Level 3 - Conduct rules, Ethics and Professional Practice Flashcards

Question

N29. What is the APC?

Answer 1

• The Assessment of Professional Competence is a period of structured training followed by a Final Assessment Interview.

Answer 2

• Graduate Route 1 which requires: o An accredited degree. o Plus 2 years industry experience. o And diary. • Graduate Route 2 which requires: o An accredited degree. o 5 years industry experience. o 1 year diary. • Graduate Route 3 which requires: o An Accredited degree. o 10 years industry experience. o Submission. • Academic route which requires: o Portfolio. o 3000 word submission. o Continued Professional Development. o Final Assessment Interview.

Answer 3

* 0 to 4 years experience. * 2000 word summary of experience. * 2000 word case study. * 24 hours CPD. * Completion of Online ethics course.

Answer 4

• A benevolent fund dedicted to providing support and financial aid to current and past members and their families.

Answer 5

* I will attend RICS events. * Become and APC supervisor. * Respond to Surveys and Consultations. * Promote the profession * Participate in a leaders forum

Answer 6

Yes, I would like to help others develop to become members of RICS, particularly in the FM pathway.

Answer 7

• Must be MRICS for three years, plus a 1 day training course.

Answer 8

* To Advise a candidate on the most appropriate route and competencies. * Offer guidance, support and encourage candidates. * Evaluate candidates structured training. * Guide candidates through the Submission.

Answer 9

* International Recognition from clients and peers. * Competitive Advantage. * A known level of professional standards. * Quality assurance to my clients. * Access to information and training resources.

Answer 10

• A suite of best practice guidance notes and technical standards for Quantity Surveying and Construction professionals

Answer 11

• Mandatory rules and Practice guidance for Valuation Surveyors.

Answer 12

* Proportionality. * Accountability. * Consistency. * Targeting. * Transparency.

Answer 13

• The Better Regulations Commission.

Answer 14

* Ethics are a moral principle and value. * Rules are the framework we work to.

Answer 15

5 standards: STIRR: * Always provide a high level of **service**. * Act in a way that promotes **trust** in the profession. * Always act with **integrity**. * Always take **responsibility**. * Always show **respect** to others.

Answer 16

* Ensuring that clients and those you have a responsibility over receive the best possible advice and support. * Providing clarity on what the client wants, and what you are offering. * Acting within your scope of confidence. * Being transparent about fees.

Answer 17

* **Acting** in a manner to promote you and the organisation you work for and the profession in a **professional** way. * **Promoting** what the profession stands for. * Understanding that this should be reflected within your **personal life**. * **Fulfilling obligations**, doing what you say you will do. * Meeting the spirit of the standards, not just the words.

Answer 18

* Being **trustworthy**. * Being Open and **transparent**. * Not taking advantage of those whom you have a **duty of care**. * Not allowing bias or a **conflict of interest** to override business judgement. * Not offering or accepting **gifts**. * Acting consistently in the **public interest**.

Answer 19

* Being accountable for your actions and not blaming others. * Always act with skill, care and diligence. * Where complaints are made against you, respond in an appropriate and professional manner to aim to resolve the issue. * If you don’t think something is right be prepared to raise the matter with the appropriate person.

Answer 20

* Being courteous, polite and considerate to others. Also being aware of culture sensitivities. * Never discriminate. * Encourage the firm to work in a fair and respectful manner.

Answer 21

• They provide a framework we can all work to, whilst ensuring a Client understands exactly the service they should be receiving.

Answer 22

Seven main rules of conduct + Plus Two general rules Nine in Total (See RICS Rules of Conduct for members - March 2020)

Answer 23

1. Interpretation. (GENERAL) 2. Communication. (GENERAL) 3. Ethical Behaviour. 4. Competence. 5. Service. 6. Continued Professional Development (CPD). 7. Solvency. 8. Information to RICS. 9. Co-operation.

Answer 24

• Fifteen See - 'Rules of Conduct for Firms' (Version Seven, 2 March 2020)

Answer 25

1. Interpretation. (GENERAL) 2. Communication.(GENERAL) 3. Professional Behaviour. 4. Competence. 5. Service. 6. Training and Continued Professional Development. 7. Complaints handling. 8. Clients' money. 9. Professional Indemnity Insurance/cover. 10. Advertising. 11. Solvency. 12. Arrangements for Incapacity or death of an owner. 13. Use of Designations. 14. Information to RICS 15. Co-operation with RICS.

Answer 26

* Verify the facts, then politely remind them of their duties as a member of the RICS. * If they persist I would write to the RICS Head of Regulation and inform them.

Answer 27

RICS Head of Regulation may: * investigate any accusations. * refer the matter to the disciplniary panel for consideration * Impose a fixed penalty * make a regulatory compliance order * refer the matter to a single member of regulator tribunal if a breach of Rule 6 CPD.

Answer 28

* Complaints to the RICS. * Allegations by Clients/Third Parties.

