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RICS BS APC > Ethics, Rules of Conduct & Professionalism > Flashcards

Ethics, Rules of Conduct & Professionalism Flashcards

1
Q

What is the meaning of the RICS Motto

A

There is measure in all things

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2
Q

What is the mission statement of the RICS

A
  • To Qualify and equip their members to offer the highest standards of professional service
  • To promote and enforce standards
    -To lead solutions to the major challenges facing the built environment through professional experience
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3
Q

When was the RICS founded

A

1868

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4
Q

How is the RICS structured

A

Governing Council runs the RICS, with regulatory boards, audit committees and management board executing the strategy set by the governing council.

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5
Q

What are the RICS’ 5 principles of better regulation

A
  • Proportionality
  • Accountability
    -Consistency
    -Targeting
  • Transparency
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6
Q

What is the difference between RICS ethics and rules

A

Ethics are a set of moral values. rules are a framework that we work to.

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7
Q

How Many global professionals and ethics standards are there

A

the professional and ethics standards have been combined into the New rules of conduct in 2022.

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8
Q

When are the rules of conduct changing

A

They changed on 2nd February 2022

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9
Q

What are the new rules of conduct?

A
  • Act with integrity
  • Work within your competence and maintain competence
  • Provide a quality service
  • Encourage diversity and inclusion
  • Act in the public interest and take responsibility for their actions
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10
Q

Why did the previous rules of conduct change

A

Following research and consultation, there was a consensus that the rules should be updated.

The rules for members and firms were consolidated for clarity

and to put a clearer focus on the expected behaviours, include a focus on diversity and inclusion

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11
Q

What is your understanding of the Rules of Conduct changes

A

the rules for members and firms and professional and ethical standards were combined into the 5 rules of conduct with Appendix A covering the professional obligations to the RICS

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12
Q

What are the professional obligations to the RICS

A
  • To fulfil the CPD requirement of 20 hours per year
  • to cooperate with the RICS
  • To provide reasonably requested information required by the standards and regulation board
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13
Q

What are the professional obligations of firms

A

-Firms must publish yearly accounts
-Firms must have a published complaints handling procedure
- Firms must have adequate PII for their work
- Firms must have run off cover
- Firms with a sole principle must make arrangements for the event of the principles death or incapacitation
- Firms must cooperate with the RICS
- To provide reasonably requested information required by the standards and regulation board
- Display the regulated by RICS logo on all literature
- report any matter required to be reported under the Rules for the registration of Firms

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14
Q

Please explain the steps in the Ethics tree

A
  • First establish the facts removing emotion from the situation
  • Consider the legality
  • does it breach the RICS rules of conduct
  • make consultations for a informed decision
  • have clear evidence for your reasoning - Record the decison and reasoning
  • Consider if you would be happy for your decision to be publicly known
    -Reflect on the action if you take it
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15
Q

Why does the RIC have rules of conduct

A
  • To assure consumers of the quality and integrity of RICS members
  • To uphold standards within the profession
  • to provide a framework to members
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16
Q

someone close to you is a MRICS, but is working outside the Rules of conduct, what do you do?

A
  • Confront the person and get all the facts, remind them of their duties to the RICS
  • Inform the RICS, stating my relationship to the person
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17
Q

In the case of a breach of a rule of conduct what is the procedure

A
  • Not all breaches will result in action
  • A formal investigation by the head of Regulation
  • The RICS can request information and or visits to investigate
  • Members and firms must fully cooperate
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18
Q

How can disciplinary proceedings be triggered?

A
  • a complaint is made to the RICS
  • an allegation is made
  • the RICS receives or establishes information regarding misconduct
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19
Q

What actions can the RICS impose after investigation?

A
  • A fixed penalty
  • Consent order
  • Disciplinary panel
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20
Q

What are fixed penalties?

A

a fine

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21
Q

What are consent orders?

A

A written agreement between the RICS and the member or firm concerning the disciplinary issue.

It can require the member or firm to make certain corrective actions, or restrain them from taking certain actions for a specified period of time.

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22
Q

When is a disciplinary panel applicable?

A
  • They are used for serious breaches of conduct
  • the panel will be held in public
  • the burden of proof is on the RICS
    -A balance of probabilities approach will be taken
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23
Q

What sort of breaches would expulsion be suitable for?

