Ethics, Rules Of Conduct, Professionalism Flashcards

1
Q

What sort of information do registered firms have to send to the RICS annually?

A
  • Annual return – completed online failure results in a fixed penalty
  • Type of business and staff
  • Nature of clients
  • Training provision
  • Complaints handling procure
  • PI insurance details
  • Whether the firm holds any client money
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2
Q

What must a complaints handling procedure include?

A

The RICS provides a model form

  • Must include a redress mechanism
  • Detail should be issured to the client with the terms of business
  • Must be clear quick transparent and inpartial and free
  • Names and contact details of the nominated inestigating person must be stated.
  • Complaint must be investigated within 28 days
  • All complaints, progress and outcomes must be recorded
  • Note the need to advise PI insurers of a complaint
  • 2 stages as a minimum
  • Consideration of the complaint by a senior member of the firm
  • If not resolved, referred to an independent third party with the authority to award redress
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3
Q

If you was chartered how would you deal with a situation such as a friend asking you to provide them with QS advice?

A
  • I can not advise on my own without PI insurance.
  • If I do have my own PI insurance then I would ensure that the info given was subject to the thorough checking process given to all info prior to accepting instructions regardless of who it was
  • Inform then to contact me during working hours to discuss t&c’s of appointment.
  • If I am not comfortable acting for them then I will advise them to use the RICS find a surveyor scheme.
  • Adhere to rules of conduct
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4
Q

What does PII stand for?

A

Professional indemnity insurance

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5
Q

What is the purpose of PII?

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, error or omission.

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6
Q

What benefits does PII provide?

A
  • the Professional is protected from financial loss.

- Does not have to meet the claim from their own assets and resources allowing smooth continuity of business

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7
Q

What basis should PII be underwritten?

A

On a claims made basis

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8
Q

What does on a claims made basis mean?

A
  • This is the insurance policy that is in place at the time the breach is discovered that is claimed.
  • Not the insurance policy in place when the breach was made
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9
Q

Tell me about Merrett v Babb?

A
  • Court case in 2001
  • Babb had done a valuation as an employee of a company for a house purchased by Merrett
  • Valuation later found to be negligent
  • Original company no longer existed.
  • Court ruled Merrett could pursue the individual Babb for the losses
  • Big shock in the industry
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10
Q

What is the significance of the Merrett v Babb case?

A
  • Considered if a professional employee was vulnerable to claims brought directly against them for advice given on behalf of their employers
  • Highlights importance of run off cover
  • Professional individuals and firms must ensure that run off cover is in place after they leave or their firm’s employment or a firm ceases trading.
  • Individuals should ensure that their ex company keeps up this cover on their behalf.
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11
Q

How long should run off cover be in place for?

A
  • Dependant on type of contracts the professional is involved in.
  • Usually 6 years minimum but RICS advises 15 years
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12
Q

What are the requirements regarding PI by the RICS

A
  • Must be made on an ‘each and every’ claim basis
  • Gives min wording
  • Sets out minimum levels of indemnity
  • Sets out minimum level of uninsured excess
  • Run off cover must be in place for 6 years
  • Should include cover for past and present employees, directors and partners
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13
Q

What are the minimum levels of indemnity? / how do you determine the level of PI cover?

A

Depends on turnover

  • If turnover is 100k or less – 250K
  • If turnover is 100k-200k – 500k
  • If turnover is above 200k – 1mil
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14
Q

What are the maximum level of uninsured excess

A
  • Depends on the level of indemnity
  • Up to 500k = greater of 2.5% of insured sum or 10k
  • Over 500k = 2.5% of insured sum
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15
Q

What measure should be taken to avoid PI claims, name at least 3

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
  • Don’t advise on specialism outside of experience
  • Use rics guardance
  • Avoid poor organisation and high workloads.
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16
Q

When did the new RICS rules of conduct become effective?

A

2 Feb 2022

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17
Q

how many professional obligations to RICS are there for RICS members?

A

3

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18
Q

How many professional obligations to RICS are there for Firms?

A

7

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19
Q

What are the five rules of conduct?

