Weak Area - RICS Documents

Question 1

What is the RICS guidance on Client Money?

Answer 1

• Client Money Handling UK 2019
• Professional Standard!
• Ensures client money is kept safe
• Money is used for appropriate purposes
• appropriate controls and procedures are in place to safeguard money.

Question 2

What year is was the client money handling document published?

Answer 2

2019
Effective 2020.

Question 3

RICS document on complaints?

Answer 3

• Complaints Handling UK 2016
• Professional Standard!

Question 4

What is detailed in the Complaints Handling Professional Standard?

Answer 4

• Firms must publish a CHP with an ADR provider included
• RICS model form.
• Firms must maintain a complaints log.
• Policy should be in ToE.
• Must be investigated within 28 days.
• Most notify PII provider ASAP
• Must be two stages - CHO then ADR.

Question 5

Can you define client care?

Answer 5

• looking after a client’s best interests, providing value for money, and satisfying their needs

Question 6

What are the 5 principles of better regulation?

Answer 6

PACTT
- Proportionality
- Accountability
- Consistency
- Targeting
- Transparency

Question 7

What is the RICS document on Bribery?

Answer 7

• Countering bribery, corruption, money laundering and terrorist financing Global 2019

Question 8

What are the principles of the Bribery Act 2010?

Answer 8

PCRCDM
- Proportionate Procedures
- Top Level Commitment
- Risk Assessments
- Due Diligence
- Communication
- Monitoring and Review

Question 9

What is the RICS document on conflicts?

Answer 9

• Conflicts of Interest Global 2017
• Professional Standard!

Question 10

What does the RICS advise on Conflicts?

Answer 10

• RICS member or firm must not advise or represent a client where a Conflict is present unless parties have provided Informed Consent
• Members and firms must ensure they advise clients objectively and independently.

Question 11

What is the new RICS document on agency and management?

Answer 11

Property Agency and Management Principles Global 2024
- Professional Standard

Question 12

What are the principles of the Property Agency and Management Principles 2024?

Answer 12

• Brings together previous agency and management disciplines.
• Focus on Rules of Conduct, Working with Clients and Managing businesses and staff.
• Sets out what members and firms must do, for example members must communicate accurately and transparently, fees, ToE,