Ethics Flashcards
(36 cards)
What are the RICS rules of conduct?
a. Be honest, act with integrity and comply with their professional obligations.
b. Maintain their professional competence and ensure that services are provided by competent individuals.
c. Provide good quality and diligent service.
d. Treat others with respect and encourage diversity/inclusion.
e. Act in the public’s interest, take responsibility for their actions and act to prevent harm and maintain public confidence in profession.
What are ethics?
Moral values that govern a persons behaviour when conducting an activity.
What classifies as a breach to a code of conduct?
a. When a member or firm acts in a way that breaches the ethical principles that are outlined in the rules.
b. Dishonest, not complying with professional obligations (CPD).
What is the difference between behaving ethically and behaving professionally?
a. Ethics are moral principles which govern a person’s behaviour when conducting an activity.
b. Professionalism is the competence or skill that is expected of a professional.
What changes came about with the new rules of conduct?
a. Rules for firms and members consolidated into one.
b. Emphasis on diversity and inclusion.
c. Focus on sustainability.
What does behaving ethically mean to you?
a. Acting with integrity, honestly and fairly. Aligning actions with professional standards and moral values.
What does behaving professionally mean to you?
a. Demonstrating competence, accountability and respect in my work. Representing myself and my profession.
What are the RICS professionalism standards?
a. Adhere to the codes of conduct.
b. Comply with CPD requirements.
c. Cooperate with RICS fully, provide information that is reasonably requested by the standards and regulation board.
What are the professional obligations of firms?
a. Public complaints handling procedure, includes alternative dispute resolution provider approved by RICS, maintains a complaint log.
b. Ensure previous and current work is covered by adequate and appropriate PI cover.
c. Firms with sole principal must plan for their work to continue in the event of their absence.
d. Cooperate with the RICS.
e. Provide information requested by standards and regulations board.
f. Display RICS literature - accordance with RICS published policy on designations.
g. Report any matter to RICS they are required to under rules of conduct.
What is the structure of RICS?
a. Founded in 1868.
b. Self-regulated and internally monitored (not by government).
c. Governing council set and agree strategy.
d. Standards and Regulation board set byelaws to determine how RICS is regulated.
e. Regulatory board, standards and regulation board, audit committee, and management board are beneath the governing council.
f. They execute the strategy.
Who is the president of RICS?
Justin Sullivan stood aside in March 2025.
Nick Maclean is acting president
RICS CEO?
a. Justin Young.
How has RICS been in the news recently?
In March 2025, RICS President Justin Sullivan stepped aside after a High Court judge criticized his role as an expert witness in a legal dispute over a £32.5 million moth-infested mansion. Nick Maclean has assumed the role of acting president pending an independent review .
What is CPD and why is it important?
Allows to stay up to date with latest standards.
Stay competent.
And learn new skills.
What are the CPD requirements?
a. Members - 20 hours a year, 10 hours of which are formal.
b. Applicants - 48 hours per year, 24 of which are formal.
What insurances are needed for RICS firms?
a. Professional indemnity insurance.
b. Public liability insurance.
c. Employer liability insurance.
d. Building / office space insurance.
What is required to start an RICS firm?
a. Comply with the code of conduct.
b. Have a complaints handling procedure.
c. PII.
d. To cooperate with RICS and provide information when requested.
What is PII?
a. Provides financial cover to client in the event of a financial loss as a result of a breach in professional duty.
What are the PII thresholds?
Firms’ turnover in preceding year Minimum limit of indemnity:
£100,000 or less £250,000
£100,001 to £200,000 £500,000
£200,001 £1,000,000.
Why is RICS important within the industry?
a. Sets and upholds global standards of professionalism, ethics, and competence.
b. Ensures confidence in the industry.
Why do you want to be an RICS chartered surveyor?
a. Provide confidence to clients in my ability as a surveyor.
b. Be part of, and have the backing of a professional organisation that is acknowledged worldwide, and for their high ethical working standards.
c. Place myself at the forefront of shaping the built environment, and make meaningful contributions.
What is bribery?
Bribery is the act of giving or receiving something of value to influence someone’s actions unfairly.
What is fraud?
What act and what punishments?
Intentional deception to secure unfair or unlawful gain.
Fraud act 2006 (fine up to £10,000 or imprisonment up to 10 years).
What is the relevant legislation pertaining to bribery?
a. The Bribery Act 2010.
b. Makes it an offence to pay, or receive a bribe, either directly or indirectly.
c. Unlimited fine, or imprisonment up to 10 years.
