Ethics Test 1 Flashcards
When was the RICS founded?
1868
What was the first reference to acting in the public interest? and what date was it granted
Royal Charter in 1881
Who is responsible for approving RICS strategy and vision?
Governing Council
President of the RICS
Tina Paillet effective Jan 2024
4 levels of membership and their meanings?
FRICS / MRICS / AssocRICS and Trainee
Note 3 roles of the RICS
- Maintain high standards of education/training 2. to protect consumers through regulation 3. Leading source of information and independent advice on land, property, construction and associated environmental issues.
Name the independent review undertaken?
The Bichard RICS Review by Lord Michael Bichard
what was the date of the Bichard review?
June 2022
How many recommendations of the Bichard review?
36 in 7 key areas (8 have been implemented so far)
name one key area of the Bichard review?
A renewed focus on the public interest remit including amending the royal charter & creating a public interest panel to advise the govt council.
Benefits of being part of the RICS?
Status / Recognition / Market Advantage / Network
what are the RICS future foundations?
1) Vision 2)Mission 3) Strategic Goals 4)Values ((VMSV))
what date are the rules for the regulation of firms ?
2022
what are the requirements under the rules for the regulation of firms?
50% of principles in a firm are RICS members then it must be regulated. If its 25% then you can apply for regulation. Appoint a responsible principle. Only RICS members can use the logo. Disputes to be handled by RICS Standards and regulation board.
what is the role of the responsible principle?
to ensure all reasonable steps are taken and systems are in place to ensure compliance with regulatory and RICS requirements
