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Ethics > RICS Ethical Standards and Rules of Conduct > Flashcards

RICS Ethical Standards and Rules of Conduct Flashcards

1
Q

What are the 5 RICS Ethical Standards?

A
  • Act with integrity
  • Always provide a high standard of service
  • Act in a way that promotes trust in the profession
  • Treat others with respect
  • Take responsibility

The new global standards aim to provide clarity and simplicity around what is expected from RICS
members.

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2
Q

What does it mean to Act with Integrity?

A
  • be honest and straightforward in all that you do

- transparency

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3
Q

Give an example of when you have acted with integrity both as a professional and in your personal life?

A

At work - I do not offer or accept gifts which could constitute as a bribe and I am familiar with my company’s gifts and hospitality policy

Personal life - I consider myself to be an honest person in my personal life and feel this is an important characteristic in everyday life

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4
Q

What does it mean to Always provide a high standard of service?

A

This means always ensuring that your client, or others to whom you have professional responsibility, receive the best possible advice, support or performance of the terms of engagement you have agreed.

  • Act within your scope of competence
  • Be clear about your scope of service
  • Be transparent about fees
  • Effective communication
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5
Q

Give an example of when you have provided a high standard of service as a professional and in your personal life?

A

At work - I always act within my scope of competence and seek specialist advice for any matters outside of this scope

Tailoring cost reports to meet the client’s needs

Personal life -

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6
Q

What does it mean to act in a way that promotes trust in the profession?

A

This means acting in a manner, both in your professional life and private life, to promote you, your firm or organisation you work for and the profession in a professional and positive way

  • Promote what you and the profession stand for
  • Understand that its about how you act in your personal life too
  • Understanding how your actions impact others
  • Fulfilling your obligations
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7
Q

Give an example of when you have acted in a way that promotes trust in the profession as a professional and in your personal life?

A

At work - by providing a high standard of service I gained the client’s trust so that they are happy to continue asking for my advice

Personal life - I will often chat about work with friends and family and will always speak very highly of the profession and what we stand for

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8
Q

What does it mean to treat others with respect?

A

This means treating people with courtesy, politeness, and consideration, no matter their race, religion, size, age, country of origin, gender, sexual orientation or disability. It also means being aware of cultural sensitivities and business practices

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9
Q

Give an example of when you have treated others with respect as a professional and in your personal life?

A

At work - I always treat others with respect no matter what their personal characteristics in both my professional and personal life

Work example - project team meeting

Personal example - Family wedding

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10
Q

What does it mean to take responsibility?

A

This means being accountable for all your actions – don’t blame others if things go wrong, and if you suspect something isn’t right be prepared to do something.

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11
Q

Give an example of when you have taken responsibility as a professional and in your personal life?

A

At work - whenever I formally issue documents to clients, I always ensure I adhere to my company’s quality assurance procedures

  • I take responsibility for timeframes when I make a commitment to a client

At home - I take responsibility by paying my bills on time, budget my finances

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12
Q

What are the RICS Rules of Conduct for Members?

A

Part 1 – General Interpretation

  1. General Interpretation
  2. Communication

Part 2 – Personal & Professional Standards

  1. Ethical Behaviour
  2. Competence
  3. Service
  4. CPD
  5. Solvency
  6. Information to RICS
  7. Co-Operation
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13
Q

What are the RICS Rules of Conduct for Firms?

A

Part 1 – General Interpretation

  1. General Interpretation
  2. Communication

Part 2 – Personal & Professional Standards

  1. Professional Behaviour
  2. Competence
  3. Service
  4. Training & CPD
  5. Complaints Handling
  6. Client’ Money
  7. Professional Indemnity Insurance

Part 3 – Firm Administration

  1. Advertising
  2. Solvency
  3. Arrangement to cover incapacity or death of sole practioner
  4. Use of designations
  5. Information to RICS
  6. Co-Operation
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14
Q

Which of the rules is most appropriate to you?