A

Gross, persistent or wilful failure to comply with the rules of conduct.

Fraud, dishonesty, conviction of a serious crime, gross incompetence, deliberate discrimination, misappropriation of clients’ money.

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24
Q

Would you advertise your company in the press

A

Yes, in a manner that is in line of the rule of conduct - not to bring the RICS into disrepute

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25
Q

What insurances would you need if you started your own firm?

A
  • PII
  • Public Liability insurance
  • Employers liability
  • Buildings insurances for premises
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26
Q

What processes do regulated firms need to put in place when handling clients money?

A
  • Clients money must be securely held
    Client accounts should
  • set clear segregation of duties for employees
  • appoint a principle to oversee the account and accounting functions
  • principles cannot override the controls
  • Competent and knowledgeable staff, including cover staff
  • Secure accounting systems and records
  • client money is kept separately and clearly identifiable with the word client in the account name
  • the client must have access to the funds and be given teh bank details
  • terms of the account agreed with the client
    -the account must not go overdrawn
    -Maintain ledgers and provide a running balance
27
Q

What sort of information must firms submit to the RICS annually?

A

Firms must send through a annual return which can be done online.

This includes:
-types of business
-staffing numbers
- Training provisions
- Complaints handling procedure details and records
- PI insurance details
- Whether the firm holds clients money

28
Q

What are the different types of client money accounts?

A

General accounts - hold money for more than one client
Discrete accounts for a single named client

29
Q

What is meant by the term negligence?

A
  • Lack of due care and attention in the carrying out of duties
  • a failure of duty of care
30
Q

Why must you have run off cover?

A
  • if your company is no longer operating, individual surveyors can be pursued for damages relating to negligence claims
31
Q

What are the limitations periods of a underhand vs a deed signed contract?

A
  • Underhand gives 6 years
  • deed is 12 years
32
Q

What must a complaints handling procedure include?

A
  • RICS provides a model
  • response times - must be investigated within 28 days
    -names and contact details of the relevant people within the firm
    -two stages - first compliant is considered by a senior staff member
    Stage two - the complaint can be referred to an independent third party.
  • the details of the policy should be included in the terms of business
  • be clear quick and transparent
  • All complaints and outcomes must be recorded
    PI insurer must be notified straightaway of a claim or likely claim
33
Q

What is an independent redress scheme?

A
  • it is a consumer scheme for small issues that are not economical to take to court
  • The decision can be binding if judge in favour of the complainant
  • if not in favour, then they can escalate the matter to court
  • can be done by the ombudsman, arbitration or adjudication
34
Q

What do you do if you receive a complaint

A
  • acknowledge receipt and Provide the complaints handling procedure
  • forward to the designated complaints handling
  • inform the company partners and highlight that this should be notified to the PI insurer
35
Q

What is the clients protection scheme

A
  • This is a scheme from the RICS which guarantees that members of the public will be reimbursed for loss in the event of a failure by a RICS member
36
Q

What is the purpose of a joint name on client accounts

A
  • to allow access and authorisation by both parties
37
Q

What are the CPD requirements?

A

Members must record 20 hours per year 10 hours of which is formal, this is recorded on the online platform.

Members must undertake learning on the standards and RICS ethics on a three year rolling period

38
Q

What sort of activity can be included as CPD?

A
  • it must be relvent to the job role
    -Formal CPD must have clear learning objectives and cab be lectures, webinars, talks or courses
  • informal CPD can be self-directed learning such as reading, internal CPD and shadowing
39
Q

What type of articles do you read?

A

My workplace posts articles on the latest construction news.

I am in a number of Facebook groups that also post hot topics; I have recently read about the changes to the requirements for single-sex toilets in commercial buildings.

40
Q

How do you keep up to date with topical issues?

A

I am on a number of CPD newsletters.

My employer posts industry news and updates

I am in surveying facebook groups

I listen to podcasts such as Re:construction and the RICS podcast

41
Q

What is your CPD strategy?

A

I discuss my targeted areas with my manager during my career conversations.

I build my CPD around current issues and person development goals. with a mix of in person and on-demand types.

I am personally interested in heritage and building pathology .

42
Q

What does PII stand for?