Answer 29

* Fixed Penalty notice * Regulatory Compliance Order made by the Head of Regulation

Answer 30

An order imposed by Head of Regulation * caution * reprimand * a requirement that the Regulated Member give one or more undertakings as to future conduct * a requirement that the Regulated Member take or stop taking certain actions within a specified period of time * conditions on the Regulated Member’s continued membership of RICS * conditions on a Firm’s registration for regulation * a requirement that the Regulated Member pay a fine in accordance with the provisions of the published Sanctions Policy * a requirement that the Regulated Member pay costs to RICS in accordance with published scales

Answer 31

10.1 A Fixed Penalty is a caution and/or a fine payable by the Regulated Member for a breach of the rules. A Fixed Penalty is only applicable to a breach of the following rules: * Rules of Conduct for Members, Rule 6 – Continuing Professional Development (CPD) * Rules of Conduct for Members, Rule 8 – Information to RICS * Rules of Conduct for Firms, Rule 14 – Information to RICS * Rules for the Registration of Firms, Rule 10.1a – Fees.

Answer 32

* gross, persistent or wilful failure to comply with an RICS Rule of Conduct * fraud, dishonesty or a lack of integrity * conviction of a serious criminal offence (an offence for which the penalty could be a custodial sentence) * gross incompetence or recklessness in relation to the conduct or management of professional activities * persistent and/or serious failure to cooperate with RICS * breach of a required undertaking previously given to RICS, or failure to give an undertaking without reasonable excuse * deliberate discrimination * gross mismanagement of finances * misappropriation of clients’ money * third breach of Rule 6 of the Rules of Conduct for Members within 10 years of receipt of a caution for breach of the same Rule

Answer 33

* I would decline, as because I have been targeted directly, it could be seen as trying to impair my judgement. * If the gift was directed at the company as a whole, I would secondly consider the timing, i.e. will I be awarding any sub-contracts soon, which this could be seen as influencing. * Finally, I would consider the proportionality of the gift, i.e. is it proportional to our business relationship. * I would also record any gifts I receive within the business register.

Answer 34

• Receive emails from: * the RICS * IWFM * Building magazine * Construciton Manager * MHCLG - Ministry of housing, commmunities & local Gov

Answer 35

* Politely decline. * I wouldn’t want to attend anything that may compromise my impartiality. * If they insist then I would pay my own costs.

Answer 36

• When someone in a position of trust has competing personal or professional interests, making it difficult from them to fulfil their duties impartially.

Answer 37

* Follow RICS rules of conduct and ethical standards * Keep full detailed records of meetings and conversations * Do not advise if the advise required is outside my field of experience.

Answer 38

• Sign underhand whenever possible.

Answer 39

• Conduct not inline with the Global Professional Ethical Standards. • Such as: o Dishonesty. o Criminal convictions. o Acting improperly in a conflict of interest situation.

Answer 40

Preconditions: * Offer proffessional services * Have at least 25% MRICS qualified principles * Agree to comply with RICS rules of conduct Process: * Fill out the RICS firm details form (online) * Have Professional Indemnity Insurance. * Pay fees for registering. * Have a procedure for Handling Clients Money. * Have a Complaints Handling Procedure in Place. * Have a process to ensure staff are adequately trained.

Answer 41

* 20 hours CPD, of which 10 is formal. * Maintain relevant understanding of the RICS ethics. * Record CPD activities online by 31/01

Answer 42

• An exchange of value for an improper cause.

Answer 43

• The UK Money Laundering Regulation 2007.

Answer 44

• Anybody in the regulated sector.

Answer 45

• Put in place systems to stop money laundering.

Answer 46

* Secretive Client. * Not knowing where the money is coming from. * Paying in a special way, i.e. cash.

Answer 47

• Money Laundering Guidance 2011.

Answer 48

• Ask them to pay the cash into an online bank account then transfer the money, as paying in cash could be seen as tax evasion.

Answer 49

The Bribery Act 2010.

Answer 50

* Up to 10 years in prison. * Unlimited fine.

Answer 51

1. Proportionate Procedures = Companies should have procedures to prevent bribes. 2. Top Level Commitment = Senior Management committed to stopping bribes. 3. Risk Assessments = Assess a companies risks to bribes. 4. Due Diligence = Performing due diligence on individuals who will perform services on behalf of an organisation. 5. Communication = Training employees on how to identify a bribe. 6. Monitoring and Review = Reviewing and improving procedures.

Answer 52

1. Giving. 2. Requesting. 3. Offering. 4. Receiving.

Answer 53

* Bribing a public official. * Facilitation payments. * Failing to prevent a briber by a commercial organisation.

Answer 54

a small bribe known as a ‘grease payment’ or a ‘speed payment’ typically solicited to facilitate or expedite the performance of a routine transaction or service to which the person or company making the payment _is legally entitled to receive._ In a bribe - not legally entitled to receive.

Answer 55

An institute is an organisation to advance the study of a particular subject. An Institution is an organisation that exists to serve a public purpose.

Answer 56

RICS has 3 main roles: • To maintain the highest standards of education and training • To protect consumers through strict regulation and professional standards • To be the leading source of information and independent advice on land, property, construction and associated environmental issues.

