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RICS APC > JS Ethics > Flashcards

JS Ethics Flashcards

1
Q

What is the RICS mission statement?

A

Qualify and Equip members to offer highest standards of professional service
Promote and enforce standards
Lead solutions to major challenges the industry faces

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2
Q

Can you tell me what the RICS royal charter is?

A

Requires the RICS to promote the usefulness of the profession for the public advantage

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3
Q

Can you name some buy laws

A

Application and definition
Membership and Registration
Conduct
Governing council, officers and staff

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4
Q

Why did the rules of conduct change?

A

Provide a more simple structure
Clear examples for each rule
Bigger focus on diversity, inclusion and respect
Understanding the evolving technology
Tackling global challenges

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5
Q

Can you name rule 1

A

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

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6
Q

Can you give examples to rule 1

A
  • Not to allow oneself to be influenced improperly by others (giving bribes, work referrals, gifts, payments).
  • Identify actual and potential conflicts of interest throughout professional assignment.
  • Open and transparent with clients about fees and services.
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7
Q

Can you give an example for rule 2

A
  • Only undertake work that they have the knowledge, skills and resources to carry out competently.
  • Supervise any employees undertaking work for them and ensure that these employees have the necessary knowledge, skills, and resources to do their tasks competently.
  • Stay up to date and comply with relevant legislation, codes of practice and other professional and relevant technical standards.
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8
Q

Can you give an example for rule 3

A
  • 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.
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9
Q

Can you give an example for rule 4

A
  • Members and firms respect the rights of others and treat others with courtesy.
  • Members and firms do not bully, victimise, or harass anyone.
  • Members and firms develop an inclusive culture in their workplaces, support equal access and opportunity for all, and identify and address unconscious bias.
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10
Q

Can you give an example for rule 5

A
  • Support directors, partners, employees, colleagues, or clients who have acted in good faith to report concerns.
  • Members and firms ensure that public statements made by the firm, or in which members are (or could be) identified as members of the profession, do not undermine public confidence in the profession.
  • Members and firms respond to complaints made against them promptly, openly, and professionally.
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11
Q

What is the reason we have rules of conduct?

A

Consistency of service and approach
Consistency of rules and regulation
Helps members act in a professional capacity
Public advantage and expectation

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12
Q

What are the principals of better regulation?

A

Proportionality
Accountability
Consistency
Targeting
Transparency

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13
Q

If you were to set up your own RICS firm, what are the requirments?

A

Let the RICS know about your firm by completing the RICS firm details form

Have adequate professional indemnity insurance for the work

Have a Clients money obligation

Complaints handling procedure

Staff Development and Training

CPD

Policies such as HS and equal opps

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14
Q

When is a firm required to register with the RICS

A

Firm provides surveying services to the public.

Firm is operating in Regulated Area A.

At least 50% of members are RICS members.

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15
Q

What do the governing council do?

A

They set the global strategy ensuring that the RICS fulfils it’s obligations

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16
Q

Who is the governing council made up of?

A

Presidential Team,
6 Strategy Seats,
15 Market Sets,

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17
Q

Who is made up of the presidential team?

A

RICS President – Ann Gray FRICS

RICS President-Elect – Tina Paillet FRICS

RICS Senior Vice President – Vacant

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18
Q

Who is the current CEO of the RICS

A

Justin Young

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19
Q

What are the rules for firms under the bribery and corruption mandatory professional statement?

A

Never offer or accept, directly or indirectly, anything that can be constituted as a bribe.

Have plans on how to comply with applicable laws and ensure they are followed.

Report breaches to the bribery and corruption MPS to relevant authorities

Retain information on how firm has met the professional mandatory statement

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20
Q

Under the bribery and corruption professional statement, what are the rules for members?

A

Never accept anything that can be constituted as a bribe

Ensure you have the correct knowledge of bribery and corruption

Report any activity you are aware of that breaches the PMS to the authorities and line manager

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21
Q

What is the bribery act?

A

Piece of primary legislation that modernises and strengthens the anti-bribery laws

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22
Q

What is a bribe?

A

Offering, accepting or promise of an advantage as an inducement for an action that is illegal, unethical or discourages trust

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23
Q

What are the two offences under the bribery act?

A

Active such as giving or passive which is agreeing to accept

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24
Q

What are the 6 principles of prevention under the bribery act?

A

Proportionate procedures
Monitor and review
Top Level Commitment
Risk Assessments
Due Diligence
Communication

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25
Q

What are the penalties under the bribery act?

A

Individual - 10 years, unlimited fine, disqualified from being a director

Firm - Unlimited fine, any financial gain returned, directors disqualified

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26
Q

What is a conflict of interest?

A

Anything that impedes or might be perceived to impedes a person or company ability to act impartially and provide advice fully in the best interests of the client

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27
Q

What is the Lord Birchard Review

A

Looked into the governance and purpose of the RICS after a review by Alison Levitt QC
Looked into clarity of the RICS
Make proposals for the RICS relating to best practice in governance, transparency and accountability
Ensure governance structure, culture and resources are fit for purpose

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28
Q

What are some of the key agreements under the Lord Bichard Review?

