RICS Flashcards

1
Q

How do the RICS ensure that standards and quality are maintained in terms of both the conduct and advice provided by chartered surveyors?

A

RICS has rules of conduct for members and firms.

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2
Q

Why does RICS have rules of conduct?

A
  1. Consistency of service and approach, maintaining professional standards, governance and regulation. 2. Rules help members act professionally and deliver ethical services. 3. Rules promote the usefulness of the profession for public advantage. 4. Consistency among chartered professionals. 5. Public and RICS expect MRICS to provide appropriate advice.
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3
Q

What are the rules of conduct for members?

A
  1. Interpretation. 2. Communication. 3. Ethical behaviour. 4. Competence. 5. Service. 6. CPD. 7. Solvency. 8. Information to RICS. 9. Co-operation.
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4
Q

What are the rules for firms?

A
  1. Interpretation. 2. Communication. 3. Professional behaviour. 4. Competence. 5. Service. 6. Training and CPD. 7. Complaints handling. 8. Clients’ money. 9. Indemnity. 10. Advertising. 11. Solvency. 12. Arrangements for incapacity or death of a sole practitioner. 13. Use of designations. 14. Information to RICS. 15. Co-operation.
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5
Q

What should you do if you witness colleagues acting in a way that could bring the firm into disrepute?

A

Try to speak to your colleagues immediately and address their actions formally in work.

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6
Q

What are the types of RICS professional standards?

A
  1. Professional statements. 2. Guidance notes. 3. APC. 4. Data standards.
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7
Q

What are guidance notes and do you have to follow them?

A

Guidance notes outline best practice and provide advice on completing activities. They should be followed; members must stay updated to ensure competence.

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8
Q

What is the RICS ‘Black Book’?

A

The ‘Black Book’ is a suite of guidance notes that define good technical standards for quantity surveying and construction professionals.

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9
Q

What is the status of the professional statement?

A

It provides mandatory requirements for members or firms. Non-compliance can lead to a written warning or expulsion from RICS membership.

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10
Q

What are the 5 ethical standards?

A
  1. Honesty and integrity. 2. Maintain professional competence. 3. Provide good-quality service. 4. Treat others with respect. 5. Act in the public interest.
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11
Q

How do you act with integrity?

A
  1. Be trustworthy. 2. Be open and transparent. 3. Respect confidential information. 4. Avoid taking advantage. 5. Avoid bias and conflicts of interest. 6. Avoid gifts or hospitality suggesting obligation.
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12
Q

How do you take responsibility?

A
  1. Be accountable for actions. 2. Act with skill and diligence. 3. Ensure a complaints handling procedure is in place. 4. Challenge and raise concerns respectfully.
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13
Q

How do you treat others with respect?

A
  1. Treat everyone with courtesy and politeness. 2. Be considerate to clients and others. 3. Never discriminate.
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14
Q

How do you provide a high standard of service?

A
  1. Ensure clients receive the best advice. 2. Act within competence. 3. Be transparent about fees. 4. Communicate effectively.
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15
Q

How do you promote trust in the profession?

A
  1. Understand the impact of actions. 2. Fulfill obligations. 3. Meet the spirit of professional standards. 4. Act trustworthily in all aspects.
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16
Q

How can an individual maintain a high ethical standard?

A
  1. Review actions regularly. 2. Maintain relevant knowledge and training. 3. Keep up with CPD. 4. Follow professional advice on ethics. 5. Promote ethical practices in organizations. 6. Address unethical behavior.
17
Q

What should employers do to create an ethical environment?

A
  1. Establish confidential whistle-blowing procedures. 2. Include ethical evaluations in performance appraisals. 3. Incorporate ethical standards in hiring and training. 4. Ensure adequate planning and monitoring for changes. 5. Become chartered with RICS. 6. Promote CPD.
18
Q

Why is it important to act with integrity?

A
  1. Represents both self and profession positively. 2. Integrity is one of the 5 ethical standards.
19
Q

What is the difference between ethics and integrity?

A
  1. Ethics are moral principles governing behavior. 2. Integrity is the quality of being honest. 3. Ethics look at the big picture; integrity focuses on personal characteristics.
20
Q

What tools help members make ethical decisions?

A

Decision tree.

21
Q

What sort of decision would you consult the decision tree about?

A

It provides step-by-step advice for dealing with ethical issues.

22
Q

What are key areas where ethics are important?

A
  1. Gifts and bribes. 2. Equal opportunity and discrimination. 3. Conflicts of interest. 4. Insider dealing and financial transactions. 5. Whistle-blowing. 6. Copyright and ownership. 7. Advertising standards. 8. Environmental protection.
23
Q

What should you consider if you receive inside information about a competitor’s quote?

A
  1. Potential conflict of interest. 2. Not adhering to ethical standards by overpromising.
24
Q

What preconditions must a firm meet to be ‘Regulated by RICS’?

A
  1. Offer professional services in surveying. 2. Have at least 25% RICS qualified principals. 3. Comply with RICS Rules of Conduct for Firms.
25
Q

What must a firm do to comply after being registered for regulation?

A
  1. Comply with Rules of Conduct. 2. Follow obligations in RICS’ Royal Charter. 3. Inform the Head of Regulation of any findings against it. 4. Notify insolvency findings. 5. Report material changes within seven days.
26
Q

What is a locum?

A

A firm with a sole principal must have arrangements for death or incapacity, appointing another professional to stand in.

27
Q

What are the insurance requirements for RICS regulated firms?

A

Must have professional indemnity insurance meeting RICS minimums, plus public liability, buildings insurance, employers liability, directors and officers cover, contents insurance, and business interruption insurance.

28
Q

What does CPD stand for?

A

Continued Professional Development.

29
Q

What are the CPD requirements for chartered surveyors?

A
  1. Minimum of 20 hours each year. 2. At least 10 hours must be formal CPD. 3. Maintain understanding of RICS standards over three years.
30
Q

How is CPD recorded?

A
  1. Recorded on the RICS website or app. 2. Must be recorded by January 31st each year.
31
Q

How do you define formal and informal CPD?

A

Formal: Structured learning with clear objectives. Informal: Self-managed learning relevant to professional role.

32
Q

What tools help determine if CPD is formal or informal?

A

CPD decision tree.

33
Q

What professional development have you done during your training period?

A
  1. In-house training. 2. External training courses. 3. Personal reading. 4. Mock interviews. 5. Seminars and lectures.