RICS Flashcards
What is the Royal Charter?
- Awarded in 1881 by Queen Victoria to “maintain and promote the usefulness of the profession for the public advantage
- The Charter means that important changes to the constitution - its byelaws - must be ratified by the UK Government, through the Privy Council
Where are the RICS International Headquarters?
12 Great George Street, Parliament Square, London
What is the motto of the RICS?
“Est Modus in Rebus” - there is measure in all things
What is the RICS?
- Royal Institute of Chartered Surveyors
- The worlds leading professional status in land, real estate, infrastructure and construction
- One of the most respected and high-profile international institutions that offers advice on property, construction, project management, dispute resolution and environmental issues to various clients and the public
What is the role of the RICS?
Four main roles;
1. Regulate and promote the profession
- Maintain the highest educational and professional standards
- Protect clients and consumers though a strict code of ethics and professional standards
- Provide impartial advice, analysis and guidance
What is Lionheart?
Charity which is independent to the RICS, run by RICS Members to provide support and advice to current and past members
What was the Carsberg Report 2005?
Thorough internal and external review of the regulation of RICS
What are the 5 RICS principles of better regulation?
- Accountability
- Consistency
- Proportionality
- Targeting
- Transparency
What are the benefits for RICS membership / Why do you want to be an MRICS?
- Global recognition and be part of an international community offering invaluable networking opportunity and guidance
- Elite professional status
- Technical resources to support my profession
- Benefit to our clients
Who is the Privy Council?
The Privy Council grants and awards the Royal Charter
Can you give me an overview of the RICS Governance structure?
- Privy Council
- Governing Council
- Regulatory Tribunal
- Standard and Regulation Board
- Management Board
- Audit, Risk Assurance and Finance Committee
- Nominations and Remuneration Committee
Can you give me an overview of the RICS Governance structure?
- Privy Council
- Governing Council
- Regulatory Tribunal
- Standard and Regulation Board
- Management Board
- Audit, Risk Assurance and Finance Committee
- Nominations and Remuneration Committee
- Words Regional Board and Market Advisory Panels
Who is the Governing Council?
The governing council set strategy, direction and manages the Royal Charter obligations
What is a Bye-law?
Allows the RICS to self-regulate
What is the RICS Matrics?
RICS Matrics aims to help those who have just joined the profession by providing a network for those to connect between providing training opportunities to students, trainees and those newly qualified
