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Ethic, Rules of Conduct and Professionalism Flashcards

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1
Q

How does RICS ensure standards of professional conduct and practice are upheld?

A

RICS rules of conduct
Apply to all member and firms regulated by RICS as defined in the bye laws

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2
Q

What are the RICS rules of conduct?

A

Members and firms must act with honesty and integrity and comply with their professional obligations.

Members and firms must maintain their professional competence and ensure that services are provided by competent individual who have the necessary expertise.

Members and firms must provide good quality and diligent service.

Members and firms must treat other with respect and encourage diversity and inclusion.

Member and firms must act in the public interest, take responsibility for their actions and act to prevent harm and maintain public confidence in the profession.

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3
Q

Provide an example of behaviour to comply with rule 1?

A

Honesty and Integrity
- Do not mislead others by actions.
- Identify actual and potential conflict of interests
- Open and transparent about fees and service
- Do no take unfair advantage of others
- Do not facilitate money laundering, bribery or corruption.

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4
Q

Provide and example of behaviour to comply with rule 2?

A
  • Carry out the work you have the skills and knowledge for competently
  • Supervise employees undertaking work ensuring they have the necessary knowledge
  • Maintain and develop knowledge
  • Stay up to date with legislation, codes of practice.
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5
Q

Provide and example of behaviour to comply with rule 3?

A
  • Understand clients needs and objectives before accepting professional work
  • Agree scope of services and it limitations and timescales of work
  • Communicate in clear way
    -Have effective quality assurance processes for their work
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6
Q

Provide and example behaviour to comply with rule 4?

A
  • Respect the right of others and treat other with courtesy
  • Do not bully, victimise or harass
  • Check supply change for modern slavery (submit modern slavery statements)
    -Work cooperatively with others
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7
Q

Provide an example behaviour to comply with rule 5?

A
  • Support in reporting of concerns
    -Respond to complaints made against them
  • Do not dissuade complaints from approaching an alternative dispute resolution.
    -Take appropriate action when suspect rules of conduct have been breached and report to RICS.
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8
Q

What are the professional obligations for RICS members?

A

Included within the appendices’ of the RICS rules of conduct.
-Complete 20hrs of CPD half of which is formal
-Cooperate with RICS
-Promptly provide all information requested by the RICS

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9
Q

What are the professional obligations for RICS-regulated firms?

A
  • Publish a complaints handling procedure, which includes an ADR
    -Ensure all previous and current work is covered by PI that meets the standards covered by RICS.
  • Firms wit a sole principal must have a locum to ensure work continues
    -Must provide all information requested by rics.. yearly account
    -Firms must display on their business literatures in accordance with RICS published policy on designations that they are regulated by RICS.
    -Report any matters they are required to report.
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10
Q

Are you aware of any RICS regulation on the use of social media accounts?

A
  • Use of social media guidance for RICS members
  • standards do not change if you are communicating through social media other than face to face
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11
Q

You attend a work social event and witness two junior colleagues acting in a way which could bring you firm into disgrace. What do you do?

A

Speak with them immediately to stop reputation damage of the business. Then address their actions formally in working hours.

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12
Q

Why does RICS publish guidance notes and do chartered surveyor have to follow them?

A

If you face an professional negligence claim you will need to be able to evidence that you acted with reasonable competence. Proving you followed the RICS guidance notes does this.

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13
Q

Are you aware of any regulation associated with the use of RICS logo?

A

RICS logo and designation by firms
Guidelines for personal use of RICS logo and designation by RICS professionals.

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14
Q

What are the two new professional guidance?

A

Practice information
Professional standard

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15
Q

What is the purpose of professional standards documents?

A

Set requirements and expectations for RICS members and regulated firms.

Mandatory requirements a surveyor must follow such as use of NRM

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16
Q

What is the purpose of practice information document, what info/ obligations might they contain?

A

Supplementary guidance to support surveyor in delivering specific services . Not mandatory can include definitions, processes, insights. I.e. Appropriate contract selection… advising but down to the surveyor

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17
Q

Can you explain how you act with integrity?

A
  • Being trustworthy
    -Open and transparent
  • Respecting confidential information
  • not allowing bias, identifying conflict of interest
  • Identifying potential bribes
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18
Q

Why must you act within you professional competence?

