Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

RICS APC > Ethics > Flashcards

Ethics Flashcards

1
Q

What is the RICS

A

The RICS is the world leading professional body specialising in land, property construction and represents 130k qualified professionals

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

When was the RICS founded

A

1868 and got the royal charter in 1881

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What are the rules of conduct

A

“1. Be honest, act with integrity and comply with professional obligations

  1. Maintain professional competence and ensure that services are provided by individuals with competence and expertise
  2. Provide a good quality and diligent service
  3. Treat other with respect and encourage diversity and inclusion
  4. Act in the public interest, take responsibility and maintain public confidence”
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Why were the codes of conduct updated?

A

Replace rules for individuals & firms and rules of conduct
Based on behaviours & sustainability

Simpler structure
Clear examples
Focus on respect, diversity and inclusion
Understand evolving technology
Tackling global challenges
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Who is the RICS CEO

A

Richard Collins

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Who is the president of the RICS

A

Clement Lau

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Who is the president elect of the RICS

A

Anne Grey

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Who is the senior vice president

A

Tina Paillet

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What are your professional obligations

A

“Comply with the CPD requirements

Cooperate with the RICS

Promptly provide all reasonably requested information”

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What is a conflict of interest

A

A COI is when a person or company become unreliable due to a clash of interests.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

How would you deal with a conflict of interest

A

“1. Decide if you will proceed and layout concerns in writing

  1. Advise of the circumstances and how you will deal with conflict
  2. Advise to obtain independent advice
  3. get written confirmation ok to proceed
  4. If withdrawing provide written notification”
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What is the RICS advice on conflict of interest

A

Avoid where possible

RICS Conflict of Interest Professional Statement

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

What is the ethics decision tree

A

The ethics decision tree is a tool used by the RICS to provide surveyors with several ethical questions to answer to ensure that they meet ethical standards

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What are the CPD requirements

A

“To record 20 hours per year 10 formal 10 informal

must be recorded by 31st January

Understanding of ethical standards must be renewed every three years”

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Why would the gift affect your impartiality

A

It would present an ethical decision by accepting it could be seen as swaying my impartiality to the contractor and it could affect my ability to make clear decisions

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

How do you deal with a complaint

A

I advise them of our complaints handling procedure and notify the complaints handler (director)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

What is your companies complaints handling procedure

A 
"Acknowledge within 24hr
Respond within 5 working days
Face to face meeting within 15days
Give client 15days to respond
If client not satisfied refer to independent redress e.g. property ombudsman or financial ombudsman's service"
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

What insurance would you need to take out to if you started your own firm

A

PI Professional Indemnity Insurance, along with employers liability and public liability

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

What must your firm do if you want to register with the RICS

A

“Offer services in surveying

25% of directors RICS qualified

Observe rules of conduct”

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

What are the Professional obligations for firms?

A
  • Have complaints handling procedure which refers complainants to ADR provider and keep complaints log
  • Previous and current work covered by insurance
  • Make arrangements for works to continue in the event of incapacity
  • Cooperate with RICS
  • Provide any information requested by the RICS
  • Display business literature in accordance with RICS policy
  • Report any matters required under the rules of registration of firms
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

What must you have to be a regulated company

A

“Have insurance
complaints handling procedure
clint money handling procedure
QA/QC”

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

What is PII

A

Professional Indemnity Insurance

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

What is negligence

A

When the delivery of your service falls below the recognised standards to prevent risk or harm

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

What levels of PII do the RICS require

A

“It is all related to your previous years turnover;

£0-£100k - £250k
£100-£200k - £500k
£200k+ - £1m”

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

If you were winding up a company what would you need to do

A

Notify the RICS take out run off cover

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

What is run off cover

A

Covers you for the prior to the end of liability under the contract

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

What is the RICS and what does it mean to you

A

“The RICS is a professional body that represents 125k construction professionals.

The RICS is the benchmark for professionalism of surveyors.

It is a guarantee of the surveyors skill and competence”

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
28
Q

What are the discipline procedures

A

“When a complaint or concern is raised against a member

It is investigated and when serious enough and supported by evidence the standards and regulatory board consider disciplinary action

For less serious actions the Head of Regulation may impose a consent order to ensure compliance with future standards May include fine, caution or conditions on the membership.

It may need to go to disciplinary panel and may impose fine or expulsion”

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
29
Q

What is a consent order

A

“A compliance order is an agreement between the RICS and a regulated member.

The regulated member agrees that;

  • Accepts they have fallen short of standards
  • Accept sanctions
  • Accept steps to prevent it happening again

They compliance order will consist of one of the following;

  • Caution
  • Reprimand
  • Member gives one or more undertaking to future conduct
  • Requirement for member to stop certain actions within a period of time
  • Conditions on continued membership
  • Conditions on registration
  • Fine up to £2k”
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
30
Q

Are you aware of any RICS initiatives

A

Inspire future Surveyors

RICS Inspire programme is a catalyst for showcasing the profession to the next generation.

