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Ethics > The RICS > Flashcards

The RICS Flashcards

1
Q

What would you do if a friend asked for advice?

A

Decline, not covered by PII

Request to make a formal request via a call so I can establish the requirements and if I am able to assist in advising

If not, refer them to RICS find a surveyor

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2
Q

What are the benefits of firms being regulated?

A

Professional Indemnity in line with RICS Standards

Ethical Standards

CPD

High standards of service

Global network

Recognition

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3
Q

What must regulated firms submit to the RICS and how often?

A

Yearly

Financial status
Complaints policy
Money policy
P.I

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4
Q

What is a Professional Statement?

A

.

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5
Q

Can you name some RICS Professional Statements?

A

.

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6
Q

Name 5 other professional groups?

A

Project Management, Building Surveying, Building Control, Commercial Property, Dispute Resolution, Environmental, Facilities Management, Geomatics, Valuation, Rural

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7
Q

Why do you want to be a member of the RICS? (NECKERS)

A

Status: Becoming chartered with the RICS viewed upon highly in the industry

Recognition: Being chartered by the RICS will give clients confidence in my professional competence

Competitive advantage: By working to RICS standards you provide confidence to the market and gain a competitive advantage.

Knowledge - improve knowledge with RICS best practice standards and CPD

Network - connect to other professionals

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8
Q

What legislation has an impact on you operating as a chartered surveyor?

A
  • Anti Bribery Act 2010
  • Money Laundering Act 2017
  • GDPR
  • CDM Regulations
  • HASAWA 1974
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9
Q

What is the RICS Aim?

A
  1. Promote the profession
  2. Highest education and professional standards
  3. Strict code of ethics
  4. Provide impartial advice guidance and analysis

RICS want to achieve:

  • Roll out IPMS
  • More younger people
  • Greater global coverage
  • Data protection
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10
Q

And what are the types of documents the RICS publish?

A
  • Professional Statement
  • RICS Code of Practice
  • RICS Guidance Note
  • RICS Information Paper
  • RICS Insight
  • Modus
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11
Q

How do you keep up to date with the current market?

A

.

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12
Q

What does RICS stand for?

A

Royal Institution of Chartered Surveyors

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13
Q

What are the RICS Rules of Conduct for members and firms?

A

They are made by the RICS Regulatory board

There are 9 rules for members (January 2013)

There are 15 rules for firms (January 2012)

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14
Q

What is the RICS motto?

A

‘Est modus in rebus’ there is a measure in all things

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15
Q

What do RICS members / firms offer advice in?

A

Property construction,

Project management,

Dispute resolution

Environmental issues

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16
Q

What are the benefits of the RICS?

A

Status – your professional credentials provide unrivalled client confidence.

Recognition – promotion of your professional excellence to governments and markets.

Market advantage – RICS status and standard gives you a competitive advantage.

Knowledge – International practice standards, professional guidance, CDP and knowledge sharing.

Network – Access to 118,000 professionals worldwide

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17
Q

Who is the President of RICS and how long are they in place?

A

Kathleen Fontana

1 year

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18
Q

What is the RICS Structure?

A

Privy Council - Royal Charter & Bye Laws

Governing Council - manage strategy of RICS

Standards and Regulations Board -

Management Board - inform and oversee RICS surveyors and executive strategy set by Gov Council

Audit Commitee

Nominations comitee

Pres nom committee

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19
Q

What is below the management board?

A

Finance comittee

World regional boards

Remuneration comittee

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20
Q

In case of a breach of a rule of conduct what is the procedure?

A

An investigation will be undertaken which could be followed by disciplinary action

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21
Q

What Laws and Regulations Govern the RICS?

A

RICS self regulated

Royal Charter
10 bye laws
Privy council / themselves

22
Q

What is the RICS Matrics

A

RICS Matrics supports new members entering the profession

  • Networking and Social
  • For young surveyors in the industry
  • Less than 10 years’ experience post degree
23
Q

What is the purpose of guidance notes?

A

Intended to promote best practice throughout the profession and ‘High Standard of Service’.

24
Q

Why are the ethical standards important?

A

Create a clear and streamlined guide to members to ensure that clients and anyone else who deals with the RICS has confidence in the profession

25
Q

What are ethics?

A

Moral principles to promote Integrity, Honesty and Trust

26
Q

Where is the RICS head quarters?

