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APC > Rules of Conduct > Flashcards

Rules of Conduct Flashcards

1
Q
  1. What steps would you need to take when setting up a Practice?
A

a. Inform RICS
b. Appoint a Contact Officer
c. Register with RICS for Regulation
d. Professional Indemnity Insurance
e. Client Account for Handling Client Money
f. Complaints handling procedure
g. Staff training and CPD

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2
Q
  1. What steps do you need to take to close a firm?
A

a. Inform RICS
b. Inform clients and hand over arrangements made to the new firm.
c. Return any client monies to their own accounts
d. Inform insurers and procure professional indemnity run off cover for a minimum of 6 years and £250,000 cover. Claims can arise for up to 15 years.

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3
Q
  1. What are your obligations to maintain your RICS accreditation once qualified?
A

a. Record 20 hours of CPD each calendar year 10 of which must be formal
b. Relevant and current understanding of rules of conduct during a rolling 3 years period. Online certificate lasts 3 years
c. Record CPD hours by 31st January each year
d. Pay fees

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4
Q

Would you accept a Gift or offer of Hospitality from someone in a work capacity?

A

a. Gifts, hospitality and promotional activity is generally acceptable and considered a part of doing business.
b. It must be reasonable, proportionate and offered openly and transparently
c. Includes modest and occasional meals, sport and cultural events.
d. The firm must keep records of such hospitality.
e. Bribery Act 2010 defines acceptable gifts and hospitality.

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5
Q
  1. What steps must you take for the handling of client’s money?
A

a. Client must always have access to funds
b. Client money must be kept separate and clearly identifiable
c. Include ‘Client’ in the account name
d. Interest on the account must be agreed with the client
e. Maintain client ledger or running balance of any transactions
f. Agree the terms and advise client on bank details
g. Client account must not be overdrawn

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6
Q
  1. What are the RICS 5 principles of better regulation?
A

a. Remember PACTT
b. Proportionality
c. Accountability
d. Consistency
e. Targeting
f. Transparency

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7
Q
  1. Why does the RICS have Rules of Conduct?
A

a. To provide a framework that we can all work to and so the client knows they are getting a consistent level of service.
b. As well as being an important tool for the institution, the Rules of Conduct are also a useful professional guide for individual Institution members.

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8
Q
  1. When were the updated Rules of Conduct implemented?
A

a. 2nd February 2022

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9
Q
  1. Why were the Rules of Conduct revised?
A

a. To make them simpler for professionals and the public by building the rules on ethical principles and combining the requirements for members and firms.
b. They are based on feedback from members, professionals and stakeholders about what is important to them.

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10
Q
  1. What documents did the new Rules of Conduct replace?
A

a. Rules of Conduct for members, Rules of Conduct for firms and Global Ethical Principles

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11
Q
  1. What are the main changes to the new Rules of Conduct?
A

a. Change of wording of individual behaviours
b. Addition of encouragement of diversity and inclusion to Rule 4

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12
Q
  1. How many Rules of Conduct for Members and Firms are there?
A

5

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13
Q
  1. What are the behaviours in relation to the rules of conduct and why are they in place?
A

a. These are not rules but act as guidelines for best practice for firms and members

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14
Q
  1. What are the 5 Rules of Conduct?
A

a. Members and firms must be honest, act with integrity and comply with their professional obligations, including obligations to RICS.
b. Members and firms must maintain their professional competence and ensure that services are provided by competent individuals who have the necessary expertise
c. Members and firms must provide good-quality and diligent service
d. Members and firms must treat others with respect and encourage diversity and inclusion
e. Members and firms must act in the public interest, take responsibility for their actions and act to prevent harm and maintain public confidence in the profession

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15
Q
  1. Which two of the five Global Professional & Ethical Standards resonate with you the most?
A

a. Good quality service – I take great pride in my work and believe a high standard of work reflects well on the firm and myself. Our clients pay large sums of money for our service and I believe they deserve a quality product.
b. Respect – I believe in treating everyone fairly and with respect. As surveyors we enter peoples homes which is their private space and I always ensure I’m conscious of that and try to cater for various peoples needs i.e taking shoes off at the door or carefully entering religious spaces etc.

