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RICS - Residential Pathway APC > Ethics, Rules of Conduct and professionalism > Flashcards

Ethics, Rules of Conduct and professionalism Flashcards

1
Q

When was the Royal Institution of Chartered Surveyors established?

A

1868

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2
Q

When did the Royal Institution of Chartered Surveyors received a royal charter?

A

1881

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3
Q

What is Rule 1 of the RICS Rules of Conduct?

A

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

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4
Q

What is Rule 2 of the RICS Rules of Conduct?

A

Members and firms must be competent and hold the necessary knowledge and skills when completing a task.

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5
Q

What is Rule 3 of the Rules of Conduct?

A

Members and firms must provide a high level of service and act with due diligence.

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6
Q

What is Rule 4 of the RICS Rules of Conduct?

A

Members and firms most promote diversity and inclusion.

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7
Q

How many members does the RICS have?

A

Over 137,500 members and trainee members.

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8
Q

Who is the current president of the RICS? (2023)

A

Ann Gray FRICS

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9
Q

What are the three main roles of the RICS?

A
  1. To maintain the highest standards of education and training.
  2. To protect consumers via strict regulation and professional standards.
  3. To be the leading source of information and independent advice.
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10
Q

What are the four levels of RICS membership?

A
  1. Student / trainee
  2. Associate member (AssocRICS)
  3. Member (MRICS)
  4. RICS Fellow (FRICS)
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11
Q

How do you become a member of the RICS?

A
  1. RICS-accredited degree and relevant experience.
  2. 5 or more years and any bachelors degree.
  3. 10 years of relevant experience, operating at an advance level by seniority, specialisation, or in academia.
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12
Q

What are the six principles of the Bribery Act 2010?

A
  1. Proportionality;
  2. Top-down level commitment;
  3. Risk assessment;
  4. Due diligence;
  5. Communication; and
  6. Monitoring/review.
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13
Q

What are the four offences under the Bribery Act 2010?

A
  1. To be bribed;
  2. To offer a bribe;
  3. To bribe a foreign official; and
  4. To not report a bribe.
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14
Q

What are the penalties under the Bribery Act 2010?

A

Individuals- up to 10 years imprisonment and/or unlimited fines

Company- unlimited fines (and reputation damages)

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15
Q

What are the “musts”, stipulated within the RICS’ ‘Countering bribery, corruption, money laundering and terrorist financing’ (February 2019)- for Firms

A

Anti-bribery & anti-corruption
1. Not to accept a bribe/be complicit in corruption;
2. Report instances of bribery and corruption; and
3. Have plans in place that comply with relevant legalisation relating to bribery and corruption.

Anti-money laundering and anti-terrorist financing
1. Not to be complicit in money laundering and terrorist financing;
2. Carry out basic identity checks to verify the identity of a client;
3. Have systems and training in place to comply with the professional statement’s requirements; and
4. Record and retain records to evidence the Firm meets the requirements of the professional statement.

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16
Q

What are the “musts”, stipulated within the RICS’ ‘Countering bribery, corruption, money laundering and terrorist financing’ (February 2019)- for Members

A

Anti-bribery & anti-corruption
1. Not to accept a bribe/be complicit in corruption;
2. Report instances of bribery and corruption; and
3. Have an adequate knowledge of bribery and corruption.

Anti-money laundering and anti-terrorist financing
1. To not be complicit in money laundering or terrorist financing; and
2. Report instances of money laundering and terrorist financing.

17
Q

Who governs the Bribery Act 2010?

A

The Serious Fraud Office

18
Q

Who governs the Money Laundering Regulations (Amended) 2017?

A

National Crime Agency

19
Q

Who does the Money Laundering Regulations (Amended) 2017 apply to?

A
  1. Those buying/selling property and other business assets;
  2. Those holding client money;
  3. Those who open/manage bank accounts on behalf of clients; and
  4. Letting agents who let a property worth €10,000pcm or more
20
Q

What are the penalties under the Money Laundering (Regulations) 2017?

A

Those who are found to tip-off-
Unlimited fines and/or up to 5 years imprisonment.

Those found to be directly complicit-
Unlimited fines and/or up to 14 years imprisonment.

21
Q

What are the nine protected characteristics set out within the Equality Act 2010?

