
Q

What is the premium for PI?

A

1-5% of a companies turnover depending on what is being covered.

62
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 letter of engagement, scope of services and terms of engagement
  • Dont advise on a specialism outside your field of experience
  • use RICS guidelines
  • Avoid poor management and excessive workloads
63
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 and procedures set out in the insurance policy.

64
Q

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

A
  • An estimate the 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
65
Q

Can you provide some example behaviours for Rule no.1?

A
  • Members and firms 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 do not take unfair advantage of others
  • Firms keep client money safe and have appropriate accounting controls.
66
Q

Can you provide some example behaviours for Rule no.2?

A
  • Members and firms only undertake work that they have the knowledge, skills and resources to carry out competently.
  • Members and firms supervise any employees undertaking work for them and ensure that these employees have the necessary knowledge, skills and resources to do their tasks competently.
  • Members and firms reflect on the work they have undertaken and its impacts, and consider how they might apply what they have learned to their future work.
67
Q

Can you provide some example behaviours for Rule no.3?

A
  • Members and firms understand clients’ needs and objectives before accepting any professional work.
  • Members and firms agree with clients the scope of the service to be provided and its limitations, and timescales for the work.
  • Members and firms inform clients promptly and seek their agreement if it is proposed that any of the terms of engagement or estimated fees or costs be changed.
68
Q

Can you provide some example behaviours for Rule no.4?

A
  • Members and firms respect the rights of others and treat others with courtesy
  • Members and firms do not bully, victimise or harass anyone.
  • Firms check that supply chains do not involve modern slavery or other abuses of the workforce.
  • Members and firms work cooperatively with others.
69
Q

Can you provide some example behaviours for Rule no.5?

A
  • Members and firms support directors, partners, employees, colleagues or clients who have acted in good faith to report concerns.
  • Members and firms respond to complaints made against them promptly, openly and professionally.
  • Members and firms do not dissuade complainants from approaching an alternative dispute resolution provider, RICS or any other regulatory body
70
Q

What is the Net Contribution Clause defined as?

A

A net contribution clause states that where two or more parties involved in a construction project are each jointly liable for the same loss or damage, the liability of each party will be limited to the amount which would be apportioned to that party by a court.

71
Q

What are the penalties under the Bribery Act 2010?

A

The penalties for committing a crime under the act are a maximum of 10 years’ imprisonment, along with an unlimited fine, and the potential for the confiscation of property under the Proceeds of Crime Act 2002, as well as the disqualification of directors under the Company Directors Disqualification Act 1986.

72
Q

If a complaint cannot be resolved what is the option for the complainnent?

A

Stage 2 Redress

Provide details of access to independent redress if the firm cannot resolve the complaint.

73
Q

what is your companies global annual turnover?`

A

£230-250million globally
£10million - London

74
Q

What are the new RICS definitions for information published by the RICS?

A

Professional Standards
Practice Information

75
Q

What is sustainability in construction?

A

Sustainable construction is a way of building that minimizes the environmental impact and maximizes the social and economic benefits of the construction industry.
3 Pillars:
Environmental
Economical
Social

76
Q

What are the benefits of your company being regulated by the RICS?

A
  • Gives the client assurance
  • protects your clients and firms
  • repeat business
  • CPD
    Access to professional standards and guidance
  • operating with a gold
  • access to network
77
Q

Tell me about a time you have come across a conflict of interest?

A

Own interest Conflict? - I have a relation who works for a construction firm and they were tendering for a job so i notified my manager of the conflict of interest and withdrew from the tender process.

78
Q

Who is the Chairman of the RICS?

A

Martin Samworth

79
Q

The difference between void and voidable contracts is?

A
  • A void contract is illegal and unenforceable, while a voidable contract is legal and the parties can enforce it.
  • A void contract is invalid or entirely against the law, so no one involved can say it’s enforceable under the law. Contracts that are voidable are valid and legally enforceable.
  • Void contracts are unenforceable. No party will be legally bound by it, and it cannot be relied on to obtain compensation for past performance. Voidable contracts are valid contracts and legally binding to only one party.
  • A void contract is no contract at all; it binds no one and is a mere nullity. A contract is voidable when one of the parties has the power either to avoid or to validate the agreement.
  • Void refers to something that is completely without legal effect. On the other hand, voidable means that the contract is initially valid and enforceable, but can be voided by one or both parties due to certain circumstances.
80
Q

What was the last CPD you did?

A

Information Security Training -
Clear Desk Policy
Tailgating
Leaving equipment unattended
Phishing and email safety
Removable Media
Hybrid working security

81
Q

If i was your Client and I submitted a Complaint, how would you deal with it?