A

Increased focus on public interest remit of RICS
Maintaining self regulation, through greater independence
Increased focus on diversity and inclusion
A new simplified, clear, accountable governance structure
Showing greater leadership on the issues that matter most to society, such as sustainability and climate change

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29
Q

What is the Latham Report

A

Commissioned by the UK government to investigate inefficient, adversarial and fragmented industry

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30
Q

What are the CPD Requirements?

A

20 hours a year, 10 formal and 10 informal

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31
Q

What are the penalties for non compliance of this?

A

*First breach is a fixed penalty (caution).

*Second breach within 10 years is a caution and fine

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32
Q

Where are the RICS rules set out?

A

In the Rules of Conduct document which can be found on the RICS website

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33
Q

What is meant by the term Ethics

A

A set of moral principles

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34
Q

How is Ethics different to duty of care?

A

DoC is a legal duty you have to a person or company, whereas ethics is a set of moral principles

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35
Q

What is meant by Acting with Integrity

A

Being honest and open in everything you do, being trusthworthy and transparent

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36
Q

What are the mandatory rules for members

A

Comply with CPD requirements
Cooperate with RICS
Promptly provide all information to RICS

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37
Q

What are the mandatory rules for firms

A

Publish CHP
Cooperate with RICS
Promptly provide all information to RICS
Display on business literature that they are regulated by RICS
Work is covered by PI insurance

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38
Q

What the different levels of membership

A

Non chartered ASSOSRICS
Chartered Member - MRCIS
Fellow - FRICS
Honoury Member

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39
Q

Why do you want to join the RICS?

A

I appreciate the effort that the RICS put in to maintain high levels of service and I feel that it is an honour to represent them as they are well respected within the industry. It would be an accolade to the efforts that I have put in since starting my career.

40
Q

Can you name some of the Professional Group Boards?

A

There are 17 groups, including Quantity Surveying and Construction, Building Surveying, Dispute Resolution and Project Management

41
Q

What is the Royal Charter?

A

requires the RICS to promote the usefulness of the profession for the benefit of the public. It is made up of 10 bye-laws and 10 regulations

42
Q

How long do members need training for RICS ethics

A

3 years

43
Q

What information do RICS firms have to send?

A

Training policies, CHP, nature of clients,

44
Q

What is the structure of the RICS

A

Governing Council

RICS Board made up of Membership Service Commitee, Knowledge and Practice

Standards and Regulatoin Board - Dispute Resolution Appointment Board, Qualifications and Assessments Committees

Seperate to S&R Board you have Assigned Risk Pool Panel and Regulatory Tribunal

45
Q

What are the new RICS documents

A

Practice information and professional standards

46
Q

What guidance does rics provide on Bribery

A

Countering bribery and corruption, money laundering and terrorist financing 1st edition, February 2019

47
Q

What legislation is there around money laundering?

A

Money Laundering Act 2017
Proceeds of Crime Act 2002
Terrorism Act 2000
Bribery Act 2010

48
Q

What is some legislation around Modern Slavery?

A

Modern Slavery Act 2015

49
Q

What are you firms policy on gifts?

A

Gifts must not be given or taken as rewards, inducements or encouragement for dishonest conduct
Should be avoided at a time of tender or contract
Any gifts given or received must be put on the gift register

50
Q

What is money laundering?

A

Concealing of the proceeds of criminal activity to disguise their illegal origin

51
Q

If you witnessed money laundering on your project, who would you inform?

A

I would make it aware to my line manager and principle within the business, as well submitting a suspicious activity report to the national crime agency

52
Q

What is PI insurance - who does it protect?

A

Insurances a company against professional negligence from employers

53
Q

What are the different levels of PI required?

A

<100,000 turnover - £250,000
100,000 - 200,000 turnover - £500,000
200,001 > turnover- £1,000,000

54
Q

What happens if the lose you incur exceeds the cover from insurance

A

The professional / firm is liable through assests

55
Q

If a client notices your cost plan is wrong, can they claim damages

A

Client has to demonstrate you are acting without skill and care

56
Q

What are changed in terms of uninsured access

A

It is now up to 10 million is 10k or 2.5% of turnover, anything over that is unlimited

57
Q

What is run off cover

A

Protects a firm or person financially if a company is to stop trading and a claim is made against them

58
Q

What is informed consent?

A

Informed consent is consent given willingly by a party who is affected by a conflict of interest

59
Q

What is informed consent?

A

Ensure all parties are aware of what a conflict of interest is and the perceived risks are
Ensure the party affected has provided informed consent
Advice you can not continue to act on behalf of them unless informed consent has been given
If your request has been declined, again ask for confirmation in writing.

60
Q

What is an example of a conflict of interest?

A

RLB have both their PM team and CM team working under the same client fo the same project, a party conflict.

61
Q

How would you manage this conflict of interest?

