Ethics, rules of conduct and professionalism L1 Flashcards
L1 (106 cards)
1
Q
Why do you want to become a member of RICS?
A
A
2
Q
What is the role of RICS?
A
B
3
Q
What are the key functions of RICS?
A
C
4
Q
What is a Royal Charter?
A
D
5
Q
Who is the current RICS president?
A
E
6
Q
What do you understand by the term self-regulation?
A
F
7
Q
Can you tell me what you understand by the principles of better regulation?
A
G
8
Q
What is a Bye-Law?
A
H
9
Q
Give an example of one of the RICS Bye-Laws.
A
A
10
Q
Explain to me the new RICS Rules of Conduct - what do they replace?
A
B
11
Q
When do they take effect?
A
C
12
Q
Who do they relate to?
A
D
13
Q
What are the ethical principles that the Rules of Conduct are based on?
A
E
14
Q
What are the 5 Rules?
A
F
15
Q
Give an example behaviour for each.
A
G
16
Q
What are the core professional obligations of firms and members to RICS?
A
H
17
Q
What disciplinary procedures can the RICS impose?
A
A
18
Q
In what circumstances can these be imposed?
A
B
19
Q
When did RICS last update their disciplinary panel rules?
A
C
20
Q
What are the different levels of action within these procedures?
A
D
21
Q
What do you understand by the term professional practice?
A
E
22
Q
What money laundering regulations or legislation are you aware of?
A
F
23
Q
What is a red flag of money laundering?
A
G
24
Q
What bribery legislation are you aware of?
A
H
25
What is a bribe?
A
26
What are the penalties for accepting a bribe?
B
27
What are the penalties for being involved in money laundering?
C
28
What constitutes an offence under the Bribery Act 2010?
D
29
What constitutes an offence under the current money laundering regulations?
E
30
How long should you keep anti money laundering records for?
F
31
What is Professional Indemnity Insurance (PII)?
G
32
Can you tell me about the RICS requirements in relation to PII?
H
33
What is a PII aggregation clause?
A
34
What does ‘claims made’ mean in terms of PII?
B
35
Is a PII excess usually paid for per claim?
C
36
In a negligence claim what would help to show that you acted with consideration and due process?
D
37
Can good record keeping help to provide a defence in a PII claim?
E
38
If you were providing services outside of your usual scope to a client what might you need to do in relation to your PII cover?
F
39
What is run off cover?
G
40
What RICS requirements are there relating to run off cover?
H
41
What changes did RICS recently make to the Minimum Approved PII Wording?
A
42
Would a dictated report avoid the need to have any written site notes?
B
43
Explain PII requirements relating to fire safety cover and cyber cover.
C
44
How long can a PII claim arise after the work is undertaken?
D
45
What is the Assigned Risks Pool (ARP)?
E
46
Who might need to access the ARP?
F
47
Explain your understanding of the RICS Professional Standard Risk Liability and Insurance (1st Edition).
G
48
Explain when you might agree a liability cap.
H
49
How would set out third party reliance in Terms of Engagement?
A
50
What are the three key terms that should be considered from a risk
B
51
perspective in the context of every instruction you undertake?
C
52
What is an annual return?
D
53
Tell me what you understand about Complaints Handling Procedures (CHP)
E
54
When and how can the RICS be involved in a complaint about a firm or member?
F
55
Can you tell me about the CPD requirements for members of RICS?
G
56
Why is CPD important?
H
57
Tell me about the RICS’ guidance on dealing with Conflicts of Interest.
A
58
What is double dipping (dual agency)?
B
59
Why is double dipping (dual agency) an unacceptable practice?
C
60
How would you close down a regulated firm?
D
61
What can you tell me about RICS guidance relating to bribery corruption or money laundering?
E
62
What status does it hold?
F
63
What are some of the key principles of this guidance?
G
64
What must/should firms/members do to comply with the guidance?
H
65
What are the current RICS rules for registration of firms?
A
66
Who is a ‘qualified member’ of RICS?
B
67
What is a phoenix firm?
C
68
When must a firm register for regulation?
D
69
What are the registration eligibility criteria?
E
70
Who is a Responsible Principal?
F
71
What happens if a firm cannot comply with the eligibility criteria?
G
72
What are the rules around use of the RICS logo and ‘Regulated by RICS’ designation?
H
73
Tell me about the restrictions to the use of the designation ‘Chartered Surveyors’ by firms.
A
74
What must be included in ToE relating to firm regulation?
B
75
What is a locum and who might need one?
C
76
How could a sole trader set up their CHP using a locum?
D
77
What RICS guidance relates to handling client money?
E
78
When was this last updated?
F
79
What do the RICS Rules of Conduct say about client money?
G
80
Explain your understanding of the RICS Scheme Rules relating to client money protection.
H
81
What are the main schemes available to firms?
A
82
When were these last updated?
B
83
What is the current compensation limit?
C
84
What does the annual regulatory review fee relate to?
D
85
What might client money include?
E
86
How does this differ to office money?
F
87
What are some of the key principles of the RICS Professional Standard
G
88
relating to client money protection?
H
89
Explain the key themes from the RICS Futures 2020 Report.
A
90
Explain the potential implications of the Hart v Large case.
B
91
Explain your understanding of precedent set in Burgess v Lejonvarn.
C
92
What do RICS set out as good practice for the use of social media in their Regulation document (June 2021)?
D
93
Explain your understanding of the RICS Levitt review.
E
94
What is whistleblowing?
F
95
What does good governance mean to you?
G
96
Explain what the Pandora Papers are and the ethical issues raised within them.
H
97
Explain what you understand by the RICS Bichard Review.
A
98
Explain some of the recommendations of the Bichard Review.
B
99
How will these recommendations be implemented by RICS?
C
100
How do professional integrity and professional ethics differ?
D
101
What is modern slavery and how would you identify red flags of it?
E
102
Explain the implications of the Sanctions and Anti-Money Laundering Act 2018.
F
103
What is the Sanctions List and why should you be aware of it?
G
104
Why was the Register of Overseas Entities introduced?
H
105
What are the six RICS values published as a result of the Levitt review?
A
106
Explain the impact of the Economic Crime (Transparency and Enforcement) Act 2022
B