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16
Q
  1. Where can you find the professional obligations for members and firms?
A

a. Appendix A of the Rules of Conduct

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17
Q
  1. What are the 3 professional obligations for members when they join the RICS?
A

a. Comply with the CPD requirements for RICS members
b. Cooperate with the RICS
c. Promptly provide all information reasonably requested by the Standards and Regulations Board, or those exercising delegated authority on its behalf

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18
Q
  1. What are the 7 professional obligations for firms when they join the RICS?
A

a. Publish a complaints-handling procedure and maintain a complaints log.
b. Have appropriate professional indemnity cover that meets the standards approved by the RICS
c. Firms with a sole principal must make appropriate arrangements for their professional work to continue in the event of their incapacity, death, absence from or liability to work.
d. Cooperate with the RICS
e. Promptly provide all information reasonably requested by the Standards and Regulation Board, or those exercising delegated authority on its behalf.
f. Firms must display on their business literature a designation to denote that they are regulated by the RICS,
g. Firms must report to the RICS any matter that they are required to report under the Rules for the Registration of Firms.

19
Q
  1. What sort of information do registered firms have to send to the RICS annually?
A

a. Annual return – Failure to do so leads to a fixed penalty
b. Type of business and staffing
c. Nature of clients
d. Training and provision
e. Complaints handling procedures details and records
f. PI insurance details
g. Whether the firm holds client’s money

20
Q
  1. What must a complaints handling procedure include?
A

a. The RICS provides a model form that can be used as a template for all regulated firms
b. Must include a redress (set right) mechanism
c. Details should be issued to the client with the Terms of Business
d. It must be clear, quick, transparent and impartial and free of charge
e. Names and contact details of the nominated investigating person must be stated
f. The complaint must be investigated within 28 days
g. All complaints, their progress and outcomes must be recorded
h. Note the need to advise PI insurers of a complaint
i. Must have two stages as a minimum
i. Consideration of the complaint by a senior member of the firm
ii. If not resolved, refer to an independent third party with authority to award redress.

21
Q
  1. What is your company’s complaints handling procedure?
A

a. 3 stage process
b. Stage 1 - Complaint comes in to the relevant office. Office acknowledges the complain within 7 days and provides a response within 28 days.
c. Stage 2 – If unresolved; complaint to be made in writing to Calum Campbell, Kevin Murchie or Les McAndrew. Complaint will be acknowledged within 7 days and responded to within 28 days.
d. Stage 3 – If unresolved; complaint taken to an independent redress provider, as approved by the RICS regulatory board.

22
Q
  1. What redress providers does G&S use?
A

a. Consumer Clients
Centre for Effective Dispute Resolution (CEDR)
The Property Redress Scheme
b. Business-to-business clients
RICS Dispute Resolution Services

23
Q
  1. Assuming you were successful in getting chartered, how would you deal with a situation such as a friend who asks you to provide them with valuation advice?
A

a. I could not offer advice on my own without PI insurance
b. If I did have my own PI insurance I would ensure that the information given was subject to the thorough checking process given to all information prior to issue regardless of who it was to.
c. Inform them they can contact you during working hours to discuss T&Cs if appointed
d. If you are not comfortable acting for them, advise them to use the RICS “find a surveyor scheme”
e. Adhere to rules of conduct

24
Q
  1. If you put together a fee proposal, but a couple of months into the job you realise that you have under forecasted your resources, would you go back to the client and ask for more money?
A

a. If the project requirements have increased (scope, services, value etc) then there is an argument that you can go back to the client for more fees
b. If everything has remained the same, it is a mistake so deal with it and get it right next time
c. Do not reduce the level of service you offered originally

25
Q
  1. Your brother in law is a chartered surveyor. You find out that he is working outside the RICS, what do you do?
A

a. Verify the facts and confront him reminding him of his duties as a member of the RICS
b. Inform the RICS specifying my relationship to the person and any corrective action which you believe your brother-in-law is committed to put in place.