A
  • I would acknowledge reciept and i would forward it to my firms designated complaint handler (Andrew Irving), as per our complaint handling procedure, providing additional information as required.
  • I would also highlight the importance of informing our Professional Indemnity insurance provider immediately
82
Q

What are the time frames for dealing with complaints?

A

Complaint received
Acknowledgement within - 7 days
Outcome of investigation response- 21 days
(total of 28 days as per RICS Model)
If not resolved Stage 2 redress - the compliant is referred to an independent third party such as the RICS

83
Q

Who is your firms designated complaints Handler?

A

Andrew Irving - UK, South

84
Q

What is an independent redress scheme?

A
  • It is a consumer scheme designed to handle small issues that would be disproportionately expensive to take to court
  • If the scheme judges in favour of the complainant it is binding.
  • if if 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
  • the the complaint relates to a large amount of money or if the complainant wishes so, he can take the matter to court.
85
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 thier direct loss of funds when using an RICS regulated firm
  • This is provided through an RICS insurance policy
86
Q

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

A

For the purpose of dual authorisation

87
Q

What are the CPD requirements?

A
  • A minimum of 20 hours CPD must be acheived per calender year, of which a minimum 10 hours must be formal
  • Members must undertake learning on the standards expected around RICS Ethics on a rolling 3-year period.
  • All CPDs must be recorded via the RICS on-line management system
88
Q

What sorts of activities are included in CPD?

A
  • It must have a clear learning objective relelvant to my role to count as CPD
  • Formal CPD can be classed as web based training with structured assessment, formal seminars, providing training to others where research and preperation is required.
  • Informal CPD is classed as private reading, internal CPDs and on the job shadowing
89
Q

CPD Decision Tree

A

Used to determine if CPD is formal or informal

90
Q

What is your CPD strategy?

A
  • I meet with my mentor twice a year to review my career development plan and objectives
  • I build my CPD strategy around these objectives, current topics and personal interests.
91
Q

What are the main elements included within a fee proposal?

A
  • Terms and conditions
  • Scope of services
  • Exclusions
  • Assumptions
92
Q

If the client gives you a lump sum fee before going on holiday, what would you do?

A

I would place the funds in a separately identified client account and agree a drawdown of monies against the services being provided with the client.

93
Q

What is the membership of the RICS?

A

~150,000

94
Q

How many faculties are there within the RICS?

A
  1. Building Surveying
    Quantity Surveying
    Project Management
    Management Consultancy
    Dispute Resolution
    etc
95
Q

What firms are regulated by the RICS.

A

3 Firms required to register
3.1 A Firm is required to register for regulation by RICS if:
a. the Firm provides surveying services to the public
b. the Firm is operating in Regulated Area A
c. at least 50% of the Firm’s Principals are RICS Members.
3.2 RICS Members who are also Principals of a Firm that is required to register under Rule 3 must take all reasonable steps within their power to ensure that an appropriate application to register for regulation by RICS is made on behalf of the Firm.

4 Firms eligible to register
4.1 A Firm is eligible to register for regulation by RICS if:
a the Firm provides surveying services to the public and
b at least 25% of the Firm’s Principals are RICS Members.

96
Q

RICS Client Protection money scheme

A

The main purposes of the Scheme are:
a) to allow RICS Registered Firms to offer client money protection in accordance
with the Rules; and
b) to compensate Clients of an RICS Registered Firm for the losses of its Clients resulting from of the RICS Registered Firm failing to account for Client Money (as defined in paragraph 1.1) to the person entitled to it in accordance with the Rules

Limit per claim: £50,000
3 Cap on liability of the Scheme as a whole in respect of any single Financial
Year: £10,300,000.

97
Q

Changes to JCT 2024?

A

Modernising and Streamlining – including adoption of gender neutral language, and increased flexibility around the use of electronic notices.

New for JCT 2024 – the introduction of a new contract family, JCT Target Cost Contract (TCC), comprising main contract, sub-contract, and guide.

Legislative changes – major updates in relation to the new Part 2A of the Building Regulations, Termination accounting and payment provisions reflecting the Construction Act, new insolvency grounds reflecting the Corporate Insolvency and Governance Act 2020.

Future proofing – including changes to reflect the objectives of the Construction Playbook, and the incorporation of previously optional supplemental provisions relating to Collaborative Working, and Sustainable Development and Environmental Considerations, into the main document.

98
Q

Which updated 2024 JCT contracts are available?

A

D&B -
Minor Works - May 2024

RICS APC CB (26 decks)

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