Ethics, Rules of Conduct and Professionalism

Question 1

When was the RICS founded?

Answer 1

1868

Question 2

Who granted the RICS the Royal Charter in 1881?

Answer 2

Privy Council

Question 3

How many levels of membership does RICS have?

Answer 3

4 Levels: FRICS, MRICS, AssocRICS, Trainee/Student

Question 4

What are the four fellowship characteristics required to become a fellow of RICS?

Answer 4

• Five or more years at MRICS
• Leadership role
• Professional achievement
• Academic achievement or raising the profile of RICS

Question 5

How is RICS currently governed?

Answer 5

Under the terms of its Royal Charter, by international councils and boards

Question 6

What is the role of the Governing Council in RICS, how many members are there in the council?

Answer 6

Runs the RICS, currently has over 20 members

Question 7

What boards report to the Governing Council?

Answer 7

• Standards and Regulation Board
• Management Board

Question 8

What is the primary role of RICS?

Answer 8

• To promote and enforce the highest professional qualifications and standards in the development and management of land, real estate, construction and infrastructure (RICS, 2020)

Question 9

Who is RICS accountable to?

Answer 9

Both members and the public

Question 10

What are the main roles of RICS (MPI)?

Answer 10

• Maintain the highest standards of education and training
• Protect consumers through strict regulation of professional standards
• Be the leading source of information and independent advice on land, property, construction, and associated environmental issues

Question 11

What was the purpose of the Bichard Review?

Answer 11

To clarify the purpose of RICS, including its responsibility to act for the public advantage

Question 12

How many recommendations did the Bichard Review make?

Answer 12

36 recommendations in 7 key areas

Question 13

What is one of the key areas of focus from the Bichard Review?

Answer 13

Renewed focus on the public interest

Question 14

True or False: The Bichard Review recommended maintaining self-regulation through greater independence for regulatory functions.

Answer 14

True

Question 15

Fill in the blank: The Bichard Review emphasizes increased focus on _______ and inclusion across the profession.

Answer 15

[diversity]

Question 16

What does the Bichard Review suggest regarding RICS governance?

Answer 16

Undertaking an independent review of governance and effectiveness every five years

Question 17

What type of governance structure does the Bichard Review recommend?

Answer 17

A new simplified, clear, accountable governance structure

Question 18

What societal issues does the Bichard Review suggest RICS should show greater leadership on?

Answer 18

• Sustainability
• Climate change

Question 19

What are the RICS Future Foundations published in November 2023?

Answer 19

Five Future Foundations following the Bichard Review.
These foundations guide the vision, mission, strategic goals, and values of RICS.

These foundations guide the vision, mission, strategic goals, and values of RICS.

Question 20

RICS Future Foundations 2023
What is the vision of RICS?

Answer 20

A natural and built environment that is sustainable, resilient and inclusive for all

Question 21

RICS Future Foundations 2023
What is the mission of RICS?

Answer 21

Inspire members, advance knowledge, uphold standards

Question 22

RICS Future Foundations 2023
List the strategic goals of RICS (LASE).

Answer 22

• Lead and influence on sustainability
• Attract a diverse next generation
• Strengthen trust in the profession
• Enhance member value and engagement

Question 23

RICS Future Foundations 2023
What are the values of The RICS?

Answer 23

• Professional
• Collaborative
• Inclusive
• Ambitious

Question 24

RICS Future Foundations 2023
What defines RICS as a World Class Organisation?

Answer 24

An efficient, effective and inspiring professional body that is easy to do business with

Question 25

What are the benefits of being an RICS Member? (SRAKN)

Answer 25

* **S**tatus – Unrivalled client confidence * **R**ecognition – Promotion of professional excellence * Market **A**dvantage – Competitive Advantage from RICS status * **K**nowledge – Access to international practice standards * **N**etwork – Access to professionals worldwide

Question 26

What is the RICS rule regarding the regulation of firms, which firms can/must be regulated?

Answer 26

RICS Rules for the regulations of firms (2022) If 50% of principles of a firm are members, then the firm must be regulated; minimum 25% to apply

Question 27

What must be nominated to ensure RICS compliance?

Answer 27

RICS Rules for the regulations of firms (2022) Responsible Principal

Question 28

When did the new RICS rules for regulations of firms come into effect?

Answer 28

April 2020

Question 29

What information is required by the RICS for Registration?

Answer 29

1. Type of business 2. Name of the Responsible Principal 3. Regulated activities 4. Nature of clients 5. CHP details 6. PII details 7. Whether the firm holds clients money

Question 30

What are the RICS Rules of Conduct 2021?

Answer 30

Rules apply to members and firms, with 5 rules introduced and 12 supporting case studies

Question 31

What is the first rule in the RICS Rules of Conduct?

Answer 31

Members and firms must be honest, act with integrity and comply with their personal obligations, including obligations to the RICS

Question 32

Fill in the blank: Members must maintain _______ competence.

Answer 32

professional

Question 33

What does the third rule of RICS Rules of Conduct state?

Answer 33

Members and firms must provide good-quality and diligent service

Question 34

What is the fourth rule in the RICS Rules of Conduct?

Answer 34

Members and firms must treat others with respect and encourage diversity and inclusion

Question 35

True or False: Members of RICS must act in the public interest and take responsibility.

Answer 35

True

Question 36

What is rule 5 in the RICS Rules of Conduct 2021

Answer 36

Members and firms must act in the public interest, take responsibility for their actions and act to prevent harm and maintain public confidence in the profession

Question 37

What is rule 2 in the RICS Rules of Conduct?

Answer 37

Members and firms must maintain their professional competence and ensure that services are provided by competent individuals who have the necessary expertise