A
  1. Members and firms must be honest, act with integrity and comply with their professional obligations, including obligations to RICS.
  2. Members and firms must maintain their professional competence and ensure that services are provided by competent individuals who have the necessary expertise.
  3. Members and firms must provide good-quality and diligent service.
  4. Members and firms must treat each other with respect and encourage diversity and inclusion.
  5. Member 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

HICSRR

Principles of better regulation

PACTT

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20
Q

What is rule 1 and can you give an example?

A

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

Example – i have remained firm in sticking to the correct valuation process when asked to deviate by a ratepayer requesting a reduction

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21
Q

what is rule 2 and can you give an example?

A

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

Example – not acting beyond my competence, seek specialists where required. HMRC Tax example

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22
Q

what is rule 3 and can you give an example?

A

Members and firms must provide good-quality and diligent service.
Example – use terms of engagement to clearly meet the needs of the client. Timeliness

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23
Q

What is rule 4 and can you give an example?

A

Members and firms must treat each other with respect and encourage diversity and inclusion.

Example – respectful in IHT negs - Q&A after training

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24
Q

what is rule 5 and can you give an example?

A

Member 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

Example – questioning any suspectable behaviour and be a whistle blower if required.

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25
Q

what is a whistle blower?

A

A worker who reports wrongdoing in the public interest such as fraud or the company breaking the law.

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26
Q

Can you lose your job for blowing the whilstle?

A

You are protected by law if you unfairly lose your job.

You can take a case to employment tribunal if your treated unfairly because you’ve blown the whistle.

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27
Q

What is a tribunal?

A

A court that settles certain types of disputes.

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28
Q

which rule states that members must comply with 3 professional obligations to the RICS?

A

Rule 1

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29
Q

What are the 3 professional obligations to the RICS for members?

A
  • Members must comply with the CPD requirements set by RICS
  • Members must cooperate with the RICS
  • Member must promptly provide all information reasonably requested by the standards and regulations board, or those exercising delegated authority on its behalf.

C.C.I
(think CCA but I for individual obligations)

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30
Q

what are the seven obligations mandatory for RICS-regulated firms?

A
  1. Firms must publish a complaints-handling procudure which includes an alternative dipute resolution provider approved by 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 insurance cover that meets the standards approved by 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 ability to work.
  4. Firms must cooperate with 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 that they are regulated by RICS.
  7. Firms must report to RICS any matter that they are required to report under the Rules for the Registration of Firms.

C.P.S.C.I.L.R
CPS-CIL-R
Companies continue w/RICS

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31
Q

What are the main Rules for the Registration of Firms? (2)

A
  • Firms must have at least 50% principles (RICS Qualified members senior manager, partner or owner)
  • Regulated firms must designate a ‘Responsible Principal’ who will provide oversight, accountability and engagement with RICS standards and regulation.
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32
Q

Who makes the rules for registration of firms?

A

Standards and regulation board

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33
Q

how can you negate the chances of breaking rule 2 “Members and firms must maintain their professional competence and ensure that services are provided by competent individuals who have the necessary expertise.”

A

Follow RICS standards and guidance

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34
Q

what is the hierarchy of RICS documents?

A
International standards
Global professional standards
UK professional statements
Guidance notes
Codes of practice

I G U G COP

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35
Q

What are RICS bye-laws?

A

Principles underpinned by the rules and regulations

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36
Q

what are RICS regulations

A

Regs that Build on the by-laws with further detail on areas such as fees and membership.

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37
Q

Define RICS

A

The Royal Institution of Chartered Surveyors incorporated by Royal Charter

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38
Q

Define Surveyor

A

A person who provides a service related to the profession of a surveyor as set out in the Charter.

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39
Q

when was the RICS incorporated by Royal Charter?

A

26th August 1881

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40
Q

When was the RICS founded?

A

15th June 1868

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41
Q

what does RICS having royal charter mean?

A

RICS has a seat on the privy council to advise the crown (his majesties government).

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42
Q

what does the royal charter require members to do?

A

Promote the profession for public benefit.

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43
Q

Who is the RICS President?

A

Tina Paillet FRICS

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44
Q

who are the members of the presidential team?

A

President – Tina Paillet
President Elect – Justin Sullivan
Senior Vice President – Nicholas Maclean
CEO – Justin Young

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45
Q

what is the RICS Motto?

A

Modus est rebus – there is measure in all things

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46
Q

What is the VOA policy on gifts?