Answer 57

To become a Fellow you must provide the following to the RICS Fellow Assessment Board: • Provide evidence of senior management and professional responsibility • Proof of the significant contribution you have made to the profession • A portfolio of professional achievement to include your CPD record.

Answer 58

RICS Requirements * Comply with the RICS rules of conduct for firms. * Notify the RICS – let them know by completing an RICS firm details form. * PII – have in place adequate PII and send certificate to RICS. For new firms, PII is based on estimated turnover. * Register with RICS. * Be Regulated by the RICS – RICS will let you know if you need to be regulated by them once they receive your notification of a firm form. * Client’s Money Obligations – i. Separate account. ii. With ‘client’ in title. * Complaints Handling Procedure – have in place a CHP, record a complaints log, appoint a complaints handling officer, if sole practitioner this is a surveyor from another firm. * Staff Training and Development – RICS CPD requirements, establish a training programme to ensure staff are trained and competent.

Answer 59

• No cash payments in excess of £10K euros is to be accepted • Requires companies to appoint an MLRO • Employees should report any suspicious activity to the MLRO who can investigate • Firms should have in place money laundering training to educate staff 3 x due dilligence checks: * Customer DD * Simplified DD * Enchanced DD

Answer 60

* Acting for another person with competing interests at the same time, for example acting for the buyer and the seller of a property. * You have obligations or pressures that detract or affect your relationship with the client, for example acting as an expert witness where you or your firm has an interest in the outcome of proceedings. * You are faced with conflicting duties owed to different clients, for example acting for 2 or more parties competing for an opportunity.

Answer 61

* Provides Building Running Costs and Life Cycle Evaluator tool * Launched global inductry code of practice for transparency and consitency [**'Procurement of facility management'**](https://www.rics.org/globalassets/rics-website/media/upholding-professional-standards/sector-standards/real-estate/procurement-of-fm---update-dec-2020.pdf) and ['strategic FM framework'](https://www.rics.org/globalassets/rics-website/media/upholding-professional-standards/sector-standards/real-estate/strategic-fm-framework-1st-edition-rics.pdf)

Answer 62

* [Clients’ Money Protection Scheme.](https://www.rics.org/uk/upholding-professional-standards/standards-of-conduct/client-money/cmp-scheme/) * This is a free service provided to clients of RICS-regulated firms. * Is an insurance policy to cover client’s direct loss of funds due to a firm regulated by the RICS. * All regulated firms who hold clients' money pay a regulatory review fee on an annual basis.

Answer 63

* RICS Regulation is administered by the RICS Regulatory Board, which is chaired by a non-member of RICS to demonstrate that our regulation of members is independent and at arm's length from the interest of our members. * The Regulatory Board meets regularly to decide policy on regulatory matters and oversee implementation of the regime. It is responsible to RICS Governing Council for its decisions. * The Assigned Risk Pool and the Conduct and Appeals Committee also help in regulating the profession. * Stephen Haddrill - Chair of the Global Regulatory Board

Answer 64

The main purpose of the Management Board is to direct RICS affairs under delegated authority from Governing Council. The Board is comprised of non-members (independent), members of RICS, and RICS Executives.

Answer 65

**Chair, Dame Janet Paraskeva** The Standards and Regulation Board has exclusive responsibility for strategy, policy and operational oversight of the standards, entry and admission to the profession (through RICS' education and qualification standards), and regulatory functions of RICS.

Answer 66

A committee consisting of members of the board of directors, charged with overseeing the entity's system of internal control over financial reporting, internal and external auditors, and the financial reporting process. Members typically must be independent of management. ## Footnote **Chair - TBC**

Answer 67

* Nominations committee * Presidential nominations committee * Remuneration committee * Finance committee * World regional boards * Market advisory panel

Answer 68

a rule made by a company or society to control the actions of its members * Membership and registration * Designations * Contributions to funds * Conduct * Governing council, officers and staff * Subordinate boards, committees and groups * Procedure for general meetings * Accounts and audit * General

Answer 69

* **RICS Rules of Conduct for Members and Firms** - These _Rules_ set out the standards of professional conduct and practice expected of members and firms registered for regulation by RICS. * **International standard** - High-level _standard_ developed in collaboration with other relevant bodies. * **RICS professional statement (PS)** - _Mandatory_ requirements for RICS members and RICS-regulated firms * **RICS guidance note (GN) -** A document that provides users with _recommendations_ or an approach for accepted good practice as followed by competent and conscientious practitioners. * **RICS code of practice (CoP)** - A document developed in collaboration with other professional bodies and stakeholders that will have the status of a professional statement or guidance note - _mandatory_. * **RICS jurisdiction guide (JG**) - This provides relevant local market _information_ associated with an RICS international standard or RICS professional statement. T

Answer 70

An **Independent Review** commissioned by RICS following the publication of a number of articles which alleged that the RICS had tried to **suppress a critical internal report** into its finances and then **unfairly dealt with** those who had sought to explore the issue

Answer 71

Tina Paillet

Level 3 - Conduct rules, Ethics and Professional Practice Flashcards

(96 cards)