Ethics, Rules of Conduct and professionalism

Question 1

What is bribery?

Answer 1

Giving or receiving a financial or other advantage in exchange for the improper performance or a function or activity.

Question 2

What is the The Bribery Act 2010?

Answer 2

The Bribery Act creates a strict liability offence of failing to prevent bribery.

Under the Bribery Act, companies will be liable if anyone acting under its authority commits a bribery offence.

Such persons can include employees, consultants, agents, subsidiaries and joint venture partners.

Question 3

What are the 4 main offence under The Bribery Act 2010?

Answer 3

1. Take or receive a Bribe.
2. Offer a Bribe.
3. Bribing a Foreign Public Official.
4. Failure to prevent a bribe.

Question 4

In relation to bribery and corruption RICS-regulated firms must?

Answer 4

· Do not offer or accept, directly or indirectly, anything
that could constitute a bribe.

· Have plans in place to comply with applicable laws
governing bribery and corruption.

· Report any activity breaching anti-bribery and
corruption laws to the authorities.

· Undertaker period written evaluations of the risks the
Firm face regarding facilitation of bribery and
corruption.

· Retain records as to how the firm has met the r
requirements of the professional statement.

Question 5

In relation to bribery and corruption RICS members must?

Answer 5

· Do not offer or accept, directly or indirectly, anything
that could constitute a bribe.

· Have adequate knowledge of bribery and corruption
to comply with the professional statement.

· Report any activity relating to anti-bribery and
corruption breach to authorities or a senior manager.

Question 6

What should you do if you are offered a gift?

Answer 6

· Firms must keep a clear record of gifts and hospitality.
Called a Gift Register.

· Gifts should only be accepted when justifiable and
proportionate, timing and reciprocation.

Question 7

When should a firm have a whistleblowing policy?

Answer 7

Depending on size, it may be appropriate for RICS Regulated Firms to have a formal whistleblowing policy covering when and how employees should report concerns and how reports should be treated.

· Should be confidential
· Should be Separate from the normal chain of
command

Question 8

What is Money Laundering?

Answer 8

The concealment of illegally obtained money by moving it through banks, property and legitimate businesses.

Money laundering is the process of concealing the origin of funds produced by criminal activity.

Question 9

In relation to money laundering and terrorist financing RICS-regulated firms must?

Answer 9

· Not facilitate or be complicit in money laundering or
terrorist financing activities.

· Have systems in place to comply with relevant laws.

· Report any suspicions to the relevant authorities.

· Evaluate and review risks.

· Verify the identity of clients.

· Retain records as to how the firm has met the
requirements of the professional statement.

Question 10

In relation to money laundering and terrorist financing RICS members must?

Answer 10

· Not facilitate or be complicit in money laundering or
terrorist financing activities.

· Report any suspicions to the relevant authorities.

Question 11

What is a Politically Exposed Person (PEP)?

Answer 11

These people are high risk from a money laundering and corruption perspective as they hold positions of influence.

A correct approach to dealing with a PEP is to have a policy that enables a PEP to be detected on a risk basis. EDD should be applied to the PEP. Deeper assessment of transaction type and source of funds. Senior managers should be involved in decisions regarding PEPs.

Dealing with companies, the same principles should be applied if the beneficial owner of the company is a PEP.

Question 12

What is Rule 8 of the RICS Rules of Conduct for Firms?

Answer 12

A firm shall preserve the security of client money entrusted to their care in the course of practice or business.

Question 13

When handling clients money RICS members must?

Answer 13

· Hold the money in a client bank account (which the
firm has exclusive control over).

· Ensure the account only hold sums provided by the
client

· Do not hold office money in the account. Must be
separate from firm money or other client money.

· The bank account must include the word ‘client’ and
the name of the firm in the title of the account.

· Ensure money is immediately available (Even at the
sacrifice of interest).