A

We do not accept gifts generally, unless of very small monetary value

polite but firm refusal

tea / coffee / biscuits fine

if unsure consult HR

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47
Q

Tell me about the RICS professional statement on Money Laundering
Countering bribery and corruption, money laundering and terrorist financing, PS 2023

A

Sets Mandatory requirements for anti-money laundering such as:
- Not facilitate or be complicit in money laundering or terrorist financing activities
- have systems and training in place to comply with these laws, and ensure these are followed
- report any suspicions of money laundering or terrorist financing activities to the relevant authorities
- verify the identity of clients by undertaking basic identity checks.
- understand the client and the purpose of the transaction
record and retain information detailing how the firm has met the requirements of this professional statement.

Guidance sets out supporting good practice regarding anti-money laundering. Such as:
- Have a written policy addressing money laundering and terrorist financing risks
- Have appropriate governance and systems controls in place, proportionate to the type of work the firm does
- provide appropriate, recurring training for staff, to ensure they are familiar with the risks associated with money laundering.
- keep reports of suspicion of money laundering and terrorist financing activity confidential
- appoint a senior person to be responsible for ensuring anti-money laundering and counter-terrorist financing policies are in place and complied with.

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48
Q

Tell me about the RICS professional statements on Conflicts of interests.

A

Global professional statement providing clear rules for RICS members and firms to identify and manage conflicts of interest.
Given clarity on dual agency position and conflicts arising during professional assignments

49
Q

Tell me about the RICS professional standard 2 in the red book.

A

Ethics, competency, objectivity and disclosures

In keeping with the integrity of the valuation process, all members practicing as valuers must have the appropriate experience, skill and judgement for the task at hand.

Members must always act in a professional and ethical manner free from undue influence (bribe), bias or conflict of interest.

50
Q

What would you do to set up your own firm in terms of RICS compliance?

A
  • RICS firm details form
  • Appoint responsible principle
  • Register for RICS REGULATION
  • Register for RICS valuer scheme
  • Send PII details to RICS
  • Get RICS approval for complaints handling procedure
  • Make arrangements for succession (if sole practitioner)
  • Set up procedures for clients’ money
  • RICS logo kit
  • Complete RICS annual return at end of each year

FARV PLACC

51
Q

What would you do to set up your own firm in terms of Statutory compliance?

A

Equality act 2010 compliance (disability discrimination compliance)
Bribery act 2010 compliance
Register for data protection (GDPR and DPA)
Appoint a money laundering reporting officer (Money laundering regulations 2017)
Inform HMRC for VAT and Tax registration.
Ensure compliance with current employment law (living wage, hours, pension etc)

BEM DIE
Bribery
Equality
Money laundering officer

Data protection registration
Inform HMRC
Employment law

52
Q

What do you know about RICS registered valuer scheme?

A

Valuer Registration scheme is a risk monitoring and quality assurance programme which checks compliance with the RICS Red Book.

Ensures that members always meet the highest valuation standards.

Becoming a Registered Valuer therefore offers protection and confidence both to you and your clients.

When you sign up for Valuer Registration, you agree to be audited by our team of Regulatory Surveyors. They will check that you are complying with all stated mandatory professional standards and following best practice guidelines

As a Registered Valuer, you can use the RICS Registered Valuer designation. You can also use the accreditation logo.

53
Q

what is bribery and the offences?

A

Giving or receiving a financial or other advantage in return for improper action or reward.
Four offences are reieving a bride. Giving a bribe, failing to prevent a bribe and bribing a foreign official officer.

54
Q

firms are required to register with RICS if what?

A

Firm provides surveying services to the public
Firm operates in Regulated Area A
At least 50% of the firms principles are RICS Members

55
Q

what is regulated area A?

A

UK

56
Q

why is regulation required of the RICS?

A

To inspire confidence in the professional leadership of the RICS.

57
Q

tell me about the structure of the RICS

A

3 Levels under the Privy Council

Led by the governing Council

Then standards and regulation board, management board etc

Then finance committee and advisory panels.

P GSA

58
Q

what is Privy Council

A

A body that advises the state

They Grant and award Royal Charters

59
Q

what do you know about the Levitt Review?

A

Alison Levitt carried out a review into RICS governance in 2021.

Review was required following concerns over a financial audit in 2018 and the unfair treatment of 4 non-executive member who raised the issues.

