RICS Top Topic Flashcards
What are the new PII requirements for 2022?
New requirements introduced change to the maximum uninsured excess of PII
Means for larger companies with turnover of over £10m there is no maximum limit of uninsured excess
What is the RICS Futures report?
in 2015 the report was launched to highlight:
- urbanisation
- the disruption of big data
- climate crisis
1) rapid urbanisation resulting in pollution, congestion and expensive locations
2) Rapid increase in the use of drones within the issue
What is the Levitt report?
Commissioned by the RICS following a Treasury management audit
The report found an internal power struggle due to its two board structure.
Recommendations:
Greater transparency
What are some of the aims highlighted in the business plan?
Incorporating Levitt recommendations
- be more open and transparent with members and the public
Continue to support the profession as economies recover from covid etc
Who is the president elect?
Tina Paillet
Who is the president and when did she strat?
Ann Gray - Jan 2023
Why did the Rules of Conduct chnage?T
The other ones had been in situ for a long duration and it was to enable greater clarity for RICS members and firms
What document is the new rules of conduct in ?
Rules of Conduct October 2023 Global Practise Statement
Where can you find the professional obligations for members and firms?
Rules of Conduct 2021 - back page
Explain Rule 1?
Members an firms should not allow themselves to be influenced impropertl
Should ensure to identify COI
Explain Rule 2?
Mand F must only act for clients where they have appropriate knowledge
Firms must supervise any employees or subcontractors caarrying out work on their behalf
Explain Rule 3?
M and f must be sure to understand clients specific requirements before acting on their behalf include timescales and objectives
Explain Rule 4
Explain Rule 5?
Question practices and decisions that they suspect are not right and raise concerns
Deal with complaints
Would you be comfortable if your actions were published to the media?
Obligations of members?
CPD
Cooperate with RICS
Provide all information when reasonably requested to standard and regulation board
Obligations of firms?
Cooperate with RICS
Provide all information when reasonably requested to standard and regulation board
Publish complaints handling procedure and include ADR approved by RICS
ensure current and previous professional work is covered by PII
Must make appropriate arrangements if sole practioner
What is the affect of the mini budget?
Rising inflation rates have cuased banks to increase base rates- caused large increase in borrowing costs
Financial viability of new development and maintenance programmes may no longer stack up to borrowing, energy, and build costs
Affect of Ukraine?
Increase in energy prices which has an effect on tenants and landlords
Delay and disruption of the supply chain
What is COP?
Conference of Parties - the summit was attended by counties that signed the UNFCCC
Conference take place yearly where leaders discuss profess on agreements and place future initaives.
Explain Cop27?
Took place in Egypt
Highlighted countries mostly affected by loss and damage of extreme het
Key targets included reducing the global temperature to 1.5 degrees above pre industrial levels
What’s a green mortgage?
Rewards someone buying or owning an energy efficient home by offering favourable standards
What’s embodied carbon?
Carbon emissions generated as a result of energy consumption and chemical processing
Any RICS guidance on covering the use of drones?
Drones: application and compliance for surveyors
Advice on different drone types and how can be applied in the industry.
What is inclusive design?
Aims to ensure that the differences in the way people use the built natural and environment can be accommodated.
