Ethics

Question 1

What is an example of a RICS bylaw?

Answer 1

Byelaw 5.1 - Members are firms must comply with the Rules of Conduct

Question 2

What is the purpose of the rules of conduct?

Answer 2

It sets a core standard for professional practise for members and firms

Question 3

What are the 5 pillars of the rules of conduct?

Answer 3

Honesty
Integrity
Competency
Service
Respect
Responsibility

Question 4

What do you do if you receive a Gift?

Answer 4

If you are doing work for the client and the gift is inappropriate you would decline.
You would check your firms anti bribery procedure and the RICS ethics decision tree.
If the gift is proportional- I would inform my manager and ensure it’s on the gift register

Question 5

What do you do if a client offers to pay for a building with cash?

Answer 5

Decline - you don’t know where this money has come from

Question 6

What do you do if a client pays for a service with cash

Answer 6

Accept

Question 7

What laws govern gift receiving?

Answer 7

Bribery Act 2010 and proceeds of crime act 2002

Question 8

Who is the president of the RICS?

Answer 8

Clement Lau

Question 9

Who is the CEO of the RICS

Answer 9

Richard Collins

Question 10

What is the structure of the RICS?

Answer 10

Pricy council
Governing council
Boards and committees (including finance committee)
Regional boards

Question 11

What is happening in the RICS

Answer 11

Lord Bichard review
Queens death
Cladding consultation

Question 12

What is the uk structure of the rics?

Answer 12

4 national associations
10 regional boards
Local associations

Question 13

What are the four levels of rics memberships

Answer 13

MRICS
FRICS
ASSOCRICS
TRAINEE/STUDENT

Question 14

What are the 6 principals of the anti bribery act 2010

Answer 14

1. Proportionality
   Top level commitment
   Risk assessment
   Due diligence
   Communication
   Monitoring

Question 15

What is a royal charter?

Answer 15

Oldest form of incorporation. Nowadays it is usually for charities and regulatory bodies

Question 16

What is a bye-law

Answer 16

A bye-law is a law made by a body and only applies in their area.

Question 17

What is the RICS background

Answer 17

Started in 1868
It has a royal charter granted by the privy council in 1881
Rics regulations and byelaws set out by the governance of the institution

Question 18

What are the 4 offences under the Bribery Act 2010

Answer 18

Bribing
Receiving a bribe
Failing to prevent a bribe
Bribing a foreign public official

Question 19

What do you need if setting up a firm?

Answer 19

Public liability, employee, building, contents, Vehicle and PI Insurance
License from OS for maps
Data protection measures
Complaints handling procedures
Computer systems
Health and safety policy
Bank accounts
Staff contracts

Question 20

Who do the rics rules protect

Answer 20

You
The public
Clients
Rest of the profession

Question 21

What is the current format of RICS rules?

Answer 21

Rules of conduct

Question 22

When were the Rules of conduct published

Answer 22

October 2021

Question 23

When did the rules of conduct come into place

Answer 23

2nd Feb 2022

Question 24

How much CPD is required after qualifying

Answer 24

20 hours
(48 for students)

Question 25

How are valuations regulated by the rics

Answer 25

Red book Registered valuers

Question 26

What counts as Clients’ money

Answer 26

Money from sales Money for fees Money from rent Money for bills etc

Question 27

How would you deal with a conflict of interest?

Answer 27

If it is deemed as small - identify conflict, check the clients on both side are in agreement If risk is large - Identify conflict Recommend a different surveyor or different firm Refer to Firms conflict of interest statement if in doubt

Question 28

What is deemed a conflict of interest

Answer 28

Acting on behalf of the same party Personal interest

Question 29

What did the new rules of conduct replace

Answer 29

Rules of conduct for firms Rules of conduct for members Global and ethical standards

Question 30

What act refers to money laundering

Answer 30

The Money Laundering, Terrorist Financing and transfer of fund regulations 2017

Question 31

Where is your nearest RICS office

Answer 31

Charlotte Square, Edinburgh

Question 32

Where is the UK RICS head office

Answer 32

Great George street, London

Question 33

What is the purpose of the Rics

Answer 33

Maintain the highest standards or eduction and trading Protect consumers Be the leading source of information on land and property matters

Question 34

Why do I want to be an RICS member

Answer 34

For the member status and ensuring I comply with the highest standards as a surveyor

Question 35

What is a surveyor

Answer 35

Somebody who manages land and properties across the UK and rest of the world in a sustainable and professional manor

Question 36

What can the rics do if you don’t comply with the rules of conduct

Answer 36

Serve a fixed penalty notice Revoke membership CPD sanctions Refer to disciplinary panel

Question 37

What is the UK legal system

Answer 37

High court Sherif court Justice of the peace court

Question 38

What rics bodies are available?

Answer 38

Lionheart Rics matrix Isurv Bcis

Question 39

What is civil law?

Answer 39

Deals with behaviour that constitutes an injury to an individual or private party

Question 40

What are regulations

Answer 40

Imposition of rules by government

Question 41

What is criminal law

Answer 41

Laws introduced by the Scottish government

Question 42

Types of conflict

Answer 42

Party conflict Own interest conflict Confidential information conflict

Question 43

How do you deal with a complaint

Answer 43

Firms should have a complaints policy. We don’t have this a business however I would speak to my manager and I would refer to the RICS complaints handling procedure

Question 44

How do you look after clients money

Answer 44

I follow the RICS client money handling document. Money should never be withdrawn, clients should be shown receipt of money and money should always be accounted for

Question 45

What checks might you do on a client

Answer 45

Copy of ID Confirmation of their business Where their business is registered

Question 46

What is PI insurance

Answer 46

Insurance to protect clients and firms against claims. For example if a valuation was incorrect

Question 47

How many members of a firm should be registered with the RICS

Answer 47

50% and with a principal

Question 48

What is rule 1 of the RICS

Answer 48

Members and firms must be honest, act with integrity, and comply with their professional obligations including those to the RICS

Question 49

What is rule 2

Answer 49

M+F must maintain their professional competence and insure services and provided by competent individuals who have the necessary expertise

Question 50

What is rule 3

Answer 50

Members and Firms must provide a good quality and diligent service

Question 51

What is rule 4

Answer 51

Members and firms must treat others with respect and encourage diversity and inclusion

Question 52

What is rule 5

Answer 52

Members 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

Question 53

What would you include in terms of business?

Answer 53

Fees Payment Vat Liability Indemnity Compliance Money laundering Data protection Confidentiality Complaints procedure Force majore

Question 54

What would you include in client terms for a sale?

Answer 54

Subjects Method Marketing Viewings Overview of expenses Staff Terms of business Money laundering