Mandatory

Question 1

5 RICS Ethical Standards

Answer 1

Take responsibility
Treat others with respect
Act in a way that promotes trust in the profession
Always provide a high standard of service
Act with integrity

Question 2

Money Laundering regulation

Answer 2

Money laundering terrorist financing and transfer funds regulations 2017

Question 3

What documents / do you do for money laundering regs

Answer 3

Meeting individual in person client and parties
Requesting ID documents
Source of funds
Transactions
Instructions

Question 4

Terms of business HOT

Answer 4

Name / business name
Address
Description of service
Places and hours of business
Our duty to you
Your responsibility
Responsibility for your work
Fees
Terms of business
Privacy policy and fair processing notice
Money laundering
Keeping you up to date
Governing law and jurisdiction

Question 5

Requirements when starting own business

Answer 5

Offer professional services in surveying disciplines
Have at least 25% of principles (partner, manager) who are qualified RICS professionals
Agree to observe and comply with RICS rules of conduct

Question 6

Insurances

Answer 6

Employers insurance
Professional indemnity insurance

Question 7

Professional indemnity insurance based on turnover cover

Answer 7

£100,000 or less = £250,000 min
£101,000 to £200,000 = £500,000 min
£201,000 and above = £1 million min

RICS UK Professional Indemnity Insurance Requirements Version 9