Ethics, rules of conduct and professionalism Flashcards
Why do you want to become a member of RICS?
What is the role of RICS?
What are the key functions of RICS?
What is a Royal Charter?
Who is the current RICS president?
What do you understand by the term self-regulation?
Can you tell me what you understand by the principles of better regulation?
What is a Bye-Law?
Give an example of one of the RICS Bye-Laws.
Explain to me the new RICS Rules of Conduct - what do they replace?
When do they take effect?
Who do they relate to?
What are the ethical principles that the Rules of Conduct are based on?
What are the 5 Rules?
Give an example behaviour for each.
What are the core professional obligations of firms and members to RICS?
What disciplinary procedures can the RICS impose?
In what circumstances can these be imposed?
When did RICS last update their disciplinary panel rules?
What are the different levels of action within these procedures?
What do you understand by the term professional practice?
What money laundering regulations or legislation are you aware of?
What is a red flag of money laundering?
What bribery legislation are you aware of?
What is a bribe?
What are the penalties for accepting a bribe?
What are the penalties for being involved in money laundering?
What constitutes an offence under the Bribery Act 2010?
What constitutes an offence under the current money laundering regulations?
How long should you keep anti money laundering records for?
What is Professional Indemnity Insurance (PII)?
Can you tell me about the RICS requirements in relation to PII?
What is a PII aggregation clause?
What does ‘claims made’ mean in terms of PII?
Is a PII excess usually paid for per claim?
In a negligence claim what would help to show that you acted with consideration and due process?
Can good record keeping help to provide a defence in a PII claim?
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?
What is run off cover?
What RICS requirements are there relating to run off cover?
What changes did RICS recently make to the Minimum Approved PII wording
Would a dictated report avoid the need to have any written site notes?
Explain PII requirements relating to fire safety cover and cyber cover.
How long can a PII claim arise after the work is undertaken?
What is the Assigned Risks Pool (ARP)?
Who might need to access the ARP?
Explain your understanding of the RICS Professional Standard Risk Liability and Insurance (1st Edition).
Explain when you might agree a liability cap.
How would set out third party reliance in Terms of Engagement?
What are the three key terms that should be considered from a risk perspective in the context of every instruction you undertake?
What is an annual return?
Tell me what you understand about Complaints Handling Procedures
When and how can the RICS be involved in a complaint about a firm or member?
Can you tell me about the CPD requirements for members of RICS?
Why is CPD important?
Tell me about the RICS’ guidance on dealing with Conflicts of Interest.
What is double dipping (dual agency)?
Why is double dipping (dual agency) an unacceptable practice?
How would you close down a regulated firm?
What can you tell me about RICS guidance relating to bribery corruption or money laundering?
What status does it hold?
What are some of the key principles of this guidance?
What must/should firms/members do to comply with the guidance?
What are the current RICS rules for registration of firms?
Who is a ‘qualified member’ of RICS?
What is a phoenix firm?
When must a firm register for regulation?
What are the registration eligibility criteria?
Who is a Responsible Principal?
What happens if a firm cannot comply with the eligibility criteria?
What are the rules around use of the RICS logo and ‘Regulated by RICS’ designation?
Tell me about the restrictions to the use of the designation ‘Chartered Surveyors’ by firms.
What must be included in ToE relating to firm regulation?
What is a locum and who might need one?
How could a sole trader set up their CHP using a locum?
What RICS guidance relates to handling client money?
When was this last updated?
What do the RICS Rules of Conduct say about client money?
Explain your understanding of the RICS Scheme Rules relating to client money protection.
What are the main schemes available to firms?
When were these last updated?
What is the current compensation limit?
What does the annual regulatory review fee relate to?
What might client money include?
How does this differ to office money?
What are some of the key principles of the RICS Professional Standard relating to client money protection?
Explain the key themes from the RICS Futures 2020 Report.
Explain the potential implications of the Hart v Large case.
