Rules of Conduct

Question 1

What are the rules for members?

Answer 1

1. Interpretation of a member
2. Communication
3. Ethical
4. Competence
5. Service
6. CPD
7. Solvency
8. Information to the RICS
9. Cooperation

Question 2

What are the rules for firms?

Answer 2

1. Definition of a firm
2. Communication
3. Professional behaviour
4. Competence
5. Service
6. CPD
7. Complaints handling procedure
8. Clients money
9. PII
10. Adverstising (truthful)
11. Maintain solvency
12. Death in service
13. Use of designations
14. Information to the RICS
15. Cooperation

Question 3

How do you demonstrate rule 4 (competence)?

Answer 3

Undertake instructions within my scope of competence and follow the RICS Professional Statements.

Question 4

What are the PII rules?

Answer 4

Linked to turnover

Up to £100k - £250k PII
£100,001k - £200,000k - £500k PII
£200k + - £1m PII

Question 5

What PII does your employer carry?

Answer 5

PII up to £5m

Question 6

What is the purpose of PII?

Answer 6

Primarily to protect clients from financial loss as a result of negligence.

Question 7

How many hours CPD are you required to do?

Answer 7

20 hours per year (10 formal, 10 informal)

Question 8

How often should you do ethics training?

Answer 8

Every 3 years

Question 9

What is the difference between formal and informal CPD?

Answer 9

Formal CPD has a defined learning outcome.

Question 10

What must you do for Client’s money under rule 8?

Answer 10

1. Separate named account

2. Must be able to identify client

Question 11

Can you allow a clients account to be overdrawn?

Answer 11

No

Question 12

What is the specification for use of the RICS Logo?

Answer 12

Must be of the size and colour in the RICS Logo and Designations by RICS Qualified Professionals Guidelines.

Question 13

Tell me about a time where you refused to step outside your scope of competence?

Answer 13

I was asked to produce an Auto Cad plan which was something I did not have experience of (other than at uni), therefore I requested training and asked a colleague to assist me on my physical survey of the property.

Question 14

When are you required to register with the RICS when setting up a firm.

Answer 14

1. If providing surveying services to the public and operating in the UK.
2. Must register if at least 50% of directors are RICS members
3. May register if at least 25% are RICS members.

Question 15

What are the requirements for setting up a firm with the RICS?

Answer 15

1. Notify and register with the RICS
2. Have adequate PII
3. Separate account for clients money
4. Complaints handling procedure
5. Terms of engagement for services being offered and fee basis.
6. Comply with employment legislation

Question 16

What are the RICS requirements for a complaints handling procedure?

Answer 16

1. Acknowledge complaint within 7 days
2. Give substantive response within a further 21 days
3. If claimant is still not happy, refer to external redress system. i.e. property redress

Question 17

What is your employers complaints handling procedure?

Answer 17

1. Submit complaint online which will go to democratic services team.
2. Passed to relevant department who will acknowledge within 7 days. A substantive response will be issued within 21 days.
3. If they are not happy, it will then be referred to the assistant director. If they are still not happy, it will be referred to the chief executive.

Question 18

What happens to interest gained on a clients account?

Answer 18

Accredited back to clients account.

Question 19

Can you have fire safety exclusions within your PII?

Answer 19

No

Question 20

What is minimum run off cover do you need as a firm?

Answer 20

A minimum of 6 years with £1m of cover.