RICS Top Topic

Question 1

What are the new PII requirements for 2022?

Answer 1

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

Question 2

What is the RICS Futures report?

Answer 2

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

Question 3

What is the Levitt report?

Answer 3

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

Question 4

What are some of the aims highlighted in the business plan?

Answer 4

Incorporating Levitt recommendations
- be more open and transparent with members and the public

Continue to support the profession as economies recover from covid etc

Question 5

Who is the president elect?

Answer 5

Tina Paillet

Question 6

Who is the president and when did she strat?

Answer 6

Ann Gray - Jan 2023

Question 7

Why did the Rules of Conduct chnage?T

Answer 7

The other ones had been in situ for a long duration and it was to enable greater clarity for RICS members and firms

Question 8

What document is the new rules of conduct in ?

Answer 8

Rules of Conduct October 2023 Global Practise Statement

Question 9

Where can you find the professional obligations for members and firms?

Answer 9

Rules of Conduct 2021 - back page

Question 10

Explain Rule 1?

Answer 10

Members an firms should not allow themselves to be influenced impropertl
Should ensure to identify COI

Question 11

Explain Rule 2?

Answer 11

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

Question 12

Explain Rule 3?

Answer 12

M and f must be sure to understand clients specific requirements before acting on their behalf include timescales and objectives

Question 13

Explain Rule 4

Question 14

Explain Rule 5?

Answer 14

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?

Question 15

Obligations of members?

Answer 15

CPD
Cooperate with RICS
Provide all information when reasonably requested to standard and regulation board

Question 16

Obligations of firms?

Answer 16

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

Question 17

What is the affect of the mini budget?

Answer 17

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

Question 18

Affect of Ukraine?

Answer 18

Increase in energy prices which has an effect on tenants and landlords

Delay and disruption of the supply chain

Question 19

What is COP?

Answer 19

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.

Question 20

Explain Cop27?

Answer 20

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

Question 21

What’s a green mortgage?

Answer 21

Rewards someone buying or owning an energy efficient home by offering favourable standards

Question 22

What’s embodied carbon?

Answer 22

Carbon emissions generated as a result of energy consumption and chemical processing

Question 23

Any RICS guidance on covering the use of drones?

Answer 23

Drones: application and compliance for surveyors

Advice on different drone types and how can be applied in the industry.

Question 24

What is inclusive design?

Answer 24

Aims to ensure that the differences in the way people use the built natural and environment can be accommodated.