RICS Publications & Legislation

Question 1

RICS Global Professional Standard on Conflicts of Interest 2017

Answer 1

Provides rules for RICS members and regulated firms to identify and mange potential conflicts of interest

Question 2

RICS Professional Standard ‘Surveying Safely’ 2019

Answer 2

Basic good practice principles for the management of health and safety

Question 3

RICS Professional Statement Property Measurement 2018

Answer 3

Updates the Code of Measuring Practice to incorporate IPMS. Mandatory for offices and resi.

Question 4

RICS Code of Measuring Practice 2015

Answer 4

Provides a consistent approach to measuring (excluding offices and resi)

Question 5

RICS Valuation - Global Standards 2021

Answer 5

Global valuation standards created to achieve high standards of integrity, clarity and objectivity in valuation best practice

Question 6

RICS Professional Standard on Countering Bribery and Corruption, Money Laundering and Terrorist Financing 2019

Answer 6

Mandatory globally applicable requirements for RICS members in relations to bribery, corruption, money laundering and terrorist financing

Question 7

RICS Professional Standard on Complaints Handling 2016

Answer 7

Sets out mandatory requirements for RICS members in relation to the complaints handling procedure to undertake.

Question 8

Bribery Act 2010

Answer 8

Sets out procedures to put in place to prevent bribery.

Question 9

Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017

Answer 9

Covers estate agency work and relevant financial business work inside and outside of the UK

Question 10

Health and Safety at Work Act 1974

Answer 10

Puts a duty on all employers to ensure, so far as is reasonably practicable, the health, safety and welfare at work

Question 11

Equality Act 2010

Answer 11

Protects people from discrimination in the workplace and in wider society

Question 12

Data Protection Act 2018

Answer 12

Defines UK law on the processing of data on identifiable living people. 8 Principles

Question 13

General Data Protection Regulations 2018

Answer 13

Relates to the storage of personal data

Question 14

Freedom of Information Act 2000

Answer 14

Create the right to access to information held by public authorities

Question 15

Minimum Energy Efficiency Standards 2015

Answer 15

Makes it unlawful for landlords to grant a new lease with an EPC below E after April 2018. Makes it unlawful for landlords to continue letting premises with EPC below E after April 2024.

Question 16

Landlord and Tenant Act 1954

Answer 16

This act relates to the rights and obligations of landlords and tenant. The significance of the act in leases is that it provides tenants the right to renew their lease upon expiry.

Question 17

The Consumer Rights Act 2015

Answer 17

Specifies the consumers cancellation rights for goods, services and digital content (14 days)

Question 18

Limitations Act 1980

Answer 18

Sets out the time limits on claims made (6 years from negligent act. Or 3 years from knowledge of the act subject to a 15 year long stop period from the negligent act).

Question 19

Building Safety Act 2022

Answer 19

Intended to enhance regulations for building safety and ensure residents have stronger voice in ensuring safety of buildings

Question 20

Estate Agency Act 1979

Answer 20

Aims to promote honesty, accuracy, clarity and openness in the agency process. It aims to discourage discrimination.

Policed by National Trading Standards Estate Agency Team (NTSEAT)

Question 21

Misrepresentation Act 1967

Answer 21

Aims to protect consumers from false or fraudulent claims that induce you into buying something.

This act deals with misrepresentation pre-contracts.

Question 22

Consumer Protection Regulations 2008

Answer 22

Aims to protect consumers from unfair business practices. It tries to prevent tricky tactics and false information.

This regulation deals with misleading commercial activities

Question 23

The Proceeds of Crime Act 2002

Answer 23

Aimed at tackling money laundering and preventing criminals from profiting from their illegal activities.

It allows authorities to confiscate assets obtained through crime.

Question 24

RICS Professional Standard - Comparable Evidence in Real Estate Valuation 2019

Answer 24

Aims to provide guidance for the use of comparable evidence in valuations.

Page 20 - Dealing with a shortage of evidence highlights the steps to take when faced with a shortage of evidence. Valuers are expected to look further and increase the range. As such should refer to the hierarchy of evidence when there is a lack of data. Look at indirect evidence or interest rates.

Question 25

RICS Professional Standard - Sustainability and ESG Guidance in Commercial Property Valuation and Strategic Advice 2021

Answer 25

Aims to assist surveyors in assessing the impact of sustainability and ESG considerations on property value and investment decision-making.