26
Q
  1. What are the minimum levels of indemnity and how do you determine the level of PI cover?
A

a. This depends on the firm’s turnover
b. If turnover is £100k or less it is £250k
c. If turnover is £100k - £200k it is £500k
d. If turnover is above £200k it is £1m

27
Q
  1. What are the maximum levels of uninsured excess?
A

a. Depends on the level of indemnity
b. Up to £500k = greater of 2.5% of insured sum or £10,000
c. Over £500K = 2.5% of the insured sum

28
Q
  1. What types of insurance do chartered surveyors need to have?
A

a. Professional indemnity
b. Buildings insurance
c. Contents insurance
d. Employers liability insurance

29
Q
  1. What are the 6 main principles of the Bribery Act 2010?
A

Remember: PTRDCM (Peter Dickham)

  • Proportionate procedures
  • Top level commitment
  • Risk assessments
  • Due diligence
  • Communication
  • Monitoring and review
30
Q
  1. Under the bribery act under what circumstances is a facilitation payment (bribe) permitted?
A

a. The ONLY circumstance in which it is okay to make a facilitation payment is if there is real and present risk or danger to “life, limb or liberty”

31
Q
  1. What is the Limit of Liability?
A

a. Limit of liability places a cap on the level of exposure a business signs up to

32
Q
  1. What was the Carsberg Report 2005?
A

a. This was a thorough internal and external review of the regulation of RICS
b. A response to members general dissatisfaction with aspects of RICS regulation

33
Q

What were some of the key recommendations of the Carsberg Report 2005?

A

a. A conduct board should be established to operate the disciplinary structures
b. The RICS should regulate firms as well as members
c. A review of existing CPD requirements and compliance should be initiated

34
Q
  1. What is the purpose of the 5 Principles of Regulation?
A

a. The RICS is a self-regulated professional body that has a duty to the public interest
b. The 5 principles of better regulation set out how the RICS regulates itself internally to maintain the highest standards of professionalism and integrity in the benefit of the public interest.

35
Q
  1. Pick two of the 5 principles of better regulation and explain what they mean to you.
A

a. Proportionality – RICS should only intervene when necessary and any remedies imposed should be proportionate.
b. Accountability – Regulators must be able to justify their actions under public scrutiny.
c. Consistency – The RICS should treat everybody the same.
d. Targeting - The RICS should focus on solving problems efficiently and remain unambiguous for regulations that are introduced.
e. Transparency – Keep regulations simple and user friendly and communicate them effectively.

36
Q
  1. Name some topics on which the RICS publishes help sheets and policy documents
A

a. CPD
b. Handling clients money
c. PI insurance requirements
d. Complaints handling procedures
e. Maintaining professional and ethical standards
f. Procurement and tendering

37
Q
  1. What is the ‘Clients’ Money Protection Scheme?
A

a. Run by the RICS
b. Set up to reimburse members of the public for any direct loss of funds
c. Provided through the RICS insurance policy

38
Q
  1. What is GDPR?
A

a. The EU General Data Protection Regulation (GDPR) replaces the Data Protection Directive 95/46/EC and was designed to harmonize data privacy laws across Europe.
b. Designed to protect personally identifiable information

39
Q
  1. How does GDPR affect surveying practices?
A

a. GDPR requires proper handling of personal information for staff and clients including:
i. Data in the valuation systems
ii. Data in compliance systems i.e accounts, bookeping, payroll etc
iii. HR data i.e employee passports, addresses etc
iv. Emails, correspondence, both internal and external

40
Q
  1. How do surveying firms comply with GDPR?
A

a. Firms must know what data is being stored and where i.e Survey sites notes in the lockable filing cabinets
b. Firms must be able to demonstrate that they are managing personal data in a compliant manners i.e kept secure and only viewed by relevant people
c. Must be able to supply details of the data and how it is being used and held on request.
d. You have to be able to delete every instance of an individuals data in compliance with the right to be forgotten (Individuals have the civil right to request that personal information be removed from the internet), also known as the “Right to Erasure”.

41
Q

What is meant by an Alternative Dispute Resolution and what is an example of an ADR?

A

a. A dispute which is resolved without going to court
b. Mediation and Arbitration are examples of ADR

42
Q

What are the 7 general principles outlined in the GDPR?

A

Think: DALAFIP

Data Minimisation
Accuracy
Lawfulness
Accountability
Fairness
Integrity
Purpose Limitation

43
Q

What offences are outlined in the Bribery Act 2010?

A
  • Making a bribe
  • Receiving a bribe
  • Bribing a foreign public official
44
Q

For serious breaches of the GDPR, what fine can be charged?

A

£17.5 million or 4% of annual turnover

APC (22 decks)

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