A

Exclusivity of staff – no cross over of information
Separate lines of communication to the client
Separate data storage, separate offices, Chinese wall protocol

62
Q

What would you do if there was a conflict of interest, but the client was insistent that you proceeded?

A

I would check the client understood what a conflict of interest is
I would make them aware of the potential to act impartially.
Seek a letter of informed consent from the client.
I would finally talk through working procedures to manage the conflict of interest.

63
Q
A
63
Q

Can you tell me what was contained in your NDA?

A

I can’t go into detail about what was included within, but was drawings, specifications

64
Q
A
65
Q

What is the role of the RICS?

A

To advance the highest ethical and technical standards.
To protect clients and consumers by enforcing standards and code of best practice.
To provide expert impartial advice.

66
Q

What is your RICS membership number?

A

6827659

67
Q

Who is the president of the RICS?

A

Tina Paillet 2024

68
Q

Who is the president elect of the RICS?

A

Tina Paillet (April 2023)

69
Q

Who is the vice president of the RICS?

A

Vacant (April 2023)

70
Q

Who is the head of regulation in the RICS?

A

Dame Janet Paraskeva

71
Q

Who is the head of the privy council?

A

Lord President - Jacob Rees Mogg

72
Q

How many members of the RICS are there?

A

140,000 across 146 countries

73
Q

What is the RICS London HQ address?

A

12 Great George Street (Parilament Square)
Westminster
London
SW1P 3AD

74
Q

What does RICS stand for?

A

Royal Institution of Chartered Surveyors

75
Q

What is the meaning of the RICS Motto?

A

The motto is ‘Est Modus in Rebus’ which in Latin translates to ‘There is measure in all things’.

76
Q

What is Lionheart?

A

An independent charity run by RICS professionals, for RICS professionals.
Benevolent fund established over 100 years ago.
Services include a range from financial support, health and wellbeing packages, free professional counselling, work related support and legal advice.

77
Q

When was the RICS Founded?

A

1868

78
Q

What is the role of the Standards and Regulation Board?

A

It has exclusive responsibility for strategy, policy and operational oversight of the standards, entry and admission to the profession, as well as regulatory functions of the RICS.

79
Q

What is the RICS Matrics?

A

It supports new members entering the profession, as well as helping shape the future of surveying and grow the size and respect of the profession.

80
Q

How many RICS professional groups are there?

A

18

81
Q

What is the role of the Governing Council?

A

Set global strategy, ensure RICS fulfils its Royal Charter obligations and enforce professional standards.

82
Q

What is an RICS professional Statement (PS)?

A

Mandatory requirements for RICS members and regulated firms.

Sets out requirements and expectations for RICS Members and Firms

83
Q

What is an International Standard

A

High-level standard developed in collaboration with other relevant bodies - MANDATORY.

84
Q

What is the Assigned Risk Pool?

A

The ARP panel is a facility for trading member / firms who find themselves unable to obtain insurance in the open market.
It comprises a panel of a RICS chairman, members of the professional indemnity insurers and RICS members.
The initial period of cover is 12 months, to allow the firm time to return to the open PII market.

85
Q

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

A

Not every shortcoming will necessarily give rise to proceedings.
A formal investigation by the Head of Regulation of the RICS is the first step in the process.
The RICS can request information and/or visit and inspect to investigate compliance.
Members must cooperate fully with all enquiries.

86
Q

How can a disciplinary proceeding be triggered?

A

Someone complaining to the RICS.
An allegation by a client or third party.
Information received or established by the RICS.

87
Q

What three actions can be imposed after the end of the investigation
stage?

A

Fixed penalty.
Consent order.
Disciplinary panel.

88
Q

What are fixed penalties?

A

A fine by the RICS.

89
Q

What are consent orders?

A

It is a written agreement between the RICS and a member or firm concerning a disciplinary issue on a breach of the RICS rules.
It can require the member to take certain corrective actions, or restrain them from taking certain actions for a specified period of time and may require them to pay a fine or costs.

90
Q

What is the name of the RICS journals?

A

MODUS

91
Q

Are you aware of any RICS Regulation on the use of social media accounts?

A

Use of Social Media: Guidance for RICS members V1 - Effective 30th June 2021.

92
Q

A what point should you advise your PII of a claim being made against you?

A

When there is any situation that may give rise to a claim

93
Q

Under the ‘Countering Bribery and Corruption, Money Laundering and Terrorist Financing PS, what are the mandatory rules for firms in relation to Bribery and Corruption

A

not offer or accept, directly or indirectly, anything that could constitute a bribe

have plans in place to comply with applicable laws governing bribery and corruption,
and ensure that these are followed

report any activity they are aware of that breaches anti-bribery and corruption laws
to the relevant authorities (as specified in local legislation); where there is no local
legislation the activity should be recorded and, if possible, reported to a senior
manager

retain information detailing how the firm has met the requirements of this professional
statement.

94
Q

What is a responsible principal?

A

Someone who is appointed to take steps to ensure a company complies with regulatory and statutory obligations

Plans to ensure compliance with RICS standards

Information to the RICS is adequate and truthful

RICS APC (20 decks)

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