· Given instructions to hold funds in a high interest
account with penalties for instant access, penalties are
only paid by the client with client consent and
provided this will not cause the account to go
overdrawn.

Question 14

What are the Client Money objective obligations for both RICS Members and Firms?

Answer 14

· Ensure money is kept safe
· Client money is used for appropriate purposes only.
· RICS regulated firms have appropriate controls and
procedures to safeguard client money.

Question 15

What is the RICS money protection scheme?

Answer 15

RICS Regulated firms that hold client money must ensure they are registered with the appropriate RICS scheme;

· RICS Client Money Protection Scheme for Surveying
Services, applies to RICS Regulated Firms in the UK.

· RICS Client Money Protection Scheme for Property
Agents, applies to letting agency and property
management work in England only.

Question 16

What are the requirements for RICS members handling clients money?

Answer 16

· Ensure compliance with all anti-money laundering
legislation, rules and regulations for all receipts of
client money.

· Ensure compliance with Mandatory requirements for
Countering Bribery and Corruption, money
laundering and terrorist financing RCIS Professional
statement.

· Follow all client money handling procedure for the
firm they work for.

· Do not override any controls in place to protect client
money.

· Disclose any risk of or actual misappropriation of
client money to a senior member of the firm and
record it.

Question 17

What information must be provided to clients in writing?

Answer 17

· Confirmation money will be held in a client account
including the account details.

· Advice to clients who pay fees in advance for
surveying services that the money is not covered by
the Client Money Protection Scheme.

· Disclosure of commissions earned while managing
their property.

· Disclosure of commissions earned while managing
their property.

· How unidentified funds are dealt with.

· A copy of the firms written procedures for handling
client money.

Question 18

What is a complaint?

Answer 18

An expression of dissatisfaction. Usually when expectations have not been met.

Question 19

How to deal with a Complaint?

Answer 19

· Allocate the complaint the appropriate person as per
Company CHP.

· Respond to the complaint within the timescales
detailed in the CHP.

· Investigate the complaint using the defined
procedures.

· Identify an outcome or route for closing the
complaint.

· Formally record the process.

· Communicate lessons learnt internally.

· Review at a pre-determined date in the future.

Question 20

What does Rule 7 of RICS’ Rules of Conduct for Firms state?

Answer 20

A firm shall operate a complaints handling procedure and maintain a complaints log. The complaints handling procedure must have an ADR mechanism approved by the regulatory board.

Question 21

What are the minimum requirements a firm must have?

Answer 21

1. All Firms should have CHP
2. Quick, Transparent and Impartially Implemented.
3. Appoint a person to carry out investigation.
4. Make info about CHP available to clients.
5. If Complainant still unhappy, they have the right to a
   separate review or mediation.
6. If Complainant still unhappy, they have the right to
   independent dispute resolution.

Question 22

How would you complain about a RICS Member or Firm?

Answer 22

Initially to the firm via the complaints handling procedure.

If no action, complain to the RICS.

Question 23

What can the RICS investigate if a complaint isn’t handled properly?

Answer 23

· Failure to use the CHP.  
· Conflicts of interest. 
· Misuse of client’s money.
· Negligence.
· Failure to answer correspondence.
· Convictions of a criminal offence.

Question 24

What is the 2 stages of CHP that RICS regulated firms must have?

Answer 24

· Consideration by the firm.
· Refer to an independent redress scheme (ADR /
Ombudsman) if not resolved.

Question 25

What is acknowledgement of complaint?

Answer 25

A defendant must acknowledge service within 14 days of receipt of the complaint.

Question 26

What is submission of defence?

Answer 26

A defence must be filed within 28 days of service of the Complaint, although the parties can agree an extension of up to 28 days (or long if the court agrees).

Question 27

What is without prejudice?

Answer 27

It is found at the head of legal correspondence, where its intention is render the contents inadmissible as evidence.

Question 28

What should an effective CHP have?