It attempts to inspire young people and influencers about surveying’s role in shaping our world and equipping young people with the skills needed to pursue a professional surveying career.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
31
Q

What is the RICS new arbitration service

A

“New RICS arbitration services

It aims to provide unrivalled service to meet expectations of parties during arbitration

Uses highly qualified arbitrators with specialist knowledge to ensure independence in dispute”

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
32
Q

What is Lion Heart

A

“Lion heart independent charity to support past and present RICS Professionals and families though any of liges challenges from start to retirement

APC support
Work Life balance & Stress management
Presentation practice
Workshops & webinars
Counselling
Coaching
APC Ambassadors"
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
33
Q

Where is the RICS head office

A

12 Great George Street London, SW 1P 3AD

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
34
Q

What other professional groups are included in the RICS

A

“Building Surveying

Building Control

Commercial real estate

Facilities management

Planning and development

PM

QS

Valuation surveyor”

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
35
Q

What is the RICS governing structure

A

“Governing Council - Sets overall strategy for RICS and provides high level assurance around standards and professionals.

Management Board - Inform and oversee RICS affairs under delegated authority. Report directly to governing council and accountable for approving business plan

Standard and regulation board - Responsible for overseeing/setting and upholding standards through global assurance, providing independent oversight and public-interest perspective across standards and entry to profession and regulation

Audit committee - Monitors integrity and effectiveness of financial reporting, internal control and risk management”

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
36
Q

What is the RICS matrics

A

supports new members

working with RICS to share future of surveying

and grow size and respect

37
Q

What other memberships are their other than MRICS

A

Student member

APC Candidate

AssocRICS - Recognises work based experience and vocational qualifications. Shows you are qualified regulated and trusted. SOE & Case Study & CPD record

FRICS”

38
Q

How do you become FRICS

A

” - You have to demonstrate four out of the twelve characteristics. There are 3 core principles;

  1. Demonstrate intent to further RICS and the profession.
  2. Act for the benefit of a third party to reflect RICS’ public interest mandate.
  3. Promote RICS objectives and the profession.

submit application for assessment which is reviewed and decided by RICS”

39
Q

what levels of PII insurance are required by the RICS?

A 
"£0-100 = 250k
£100-200= 500k
£200+ = £1m+"
40
Q

Why do we require PI insurance?

A

it covers professionals for claims made against them for negligence

41
Q

In professional Indemnity Insurance, what is the difference between each and every claim and aggregate?

A

“Each and every claim - means the limit is payable each in respect to every claim
Aggregate - the limit is only claimable once and for however many claims are made on it

Each and every hard to get
cladding contractors struggle due to Grenfell “

42
Q

What the difference between formal and informal CPD?

A

“Formal CPD Formal CPD can be any form of structured learning that has clear learning objectives and outcomes - Professional Course, Seminars, conferences

Informal CPD Informal CPD is any self-managed learning that is relevant or related to a member’s professional role - Study and learning”

43
Q

What is your RICS Membership number

A

7374935

44
Q

What is the royal charter

A

Awarded in 1881
“maintain and promote the usefulness of the profession for public advantage.”

changes to constitution must be ratified by government

45
Q

What is the role of thee RICS

A

Regulate and promote the profession

Maintain educational and professional standards

Protect clients and consumers through codes of ethics

Provide impartial advice analysis and guidance

46
Q

What are the principles of better regulation

A

Proportionality

Accountability

Consistency

Targeting

Transparency

47
Q

Who is the privy council

A

They grant and award the royal charter

48
Q

Who administers the rules and codes of conduct

A

RICS Standards and regulation board

49
Q

What are different types of RICS document

A

Guidance note - Recommended best practice

Professional stastement - Mandatory

Code of practice - Best practice or mandatory (will state in document)

50
Q

What is the black book

A

A series of guidance notes for technical standards

Cashflow
Acceleration
Cost Analysis and bench marking
Retention
E-Tendering
51
Q

Do the RICS provide any guidance on conflicts of interest

A

COI RICS Professional statement

52
Q

What is the bribary act

A

Bribary act 2010

Makes it illegal to give or take bribe

Fine or imprisonment

53
Q

If you were approached to provide surveying services for a friend would you

A

No. I would not hold PI i would only be able to under the umbrella of my company

54
Q

What is FRICS

A

‘An honoured class of membership awarded on the basis of individual achievement within the profession

55
Q

How many countries do the RICS cover

A

146 countries

56
Q

What are the routes for RICS APC submission

A

Built Environment

Land & Property

57
Q

How many people in the RICS governing council

A

25

58
Q

How would you limit your liability on appointments

A

Sign the appointments under hand

59
Q

What are the hot topics RICs have recently looked at that impact you as a QS?

A
  1. Changes to NRM (in line with RIBA stages, Code of measurement & ICMS (International Cost Management Standards)
  2. Ethics Rules changing in Feb 2022
  3. Lord Bichard Report - 36 recommendations
60
Q

What is the Carsberg report?

A

A third party review of how the RICS regulates itself.

Recommended greater separation of regulatory and representational functions.

Recommended chartered surveyors should still be regulated by the RICS but that this should involve separate regulatory and conduct boards.

61
Q

How many RICS professional groups are there?

A

18

62
Q

What is the name of the RICS journals?

A

MODUS

63
Q

What complaints can the RICS investigate?