A
  • All equally important, but ETHICAL BEHAVIOUR as this encompasses everything
  • Pivotal to role
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15
Q

What rules must be breached to be punished with a fixed penalty?

A
  • Rule 6 (Training & CPD) and Rule 8 (Information to RICS) – Member
  • Rule 14 (Information to RICS) - Firms
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16
Q

What are the 5 Principles of Better Regulation?

A

(PACTT)
1. Proportionality
• Regulator(s) should only intervene when necessary
• Remedies in place for risks

  1. Accountability
    • Regulator(s) must be able to justify their decisions and be subject to scrutiny to promote complete fairness.
    • Explain how and why key decisions have been made by a firm
  2. Consistency
    • Regulator(s) must adopt a common-sense approach and that rules and standards must be joined up and implemented fairly.
    • Firms and members should follow principles and self-regulated
  3. Targeting
    • Regulator(s) should focus on the problem and minimise side effects
    • Adopt “goals” based approach
  4. Transparency
    • Regulator(s) should be open and keep regulations simple and user friendly
    • Should be clearly defined and effectively communicated to all interested parties
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17
Q

Why are there now only 5 standards instead of the previous 12 ethical values?

A

Cover everything the previous 12 did, but do so in a much clearer way and they have been designed to be applicable globally

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18
Q

How do the professional and ethical standards link with the RICS conduct for members & firms?

A
  • They go hand in hand
  • Both are to “Act with Integrity”
  • Professional & ethical standards go into more detail
  • Not meeting requirements on both can lead to investigation and possible disciplinary action
  • All members must meet high standards
  • Both promote Trust to the public
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19
Q

Why is ethics important?

A
  • Ethical standard go to the core of what being a professional is all about
  • Heart of profession
  • Distinguishes professionals from others in the market place
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20
Q

Do we have a duty of care to the public?

A
  • RICS has a responsibility to protect the public by ensuring its members operate to the highest ethical standards.
  • This is upheld by the 5 professional standards
  • H&S also applies
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21
Q

How do you go about providing excellent client care services?

A
  • Understand client objectives
  • read and understand client appointment document and scope of services
  • Understand client’s preferred communication methods / frequency
  • CSS / KPIs
  • Quality assurance on all documents
  • Treat client money as if it were your own
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22
Q

What’s the difference between Ethics & Rules?

A 
Ethics = Are Moral principles
Rules = Are Frameworks to work to
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23
Q

What is the RICS Decision Tree?

A

Should be used when faced with a difficult ethical decision, allows RICS members and firms to decide whether to proceed or not to proceed

Considers:

  • Would you be content for your actions to be made public? (embarrassment test)
  • do you have significant information?
  • Is it legal?
  • Does it align with the RICS global professional and ethical standards?
  • Have you consulted the correct people?
  • Have you carried out a risk assessment?
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24
Q

What other ethical standards are you aware of?

A
  • International Ethics Standards
  • establish ten global ethics principles for professionals operating in the natural and built environment sector
  • Established by a coalition comprised of 120 professional bodies (RICS was a founding member)
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25
Q

Why have the RICS introduced new professional ethical standards?

A
  • the RICS undertook an extensive consultation to understand how the professional and ethical standards would work best on a global scale
  • extensive consultation with experts from ethics
  • RICS Governing Council agreed new standards, supporting information, advice and guidance to assist members and to make those difficult ethical decisions
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26
Q

What guidance might you refer to to help you learn the standards in more detail?

A
  • Supporting levels of information available for each standard including:

1) Explanation of what standards mean
2) Examples of the types of actions and behaviours
3) A range of case studies illustrating each of the standards

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27
Q

What if there is a conflict between my company’s ethical standards and the RICS ethical standards?

A
  • Apply whatever the higher test is so you ensure the highest ethical standards
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28
Q

Explain rule 1 of the Rules of Conduct for Members?

A

Interpretation

Defines that a member means a chartered / non-chartered / honorary member or a member of the attached classes

29
Q

Explain rule 2 of the Rules of Conduct for Members?