Answer 28

It should be fit for purpose - Reflect the size and structure of the business. Made available to all staff - A CHP is intended to provide clarity and consistency to staff and clients. Be understood by all staff - Keep records of staff training. Readily be shared - supplying them with a copy should be routine. Be regularly reviewed at senior level - Record evidence of the review, to include reviewer details and review date. Be agreed with PII brokers/providers - The CHP should reflect processes that do not compromise the PII cover. ADR - Provide details of access to an independent redress system if the firm can not resolve the complaint.

Question 29

What does the RICS Professional Statement say on | Conflicts of Interest?

Answer 29

RICS members or firms must not advise or represent a client where in doing so would involve a conflict of interest or a significant risk of a conflict of interest; other than where all of those who are or may be affected have provided their prior informed consent.

Question 30

Every RICS member or firm must?

Answer 30

· Identify and manage Conflicts of Interest in accordance with the professional statement. · Keep records of the decisions made in relation to whether to accept individual professional assignments, obtain Informed Consent, and any measures taken to avoid Conflicts of Interest.

Question 31

What are the Requirements for RICS Regulated Firms?

Answer 31

RICS firms must have effective systems and controls in place for the firm and employees to manage compliance regarding Conflicts of Interest. These systems must be appropriate for the size and complexity of the firm.

Question 32

What is Informed Consent?

Answer 32

Consent willingly given by a party who may be affected by a Conflict of Interest. The party must understand; A. That there is a Conflict of Interest or significant risk of a conflict of interest. B. The facts known by the RICS member or firm material to the Conflict of Interest. C. What the Conflict of Interest may be. D. The conflict of interest may affect the ability of the RICS member or firm to act fully in the interests of the client.

Question 33

In what instance may Informed Consent be sought?

Answer 33

Where the RICS member or firm is satisfied that proceeding despite a conflict of interest is; A. In the interest of all those who may be affected, and; B. Is not prohibited by law, and that the conflict will not prevent the member or firm from providing competent and diligent advise to those who may be affected.

Question 34

What is an information barrier (or Chinese wall)?

Answer 34

The physical and/or electronic separation of individuals (or groups) within the same firm that prevents confidential information passing between them.

Question 35

What is confidential information?

Answer 35

Confidentiality is a primary professional duty. The RICS Rules of Conduct expect a member to treat as confidential information relating to a client where the information becomes known as a result of that professional relationship and is not in the public domain.

Question 36

What must RICS members or firm do with confidential information?

Answer 36

2. 1. RICS members and firms must maintain confidentiality of Confidential Information unless disclosure is required by law, or the member or firm concerned can demonstrate that the relevant party consented to the disclosure before it was made. 2. 2. Every RICS member must provide to every client all the information that is material to that client's professional assignment of which the RICS member has knowledge.

Question 37

What are the 3 types of Conflicts?

Answer 37

1. Confidential Information Conflict A conflict between the duty of an RICS member or firm to provide a client with all information material to the clients instruction (2.2), and the duty of that RICS member or firm to another client to keep that same information confidential (2.1). 2. Own Interest Conflict A professional assignment conflicts with the interests of that same RICS member or firm. 3. Party Conflict A professional assignment conflicts with a duty owed to another client or party in relation to the same or a related professional assignment.

Question 38

What is RICS Rules of Conduct for Firms: Rule 9?

Answer 38

Professional Indemnity Insurance

Question 39

What is the purpose of PII?

Answer 39

· To ensure that if the firm faces a claim, it is protected from financial loss that it cannot meet from its own resources. · It protects the insured member or firm against the consequences of its liability to pay damages to third parties for breaches of professional duty that it commits through professional services. · Ensures the firms client's do not suffer financial loss, which the firm cannot meet.

Question 40

What are the RICS PII Standards?

Answer 40

· An 'each and every' claim basis. · RICS 'minimum policy wording' or comprehensive working · The minimum level of indemnity based on the firm's turnover in the previous year (or estimated for a new firm).

