RICS in General

Question 1

Who is the current RICS President (2024)

Answer 1

Tina Paillet FRICS

Question 2

Who is the President Elect for 2025?

Answer 2

Justin Sullivan FRICS

Question 3

How is the Presidential Panel elected?

Answer 3

By the governing council, the Vice president moves onto president elect and then onto president.

Question 4

What is the RICS motto?

Answer 4

Est modus in rebus ‘There is measure in all things’

Question 5

What is the vision of the RICS?

Answer 5

Vision for a natural and built environment that is sustainable, resilient, and inclusive for all

Question 6

What is the purpose of the RICS?

Answer 6

Regulate and uphold standards.
Promote the industry
Protect RICS businesses and its members.
Provide guidance and advice.

Question 7

What types of documents the RICS issue and which are mandatory?

Answer 7

• Professional Standards: Conflict of Interest professional statement in relation to commercial property, you must accept written confirmation (informed consent) if there is any conflict of interest.
• Practice information: Retention guidance issued provided information on how different contracts deal with retention. Cost Reporting guidance, highlights reporting frequency and how to report variations.

Question 8

How does the RICS communicate with its members?

Answer 8

• News and insights: through the website or MODUS magazine.
• Upholding professional standards: issues statements, professional standards, practice information.
• Training events
• Products and services: these include BCIS, ISRUV, research, dispute resolution, surveys and research.

Question 9

What is the role of professional groups?

Answer 9

3 clear things that they do: provide practical guidance, training and undertake research support for professionals.

Question 10

How many professional groups are there and how can you join?

Answer 10

• 17 groups
• You must past the professional assessment or if it a working group than you must have a particular skill set of area of expertise that will be of use. For example if I gain my chartership I will be a member of the Quantity Surveying and Construction professional group, I could also join the commercial property and dispute resolution if I had particular expertise in that sector.
• You can only join a maximum of 3.

Question 11

Can you name 5 of the professional groups?

Answer 11

• Building surveying
• Project management
• Facilities management
• Dispute resolution
• Planning and development
• Residential property
• Commercial property

Question 12

Can you name 3 professional standards that have been issued by the RICS?

Answer 12

1. Rules of Conduct
2. Conflicts of Interest
3. Bribery, Corruption, Money Laundering and Terrorist Financing

Question 13

What is RICS Lion Heart?

Answer 13

• RICS Lion Heart is a charity set up by RICS members for RICS members
• They assist in being a sounding board, provide legal advice and provide finances during difficult times
• They are solely funded by RICS members and do not receive government grants or funding
• RICS professionals have the opportunity to donate to lionheart when they renew their professional fee’s

Question 14

How many levels of the RICS membership are there

Answer 14

4
- training/student
- AssocRICS
- MRICS
- FRICS

Question 15

What is the RICS matrics?

Answer 15

• Future of the profession, made up generally of unchartered members.
• Socials for potential members.
• Also conduct CPD session.
• RICS matrix for every city and nationally.
• Aimed at young surveyors with less than five years experience.

Question 16

Can you describe the RICS logo?

Answer 16

• White lion with a crown and its tongue stuck out, on a purple background.

Question 17

What is the RICS address

Answer 17

• 12 Great George, Parliament Sq, London

Question 18

What does the RICS stand for?

Answer 18

Royal Institution of Chartered Surveyors

Question 19

What is the purpose of practice information?

Answer 19

Intended to promote best practice throughout the profession and ‘High Standard of Service’.

Question 20

Why do you want to be a chartered surveyor?

Answer 20

1) RICS is the largest international propert institution in the world. By joining I will get global recognition and will become part of an international professional community.
2) I will get elite professional status, guidance, information and support
3) I will be part of promoting best practice in the profession

Question 21

What is the role of the standards and regulation board?

Answer 21

They have exclusive responsibility for exercising RICS’ regulatory functions, including strategy, governance, structure, policy and operational oversight in the public interest.

Has oversight of professional standards, entry and admission into the profession, education and qualification standards, regulatory operations, dispute resolution services and the regulatory tribunal.

The board is independently led and comprises of non members and members of the RICS, which reports to the Governing Council.

Question 22

Can you explain your understanding of why the Levitt Review was commissioned?

Answer 22

Alison Levitt QC was commissioned to conduct an independent review into historic treasury management and subsequent actions at RICS.

Question 23

What were the key objectives of the Levitt Review?

Answer 23

1) Consider the way in which the internal report was commissioned, dealt with and to determine whether there were any shortcomings.
2) Consider whether any shortcomings represented a failure of governance.
3) Make recommendations for the future.

Question 24

What were the key conclusions of the Levitt Review?

Answer 24

1) Sound governance principles were not followed by the RICS.
2) Found tat the non executive board members’ concerns were legitimate and that they were wrongly dismissed from their roles.
3) A lack of clarity around the roles and responsibilities of the various RICS boards, senior leadership and management

Question 25

When was the RICS founded

Answer 25

1868

Question 26

When did the RICS receive royal charter

Answer 26

1881 by Queen Victoria

Question 27

What does the royal charter require

Answer 27

Requires RICS to promote the usefulness of the profession for the advantage of the UK public and in other parts of the world.

Question 28

What is the Bichard review and why was it comissioned?

Answer 28

It was commissioned by the governing council in Dec 2021, following a recommendation in the Levitt Review that a “wide ranging examination of purpose, governance and strategy” should be conducted by an external reviewer

Question 29

What was Lord Bichards remit?

Answer 29

The review aimed to clarify the purpose of the RICS, make proposals on its governing structure and make proposals for the incoming leadership and governing body on the future culture and strategy of the institution

Question 30

What were some of the key recommendations from the Bichard review?

Answer 30

1) Renewed and increased focus on the public interest remit of RICS, including amending the Royal Charter and creating a public interest panel to advise the governing council.
2) Maintaining self regulation, through greater independence of regulatory functions.
3) Increased focus on diversity and inclusion across the profession and within RICS governance.
4) A new simplified, clear and accountable governance structure.