General Qs from Q&As

Question 1

What is the difference between a NIY and a GIY?

Answer 1

NIY includes PCs (i.e. the NIY will be lower than GIY)

Question 2

What’s the difference between RPI and CPI

Answer 2

Retail Price Index includes housing costs and mortgage payments. It is generally higher than CPI and therefore it is typically more favourable to agreed to an RPI-linked rent review provision

Question 3

What are RICS bye-laws?

Answer 3

rules which are members and regulated firms must abide by

Question 4

Give an example of an RICS bye-law

Answer 4

Bye-Law 5 relates to the conduct of members, highlighting that they must behave in a manner befitting membership of the RICS

Question 5

What are the CPD requirements?

Answer 5

• Minimum 20 hours CPD per calendar year (at least 10 must be formal)
• must maintain a relevant and current understanding of RICS professional and ethical standards during a three-year rolling period
• members must record CPD activity online by 31st January