Question 41

What are the Minimum Level of Indemnity based on Firm Turnover in Previous Year?

Answer 41

£100,000 or less = £250,000 £100,001 - £200,000 = £500,000 £200,001 and above = £1,000,000

Question 42

What is the maximum level of uninsured excess (the part of each claim a firm must pay itself)?

Answer 42

Up to and including £500,000 = The greater of; 2.5% of the sum insured, or £10,000. Over £500,000 = 2.5% of the sum insured.

Question 43

Can an RICS regulated firm or member choose any PII available?

Answer 43

No - It must be underwritten by a listed insurer

Question 44

What is 'Fully Retroactive' cover?

Answer 44

· PII policies work on a 'Claims Made' basis. · Policy covers claims under the insurance regardless of when a negligent act occurred. · Policy retroactive date should read 'None' for all previous work to be covered.

Question 45

What employees does the PII need to cover?

Answer 45

All past and present Partners, Directors, Members and Employees to protect the firm and work carried out in the firms name.

Question 46

What is Run-off Cover?

Answer 46

Ensures that firms, members and their clients are not exposed to financial detriment in the period following a firm cessing to trade, RICS requires firms to obtain fully retroactive run-off cover.

Question 47

What is the run-off cover for consumer and non-consumer claims?

Answer 47

Consumer Claims · A limit of £1,000,000 in all for a period of six years from the expiry date of the policy. · Consumer = any natural person acting for the purposes outside of their trade, business or profession. Non-consumer Claims · The requirement is for firms to have adequate and appropriate run-off. · RICS would expect run-off to be a maintained for a minimum period of six years from the cessation of the practice.

Question 48

What is an Assigned Risk Pool (ARP)?

Answer 48

To ensure the availability of professional indemnity insurance (PII) the RICS has a market facility. The ARP is open to all UK RICS regulated firms that are unable to obtain PII, which meets the minimum requirements of the RICS, in the insurance market.

Question 49

When can you entering the ARP?

Answer 49

The RICS recommend any approach is made 14 days prior to the expiry date of your policy. You will then be required to submit the following to the ARP Manager: · Provisional Application Form · Proposal Form · Confirmed claims experience for the past six years · Details of any claim in excess of £25,000 · Expiry policy schedule (including details of broker commission) · Details of the insurers approached at renewal and evidence of declinature from your existing insurer. RICS would normally expect 10 insurers to have been approached.

Question 50

For what period does the ARP cover?

Answer 50

1. Full Period - provide terms on a 12 month basis on an aggregate plus unlimited round the clock reinstatement basis. 2. Provisional Period - (a minimum of 120 days) and the policy limit will be on an aggregate basis only (which means this is the total amount the policy will pay for all claims).

Question 51

What if the insurer does not provide run-off cover?

Answer 51

The RICS has a market facility, the Run-off Pool (ROP). The ROP is collectively underwritten by all RICS Listed Insurers and managed on behalf of insurers and the RICS by Miller Insurance Services LLP.

Question 52

What happened in the case law of Merrett vs. Babb?

Answer 52

Babb's firm overvalued Claimants house. The Claimant was entitled to pursue Babb personally after his firm became insolvent and compensate Merrett for her losses from his negligence.

Question 53

What are the five ethical standards?

Answer 53

Integrity - Act with Integrity. Trust - Act in a way that promotes trust in the profession. Responsibility - Take Responsibility. Service - Always provide a high standard of service. Respect - Treat others with respect.

Question 54

How can you act with integrity?

Answer 54

· Being trustworthy in all you do. · Being open and transparent in the way you work. · Respecting confidential information of your clients and potential clients. · Don't divulge information to others unless it is appropriate to do so. · Not taking advantage of a client, colleague, a third party or anyone to whom you owe a duty of care. · Not allowing bias, or conflict of interest or the undue influence of others to override your professional or business judgements and obligations. · Making clear to all parties a conflict of interest (or potential), arises between you or your employer and client. · Not offering or accepting gifts, hospitality or services which might suggest an improper obligation. · Acting consistently in the public interest when it comes to making decisions or providing advice.