A

Communication

Defines how RICS will contact members

30
Q

Explain rule 3 of the Rules of Conduct for Members?

A

Ethical behavior

How members should act

  • act with integrity
  • avoid conflicts of interest
  • avoid situations inconsistent with their obligations
31
Q

Explain rule 4 of the Rules of Conduct for Members?

A

Competence

Members to carry out their professional work with due skill, care and diligence considering the standards expected of them

32
Q

Explain rule 5 of the Rules of Conduct for Members?

A

Service

Carry out your work in a timely manner considering standards of service and customer care

33
Q

Explain rule 6 of the Rules of Conduct for Members?

A

Continuing Professional Development (CPD)

Comply with RICS requirements

34
Q

Explain rule 7 of the Rules of Conduct for Members?

A

Solvency

Members to ensure their personal and professional finances are managed appropriately

35
Q

Explain rule 8 of the Rules of Conduct for Members?

A

Information to RICS

Submit information within a timely manner which the standards and regulation board might require

36
Q

Explain rule 9 of the Rules of Conduct for Members?

A

Cooperation

Members shall cooperate fully with RICS staff / any person appointed by the standards and regulations board

37
Q

Explain rule 1 of the Rules of Conduct for Firms?

A

Interpretation

Defines ‘firm’ and ‘contact officer’ as well as what it means to ‘provide a surveying service to the public’

38
Q

Explain rule 2 of the Rules of Conduct for Firms?

A

Communication

Describes how RICS will contact a firm

39
Q

Explain rule 3 of the Rules of Conduct for Firms?

A

Professional behavior

A firm shall at all times act with integrity and avoid conflicts of interest

40
Q

Explain rule 4 of the Rules of Conduct for Firms?

A

Competence

A firm shall carry out its work with due skill, care and diligence with regards to professional standards

41
Q

Explain rule 5 of the Rules of Conduct for Firms?

A

Service

A firm shall carry out its work with regard to the standards of service and customer care expected of it

42
Q

Explain rule 6 of the Rules of Conduct for Firms?

A

Training and CPD

Have in place the necessary procedures to ensure all staff are properly trained and competent to carry out their work

43
Q

Explain rule 7 of the Rules of Conduct for Firms?

A

Complaints handling

Operate a CHP and maintain a complaints log (which should include a mechanism for ADR approved by the standards and regulations board)

44
Q

Explain rule 8 of the Rules of Conduct for Firms?

A

Clients’ Money

Ensure the security of clients’ money entrusted to its care from carrying out business

45
Q

Explain rule 9 of the Rules of Conduct for Firms?

A

Indemnity

Ensure that all previous and current professional work is covered by adequate and appropriate indemnity cover which meets the standards of the Standards and Regulations Board

46
Q

Explain rule 10 of the Rules of Conduct for Firms?

A

Advertising

A firm shall promote its professional services only in a truthful and responsible manner

47
Q

Explain rule 11 of the Rules of Conduct for Firms?

A

Solvency

A firm shall ensure that its finances are managed appropriately

48
Q

Explain rule 12 of the Rules of Conduct for Firms?

A

Arrangements to cover the death or incapacity of a sole practioner

A firm which has a sole principal shall have in place appropriate arrangements in the event of that sole principal’s death or incapacity

49
Q

Explain rule 13 of the Rules of Conduct for Firms?

A

Use of designations

A firm registered for regulation must display on its business literature a designation to denote that it is regulated by the RICS

50
Q

Explain rule 14 of the Rules of Conduct for Firms?

A

Information to RICS

Issue information in a timely manner to RICS about its activities and other information it should require

51
Q

Explain rule 15 of the Rules of Conduct for Firms?

A

Cooperation

A firm shall cooperate fully with RICS staff

52
Q

How does the RICS define a firm?