Explain your understanding of precedent set in Burgess v Lejonvarn.
What do RICS set out as good practice for the use of social media?
Explain your understanding of the RICS Levitt review.
What is whistleblowing?
What does good governance mean to you?
Explain what the Pandora Papers are and the ethical issues raised within them
Explain what you understand by the RICS Bichard Review.
Explain some of the recommendations of the Bichard Review.
How will these recommendations be implemented by RICS?
How do professional integrity and professional ethics differ?
What is modern slavery and how would you identify red flags of it?
Explain the implications of the Sanctions and Anti-Money Laundering Act 2018
What is the Sanctions List and why should you be aware of it?
Why was the Register of Overseas Entities introduced?
What are the six RICS values published as a result of the Levitt review?
Explain the impact of the Economic Crime (Transparency and
Enforcement) Act 2022.
How do you ensure that you comply with bribery legislation?
How do you ensure you comply with money laundering regulations?
How do you ensure you comply with your firm’s bribery and gifts policy?
Tell me about an instance of when you have been offered a gift or hospitality by a client.
Tell me about what you would do if you felt that an instruction was outside your scope of experience or knowledge.
Tell me about an instance of when you have handled client’s money.
I have not handled clients money.
How would you keep client’s money securely and safely held?
Tell me about how you would handle a client complaint.
Tell me about your understanding of your firm’s process for escalating a
complaint to Alternative Dispute Resolution (ADR).
Tell me about a conflict of interest check you have carried out.
If you identified a potential or actual conflict of interest how could you handle this?
Titchfield Road
I received a call from a vendor following a survey undertaken by a
colleague. I was asked to discuss information within a Home Survey
Report. I made it clear that I could not disclose any information as they
were not our client
Why are we not able to disclose any information?
Following the call what next steps did you follow?
Sand Pipers
I prepared a formal fee proposal for pre and post contract services for
concrete repairs to a garage block. I clearly set out the fees and the scope of service for each stage ensuring the document was easy to
understand. I sent the fee proposal with our terms of engagement.
How did you go about preparing your fee proposal?
How did you assess the level of fee?
Why did you issue your terms of engagement?
What does this document outline?
Give me an example of when you have acted with integrity?
Tell me about when you have provided a high standard of service.
Tell me about how you have promoted trust in the profession.
Explain how you have taken responsibility in your current role.
Tell me about how you treat clients with respect.
Tell me about how you treat other surveyors with respect.
Explain the key steps you would take if you decided to set up in practice as a sole trader after qualifying.
If a prospective purchaser offered you a financial incentive to accept their offer
explain how you dealt with this?
What would you do if you were asked by a client to reduce a fee proposal to win new work?
What would you do if you became suspicious that a client was involved in money laundering?
What would you do if you became suspicious that a client was involved in terrorist activities?
If you were to set up in practice on your own tell me about the types of insurance you would need.
Sussex Road
Following a supervised Level 3 inspection, I discussed high ground levels causing localised dampness and the need to carry out maintenance to
the roof due to the absence of a secondary lining. The client requested that I exaggerated the damp and roof issues and stated that a complete
re-roof and damp proofing were required. I advised that all information within the report would be a professional and honest reflection of the
condition of the property at the time of inspection
What is a level three inspection?
Why did the client want you to exaggerate the issues?
What implications were this of hurt?
Wilberforce Road
After serving Party Wall etc Act 1996 Notices for a rear extension, the adjoining owner dissented and appointed a surveyor. The extension was
simple in nature, so I suggested the owners used the other surveyor as an agreed surveyor. I advised that I had not acted in the capacity of a party wall surveyor when sending the notice, as there was no dispute at
that stage. While this meant a loss of instruction, ethically, it was the right course of action as the building owner did not incur the unnecessary cost of two surveyors’ fees to produce an award
How was this an ethical decision?
Given the adjoining owner had the option of agreed Surveyor why was this contested?
How did you go about your discussions with your client?