Question 55

What behaviours or actions do you take to ensure you always provide a high standard of service?

Answer 55

· Be clear about what service your client wants and the service you are providing. · Acting within your scope of competence. If it appears that services required are outside that scope then be prepared to do something about it. Make it known to your client to obtain expert input or consultation. If you are unable to meet the service requirements, then explain you are not best placed to act for the client. · Be transparent about fees and any other costs or payments such as referral fees or commissions. · Communicate with your client in a way that will allow them to make informed decisions. · If you use the services of others then ensure that you pay for these services in the agreed timescale. · Encourage the firm or the organisation that you work for to put fair treatment of clients at the centre of its business culture.

Question 56

How do you act in a manner, both in your professional life and private life, to promote you, your firm or the organisation you work for in a professional and positive way?

Answer 56

· Promoting what you and the profession stand for - the highest standards globally. · Understand that being a professional is more than just about how you behave at work; its also about how you behave in your private life. · Understand how your actions can affect others and the environment and, if appropriate, questioning and amending that behaviour · Fulfilling your obligations. Doing what you say you will. · Always trying to meet the spirit of your professional standards and not just the letter of the standards.

Question 57

What behaviours or actions do you take to treat others with respect?

Answer 57

· Always be courteous, polite and considerate to clients, potential clients and everyone else you come into contact with. · Never discriminate against anyone for whatever reason. Always ensure that issues of race, gender, sexual orientation, age, religion, country of origin or disability have no place in the way you deal with other people or do business. · As much as you are able, encourage the firm or organisation you work for to put fair and respectful treatment of clients at the centre of its business culture.

Question 58

How do you take responsibility and be accountable for your actions?

Answer 58

· Act with skill, care and diligence. · If someone makes a complaint about something you have done, then respond in an appropriate manner and aim to resolve the matter to the satisfaction of the complainant as far as you can. · If you think something is not right, be prepared to question it and raise the matter as appropriate with your colleagues, within your firm or the organisation that you work for, with the RICS or with any other appropriate body or organisation.

Question 59

What are the 9 rules of conduct for members?

Answer 59

``` · Interpretation · Communication · Professional behaviour · Competence (skill, care and diligence) · Service (good standard of service) · CPD · Solvency · Information to the RICS · Co-operation with the RICS ```

Question 60

What are the CPD requirements for members?

Answer 60

· Minimum of 20 hours CPD each calendar year. · Of the 20 hours at least 10 must be formal CPD. The remainder can be informal CPD. · All members must maintain a relevant and current understanding of our professional and ethical standards during a rolling three year period. · Members must record their CPD activity online by the 31st January.

Question 61

What are the five Areas of Professional Conduct the RICS provide standards for?

Answer 61

``` · Rules of conduct · Ethics · Conflicts of Interest · Anti-money laundering, Bribery & Corruption · Client Money ```

Question 62

What are the RICS designations?

Answer 62

AssocRICS - Associate Members MRICS - Professional Members FRCIS - Fellows HonRICS - Honorary Members

Question 63

What are the five principles of better regulation?

Answer 63

``` · Proportionality · Accountability · Consistency · Targeting · Transparency ```

Question 64

What core material does the RICS publish for members and firms?

Answer 64

``` · International Standards and Professional Statements (Mandatory) · Practice Statements (Mandatory) · Guidance Notes (Voluntary) · Codes of Practice (Mandatory or Good Practice) · Information Papers (Hot topics) · Help Sheets · Consumer Guides ```

Question 65

What is the role of the RICS?

Answer 65

Promoting and enforcing highest international standards in the built environment profession.

Question 66

Who is the RICS president?

Answer 66

Kathleen Fontana

Question 67

When was the RICS established?

Answer 67

Established 1868

Question 68

What is their motto?