She recommended on governance, Executive remuneration, whistle blowing and legal advice (18)

RICS adopted all the recommendations

Bad time for the RICS but the process has started to build a brighter future

60
Q

can you tell me more about the recommendations suggested by Alison Levitt?

A
  • Greater oversight for Governing Council
  • Updates should be provided by the Chair of Boards or committees, not by the Chief Executive
  • More frequent meetings of the Management Board
  • Members should be able to raise issues with Governing Council directly.
  • Financial bonuses at senior executive level should be reviewed to determine if they are appropriate for a professional membership organisation.
  • The whistle-blowing procedures should be overhauled to allow any complaint against a senior member of the senior leadership team to be referred to an independent third party.
  • External legal advice should always be given on the basis that RICS is the client, not its senior management. The provision of legal advice to RICS should be determined by competitive tender every three years.
  • public apologies to those dismissed (4)
61
Q

why would you close down a firm?

A

Insolvency
Retirement
Merger
Or closure part of strategic decision

62
Q

why does a firm need to be closed down properly?

A

Avoid issues of non-compliance with the RICS rules of conduct

To reduce risk of future legal or professional negligence claim.

63
Q

steps to closing a firm (name at least 5 things you would do)

A

1 – agree closure date and seek advice on insolvency
2 – inform staff and deal with redundancies
3 – inform clients – could another firm take on the work?
4 – deal with outstanding client money – in line with RICS professional statement Client money handling
5 – Tell PII to arrange run off cover
6 – arrangements for hard copy and electronic files – keep for 15 years (as long as required)
7 – Get hard copy original documents being held by clients
8 – inform RICS and complete firm de-registration form
9 – set up contact notices to notify no longer practice
10 – inform legals (insurances, bank, HMRC, accountant, solicitor, information commissioner for data protection perposes)

64
Q

What is a Phoenix firm?

A

Where an RICS registered firm closes in a disorderly way and then reregisters quickly as a new entity.

Relates to firms who want to form partners

Where a firm is insolvent or closes without sufficient run off cover in place

65
Q

How can Phoenix firms be dealt with at RICS?

A
  • Refusing registration of new firm
  • Holding registration until outcome of pending disciplinary
  • Risk mitigation measures
  • License measures
  • Monitored closely on an ongoing basis
  • Additional staff training imposed on issues concerned
66
Q

give me an example of when you have acted with integrity

A

Valuing police station in Folkstone.
Noticing the agent had left out an allowance for a flat roof on thier valuation i notified them of this and added it to my calculation of Rateable Value.

67
Q

How would you deal with a complaint?

A

I would advise my manager that I had replied to the customer within 3 days of receipt of their email. Showing him the email thread.
I looked into the valuation of the case again. And advised my manager I was satisfied.
I would advise manager it best if they contacted the ratepayer direct, to show we had taken the complaint serious.

68
Q

what would you do if you became suspicious a client was involved in money laundering?

A

Complete an enhanced due diligence check
Inform senior person responsible for money laundering at my firm
Document all stages and events
Report any suspicions of money laundering to the relevant authorities

69
Q

what is a locum?

A

Arrangements to cover the incapacity or death of a sole practitioner.
Another professional who is appointed to stand in for the surveyor if they are unable to work i.e illness, prolonged absence or death.

70
Q

who can be a locum?

A

Typically another chartered surveyor

Could also be a solicitor or accountant by trade (trusted professional)

71
Q

why did the previous rules of conduct change?

A
  • Previous rules in place since 2007
  • Following research and consultation with RICS menbers, firms and members of the public, majority voted in favour of replacing.
  • To provide a single document for greater clarity over members and firms
  • Greater focus on clearer examples, evolving technology and tackling climate change.
72
Q

talk us through your understanding of the rules of conduct changes

A

The rules of conduct Global practice statement overhauls the previous separate documents: Rules of conduct for members, rules of conduct for firms and Global Professional and Ethical Standards.

Appendix A of the Rules of Conduct now contains the professional obligations of members and firms

73
Q

why does the RICS have rules of conduct?

