RICS Core Material

Question 1

What is an RICS International standard?

Answer 1

High-level, principle-based mandatory standard developed in collaboration with other relevant organisations

e.g. RICS Valuation - Global Standards, 2019

Question 2

What is an RICS Practice Statement?

Answer 2

Document that provides members with mandatory requirements

Question 3

What is an RICS Guidance Note?

Answer 3

Document provided by RICS to promote good practice. RICS strongly recommend that you have regard to the contents of any relevant guidance note e.g. Comparable Evidence in Real Estate Valuation, 2019

Question 4

What is an RICS Code of Practice?

Answer 4

Document produced with other professional bodies and stakeholders to provide up-to-date research and advice to practitioners

Have the same status as a professional statement or a guidance note (mandatory or recommended good practice)

Question 5

What are the types of RICS Core Material?

Answer 5

• International standards (mandatory)
• Professional Statements (Mandatory)
• Practice statements (mandatory)
• Guidance notes (voluntary)
• Codes of practice (mandatory or recommended good practice)