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

Ethics, Rules of Conduct and professionalism Flashcards

(37 cards)

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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

Study These Flashcards
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?

Study These Flashcards
A

The Serious Fraud Office

18
Q

Who governs the Money Laundering Regulations (Amended) 2017?

Study These Flashcards
A

National Crime Agency

19
Q

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

Study These Flashcards
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?

Study These Flashcards
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?

Study These Flashcards
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?

Study These Flashcards
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

Study These Flashcards
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

25
What are the benefits of RICS Regulation?
**C**onfidence **P**rofessionalism **S**ecurity
26
How do you register to become an RICS Regulated Firm?
1. Inform the RICS 2. Complete the ‘RICS Firm’s Details’ form 3. Complete the registration via the RICS Firms Portal
27
When is a Firm **eligible** to be Regulated by the RICS?
1. Professional services in surveying disciplines are provided; and 2. 25% or more of the Firm’s Principals are RICS Members.
28
When **must** a firm apply for RICS Regulation?
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
What **must** RICS Regulated Firms do?
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
What **must** RICS Members do?
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
Who manages RICS Disciplinary Procedures?
The Standards and Regulations Board
32
What are the three levels of RICS disciplinary action?
1. Action by Head of Regulation; 2. Disciplinary Panel; and 3. (If applicable) Appeal panel.
33
What actions can the Head of Regulation initiate?
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
What is the Disciplinary Panel?
Used for more serious breaches; the Disciplinary Panel consists of laymen (e.g., non-members) individuals
35
How do you become a Fellow of the RICS?
1. Be a Member of the RICS; 2. Have an up to date CPD record; and 2. Show how your career demonstrates four out of the 12 professional characteristics: - Champion - Expert - Influencer - Role Model
36
What actions can the Disciplinary Panel take?
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
What is the UK structure of the RICS?
1. Four National Associations; 2. 10 Regional Boards; and 3. Local Associations

RICS - Residential Pathway APC (3 decks)

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