Very Short ethics Flashcards
N20. What is the Governing Structure for the RICS?
- There is a 70 strong governing council chaired by the president.
- They meet two times a year.
- New president every year.
N21. can you describe the RICS governing structure to me?
- At the top is the Governing Council.
- Below this is the Regulatory Board, (the Audit Committee, Leadership Nominations Committee, Nominations Committee and an Administrative Appeals Panel) and the Management Board.
- Below the Management board there is:
- Knowledge board
- World Regional Board.
- Finance Comittee.
- Renumerations Comittee
N41. What are the Five Principles for Better Regulation?
- Accountability.
- Consistency.
- Proportionality.
- Targeting.
- Transparency.
N42. Who determines the Five Principles for better regulation?
Regulatory Board
N43. What is the difference between ethics and rules?
- Ethics are a moral principle and value.
- Rules are the framework we work to.
N44. What are the Global Professional and Ethical Standards?
- Always act with integrity.
- Act in a way that promotes trust in the profession.
- Always provide a high standard of service.
- Take responsibility.
- Treat others with respect.
N45. What does providing a high standard of service mean to you?
Ensuring that clients and those you have a responsibility over receive the best possible advice and support.
- Providing clarity on what the client wants, and what you are offering.
- Acting within your scope of confidence.
- Being transparent about fees.
N46. What does promoting trust in the profession mean to you?
Acting in a manner, both in your professional life and private life, to promote you, the organisation you work for and the profession in a professional way.
- Promoting what the profession stands for.
- Understanding that this should be reflected within your personal life.
- Fulfilling obligations, doing what you say you will do.
- Meeting the spirit of the standards, not just the words.
N47. What does acting with Integrity mean to you?
This means being honest and straightforward in all that you do.
- Being trustworthy.
- Being Open and transparent.
- Not taking advantage of those whom you have a duty of care.
- Not allowing bias or a conflict of interest to override business judgement.
- Not offering or accepting gifts.
- Acting consistently in the public interest.
N48. What does taking responsibility mean to you?
Being accountable for your actions and not blaming others.
- Always act with skill, care and diligence.
- Where complaints are made against you, respond in an appropriate and professional manner to aim to resolve the issue.
- If you don’t think something is right be prepared to raise the matter with the appropriate person.
N49. What does treating others with respect mean to you?
Being courteous, polite and considerate to others. Also being aware of culture sensitivities.
- Never discriminate.
- Encourage the firm to work in a fair and respectful manner.
N50. Why does the RICS have rules of conduct?
• They provide a framework we can all work to, whilst ensuring a Client understands exactly the service they should be receiving.
N51. How many Rules of Conduct are there from Members?
9
N52. Can you list the Rules of conduct for members?
- Interpretation of member
- Communication.
- Ethical Behaviour.
- Competance
- Service
- CPD
- Solvency
- Information to RICS
- Cooporation
N53. How many Rules of Conduct are there for Firms?
• 15
N54. Can you list the Rules for firms?
- Interpretation of firm.
- Communication.
- Professional Behaviour.
- Competance
- Service
- CPD and training
- Solvancy
- Information to RICS
- Cooporation
- Handling clients money
- Complaints handling procedure
- Professional indemnity insurance
- Advertising
- Locum arrangements
- Use of Designations
N67. What is a conflict of interest?
• When someone in a position of trust has competing personal or professional interests, making it difficult from them to fulfil their duties impartially.
N77. What are regulated firms required to do?
• Put in place systems to stop money laundering.
N80. What would you do if a Client offered to pay you in cash for your works?
• Ask them to pay the cash into an online bank account then transfer the money, as paying in cash could be seen as tax evasion.