Answer 68

Est modus in rebus ("There is measure in all things")

Question 69

When was the royal charter granted and why is it important?

Answer 69

Granted Royal Charter in 1881 by Queen Victoria. Allows Self-regulation.

Question 70

What is the RICS Matrics?

Answer 70

A division of the RICS dedicated to trainees and chartered surveyors with less than 10 years' experience. Established in 1889 and named 'Matrics' in 2003.

Question 71

What is Modus?

Answer 71

Monthly Magazine issue providing professionals with in depth features, updates and advice across the surveying profession.

Question 72

Can you tell me about the RICS structure?

Answer 72

· Privy Council · Governing Council · Regulatory Board · Management Board

Question 73

What is the International Ethics Standards Coalition (IESC)?

Answer 73

· Established at the United Nations in 2014. · Comprises of 120 Professional bodies. · RICS a leading body and founding member.

Question 74

What are the Rules of Conduct for Firms?

Answer 74

``` · Interpretation. · Communication. · Professional Behaviour. · Competence (skill, care and diligence). · Service (good standard of service). · CPD to staff. · *Complaints Handling Procedure.* · *Clients Money.* · *PI Insurance with run-off cover.* · *Advertising (Truthful)* · Solvency · *Arrangements for incapacity or death of a sole practitioner.* · *Use of Designations.* · Information to the RICS as required. · Co-operation with the RICS. ``` *Five rules that are different for firms*

Question 75

What is the difference between an MRICS and FRICS | Member?

Answer 75

· Both are chartered surveyors · FRICS are leaders in their field or have made a special contribution to the profession.

Question 76

Why become MRICS? What are the Benefits?

Answer 76

· Global recognition · Elite professional status · Become part of an international professional community

Question 77

How will you contribute to the RICS once qualified?

Answer 77

· Promote best practices · Display competence · Promote RICS core values · Set a good example for graduates and help support their development and progress to being MRICS.

Question 78

How should you display / use the RICS logo?

Answer 78

· Minimal spacing around the logo the size of the capital R. · Do not change the colour or add any effects. · Do not draw boxes around the logo. · Do not distort the logo. · No use of TM versions in the UK. · Use minimum sizes for paper sizes.

Question 79

What services do RICS provide?

Answer 79

``` · ISurv - Online training · RICS Books - Book publications · BCIS - Cost information · Dispute resolution offering · Modus Magazine ```

Question 80

What are the RICS Bye Laws?

Answer 80

Bye Law 1 - Application and Definitions Bye Law 2 - Membership and Registration Bye Law 3 - Designations Bye Law 4 - Contributions to Funds Bye Law 5 - Conduct Bye Law 6 - Governing Council, Officers & Staff Bye Law 7 - Subordinate boards, Committees & Groups Bye Law 8 - Procedure for general meetings Bye Law 9 - Accounts & audits Bye Law 10 - General

Question 81

Name the professional groups / technical specialisms of the RICS?

