The RICS

Question 1

When was the RICS founded?

Answer 1

1868

Question 2

Who is the current President?

Answer 2

Tina Paillet

Question 3

Where is the RICS’s Head Office

Answer 3

Parliament Square, London

Question 4

What are the 5 rules of conduct?

Answer 4

1. Be honest & act with integrity. 2. Maintain professional competency. 3. Provide good quality & diligent service. 4. Treat others with respect & promote inclusivity & diversity. 5. Act in the public interest & take responsibility for your actions.

Question 5

What are the RICS’s 3 main roles?

Answer 5

1. Maintain high standards of education *& training. 2. Protect consumers through strict regulation of professional standards. 3. To be the leading source of information and independent advice.

Question 6

What are the 7 requirements to register a new company with the RICS?

Answer 6

1. Type of business & staffing details. 2. Name of responsible person. 3. Details of any statutory regulated activities. 4. Nature of clients. 5. Complaints handling procedures. 6. PI insurance details. 7. Whether you hold clients money.

Question 7

What are the legal requirements to starting a new practice (13)?

Answer 7

1. Business name. 2. Disability discrimination compliance. 3. Financial services compliant. 4. Bribery Act compliance. 5. Appoint a money laundering officer. 6. H&S compliance. 7. Asbestos register. 8. Fire safety. 9. GDPR. 10. Estate Agency compliance. 11. Inform HMRC for VAT & Tax purposes. 12. Employment law compliance. 13. Insurance as employer & public liability.

Question 8

How do you close a practice (5)?

Answer 8

1. Inform the RICS. 2. Inform clients and arrange handover. 3. Return any client money. 4. Inform insurers & arrange run-off cover for at least 6 years. 5. Retain client files & records for at least 6 years.

Question 9

What is the RICS’ published professional standards for measuring properties?

Answer 9

Code of Measuring Practice, 6th Edition, May 2015

Question 10

Does anything override the Code of Measuring Practice?

Answer 10

The International Property Measurement Standards, 2nd Edition, January 2018 (for offices and residential)

Question 11

What has been happening recently within the RICS?

Answer 11

Been a little turbulent with the Standards & Regulation Board resigning. Levitt & Bichard Reviews to improve governing structure, culture and strategy.