A

To ensure do not advise client incorrectly.
May not be qualified to advise eon things like insurance and VAT therefore could be acting negligently.

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19
Q

Can you explain how you act responsbily?

A

Be accountable for all my actions
Act with skill care and due diligence
Ensure an appropriate complaint handling procedure

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20
Q

How do you ensure a high standard of service?

A
  • Being transparent with fees
    -agreeing the scope of services and time
    -Understanding the clients needs and objectives
    -Ensure advising sufficiently not just issuing documents.
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21
Q

Can you explain how you promote trust in the profession?

A

Understand how my actions affect other and the environment,
Fulfilling my professional obligations
Acting in a trustworthy manner both in personal and professional life.
Speaking up when i suspect something is not in the public interest.

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22
Q

How can you maintain a high ethical standard in your profession

A
  • Keep my own action under review inside and outside of work
    -Maintain CPD and abide by my members obligations
  • Follow advise given by professional bodies
  • Noting and unethical behaviour and reporting to RICS.
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23
Q

What sort of things can employer do to create and ethical environment for their staff?

A

Establish confidential procedure for whistleblowing
Include ethical evaluation in performance appraisals
Include ethical standard in training and hiring
Encourage staff to progress their APC and carry out CPD in relevant areas

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24
Q

What is the difference between ethics and integrity?

A

Integrity in the internal quality of being honest and having strong moral principles/ doing the right thing.

Ethics is more external and applies to and organisations rules, regulations and code of conduct that have been created.

