Ethics, rules of conduct and professionalism L1

Question 1

Why do you want to become a member of RICS?

Answer 1

A

Question 2

What is the role of RICS?

Answer 2

B

Question 3

What are the key functions of RICS?

Answer 3

C

Question 4

What is a Royal Charter?

Answer 4

D

Question 5

Who is the current RICS president?

Answer 5

E

Question 6

What do you understand by the term self-regulation?

Answer 6

F

Question 7

Can you tell me what you understand by the principles of better regulation?

Answer 7

G

Question 8

What is a Bye-Law?

Answer 8

H

Question 9

Give an example of one of the RICS Bye-Laws.

Answer 9

A

Question 10

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

Answer 10

B

Question 11

When do they take effect?

Answer 11

C

Question 12

Who do they relate to?

Answer 12

D

Question 13

What are the ethical principles that the Rules of Conduct are based on?

Answer 13

E

Question 14

What are the 5 Rules?

Answer 14

F

Question 15

Give an example behaviour for each.

Answer 15

G

Question 16

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

Answer 16

H

Question 17

What disciplinary procedures can the RICS impose?

Answer 17

A

Question 18

In what circumstances can these be imposed?

Answer 18

B

Question 19

When did RICS last update their disciplinary panel rules?

Answer 19

C

Question 20

What are the different levels of action within these procedures?

Answer 20

D

Question 21

What do you understand by the term professional practice?

Answer 21

E

Question 22

What money laundering regulations or legislation are you aware of?

Answer 22

F

Question 23

What is a red flag of money laundering?

Answer 23

G

Question 24

What bribery legislation are you aware of?

Answer 24

H

Question 25

What is a bribe?

Answer 25

A

Question 26

What are the penalties for accepting a bribe?

Answer 26

B

Question 27

What are the penalties for being involved in money laundering?

Answer 27

C

Question 28

What constitutes an offence under the Bribery Act 2010?

Answer 28

D

Question 29

What constitutes an offence under the current money laundering regulations?

Answer 29

E

Question 30

How long should you keep anti money laundering records for?

Answer 30

F

Question 31

What is Professional Indemnity Insurance (PII)?

Answer 31

G

Question 32

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

Answer 32

H

Question 33

What is a PII aggregation clause?

Answer 33

A

Question 34

What does ‘claims made’ mean in terms of PII?

Answer 34

B

Question 35

Is a PII excess usually paid for per claim?

Answer 35

C

Question 36

In a negligence claim what would help to show that you acted with consideration and due process?

Answer 36

D

Question 37

Can good record keeping help to provide a defence in a PII claim?

Answer 37

E

Question 38

If you were providing services outside of your usual scope to a client what might you need to do in relation to your PII cover?

Answer 38

F

Question 39

What is run off cover?

Answer 39

G

Question 40

What RICS requirements are there relating to run off cover?

Answer 40

H

Question 41

What changes did RICS recently make to the Minimum Approved PII Wording?

Answer 41

A

Question 42

Would a dictated report avoid the need to have any written site notes?

Answer 42

B

Question 43

Explain PII requirements relating to fire safety cover and cyber cover.

Answer 43

C

Question 44

How long can a PII claim arise after the work is undertaken?

Answer 44

D

Question 45

What is the Assigned Risks Pool (ARP)?

Answer 45

E

Question 46

Who might need to access the ARP?

Answer 46

F

Question 47

Explain your understanding of the RICS Professional Standard Risk Liability and Insurance (1st Edition).

Answer 47

G

Question 48

Explain when you might agree a liability cap.

Answer 48

H

Question 49

How would set out third party reliance in Terms of Engagement?

Answer 49

A

Question 50

What are the three key terms that should be considered from a risk

Answer 50

B

Question 51

perspective in the context of every instruction you undertake?

Answer 51

C

Question 52

What is an annual return?

Answer 52

D

Question 53

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

Answer 53

E

Question 54

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

Answer 54

F

Question 55

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

Answer 55

G

Question 56

Why is CPD important?

Answer 56

H

Question 57

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

Answer 57

A

Question 58

What is double dipping (dual agency)?

Answer 58

B

Question 59

Why is double dipping (dual agency) an unacceptable practice?

Answer 59

C

Question 60

How would you close down a regulated firm?

Answer 60

D

Question 61

What can you tell me about RICS guidance relating to bribery corruption or money laundering?

Answer 61

E

Question 62

What status does it hold?

Answer 62

F

Question 63

What are some of the key principles of this guidance?

Answer 63

G

Question 64

What must/should firms/members do to comply with the guidance?

Answer 64

H

Question 65

What are the current RICS rules for registration of firms?

Answer 65

A

Question 66

Who is a ‘qualified member’ of RICS?

Answer 66

B

Question 67

What is a phoenix firm?

Answer 67

C

Question 68

When must a firm register for regulation?

Answer 68

D

Question 69

What are the registration eligibility criteria?

Answer 69

E

Question 70

Who is a Responsible Principal?

Answer 70

F

Question 71

What happens if a firm cannot comply with the eligibility criteria?

Answer 71

G

Question 72

What are the rules around use of the RICS logo and ‘Regulated by RICS’ designation?

Answer 72

H

Question 73

Tell me about the restrictions to the use of the designation ‘Chartered Surveyors’ by firms.

Answer 73

A

Question 74

What must be included in ToE relating to firm regulation?

Answer 74

B

Question 75

What is a locum and who might need one?

Answer 75

C

Question 76

How could a sole trader set up their CHP using a locum?

Answer 76

D

Question 77

What RICS guidance relates to handling client money?

Answer 77

E

Question 78

When was this last updated?

Answer 78

F

Question 79

What do the RICS Rules of Conduct say about client money?

Answer 79

G

Question 80

Explain your understanding of the RICS Scheme Rules relating to client money protection.

Answer 80

H

Question 81

What are the main schemes available to firms?

Answer 81

A

Question 82

When were these last updated?

Answer 82

B

Question 83

What is the current compensation limit?

Answer 83

C

Question 84

What does the annual regulatory review fee relate to?

Answer 84

D

Question 85

What might client money include?

Answer 85

E

Question 86

How does this differ to office money?

Answer 86

F

Question 87

What are some of the key principles of the RICS Professional Standard

Answer 87

G

Question 88

relating to client money protection?

Answer 88

H

Question 89

Explain the key themes from the RICS Futures 2020 Report.

Answer 89

A

Question 90

Explain the potential implications of the Hart v Large case.

Answer 90

B

Question 91

Explain your understanding of precedent set in Burgess v Lejonvarn.

Answer 91

C

Question 92

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

Answer 92

D

Question 93

Explain your understanding of the RICS Levitt review.

Answer 93

E

Question 94

What is whistleblowing?

Answer 94

F

Question 95

What does good governance mean to you?

Answer 95

G

Question 96

Explain what the Pandora Papers are and the ethical issues raised within them.

Answer 96

H

Question 97

Explain what you understand by the RICS Bichard Review.

Answer 97

A

Question 98

Explain some of the recommendations of the Bichard Review.

Answer 98

B

Question 99

How will these recommendations be implemented by RICS?

Answer 99

C

Question 100

How do professional integrity and professional ethics differ?

Answer 100

D

Question 101

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

Answer 101

E

Question 102

Explain the implications of the Sanctions and Anti-Money Laundering Act 2018.

Answer 102

F

Question 103

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

Answer 103

G

Question 104

Why was the Register of Overseas Entities introduced?

Answer 104

H

Question 105

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

Answer 105

A

Question 106

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

Answer 106

B