A
  1. Sex
  2. Gender reassignment
  3. Marriage/civil partnership
  4. Age
  5. Disability
  6. Religion or belief
  7. Pregnancy and maternity
  8. Race
  9. Sexual orientation
22
Q

What is a protected characteristic?

A

Where evidence suggests; an individual characteristic which statistically suffers from higher levels of discrimination.

23
Q

What are the “shoulds”, stipulated within the RICS’ ‘Countering bribery, corruption, money laundering and terrorist financing’ (February 2019)- for Firms

A

Anti-bribery and anti-corruption
1. Hold a written policy, which discusses anti-bribery and anti-corruption;
2. Have appropriate systems and governance in place; and
3. Encourage transparency (via a Gift Policy/Register)

Anti-money laundering and anti-terrorist financing
1. Hold a written policy, which discusses anti-money laundering and anti-terrorist financing;
2. Provide suitable, reoccurring training for staff;
3. Have appropriate systems and governance in place; and
4. Keep suspicions of money laundering and terrorist financing confidential.

24
Q

What are the “shoulds”, stipulated within the RICS’ ‘Countering bribery, corruption, money laundering and terrorist financing’ (February 2019)- for Members

A
25
Q

What are the benefits of RICS Regulation?

A

Confidence
Professionalism
Security

26
Q

How do you register to become an RICS Regulated Firm?

A
  1. Inform the RICS
  2. Complete the ‘RICS Firm’s Details’ form
  3. Complete the registration via the RICS Firms Portal
27
Q

When is a Firm eligible to be Regulated by the RICS?

A
  1. Professional services in surveying disciplines are provided; and
  2. 25% or more of the Firm’s Principals are RICS Members.
28
Q

When must a firm apply for RICS Regulation?

A
  1. Where professional services in surveying disciplines are provided;
  2. The Firm is located in the UK; and
  3. 50% or more of the Firm’s Principals are RICS Members
29
Q

What must RICS Regulated Firms do?

A
  1. Have a RICS-compliant Complaints Handling Procedure;
  2. Ensure previous/current work is covered by suitable PII;
  3. Make appropriate arrangements for professional work to continue, in case of incapacity/death;
  4. Cooperate with the RICS;
  5. Promptly provide all reasonably requested information to the RICS;
  6. Denote they are regulated by the RICS; and
  7. Report any matter they are required to report under the Rules for the Registration of Firms
30
Q

What must RICS Members do?

A
  1. Comply with CPD requirements (20 hours; minimum of 10 hours formal);
  2. Cooperate with the RICS; and
  3. Provide all reasonably requested information to the Standards and Regulations Board.
31
Q

Who manages RICS Disciplinary Procedures?

A

The Standards and Regulations Board

32
Q

What are the three levels of RICS disciplinary action?

A
  1. Action by Head of Regulation;
  2. Disciplinary Panel; and
  3. (If applicable) Appeal panel.
33
Q

What actions can the Head of Regulation initiate?

A
  1. Serve a Fixed Penalty;
  2. Create a Regulatory Compliance Order;
  3. Refer the matter to the Disciplinary Panel; and
  4. Refer the matter to the relevant member of the Regulatory Tribunal for consideration.
34
Q

What is the Disciplinary Panel?

A

Used for more serious breaches; the Disciplinary Panel consists of laymen (e.g., non-members) individuals

35
Q

How do you become a Fellow of the RICS?

A
  1. Be a Member of the RICS;
  2. Have an up to date CPD record; and
  3. Show how your career demonstrates four out of the 12 professional characteristics:
    - Champion
    - Expert
    - Influencer
    - Role Model
36
Q

What actions can the Disciplinary Panel take?

A
  1. Issue a Regulatory Compliance Order;
  2. Reprimand;
  3. Impose Fine (unlimited - per each breach);
  4. Impose conditions upon future RICS registrations; and
  5. Expulse

the Disciplinary Panel can publicise results of the hearing in the RICS Modus magazine, RICS Website and in the local newspaper where the individual operates

37
Q

What is the UK structure of the RICS?

A
  1. Four National Associations;
  2. 10 Regional Boards; and
  3. Local Associations

RICS - Residential Pathway APC (3 decks)

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