A

the whole or part of any body corporate or

  • a partnership or
  • a limited liability partnership or
  • an unincorporated practice of a sole practitioner concerned with the business of surveying or providing other related services, which is regulated by RICS or
  • an equivalent in any of the world regions to any of the above in a–d.
53
Q

What are the Rules of Conduct for Firms? (List of 15) 6 C’s PAPAS SIIU

A 
SIX C's
Communication
Competence
Cooperation
CPD
Client's money handling procedure
Complaints handling procedure
PAPAS
PI insurance
Advertising
Professional Behaviour
Arrangements to cover death of sole practitioner
Service
SIIU
Solvency
Interpretation
Information to RICS
Use of designations
54
Q

5 Principles of Better Regulation and what do they mean?

A
  1. Proportionately - to intervene only when necessary
  2. Accountability - take responsibility to justify decisions
  3. Consistency - adopt common and consistent approach to implement regulations fairly
  4. Targeting - target the issue itself to minimize the problem directly
  5. Transparency - keep regulations clear, simple and user friendly
55
Q

How would you define ethical behaviour for a chartered surveyor?

A

Being open and honest

Promoting trust

Act within 5 global and ethical standards

56
Q

What factors does the RICS Decision Tree consider?

A 
Facts
Legality
Ethical standards
Consultation of appropriate people
Clear reasoning
Impact if actions made public
57
Q

Why are the ethical standards important?

A

Create a clear and streamlined guide to members to ensure that clients and anyone else who deals with the RICS has confidence in the profession

58
Q

What is the 9 rules for members? ICCCC HISE

A
  1. Interpretation – Member means anyone affiliated
  2. Communication – RICS will contact members in the following ways
  3. Ethical Behaviour – Act with integrity, avoid conflicts of interest
  4. Competence – Carry out their work with due skill, care and diligence
  5. High Standard of Service – Carry out work in a timely manner with regard of the expected standards
  6. CPD – Continuing Professional Development, minimum of 20 hours, at least half formal
  7. Solvency – Ensure that personal and professional finances are managed appropriately
  8. Information to RICS – Submit in a timely manner, any information to RICS
  9. Co-Operation – Fully comply with RICS staff
59
Q

What is CSR?

A

Corporate Social Responsibility - action taken that positively impacts on the environment, communities, the workplace and suppliers

60
Q

How do you apply the RICS ethical standards in your professional / personal life?

A

Ensure I provide a high standard of service whilst maintaining my integrity, trust and honesty

61
Q

If your client asked you to provide advice above your area of knowledge what would you do?

A

Speak with Director or Senior if we can advise

If not, seek to understand if we are able to under our P.I and check scope of services

62
Q

What is meant by ‘Co-operation:’ as one of the 15 rules for firms?

A

Shall co-operate fully with RICS staff and any person appointed by the Regulatory Board.

63
Q

What is meant by ‘Information to RICS:’ as one of the 15 rules for firms?

A

Submit in a timely manner such information about its activities, and in such form, as the Regulatory Board may reasonably require.

64
Q

What is meant by ‘Use of designations’ as one of the 15 rules for firms?

A

Registered for regulation must display on its business literature, in accordance with the Regulatory Board’s published policy on designations, a designation to denote that it is regulated by RICS.

65
Q

What is meant by ‘arrangements to cover the incapacity or death of a sole practitioner:’ as one of the 15 rules for firms?

A

In place appropriate arrangements in the event of that sole principal’s death or incapacity or other extended absences.

66
Q

What is meant by ‘advertising’ as one of the 15 rules for firms?

A

Promote its professional services only in a truthful and responsible manner.

67
Q

What is meant by ‘solvency’ as one of the 15 rules for firms?

A

Ensure that its finances are managed appropriately

68
Q

What is meant by ‘competence’ as one of the 15 rules for firms?

A

Carry out its professional work with due skill, care and diligence

69
Q

What is meant by ‘professional behaviour’ as one of the 15 rules for firms?

A

Act with integrity and avoid conflicts of interest

Ethics (12 decks)

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