What are the 3 main roles of the RICS?
Maintain High Standards
Protect Consumers
Be a leading source of information and independent advice on property.
What are the 5 key principles of the Rules of Conduct 2021 (Eff. 2022)?
Act with integrity
Provide a high standard of service
Act in the public interest
Treat others with respect (DEI)
Take responsibility
What are the 3 basic professional obligations for members of the RICS?
Comply with CPD requirements
Cooperate with the RICS
Provide all information required to the Standards and Regulations Board
What are the general guidelines around the use of social media?
Maintain professionalism, don’t post confidential information, be respectful and courteous, report any breeches of professional standards or misconduct, ensure what you’re posting is accurate and not misleading
What are the 3 steps around a conflict of interest?
Conflict avoidance, written advice to both parties, conflict management
Give some examples of conflict barriers?
IT barrier, physical barriers (different offices or areas), information stored securely
When should complaints be acknowledged and investigated?
7 days to be acknowledged, 28 days to be investigated
What principle is established with the case of Burgess vs Lejonvarn (2020)?
Duty of care still exists without a formal contract or payment if your professional advice is relied upon
How might you avoid negligence?
Act within your competence, follow RICS guidance and standards, keep accurate records, update your skills and professional knowledge
What are the minimum PII requirements?
£100k or less = £250k min
£100-200k = £500k min
£200k+ = £1m min
What is run off cover?
It is required if a practice closes, £1m over 6 years of close
What are 6 areas of good practice around money handling?
Hold clients money, provide information to your client, keep receipts of paid money, keep good accounting principles, comply with legislation, record payments from client accounts
What does the Bribery Act 2010 make illegal?
Makes it an offence to offer, promise, give, request, agree to, or receive a bribe
What are the 4 offences laid out by the Bribery Act 2010?
Bribing, receiving a bribe, bribing a foreign public official, failing to prevent bribery (you can get 10 years for offences)
What are the penalties associated with money laundering?
Max 14 years for assisting
Max 5 years for tipping people off
What does the proceeds of Proceeds of Crime Act 2002 lay out?
Makes it an offence to acquire, use, possess or conceal criminal property