A
  • Provide a framework to work to and so clients know they are getting a set level of service
  • Useful professional guide for the RICS and its members
74
Q

give 3 examples where you may refer to the RICS decision tree to seek guidance

A

Receiving gifts in professional capacity

  • Equal opportunities
  • Whistleblowing
  • Copyright and ownership
  • Conflicts of interest
  • Charitable donations
  • Attendance at hospitality events
75
Q

What are the RICS 5 principles of better regulation?

A
Proportionality
Accountability
Consistency
Targeting
Transparency
76
Q

What is the role of the RICS

A

To promote and shape the development of suryerors in the professional sharing rules, guidance and practices to best self-regulate the profession for the benefit of its members, clients and wider public.

77
Q

Key functions of the RICS?

A
Regulate
Apply legislation
Training / educate
Guidance
Rules / governance
Royal charter
78
Q

what is the RICS corporate governance structure shaped by?

A

Royal charter
Bye-Laws
Regulation

79
Q

Which firms can use the designation “Chartered Surveyor”?

A

Sole practitioner who is a chartered surveyor.

Partnership if 50% or more of partners are chartered members (provided no Partner has been expelled and not re-admitted)

Company carrying out surveying services if 50% of principles are chartered.

This is defined in the bye-laws

80
Q

What is the VOA Complaints Handling Procedure?

A

VOA has its own Complaints investigation team, we publish details of it and report it so clients are aware of it.

2 stages

  • VOA has Tier 1 (Business Stream); Tier 2 (Agency CIT); then as a govt body certain matters can be referred to an Ombudsman
81
Q

name the 5 principles of better regulation and explain what two of them mean?

A

Proportionality – RICS should only intervene when necessary and any remedies or punishments should be proportionate.
Accountability – regulators must be able to justify their actions and explain why decision have been taken.
Consistency – fair and level playing field treating everyone the same.
Targeting – focused on the problem. Unambiguous to any regulations introduced
Transparent – keep regulations simple and user friendly, effective communication to assist in line with regulation.

82
Q

where do you get indemnity insurance from?

A

List of approved insurers on RICS website

83
Q

what is the clients money protection scheme?

A

Run buy the RICS
Provides for any member of the public to be reimbursed for their direct loss of funds
Provided through RICS insurance policy

84
Q

How would you deal with early payment before you have provided service

A

Set up a separate client account that is properly named and identifiable
Provide the client with a statement of account
Inform the client when the work will be complete

85
Q

What advice did you give in relation to the Farmhouse in Edenbridge?

A

I advised the unrepresented tax payer of the valuation process in relation to Inheritance tax, i was respectful in my approach knowing how sensitive the topic can be. I listened to their concerns and further was able to prevent a complaint.

86
Q

What advice did you give in relation to the House in Harrow?

A

knowing our client HMRC are best suited to advise on Tax specifics I advised the executor to visit HMRC’s relevant web page on loss on sale of land (IHT38) or to contact them directly, this will ensure the executor receives the most accurate information.

87
Q

What advice did you give in relation to the Office in Whitstable?

A

an unrepresented ratepayer asked for a reduction in the valuation for the inconvenience of waiting for a response, I was understanding of their grievances however I remained professional advising that the Rateable Value is a statutory valuation and I have a duty maintain a fair and accurate Rating List. I further advised them of the company complaints procedure as a last resort should they wish to make a complaint.

88
Q

VOA complaints procedure?

A

Tier 1 - business stream manager will review
Tier 2 - Complaints team member will review

Both tiers response time usually within 20 working days

if unhappy Independent adjudicator or ombudsman

89
Q

When have you demonstrated the 5 ROC?

A

H+I - Police Station in Folkstone
Professional Competence - House in Harrow
Good quality service - Farmhouse Edenbridge i remained professional while also conducted myself well as a human being avoiding a complaint
Respect - Farmhouse Edenbridge
Responsibility - Restaurant in Margate - recording gifts

90
Q

Are you aware of any RICS bye laws?

A

Bye Law B5.2.1a to conduct oneself to benefit the membership of RICS

91
Q

VOA key principles

A

Code of Conduct - integrity, impartiality, independence

92
Q

RICS Gift Policy

A

Reasonable and proportionate - if accepted should be recorded correctly

93
Q

What is an expert witness?

A

impartial opinion
independent
advise in writing
not to act as a advocate or mediator

94
Q

What is an advocate?

A

representing a client in judicial process
argue for client
no use of in my opinion

95
Q

What is dual appointment?

