Lesson 1

Question 1

What are the 5 rules of conduct?

Answer 1

HONESTY Rule 1 - members and firms must be honest, act with integrity and comply with professional obligations including obligations to the RICS
COMPETENCY Rule 2 - members and firms must maintain professional competence and ensure that services are delivered by competent individual who have the necessary expertise
GOOD QUALITY Rule 3 - members and firms must provide good quality and diligent service
RESPECT Rule 4 - members and firms must treat other with respect and encourage diversity and inclusion
PUBLIC INTEREST Rule 5 - members 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
Honest, Competency, Good quality, Respect, Pubic interest

Question 2

What is the Bribery Act?

Answer 2

• UK Legislation - came into force 2011
• Concerning Bribery
• 4 types of bribe: Accepting, offering, bribing a foreign official, failure of a corporate entity to prevent bribery

Question 3

What is a bribe?

Answer 3

Giving someone a financial or other advantage to influence the way that another person acts

Question 4

What are the approaches to minimise bribery?

Answer 4

• Proportionate Procedures
• Top Level commitment
• Risk Assessments
• Due Diligence
• Communication
• Monitoring & Review

Question 5

Who is the president of the RICS?

Answer 5

Anne Gray

Question 6

When was the RICS founded?

Answer 6

1968

Question 7

What is the RICS Moto

Answer 7

Es modus in rebus - measure in all things

Question 8

What is the RICS mission statement?

Answer 8

• Qualify & equip members to the highest standard of service
• Promote & enforce standards
• Lead solutions to major challenges facing the built environment

Question 9

What is the Allison Levitt Report?

Answer 9

There were claims than an audit within the RICS had been suppressed
4 members of the non-exec board were dismissed - the report found the concerns were legitimate and they were wrongly dismissed
The RICS requested an external review into the events with was published in the Alison Levit review alongside 18 recommendations
These included: public apologies, review of rewards & bonus structure, whistle blowin & to commision independent review of governance

Question 10

What are the 5 principals of better regulation?

Answer 10

PACTT
Proportionality
Accountability
Consistency
Targeting
Transparency

Question 11

When did the new rules of conduct become effective?

Answer 11

2nd Feb 2022
The old rules have been consolidated within the new rules of conduct

Question 12

What were the old rules called?

Answer 12

Global Professional and Ethical Standards

Question 13

Why did the previous Rules of Conduct change?

Answer 13

Previous Rules had been in place since 2007 - outdated
Majority voted in favour of replacing RoC and Separate Global Professional and Ethical Standards
Single document = clarity
Greater focus on example behaviours

Question 14

What are the changes between the previous rules of conduct?

Answer 14

Instead of 3 separate documents the new Rules of Conduct will replace them with 1:
- Rules of conduct for members - now in App A of RoC
- Rules of conduct for firms - now in App A of RoC
- Global Ethical & Professional standards

Question 15

Can you give me an example of when you have been adhering to rule 1?

Answer 15

• Members and firms do not mislead others by their actions or omissions, or by being complicit in the actions or omissions of others