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25
Are there any tools to help you make an ethical decision?
RICS has produced and Ethic decision tree
26
What are the RICS rules for registering firms?
Rules for registering of firms document: - At least 25% of firms principals must be professionally qualified. -CHP with ADR -PI
27
In which circumstances are firms eligible to register for RICS?
Provide surveying services to the public and at least 25% of firms principals are professional qualified
28
When must a firm be registered for RICS?
Must be registered when providing surveying services to public and at least 50% of firms principal are RICS members.
29
What is a locum ?
A firm which has a sole principal must have in place an appropriate arrangements in the event the sole principal cannot work. A locum is another professional who is appointed to stand in for the surveyor if they are unable to work.
30
Who can be a locum?
Another chartered surveyor.
31
How does PI cover relate to locums?
Locums need to be covered for any work undertaken.
32
Can you accept a gift from your client or contractor?
They key is to consult the ethics decision tree and make an informed decision. Need to consider timing of the gift tor hospitality, proportionality, Consideration to whether it is going to impact me acting impartially.
33
If a contractor gave you £90 would you accept what if it was a book voucher?
No should not accept money ultimately that is still money.
34
What would you consider when assessing if gift or hospitality is appropriate to accept?
- the value - the timing -The proportionality -impact my ability to act impartially -Who is it being given to me or a group of us
35
Does you company have anything in place for gifts
Yes gifts and hospitality record sheet. If i was uncertain refer to ethical decision tree, discuss with directors record value and time of the gift offered.
36
What is CPD and what are the CPD requirement for charted surveyors? How can you determine if it is formal or informal?
20 hrs half is formal. must record this by 31st January Formal is structured has a specific learning objectives and outcomes and typically involvement in Q&A may be a seminar, professional training course. Informal is independent learning. There is a CPD decision tree.
37
How will you go about selecting CPD over the next 12 months?
Consider weak or limited areas to develop. Consider industry hot topics Consider future projects, knowledge i may need to execute my professional appointment.
38
Can you explain what a conflict of interest is?
Conflict of interested is a relationship or belief that will affect my ability to act impartially and my professional judgement will be compromised.
39
Has RICS published any information on conflict of interest?
Yes Conflict of interest professional standard.
40
Can you name the 3 types of conflict outline in the professional standard?
Party Conflict Personal conflict Confidential information conflict
41
What is a party conflict?
A situation in which the duty of an RICS member or firm acting in the interest of a client or party conflicts with the duty owed to another client or party
42
What is personal conflict?
Where my own interest of personal belief or personal relationship conflicts with the interests of my professional assignment.
43
What is confidential information conflict?
A conflict between the duty of an RICS member or regulated firm, to provide confidential information to a client and they duty to keep that information confidential to another.
44
Can you provide an example of a conflict of interest?
I completed a high level order of cost estimates for a client who was wishing to purchase a site which already had planning permission for a particular building. Another client called and and asked for advise ultimately to assess the level of return the could make. I advised this was a conflict of interest as had already provided confidential cost advise to another client on the same site.
45
What is informed consent?
Informed the client or whomever it may be of the conflict of interest they are ware of it existence and its implications but instruct the RICS member to proceed.
46
What should you do if you suspect a conflict of interest?
As soon as you become aware disclose in writing and detail the nature of the conflict.
47
You are instructed to work on a development that requires removal of the nature reserve but you have strong views on protecting the environment. what should you do?
Ask myself will it impact me acting impartially. Notify the client in writing Politely decline and offer to someone else who could provide the same service without the conflict of interest.
48
What is a bribe?
A reward offered or promised to gain some sort of advantage.
49
What is the bribery act 2012
Identifies bribery as illegal and identified 4 key offences - bribing another - being bribed - bribing a foreign public official -failing to prevent a bribe from occurring.
50
What are the 6 principles o the bribery act?
Proportionality - Action should be proportionate to the risk and size of organisation. Top level commitment - Those in senior positions are best placed to ensure the organisation conduct business without bribery. Risk assessment - Risk assessment to identify areas of possible bribery occurrences and risks. Due Diligence- Carrying out due diligence in identifying potential bribes. Communication- Communicate policies and procedures and additional training. Monitoring and review- monitor and review procedure to prevent bribe and make improvements.
51
What is you position for compliance with they Bribery act?
Must comply. Company has a anti- bribery and corruption policy Report any act of bribery to serious fraud office or national crime agency.
52
What are consequences of not adhering to bribery act?
10 years in prison unlimited fine Cease working
53
What is money laundering?
The concealment of illegally obtained money.
54
How do you report money laundering?
submit a suspicious activity report to the national crime agency
55
How long should anti money laundering record be kept?
Min of 5 years following completion of business relationship including customer due diligence documents.
56
You client asks you to pay the contractor for making interim payment to the contractor and gives you money in cash what do you do?
Do not accept, should be put into a bank account ( the bank then has responsibility to check the legitimacy of the cash) If concerned report it to NCA.
57
What is corruption?
The abuse of power for private gain.
58
What is price fixing cartel?
Collection of businesses of contractors working together to fix their prices.
59
What is terrorist financing?
The solicitation, collection or provision of funds with the intention to support terrorist acts or organisations.
60
What are the mandatory requirement for RICS members on bribery, corruption, money laundering...
Requirements are detail in the professional standard countering bribery, corruption and money laundering and terrorist financing.
61
What is modern slavery?
Illegal exploitation of people for personal or commercial gain.
62
Is there any legislation on modern slavery ?
Modern slavery act
63
What example of modern slavery?
- Forced labour, human trafficking, child slavery exploitation.
64
How would you report modern slavery?
Call modern slavery helpline or police.
65
What is Pi insurance?
Professional indemnity insurance. Protects the policy holder from financial loss in the event a claim is made against them due to a breach of professional duty.
66
Has RICS published any information on PI?
Yes RICS UK professional indemnity insurance requirements.
67
What is the difference between each and every claim and the aggregate.
Each and every claim up to that value. All claims must only total that value.
68
What is a fully retroactive PI policy?
That all work covered out by the firm is covered regardless of when the negligent act occurred.
69
What measures do you take to avoid PI claims?
Keep full and detailed records of meetings, conversations etc. Record of recommendation and advise given. Follow RICS professional standards Follow RIC Rules of conduct Follow company procedure and policies.
70
What are the min limited of indemnity for regulated firms?
Under Uk Professional indemnity insurance requirements identifies based on turnover T/O £100K or less £250k T/O£100 to £200k £500k T/O £200k above £1m
71
What is the max level of uninsured excess
£10m or less T/O £10,000 £10m or above no limit set
72
If you make a mistake what would you insurance company expect you to do?
-Notify them at the earliest opportunity - Comply with any condition set out in the insurance policy - Notify the client -Assess the level of mistake and take step for correcting.
73
A friend asks for you help on a house extension and ask for advise for free outside of business hours?
My firms PI would not cover me for private advise so I would politely decline. Potentially conflict of interest giving advise to a friend.
74
What is run off cover and how long should it be in place?
To protect after ceases to trade. Minimum of 6 years from the cessation of practice.

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