RICS Flashcards
What is the origin year of RICS?
RICS can be traced back to 1792 as the Surveyors Club.
When was RICS founded?
RICS was founded on 15th June 1868 as the Institution of Surveyors.
Who was the President when RICS was founded?
The President at the time was John Clutton.
Where are the RICS headquarters located?
Occupied offices are on the corner of 12 Great George Street (Parliament Square) and still are as till date as HQ’s.
When did RICS receive its Royal Charter?
RICS received its Royal Charter on 26 August 1881 as the Surveyors Institution.
What was the name change of RICS in 1930?
In 1930, it changed its name to Chartered Surveyors Institution.
What title did King George IV grant RICS in 1946?
In 1946, King George IV granted the title ‘Royal’.
What is the full name of RICS after 1947?
In 1947, the professional body became the Royal Institution of Chartered Surveyors.
How is RICS incorporated?
RICS is incorporated by the Royal Charter – issued by the Monarchy on advice of the privy council.
What are the objectives of RICS?
The objectives are to promote the usefulness of the profession for the advantage of the UK and in other parts of the world.
What governs RICS?
The institution is governed by its byelaws which allows for self-regulation.
What is required for changes to the byelaws?
Any changes to the byelaws need to be ratified through the Privy Council.
When did members vote for changes to the RICS charter and byelaws?
On November 2018, members voted in favour of a series of changes.
When was the ratification by the Privy Council for the changes?
Ratification by the Privy Council was on the 13th Day of March 2019.
What was updated in February 2020?
The changes to the RICS charter and byelaws were updated in February 2020.
What is the role of the Governing Council?
The Governing Council is the top decision-making body that sets strategic direction and monitors performance.
Who is the interim chair of the Governing Council?
The interim chair of the Governing Council is Chris Brooke FRICS.
Who was the RICS President in 2020?
The RICS President in 2020 was Kathleen Fontana.
What is the total number of seats in the Governing Council?
The total number of seats in the Governing Council is 25.
What is the vision of the Governing Council?
The vision is to create confidence in markets and effect positive change in the built and natural environments.
What does the Management Board do?
The Management Board advises on and implements strategy and prepares the business plan.
Who is the chair of the Management Board?
The chair of the Management Board is Paul Marcuse.
What are the long-term strategic goals of RICS?
The goals include being an influential thought leader, trusted by stakeholders, and ensuring RICS qualifications remain in demand.
What does the Standards and Regulation Board do?
The Standards and Regulation Board approves and sets regulatory policy and ensures a fair regulatory process.
What does the Audit Committee monitor?
The Audit Committee monitors the integrity and effectiveness of financial reporting and risk management.
What is the role of Matrics?
Matrics supports new members entering the profession and includes all student members.
What does Lion Heart provide?
Lion Heart offers confidential advice, information, and support to past/present members in difficulty.
What is the main role of RICS?
The main role is to advance the highest ethical and technical standards for professionals in land, property, and the built environment.
What is the significance of RICS credentials?
RICS credentials are well respected and provide a competitive advantage in the market.