A

Where you act as an expert witness and advocate

it is rare and only happens in lower level courts and other party is not legally represented

96
Q

Why do you want to be a RICS surveyor?

A

To be able to practice at the highest standard and contribute to building trust in the profession.

97
Q

When have you not quite met a ROC?

A

When dealing with multiple Rating cases I have delayed an inspection to conduct it at a later date with another nearby property, though this reflects sustainable personal practice this did not provide the best, diligent service to the occupier or client.

98
Q

RICS complaints handling requirements?

A

Stage 1 - In house - 7 day acknowledgement 21 day response
Stage 2 - ADR

99
Q

How is a conflict identified in the VOA?

A

Rating - personal only - reported to manager - work moved to another colleague
DVS - history working sheet check - notify team leader - and or advice from CVG

to solve
- informed consent
- info barrier
- new case worker
- reject instruction

100
Q

Money laundering red flags?

A
  • unwillingness to show documents
  • change of parties
  • unexpected urgency
101
Q

Examples of Due Diligence?

A
  • identity evidence
  • ask who what why
  • transaction frequency
102
Q

Are you aware of any recent updates regarding acting as an expert witness or advocate?

A

yes, RICS Practice Alert - Expert Witnesses (2024)

highlighted importance of adhering RICS Survyeors acting as expert witnesses
set out a questionaire to answer if instructed
highlighted case Jones V Kaney 2011 overturning immunity from damages for negligence

103
Q

What is a bye law?

A

rules made by professional bodies to control its members

104
Q

Are you aware of any RICS documentation on Bribery?

A

Countering Bribery, Corruption, Money Laundering and Terroist financing - Professional Standard issued 2023

105
Q

What would you follow to ensure good client money handling?

A

RICS Client Money Handling (2019)

106
Q

Why would a ceasing firm require 6 years run off cover?

A

As per The Limitation Act 1980 - sets timescales of when action can be taken regarding breaches

Contract law - 15 year backstop

107
Q

Are you aware of any RICS guidance relating liability?

A

RICS Risk Liability and Insurance 1st ed (2023) - sets out courts approach

108
Q

What are the 6 principles of Bribery prevention?

A
  1. Proportionate Proceedures
  2. top level commitment
  3. Risk Assessment
  4. Due diligence
  5. Comms
  6. Monitoring and Review

PT RADCOMMM

109
Q

Can you tell me about the RICS diciplinary proceedures?

A

Complaints are issued to the Head of Regulation (authorised by the Regs Board) who will decide the next step based on seriousness of the case.

can impose a Regulatory compliance order by agreement which can include a fine or other condition while still being able to practice.

if member does not agree but case does not warrant a hearing it can go to a single member of regulatory tribunal tom determine action (inclduing expulsion)

if more serious it may be referred to a hearing with the Diciplinary Panel where action can range from fine to expulsion

110
Q

How many Bye Laws are there and can you name some?

A

B.1 - Applications and Definitions
B.2 - Membership and Registration
B.3 - Designations
B.4 - Contributions to Funds
B.5 - Conduct
B.6 - Governing Council
B.7 - Subordinate Boards
B.8 - Proceedure for meetings
B.9 - Accounts and Audit
B.10 - General (contracts and admin)

111
Q

What would you need to do to become FRICS.

A

5 years MRICS
Leadership role
Professional and academic acheivments
benefit profile of RICS

112
Q

RICS strategy?

A
  • maintain public trust
  • sustainability
  • align RICS purposes with stakeholders and industry
113
Q

Why would you decline work?

A
  • comptetence
  • not enough facts
  • no TOE
  • COI
  • not covered by PII
114
Q

Civil Service code?

A

Core Values

Integrity
Honesty
Impartiality
Objectivity

IHIO

115
Q

What do you understand by Assigned Risk pooling?

A

Where RICS provide PII or run off cover to a firm that cant attain it

116
Q

PGP?

A

Professional group panel
Valuation Chair - Nick Knight

117
Q

Are you aware of any modus journals?

A

Yes, I read one which looked at what material information should be provided by estate agents, help to prevent fall throughs or poor timings

118
Q

Are you aware of any RICS consultations?

A

Closed - DCF following review of REIV
Open - consultation on valuation pubs and leisure property