A

Professional indemnity insurance

43
Q

What is the purpose of PII?

A

To provide insurance against negligence, error or omission claims

44
Q

What is the benefit of PII?

A
  • it is required by the RICS
  • it will prevent loss of funds if a claim is made
45
Q

On what basis is PII underwritten in the UK?

A

On a claims-made basis, which means the insurance policy that is in place at the time of the breach is discovered is responsible for providing the indemnity.

46
Q

What are the RICS requirements for PII?

A
  • It should be sufficient for the level and area of the work you do, RICS provide minimum levels based on turnover
  • the policy must cover on an each and evert claim basis
  • RICS sets the maximum level of uninsured excess
    -Run off cover must be in place for 6 years
  • the policy should cover past and present employees
47
Q

What are the minimum levels of PII

A

Turn over of £100k or less is £250K
Turn over between £100k and £200K is £500k
Over £200K is 1 Million

48
Q

What are the maximum level of uninsured excess

A

up to £10 mil turn over ; the greater of 2.5% of the sum insured or £10,000

Over £10Mil there is no limit

49
Q

What measures should you take to avoid PI claims

A
  • Practice within your competence
  • keep full and detailed records
  • follow recommendations and advice
  • follow best practice guidance notes/ RICS guidlines
  • use letters of engagement, scope of services and terms of engagement.
  • avoid overworking
50
Q

If you make a mistake on your cost plan what would your insurance company expect?

A

To be notified and comply with any conditions set out in in the policy.

51
Q

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

A
  • not necessarily; it would have been have been made without due care and skill, and the QS warranted the accuracy of the cost plan.
  • if it was due to actions outside of the QS’s control, they cannot claim
52
Q

How can you limit your liability when agreeing terms appointment?

A
  • Clearing listing exclusions from the scope
    -base the appointment on reasonable skill and care and not fitness for purpose
  • execute the appointment under hand and not by deed
53
Q

What are the main elements within the fee proposal?

A

-
- the scope of work
- the exclusions and limitations
- assumptions
- the fee breakdown
- Terms and conditions

54
Q

If you have undercooked a fee, can you ask the client for more money?

A

only if there has been a change to the work requiring additional resources.

55
Q

When a service is agreed verbally what is the next step?

A

To confirm the agreement in writing for the record, including terms and conditions, fee scope etc

56
Q

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

A

Place the funds in a separate identified bank account, and agree on a drawdown against the services being provided.

57
Q

What do you understand about conflicts of interest?

A

This is where you may act or be perceived to act in a way that is not independent or impartial because you have an existing relationship or history with another party. Conflicts of interest should be declared and if not accepted by all sides, the work should be turned down.

58
Q

How can a conflict of interest be managed when two internal departments work for a client?

A
  • procedures to keep staff separate such as working in different offices can be put in place
    -keep lines of communication to the client separated
  • Keep data storage separate
  • NDA’s
  • monitor the conflict and update the client
59
Q

How do you proceed if the client insists you work for them despite a conflict of interest?

A
  • Check the client understands the conflict and the issue
  • make sure they are aware your impartially may be reduced
    -get a letter on instruction from the client, accepting the conflict
    -put in place procedures to manage the conflict
60
Q

What are the main principles of the bribery act?

A

it is an offense to
- make a bribe
-accept a bribe
- bribery of a foreign public official
- failure of a corporate entity to prevent bribery on its behalf

Companies should put the 6 principles of prevention in place
- proportionate procedures
- Top-level commitment
- Risk assessments
- Due diligence
- communication
- monitoring and review

61
Q

Under the Bribery Act, under what circumstances is a facilitation payment permitted?

A
  • under duress Where life or limb is in real threat
62
Q

A main contractor presents you with a random prize of some value what do you do?

A
  • do not accept the prize, suggest it could be give to charity instead
    -This could be seen as a bribe
63
Q

You receive a invite to the theatre with the project team, but they drop out, do you still attend?

A

If attending had been agreed to by my company, I would in this case I have to turn down the offer as it would no longer be a business event

64
Q

A contractor invites you out for lunch to discuss a tender

A
  • explain that this is inappropriate and all queries on the tender can be raised through the usual channels and answers disputed to all tender’s.

RICS BS APC (4 decks)

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