Answer 81

``` There are 17 professional groups; · Building Control · Building Surveying · Commercial Property · Dispute Resolution · Environment and Resources · Facilities Management · Geomatics · Machinery and Business Assets · Management Consultancy · Minerals and Waste Management · Planning and Development · Personal Property/Arts and Antiques · Project Management · Quantity Surveying and Construction · Residential Property · Rural · Valuation ``` Professional groups are the way that RICS segments the various technical specialisms of the profession.

Question 82

What are the time periods if the RICS request information?

Answer 82

Provide information to the RICS within 90 days in accordance with Rule 41 to avoid fines.

Question 83

What are some hot topics / RICS news?

Answer 83

RICS Rules for Registration of Firms – Effective from 1st April 2020 – Requirement for a Responsible Principal Corona Virus – Effects on construction projects and contracts Brexit – UK exit of the European Union, Effects on Industry Fire Safety – Grenfell Tower / Hackitt Report Artificial Intelligence GDPR 2018 – Use of Client Data Surveying Safely 2018 – Mental Health Inclusion.

Question 84

What are the key roles of the RICS?

Answer 84

1. Regulate and promote the profession. 2. Maintain the highest professional standards. 3. Protect clients through strict codes of ethics. 4. Provide impartial advice, analysis and guidance.

Question 85

What is the meaning of a 'firm'?

Answer 85

· A company. · A limited liability partnership. · A partnership. · The unincorporated practice of a sole practitioner. · A practice which is the equivalent to any of the above in the part of the world in which it operates / is established. · A regulated practice division.

Question 86

What do you need to setup an RICS regulated practice?

Answer 86

1. Inform the Institution 2. Follow professional conduct 3. Procedures for Handling Clients Money 4. Take PI insurance 5. Establish a Complaints Handling Procedure 6. Follow advertising rules 7. Pay RICS registration fees 8. Avoid Insolvency

Question 87

What is the procedure for registration?

Answer 87

Application to register must: · Provide information to the RICS as prescribed by the regulatory board. · Agree that the RICS may share information about the firm with the government and other regulatory bodies. · Agree the RICS may publish any decision to decline your firms registration. A firms application can either be granted, granted with conditions or refused.

Question 88

When is a firm required to register with the RICS?

Answer 88

A Firm is required to register for regulation by RICS if; 1. The Firm provides surveying services to the public. 2. The Firm is operating in a 'Regulated Area A' (UK). 3. At least 50% of the firms principals are RICS members. RICS Members whom are Principals of a Firm required to register must take reasonable steps to ensure an appropriate application for RICS regulation is made for the Firm.

Question 89

When is a firm eligible to register with the RICS?

Answer 89

A Firm is eligible to register for regulation by RICS if; 1. The Firm provides surveying services to the public. 2. At least 50% of the firms principals are RICS members.

Question 90

What are a firms obligations after registering with the RICS?

Answer 90

Must take reasonable steps to ensure the Firm complies with Regulatory and Statutory obligations. Including; · Comply with the RICS 'Rules of Conduct for Firms'. · Act in accordance with RICS Royal Charter & Bye laws. · Inform the RICS Head of Regulation of any findings against the firm by; a court, statutory authority, disciplinary or regulatory body. · Inform the Head of Regulation of insolvency. · Inform the Head of Regulation of firm material change within 7 days of said change.

Question 91

What fees must an RICS regulated firm pay?

Answer 91

· Annual fees for registration set by the Regulatory Board. · Pay any other fees, or fines levied under disciplinary, registration and appeal panel rules.

Question 92

How may a firm be deregistered from the RICS?

Answer 92

Firms can apply to be deregistered. The Head of Regulation will deregister them with immediate effect. Head of Regulation may refuse, if a Firm has breached the rules of conduct for firms, has not paid due fees, or costs and fines form Disciplinary rules.

Question 93

What the role of a 'Responsible Principal'?

Answer 93

They must take reasonable steps to ensure the firm complies with Regulatory and Statutory obligations including; · Act as a primary regulatory contact for the firm. · Compliance with legal obligations. · Compliance with all RICS standards. · Compliance with requirements for RICS regulated firms. · Ensure information given to the RICS is truthful and adequate. · Ensure processes are in place to record failure to comply with RICS regulations and statutory obligations.

Question 94

Who can be the 'Responsible Principal' in a firm?

Answer 94