A

Any breach of their conduct

They will not investigate whether a high level of service is provided

64
Q

What are your company’s Ethical standards?

A

Results Driven

Client Focussed

Team Player

Innovative

Principled

65
Q

What is the RICS mantra?

A

Est Modus Rebus’ = There is measure in all things

66
Q

What are the RICS requirements that PI insurance must have?

A

It provides minimum wording
It sets out minimum levels of indemnity
It sets out the maximum levels of uninsured excess
Run off cover must be in place for at least 6 years
It should include for past and present employees, directors and partners

67
Q

If an estimate is incorrect, can the client claim damages against the QS?

A

Not necessarily, only if they can prove that the QS did not act with reasonable skill and care

68
Q

What would your approach be if client wanted to pay you in advance for works

A

Advise clients who pay fees in advance that this money is not covered by the Client Money Protection scheme.
Provide a receipt
RICS advises against cash payments & request made by transfer & held in a client account.

69
Q

What are Bye-Laws?

A 
A law or rule governing the internal affairs of an organization.
A secondary law.
e.g.
1. Definitions set out by RICS
2. Membership & registration
3. Designations
4. Contributions to Funds
5. Conduct
6. Governing council, officers & staff
7. Subordinate boards, officers & staff
8. Procedure for general meetings
9. Accounts & Audit
10. General
70
Q

chair of gov council?

A

Nick McClean - interim (post levitt report) - Oct 2021 for 12 months

71
Q

What is the difference between Professional integrity & Professional ethics?

A

a. Prof integrity – what we do – open honesty & transparency

b. Prof ethics – how we behave & framework of how we act

72
Q

How does the RICS promote sustainability?

A

a. RICS SKA rating for internal fitouts - rating helps landlords and tenants assess fit-out projects against a set of sustainability good practice criteria
b. Sustainability reports
c. ICMS - International Cost Management Standard
d. New rules of conduct.

73
Q

When are the new rules of conduct effective from?

A

2nd February 2022

74
Q

What do the new rules of conduct replace?

A

Rules for member, Rules for Firms & global professional and ethical standards

75
Q

What sort of information do registered firms have to provide RICS with annually?

A 
Annual Return (on-line) -
Types of business and staffing.
Nature of clients
Training Provisions
Complaints procedure & log
PI insurance details
Details on whether any client moneys are held
76
Q

What is the Royal Charter?

A

The ROYAL CHARTER is a document issued by a Monarch as letters patent granting right of power to an individual or a body corporate

The Royal Charter requires us to promote the usefulness of the profession for the public advantage

Important changes to RICS’ constitution - its bye-laws - have to be ratified by the UK Government, through the Privy Council,

77
Q

What does RICS Stand for

A

Royal Institute of Chartered Surveyors

MARK OF PROFESSIONALISM WORLDWIDE

78
Q

What should fees be?

A

Open and transparent - Client should understand what they have paid for

79
Q

What CPD have you recently attended

A

Formal - Internal APC sessions.

Informal - APC Revision. Reading around the Part L&F upgrades and Future homes and building standards 2025

80
Q

Are you aware of industry specific publications?

A

Modus

Building Magazine

Construction News

81
Q

Are you aware of industry specific publications?

A

Modus

Building Magazine

Construction News

82
Q

What was the Levitt review

A

The Independent Review to investigate articles in the press that alleged that RICS ‘tried to supress a critical internal report into its finances in 2018/2019 and then unfairly dealt with those who sought to explore the issue’

83
Q

What happened following the Levitt Review

A

The RICS accepted all recommendations

RICS commissioned the Bichard report

84
Q

What is the Bichard Report & why was it conducted

A

The Bichard Review was commissioned by the Governing Council in December 2021

Following a recommendation in the Levitt Review that a “wide-ranging examination of purpose, governance and strategy” should be conducted by an external reviewer, replacing the previous internal review ‘Defining our Future’

85
Q

What was the conclusion of the Bichard report

A

It makes 36 recommendations for implementation.

Place renewed focus on public interest and the role of members in leading the institution, and span regulation, diversity and inclusion, sustainability, member engagement, inspiring the next generation of surveyors and leadership on major issues of societal importance

86
Q

What was the timescale for the Bichard report recommendations

A

Lord Bichard recommends the reforms are implemented quickly and in three phases.

  • Phase one would focus on transitioning the Chair of Governing Council’s responsibilities to the President; recruiting a new Chair of the Board, a permanent leader for the Executive and a Chair of the combined Nominations and Recruitment Committee. There would be a consultation over changes to professional groups and a framework document.
  • Phase two would focus on transitioning Management Board responsibilities to the new Management Board; recruiting a Senior Independent Governor and independent member and appointing Board members; and conducting elections for geographic Governing Council seats in early 2023.
  • Phase three would focus on the establishment and population of the five key Committees; the new Professional Group Panels; and World Regional Boards. Elections for the new disciplinary Governing Council seats.
87
Q

Can you provide an example of a COI

A

A consultant working on a tender then moves to a contractor or visa versa. It could affect impartiality.

88
Q

Ethics decision tree

A

RICS APC (18 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions