Ethics, Rules of Conduct & Professionalism

Question 1

What are the five ethical standards?

Answer 1

Act with integrity
Always provide a high level of service
Act in a way that promotes trust in the profession
Treat others with respect
Take responsibility

Question 2

What does ‘Act with Integrity’ mean’?

Answer 2

Being honest and straightforward in all that you do
Being trustworthy, open and transparent, showing appropriate necessary information, not allowing bias
Not offering or accepting gifts

Question 3

What does ‘ provide a high level of service’ mean?

Answer 3

Ensure client receives best possible advice, support or performance
Act within your scope of competence
Be transparent about fees
Be clear about the service you are providing
Communicate with the client so they can make informed decisions.
Reporting back realistic dates for work / projects

Question 4

What does ‘Act in a way that promotes trust in the profession’ mean?

Answer 4

Act in a manner to promote you and your firm in a professional way
Promoting you and the profession
Understand how your actions affect others and the environment

Question 5

What does ‘Treat others with respect’ mean?

Answer 5

Treating people with courtesy, politeness, consideration
Be aware of cultural sensitivity
Never discriminate, be polite
Encourage the firm you work for to be fair and reasonable

Question 6

Can you provide example behaviours to comply with Act with integrity ?

Answer 6

Members and firms do not mislead others by their actions or omissions

Firms have effective processes to identify actual and potential conflicts of interest

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

Members and firms do not take unfair advantage of others.

Members and firms do not facilitate any financial crime including money laundering, tax evasion, bribery or corruption.

Question 7

Can you provide example behaviours to comply with Members and firms must maintain their professional competence

Answer 7

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 maintain and develop their knowledge and skills throughout their careers.

Members and firms stay up to date and comply with relevant legislation, codes of practice and other professional and relevant technical standards.

Question 8

Can you provide example behaviours to comply with good-quality and diligent service?

Answer 8

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

Members and firms understand the risks and benefits of using relevant technology.

Question 9

Can you provide example behaviours to comply with treat others with respect?

Answer 9

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.

Members and firms develop an inclusive culture in their workplaces, support equal access and opportunity for all, and identify and address unconscious bias

Question 10

Can you provide examples to comply with Rule take responsibility for their actions?

Answer 10

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 complaints from approaching an alternative dispute resolution provider, RICS or any other regulatory body

Members and firms take appropriate action when they consider that the rules have been breached

Question 11

What must RICS firms have for complaints handling?

Answer 11

RICS conduct for firms requires a complaint handling procedure to be operated and maintain a complaints log.
It must include an ADR mechanism

Question 12

What is an effective complaints handling procedure?

Answer 12

It should be available to all staff
It should be regularly reviewed.
It should be shared with complaints

Question 13

When to notify professional indemnity insurance?

Answer 13

It’s normally requires a notification of a claim.
Failure to manage complaints may compromise the cover.

Question 14

What to do when you receive a complaint?

Answer 14

Understand the complaint and apologize
Try to request the complaint in writing
Establish the next steps and timeframes
Log the complaint and send a copy to the client in seven days

Question 15

How to evaluate a complaint?

Answer 15

Identify and notify anybody responsible.
Decide whether to start an Investigation
Free to customer

Question 16

What are the steps after evaluating a complaint?

Answer 16

Investigate
Make a decision in 28 days

Question 17

What happens if the complaint is not resolved?

Answer 17

Redress scheme - Refer to an independent third party.
Business to business disputes - RICS dispute resolution service

Question 18

When to issue a complaint handling procedure?

Answer 18

Terms of business should states a CHP is in place but don’t need to issue
Only issue when a complaint is recieved.

Question 19

What should a CHP include?

Answer 19

Who deals with complaints
Requests complaints in writing
Details the stages of a complaint
Explains the time scales of the complaint
States, if it’s unable to resolve, then advise the stage two of a third party.

Question 20

What is a bribe?

Answer 20

An inducement or reward offered, promised, or provided to gain any commercial, contractual, regulatory, or personal advantage.

Question 21

What is the Bribery Act 2010?

Answer 21

The Bribery Act 2010 covers criminal law relating to bribery. The Act contains four main bribery offences:
* Bribing another person;
* Being bribed;
* Bribing a foreign public official; and
* Failure by a commercial organisation to prevent bribery

Question 22

What are the 6 principles of the Bribery Act?

Answer 22

1. Proportionality - The action taken should be proportionate to the risk and size of the organisation.
2. Top level commitment - Those in senior positions are best placed to ensure the organisation conducts business without bribery.
3. Risk assessment - Many organisations will have little or no risk of bribery but a risk assessment will show the nature or extent of exposure to bribery. ‘
4. Due diligence - Due diligence procedures must be applied, taking a proportionate and risk-based approach, with regard to individuals who perform or will perform services on behalf of the organisation
5. Communication – employers will need to communicate their policies and procedures to staff and others who perform services, additional training may help raise awareness (proportionate to the size and type of organisation).
6. Monitoring and review – As an overarching principle, organisations should monitor and review procedures designed to prevent bribery by persons associated with it and make improvements where necessary

Question 23

Who does the Bribery Act 2010 apply to?

Answer 23

The Bribery Act will apply to an individual if:
* A British citizen has committed a bribery offence anywhere in the world.
* A British associate with a connection to the UK, such as through a business, conducts a bribery offence in or outside the UK
The Bribery Act will apply to an organisation if:
* The organisation is incorporated in the UK and has committed a bribery offence anywhere in the world.
* An organisation or partnership that has carried out business in the UK.

Question 24

What is your position for compliance with the Bribery Act?

Answer 24

• My company has an anti-bribery and corruption policy which applies to be as an employee, I strictly follow the procedures in the policy
• I would report any act of bribery to the Serious Fraud Office or National Crime Agency.

Question 25

What are the potential consequences for not adhering to the Bribery Act?

Answer 25

• There is a maximum penalty of 10 years’ imprisonment and/or an unlimited fine for individuals
• Corporates face an unlimited fine.

Question 26

What is the rics complaints handling procedure?