Rics Questions

Question 1

What was the last thing you read in Modus?

Answer 1

Women on top: making surveying more female friendly.

It was about the only three RICS presidents talking about how the industry has become more inclusive over the course of their careers

Question 2

Tell me about the last CPD session you completed?

Answer 2

Rating surveyors association covered leading cases such as Woolway v Mazars.

And the purpose of rating valuation

Question 3

How can disciplinary procedure be triggered

Answer 3

By someone complaint to the Rics,

allegation by a client

information received by the Rics

Question 4

What are the three levels of disciplinary action

Answer 4

Action by head of regulation

Regulatory tribunal

Appeal panel

Question 5

What do you need to register as a regulated firm?

Answer 5

Business and stuffing details

Types of clients

Professional indemnity details

Complaint handling procedure and log

Confirmation of his clients money is held

Question 6

What would you consider if hospitality was offered

Answer 6

Proportionality, timing, reciprocation

Question 7

What are some of the principles of the bribery at 2010

Answer 7

Proportionality
Risk assessment
Top level commitment
Due diligence
Monitoring in review

Question 8

Name the four offenses under the bribery act

Answer 8

To take a bribe
To receive a bribe
To know about a bribe
To bribe forward official

Question 9

Who polices the bribery act

Answer 9

Serious fraud office and all national crime agency

Question 10

How would you undertake a money laundering check?

Answer 10

Check the clients background and details

Establish the company structure

Establish the source of wealth

Establish the source of funds

Record all information within the CRM system to show our compliance with regulations

Question 11

What are the global and professional ethical standards

Answer 11

Promote trust in the profession
Treat others with respect
Act with integrity
Deliver a high level of service
Take responsibility

Question 12

What is the RSS decision tree

Answer 12

Provides a framework that members can use if faced with a potentially unethical decision

Do you have all the information

Is it legal

Is it in line with the global professional and ethical standards

Question 13

What are the international ethical standards

Answer 13

Accountability, trust, confidentiality, conflict of interest, integrity, standard of service

Question 14

How are the new rules of conduct changing?

Answer 14

The changes will make the rules of conduct be more in line with global professional and ethical standards.

Guided by three principles
Clarity
Effectiveness
Brevity

Question 15

What are the five new rules

Answer 15

Honesty and integrity
Maintaining competence
Quality service, Care and diligence
Respect
Public interest

Question 16

What professional obligations must members undertake?

Answer 16

Comply with CPD requirements
Cooperate with the RICS
Provide information to the RICS

Question 17

Professional obligations for firms what are they?

Answer 17

Publish a complaint handling procedure

Professional indemnity

A sole principal must make appropriate arrangements for the professional work to continue in the event of the death

Cooperate with the RICS

Display The RICS designation on all business literature

Question 18

What is the RICS valuer registration scheme?

Answer 18

A regulatory monitoring scheme to all Valley was carrying out Redbook global valuations

Question 19

What are three aims of the scheme

Answer 19

To improve the quality of valuation and ensure the highest possible professional standards

To meet RICS requirements to self regulate effectively

To protect and raise the status of the valuation profession.

Question 20

How do you register to be a RICS valuer?

Answer 20

Provide the following

Type of valuations

Number of valuations

Purpose of valuations

What data sources used

History of any negligence claims

Question 21

Who has the power to remove a registered valuers status

Answer 21

The head of regulation

Question 22

What scheme does the RICS run in relation to clients money

Answer 22

Clients money protection scheme

Question 23

How do you close down a practice?

Answer 23

Inform the RICS

Inform your clients

Arrange run off cover for a minimum of six years

Return any client money

Retain a copy of client files and records for a minimum of six years

Question 24

What are the professional indemnity limits

Answer 24

250,000 pounds for under 100,000 turnover

500,000 pounds for 100 to 250,000 pounds turnover

1 million for over 250 pounds turnover

Estimate if it is a new business

Question 25

What are the Maximum excess limits

Answer 25

For under 500,000 it is 2.5% or 10,000 pounds

For over 500,000 turnover it is 2.5%

Question 26

Why would you decline and instruction

Answer 26

Conflict

Competence

Pii limit

Timescales

Do not have all the facts

Question 27

What penalties can the disciplinary panel issue

Answer 27

A compliance order

CPD sanction

Fine

Expulsion from membership

Question 28

What are the benefits of regulation

Answer 28

Confidence

Professionalism

Security

Question 29

But should a company do to ensure compliance with money laundering regulations?

Answer 29

Undertake a money laundering risk assessment

Implement systems and policies to address money laundering risks

Provide staff training

Comply with new customer due diligence and enhance do diligence checks