A Registered or Registering Firm must have a Responsible Principal at all times. A person being appointed as a Responsible Principle must satisfy Conditions A, B & C; A. The Head of Regulation is satisfied the person selected is appropriate for the role. B. Head of Regulation is satisfied that the person is able to influence the strategic objectives and significant decisions made by the firm. Or has delegated authority to do so. Or reports directly to someone who has the authority. C. The person must be an RICS MRICS member, or the non-MRICS person has sufficient experience and understanding of the Regulatory Compliance.

Question 95

What is your firms complaint handling procedure?

Answer 95

· Project Leader reports verbal or written complaint to Team Manager. · Team Manager informs the Partner responsible for the project. · Partner then informs the Office Managing Partner (OMP). · Partner and OMP then assess if they need to notify the Ridge PI Insurers. · Partner requests complainant to submit a formal written complaint. · Within 14 days, the Partner issues written acknowledgement of the complaint with the Ridge version of events. · Within 28 days, the Partner gives a full complaint response. · Partner conducts negotiation with OMP approval and PII approval if notified. · Negotiations are made on a 'without prejudice' basis (Contents of letter are inadmissible in a court case, nor used as a last word on the matter). · If a settlement cannot be agreed, Ridge can offer mediation. Both parties must agree to this, it is not compulsory. · If a settlement still cannot be agreed. The dispute goes to the Surveyors Arbitration.

Question 96

What is your firms gifts and hospitality procedure?

Answer 96

· Do not accept cash or loans from any clients, customers, applicants, contractors or suppliers in which you may have a contract during employment. · Gifts must be normal, justifiable and appropriate. · Always consider the intentions behind the gift. · Anything over £100 must be approved by the compliance officer. · Gifts cannot include cash or cash equivalents. · Gifts or entertainment over the value of £100 should be registered on the 'Gift Register' and approved by the compliance officer.

Question 97

What is your firms professional indemnity insurance?

Answer 97

· £1,000,000 Indemnity level. · Any one claim basis · Limit of £1,000,000 to any one claim · Turn over in 2019; in excess of £40m · Also provide PII cover of up to £20m for large projects. · Excess: £100,000.00 · Limitations: An annual cap of £10M in the aggregate exists for asbestos, pollution and contamination.

Question 98

What is your firms anti bribery policy?

Answer 98

· Do not give a bribe, accept a bribe or bribe a foreign official. · You must tell your manager as soon as possible if you believe that a conflict with this policy has occurred. · Any employee who breaches this policy will face disciplinary action, which could result in summary dismissal for gross misconduct. · If an individual is successfully prosecuted under the Act, they, partners and senior managers could face up to 10 years imprisonment and/or an unlimited fine.

Question 99

What are your firms Terms and Conditions (T&Cs)

Answer 99

· Services - Ridge will provide the agreed services with due care and skill. · Client Obligations - To provide decisions in a timely manner, provide information/documents in a timely manner, obtain any necessary licences to complete services, comply with CDM regs. · Payment Terms - Pay Ridge fees in accordance with agreed contract, Ridge will submit invoices monthly or at the timescales agreed in the contract. Final date for payment 17 days after the payment due date. · Variations - Ridge entitled to payment of additional fees for additional services outside of the agreed contract. · Client Money - Ridge will retain client monies in accordance with RICS members accounts rules. · Confidentiality - All information will remain confidential and only be used for the purposes of the agreed services. · Suspension and Termination - Ridge can suspend performance with written notice if the client fails to pay invoices, client can terminate contract providing all invoices are paid, either party should give one-months notice. · Complaints - If not amicably resolved, go to the Surveyors Arbitration.

Question 100

What is your firms Health, Safety and Wellbeing Policy?

Answer 100

· Maintain an accident frequency rate below industry average. · Increase all near miss reporting. · All technical staff to hold CSCS training. · Review competencies of Principal Designers. · Undertake annual meetings with Health and Safety Technical Group.

Question 101

What is your firms modern slavery act statement?

Answer 101

· Annual salary reviews undertaken by Partners · Annual review of Employers Conditions undertaken by Partners. · Ensure government legislation is complied with, particularly with regard to minimum wage for permeant employees and apprentices. · Undertake due diligence on suppliers and contractors and to ensure they also comply.

Question 102

What other insurances do your firm hold?

Answer 102

Employers Liability - £20,000,000 Public Liability - £20,000,000 Products Liability - £20,000,000