Ethics

Question 1

What does RICS stand for?

Answer 1

Royal Institution of Chartered Surveyors

Question 2

Who is the current President of the RICS?

Answer 2

Nicholas Maclean in place of Justin Sullivan.

Question 3

Summarise the structure of the RICS?

Answer 3

The Governing Council, then below those are the RICS Board and the Standards & Regulation Board.

Question 4

What is Royal Chartership?

Answer 4

A grant issued by the Monarch which gives a professional body official status and allows them to regulate their own members.

Question 5

What are the RICS Bye-Laws?

Answer 5

Rules which govern how the RICS must act as an organisation in line with its Royal Charter.

Question 6

What are the Rules of Conduct?

Answer 6

Standards of behaviour that RICS members and firms must adhere to to maintain public trust in the profession.

Question 7

List the Rules of Conduct?

Answer 7

1) Members and Firms must be honest, act with integrity and comply with their professional obligations, including obligations to RICS.

2) Members and Firms must maintain their professional competence and ensure that services are provided by competent individuals who have the necessary expertise.

3) Members and Firms must provide good-quality and diligent service.

4) Members and firms must treat others with respect and encourage diversity and inclusion.

5) 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 8

Provide an example of Rule 1?

Answer 8

I didn’t allow myself to be improperly influenced by the gift I received from a contractor.

Question 9

Provide an example of Rule 2?

Answer 9

I undertake CPD in subject areas relevant to my role as a Building Surveyor.

Question 10

Provide an example of Rule 3?

Answer 10

I agree with clients the scope of the service to be provided, any limitations and the timescales for the work to be completed.

Question 11

Provide an example of Rule 4?

Answer 11

I do not bully, victimise or harass anyone and would report someone that does.

Question 12

Provide an example of Rule 5?

Answer 12

I would report any significant breaches of the rules of conduct to the RICS.

Question 13

What is a Conflict of Interest?

Answer 13

A situation where an individual’s ability to perform their role is impaired or influenced by their involvement with another role or relationship.

Question 14

What RICS documentation applies to Conflicts of Interest?

Answer 14

RICS Conflicts of Interest Professional Standard

Question 15

What is Informed Consent?

Answer 15

Where all relevant parties are made fully aware of the potential conflict, understand its nature and possible implications, and agree to proceed despite it.

Question 16

What are the different types of conflict?

Answer 16

1) Party Conflict – Where a client appointment conflicts with the appointment of another client.

2) Own Interest Conflict – Where a client appointment conflicts with the interests of the RICS individual.

3) Confidential Information Conflict – Where a client appointment requires a RICS member to disclose information that they are required to keep confidential due to an appointment by another client.

Question 17

What’s an Information Barrier?

Answer 17

The physical or electronic separation of individuals within the same firm that prevents confidential information passing between them.

Question 18

What is Summers-Inman’s policy for checking for conflicts?

Question 19

What legislation covers Bribery in the UK?

Answer 19

The Bribery Act 2010

Question 20

What are the four main offences under the bribery act?

Answer 20

1. Bribing another person
2. Being bribed
3. Bribery of a foreign public official
4. Failure of a commercial organisation to prevent bribery

Question 21

What are the consequences for breaching the bribery act?

Answer 21

Penalties include unlimited fines and up to 10 years’ imprisonment for individuals.

Question 22

What RICS documentation is available for Bribery?

Answer 22

The Countering bribery, corruption, money laundering and terrorist financing professional statement.

Question 23

What are the responsibilities of RICS firms with regards to Bribery?

Answer 23

1. Not offer or accept a bribe
2. Have procedures in place to comply with Bribery legislation
3. Report any activity they are aware of that breaches anti-bribery and corruption laws to the relevant authorities

Question 24

What is money laundering?

Answer 24

Money laundering is the process of concealing the origins of illegally obtained money to make it appear legitimate.

Question 25

What legislation applies to money laundering?

Answer 25

Proceeds of Crime Act 2002 and the Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017

Question 26

What are the responsibilities of RICS firms with regards to money laundering?

Answer 26

1. Not facilitate or be complicit in money laundering or terrorist financing activities 2. Have systems and training in place to comply with these laws, and ensure these are followed 3. Report any suspicions of money laundering or terrorist financing activities to the relevant authorities

Question 27

Would you accept a gift from a client or contractor?

Answer 27

Yes, if it was proportionate to my relationship with them.

Question 28

How would you determine whether that gift is reasonable and proportionate?

Answer 28

The value and timing of the gift. For example, a gift under £50 during the Christmas period is quite commonplace within the UK. A gift in excess of this value during a tender period would raise concerns.

Question 29

How would you log a gift within your company?

Answer 29

I would email my line manager with details of the gift, the giftor and the date the gift was received.

Question 30

Why do you need to log gifts from Contractors?

Answer 30

To ensure transparency and protect myself and Summers-Inman from allegations of corruption or unethical behaviour.

Question 31

What are your CPD requirements as a candidate?

Answer 31

A minimum of 48 hours every 12 months, with at least 50% formal.

Question 32

Provide examples of some relevant topics you have undertaken CPD on?

Answer 32

RICS Qualification Package so E-Modules on all pathway competencies.

Question 33

What are your CPD requirements as a member?

Answer 33

A minimum of 20 hours every 12 months, with at least 50% formal.

Question 34

When must members complete CPD by?

Answer 34

CPD must be completed between 1st January and 31st December but you have until 31st January to record the completed CPD online.

Question 35

How often do you need to undertake CPD with relation to ethics?

Answer 35

Every 3 years.

Question 36

Why is it important to maintain professional competence?

Answer 36

To provide the highest levels of client care and to comply with the RICS rules of conduct.

Question 37

What is Professional Indemnity Insurance?

Answer 37

Professional indemnity insurance protects professionals against claims for loss or damage made by clients or third parties due to negligent advice, services, or designs.

Question 38

What other insurance might a surveyor need?

Answer 38

Public Liability Insurance and Employer's Liability Insurance

Question 39

What is Public Liability Insurance?

Answer 39

Covers injury or property damage claims made by third parties (e.g., if a client or passerby is injured during a site visit).

Question 40

What is Employer's Liability Insurance?

Answer 40

Covers employee injury or illness claims.

Question 41

Can you explain your understanding of the RICS Harris Debate?

Answer 41

The Harris Debate is an annual meeting to discuss ethical concerns in the field of surveying. The 2024 debate centred around the ethical use of AI in valuation practices.

Question 42

Summarise the process of setting up a new surveying business?

Answer 42

1. Produce a business plan, complaints handling procedure and CPD policy 2. Obtain relevant insurance 3. Register with the RICS and Companies House

Question 43

What are the minimum levels of indemnity insurance for RICS firms?

Answer 43

If the firm turns over £100,000 or less - £250k £100,001 to £200,000 - £500k £200,001 and above - £1,000,000

Question 44

Summarise the process of closing down a surveying business?

Answer 44

1. Inform staff and clients 2. Notify insurers and arrange run-off cover 3. Notify the RICS to de-regulate the company 4. Return any client money

Question 45

Why did you decline the opportunity to privately undertake a damp survey for your friend?

Answer 45

As I wouldn't have suitable insurance in place and would also be in breach of my employment contract with Summers-Inman.

Question 46

Why didn't you suggest undertaking the survey through Summers-Inman?

Answer 46

Summers-Inman don't undertake residential work which is why I recommended my friend use the RICS Find a Surveyor tool.