A

12 Great George Street, London, SW1P 3AD

Westminster

27
Q

What is lionheart?

Any events you’ve been aware of?

A
  • Provides support to past and present members and families who have fallen on hardtimes
  • Support for mental health
28
Q

What has RICS done recently in regards to mental health?

A
  • Additional professional group
  • Support through Lionheart
  • Raise awareness on website / through publications
29
Q

What are the requirements to become a fellow?

A

5 yrs experience
Managerial role
Significant contribution

30
Q

How would you become involved as a member?

A

Supervisor
Respond to surveys
Promote the RICS

31
Q

What is the RICS Foundation?

A

Research on construction and land

32
Q

What is a Royal Charter? When was it updated?

A

A document granted by Granted by Queen Victoria in 1881 which gives a royal status and for me it means i must “promote usefulness of the profession for public advantage”
Privity council controls it

Feb 2020 updated

33
Q

Why do some firms have to be regulated?

A

50% of principles are members

To provide clients with confidence and security by the RICS globally recognised standards

34
Q

What is Kathleen Fontana trying to achieve?

A

Driving 3 pillars of sustainability

Driving youth in the profession

Round table discussions with surveyors

Diversity

35
Q

How many professional groups?

A

18 - can become chartered in 3.

36
Q

What are the professional groups sectors?

A

Land

Built Environment

Disputes

37
Q

Can you tell me about recent publications you have read from the RICS?

A

Changes to PII wording
Low value adjudications (upto £50k)
EWS Process
BIM in Portugal

38
Q

Tell me about recent modus magazines?

A

The benefits of employing an apprentice
Working from Home
Property market may not recover until 2025

39
Q

How do you become an assessor?

A

Min 2 years experience as MRICS

1 day training course

40
Q

What is the RICS vision?

A

Increase presence in key international market

Recognised as industry leader

Champion the profession

41
Q

What are the regulations set by the RICS?

A

Set out by the Privy Council and the bye laws

REGULATION 1 – DEFINITIONS

REGULATION 2 – MEMBERSHIP AND REGISTRATION

REGULATION 3 – DESIGNATIONS

REGULATION 4 – CONTRIBUTION TO FUNDS

REGULATION 5 – CONDUCT

REGULATION 6 – GOVERNING COUNCIL, OFFICERS AND STAFF

REGULATION 7 - SUBORDINATE BOARDS, COMMITTEES AND GROUPS

REGULATION 8 - PROCEDURE FOR GENERAL
MEETINGS AND VOTING

REGULATION 9 – ACCOUNTS AND AUDIT

REGULATION 10 – GENERAL

42
Q

What do you need if you start your own business?

A
  • Inform RICS
  • Appoint a contact
  • Apply for RICS Regulation
  • Have at least 25% principals
  • Agree to observe and comply with RICS Rules of Conduct for Firms, including working to RICS standards.
  • Insurances (P.I, Public Liability, Employers Liability)
  • Action & training to deal with Clients Money
  • Complaints handling procedures
  • Ensure training and CPD
43
Q

What is the role of the Governing Council?

A
  • Main governing body
  • Oversees the RICS
  • Sets the overall strategy for the RICS
44
Q

What is the role of the Management Board?

A
  • To inform and oversee the RICS with delegated authority from the governing council
  • Accountable for approving the RICS Business Plan
45
Q

What is the role of the Standards and Regulations Board?

A
  • Oversees the setting of standards throughout the RICS

- Responsible for standard setting, entry to the profession, and regulatory processes

46
Q

What is the role of the Audit Committee?

A
  • Monitors the integrity of the financial reporting, internal control and risk management systems
47
Q

Who is the CEO?

A

Sean Tompkins

48
Q

What is the regulatory tribunal?

A

An independent chair

49
Q

How does the RICS communicate with Firms?

A
  • In person
  • Email
  • Phone
  • Post
50
Q

When must a firm register with the RICS?

A

A Firm is required to register for regulation by RICS if:

a the Firm provides surveying services to the public;

b the Firm is operating in the UK;

c at least 50% of the Firm’s Principals are RICS Members.

51
Q

When is a firm eligible to register for regulation?

A

A Firm is eligible to register for regulation by RICS if:

a the Firm provides surveying services to the public; and

b at least 25% of the Firm’s Principals are RICS Members.

Ethics (12 decks)

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