Ethics Flashcards

(35 cards)

1
Q

What are the rules of conduct?

A

The RICS rules of conduct are o Act honest and with integrity o Maintain professional competence o Good quality and diligent service o Act with respect o Take responsibility

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What are examples of each of the rules?

A

Rule 1 – refusing to accept a bribe Rule 2 – only accepting instructions that match my skillset and knowledge Rule 3 – defining the scope with the client in writing Rule 4 – Treating colleagues with respect Rule 5 – promptly responding to a complaint

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Why are the rules of conduct important?

A

The rules of conduct are important for maintaining integrity, trust and professionalism within our industry. They provide a high ethical standard and ensure a competent and honest service is delivered

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Can I give examples of the behaviours?

A

Rule 1 – members and firms do not take unfair advantage of others Rule 2 – members and firms only undertake work that they have the skills to carry out competently Rule 3 – members and firms understand client’s objectives before accepting any professional work Rule 4 – members and firms do not bully or harass anyone Rule 5 - members and firms respond to complaints made against them promptly, openly and professionally

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

What is the difference between formal and informal CPD?

A

Formal CPD follows a structured programme for example a weekly lunch time learning session Whereas informal CPD is self-directed

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

What is a decision tree?

A

A decision tree is a tool used to determine whether CPD is formal or informal. It asks a series of questions relating to how the CPD was undertaken.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Give me some examples of targets you set yourself as part of your performance reviews?

A

I set a target to lead weekly change control meetings with specific subcontractors which allowed me to manage the supply chain better.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

How would I deal with a confidential RFI?

A

Upon receiving the RFI, I would review and identify any confidential elements of the response. I would redact the answer and log the query on the TQ schedule.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What else did I do ethically when tendering?

A

I ensured all subcontractors received the same information and were evaluated in accordance with the criteria set out in the ITT.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Why is not disclosing the information of other tendered important?

A

It is important that tenderers remain anonymous to maintain fairness. If tenderers were aware of who was tendering, then it would create an opportunity for collusion.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Why would accepting a hamper create an inappropriate perception?

A

Because it may suggest that collusion or bribery is taking place Other subcontractors may think that they are receiving at an unfair disadvantage because of my relationship with other subcontractors

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What is the bribery act?

A

Legislation tackling bribery and anti-corruption. It covers active and passive bribery Make it a corporate offence for failing to prevent bribery

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Why would I record the offering in the gift register if I rejected it?

A

Because it complies with procedures designed to protect me and my organisation It needs to be on record that it was declined in case anyone witnessed the offering and assumed it was accepted

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What is a tender analysis?

A

The process of reviewing and comparing tenders They are used to work out what is the best value for money by balancing price, quality and risk. It involves scoring against a pre-defined criteria The criteria could include skills, experience, cost

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

How do you normalise/equalise errors?

A

Equalizing errors is correcting arithmetical or formatting errors I would contact the tenderer in writing to clarify if it is in fact an error and give them the chance to rectify For comparison purposes I would take an average of the other prices submitted (for the specific error) and use that to equalise the price.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What was the previous disagreement?

A

I would ascertain context around the disagreement and advise that they must be included in the scoring to maintain fairness and consistency. The decision would ultimately be at my Clients discretion, so if they wanted to proceed with another tenderer to avoid a hostile working relationship then I would not have an issue with that.

17
Q

What was the qualitative scoring matrix?

A

Non-numerical scoring tool used to assess based on criteria such as high, medium and low. It relies on a subjective assessment

18
Q

Who owns the RICS?

19
Q

What are the types of conflict of interest?

A

Own interest – I will gain a personal advantage Party conflict – if I’m working for a contractor and a dispute rises against I cant work on it Confidential information conflict –

20
Q

Would I ever work under a conflict of interest?

A

I would require informed consent But always try to avoid

21
Q

What is modus?

22
Q

What is the difference between a professional statement and guidance note?

A

Professional statement – mandatory Guidance notes – should

23
Q

What is the black book?

A

RICS suit of guidance notes

24
Q

What is the RICS moto?

A

Est Modus in Rebus There is proper measure in things Means the RICS is committed to balance and moderation

25
Who is the CEO, senior vice president and president elect?
Justin Young Susanne Eickermann-Riepe
26
What is lion heart?
Charity for past and present RICS professionals
27
What do you need to set up a firm?
Register on companies’ house Ensure at least 25% of principals are charted Insurance CHP Business plan
28
What is a bylaw?
Internal legally binding documents
29
Red flags of money laundering?
Secretive behaviour Refusing to provide identification documents Client is subject to sanctions Transactions of no clear purpose Unexplained urgency
30
Difference between any one claim or aggregate policy?
Aggregate is capped for the year Any one claim is a maximum per claim
31
What is run off cover?
Type of PI that protects them after they have ceased trading or retried their business
32
What is the golden thread?
A digital record of a buildings safety information
33
Would I accept a lunch or dinner?
No – not if it can be perceived as a bribe I would accept a lunch if during a meeting we take a break and I am offered a lunch
34
Would I accept a cash payment?
No as cash can be perceived as underhand I would request for the money to be put through the clients accounts for auditing purposes
35
Would I handle clients money?
Yes, but only in line with the RICS guidance I would o Hold the money in a client account which the RICS firm has exclusive control at a bank o Not hold other money in a client money account o Ensure the account has the word “client” written in the title o Ensure it immediately available