Ethics

Question 1

If you passed next week and you decided to set up a firm - what would you do?

Answer 1

Inform RICS using Firms Details Form

Register with Regulatory Board

If handling clients money - Members Accounts Regulations

Arrange professional indemnity insurance

If doing Red book vals then register VRS

Complaints Handling Procedure - elect surveyor from other firm is sole practitioners

Succession/ future running if sole

Question 2

What are the core values?

Answer 2

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

Question 3

Tell me what you know about the RICS

Answer 3

Formed in 1868 and now in 150th year

Present structure is created by agenda of change 1998

Has a royal charter granted by privy council

Privy council are advisors to the monarch

It is self regulated through bye laws

Question 4

What is the role of the RICS?

Answer 4

Maintain high standards of education and training

Protect customers through strict regulation

Leading sauce of information and advice

Question 5

What are the benefits of being RICS

Answer 5

Market advantage 
Networking 
Recognition 
Knowledge 
Status 

Gives clients confidence

Question 6

What are the 5 principles for better regulation?

Answer 6

PACTT

Proportionality 
Accountability 
Consistency 
Targeting - forbidden 
Transparency

Question 7

What are the disciplinary actions?

Answer 7

Action by head of regulation
Disciplinary panel
Appeal panel

Question 8

What are the rules of conduct for members?

Answer 8

ECSCPDSIC

Ethical behaviour 
Competence
Service
CPD
Solvency 
Information to the RICS
Co-operation

Question 9

What are the rules of conduct for firms?

Answer 9

PCSCPDCCP

Professional Behaviour 
Competence 
Service
CPD and training 
Complaints handling 
Clients money
Indemnity

Question 10

What are the levels of PII cover?

Answer 10

< 100,000 = 250k
100,001 - 200,000 = 500k
200,001> = 1m