The RICS Flashcards
What does the RICS stand for?
Royal Institution of Chartered Surveyors
What is the RICS motto?
Est Modus En Rebus - There is measure in all things
What is the RICS objective
To maintain and promote the usefulness of the profession for the public advantage in the
United Kingdom and in any other part of the world
When did the RICS receive its charter?
1881 from Queen Victoria
Who is the president of RICS
Tina Paillet
When must a firm join RICS?
- Operating in Regulated Area A (the UK)
- The firm provides surveying services to the public
- at least 50% of its principals are RICS members
When can a firm join RICS
- At least 25% of its principals are RICS members
- The firm provides surveying services to the public
What are the 4 classes within the RICS
- Fellow
- Member
- non-Chartered member
- Honorary member
Where is the current headquarters
12 Great George Street, Parliament Square, London
What is a responsible principal
They ensure that RICS’ professional, technical and ethical standards are
applied, upheld and supported by an appropriate assurance framework within a regulated firm
Who can be a responsible Principal
They must satisfy 3 requirements:
1. Head of Regulations is satisfied they’re appropriate
2. They are able to, or report to someone who is able to influence strategic objectives and significant decisions
3. They are an RICS member; OR appointing an RICS member is impractical AND the principal has sufficient experience
What is the structure of the RICS?
- Privy Council
- Governing Council
- RICS board & Standards and Regulation Board
- Committees (RB) and the regulatory tribunal (SRB)
What are the 3 types of sanction the RICS can apply?
- Fixed Penalty Notice
- Regulatory Compliance Order
- Regulatory Sanction
Why can you be fined by RICS?
- Failure to pay fees
- Failure to record CPD
- Failure to comply with obligation around providing requested information
What are the fines an individual can receive?
£250
£450 (after 28 days)
Regulatory Tribunal (after 56 days)
