RCIS APC Q&A > Ethics > Flashcards

Ethics Flashcards

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1
Q

What is the meaning of the RICS Motto?

A

‘Est Modus in Rebus’ which translates to ‘There is measure in all things’

The motto reflects the principle of balance in professional conduct.

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2
Q

What is the Mission Statement of the RICS?

A
  • Qualify and equip members for high standards of service
  • Promote and enforce standards
  • Lead solutions to major challenges in the built environment

This mission emphasizes the RICS’s commitment to professionalism and expertise.

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3
Q

When was the RICS founded?

A

1868

The RICS has a long history of promoting professional standards in surveying.

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4
Q

How is the RICS structured?

A
  • Founded in 1868
  • Royal Charter granted in 1881
  • Self-regulated and internally monitored
  • Governed by a council and various boards

This structure allows for internal governance without external regulation.

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5
Q

What are the RICS’ 5 principles of better regulation?

A
  • Proportionality
  • Accountability
  • Consistency
  • Targeting
  • Transparency

These principles guide the regulatory framework of the RICS.

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6
Q

What is the difference between RICS ethics and rules of conduct?

A
  • Ethics: set of moral values
  • Rules of conduct: framework to work within

Ethics guide behavior, while rules provide specific guidelines.

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7
Q

How many Global Professional and Ethical standards were there until February 1, 2022?

A

5

These standards were consolidated into the New Rules of Conduct effective February 2, 2022.

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8
Q

What are the Global Professional & Ethical Standards?

A
  • Act with integrity
  • Provide a high standard of service
  • Promote trust in the profession
  • Treat others with respect
  • Take responsibility

These standards guide professional behavior for RICS members.

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9
Q

When are the Rules of Conduct changing?

A

Effective from February 2, 2022

The changes reflect updated practices and standards.

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10
Q

What are the New Rules of Conduct?

A
  • Rule 1: Honest and integrity
  • Rule 2: Maintain professional competence
  • Rule 3: Provide quality service
  • Rule 4: Treat others with respect
  • Rule 5: Act in the public interest

These rules outline the expectations for RICS members and firms.

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11
Q

Why did the previous Rules of Conduct change?

A
  • Previous rules were in place since 2007
  • Majority voted for replacement for clarity
  • Focus on evolving technology and climate change

The changes aim to modernize and simplify the rules.

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12
Q

What are the professional obligations of members?

A
  • Comply with CPD requirements
  • Cooperate with RICS
  • Provide requested information promptly

These obligations ensure members maintain professional standards.

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13
Q

What are the professional obligations of firms?

A
  • Publish complaints handling procedure
  • Ensure adequate professional indemnity cover
  • Cooperate with RICS
  • Report required matters to RICS

These obligations help maintain accountability and service quality.

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14
Q

Why does the RICS have Rules of Conduct?

A

To provide a framework for service standards

This ensures clients receive a consistent level of service.

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15
Q

What should you do if your brother-in-law is working outside the RICS Rules of Conduct?

A
  • Verify facts and confront him
  • Inform the RICS of the situation

This maintains professional integrity and accountability.

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16
Q

What is the procedure for a breach of a rule of conduct?

A
  • Formal investigation by RICS
  • Request information and/or inspection

Members must cooperate fully during the investigation.

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17
Q

How can a disciplinary proceeding be triggered?

A
  • Complaint to RICS
  • Allegation by a client or third party
  • Information received by RICS

These triggers initiate the investigation process.

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18
Q

What three actions can be imposed after the investigation stage?

A
  • Fixed penalty
  • Consent order
  • Disciplinary panel

These actions vary based on the severity of the breach.

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19
Q

What are fixed penalties?

A

A fine by the RICS

This is a common disciplinary measure.

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20
Q

What are consent orders?

A

Written agreement concerning a disciplinary issue

It may require corrective actions or impose restrictions.

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21
Q

When is a disciplinary panel applicable?

A

For serious breaches of conduct

The panel proceedings are usually public.

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22
Q

What sort of breaches would expulsion be suitable for?

A
  • Gross failure to comply
  • Fraud or dishonesty
  • Serious criminal conviction
  • Gross incompetence

Expulsion is a severe disciplinary action.

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23
Q

What procedures must you follow if you are starting up a new practice?

A
  • Contact RICS for guidance
  • Register for regulation
  • Prepare complaints handling procedure
  • Obtain professional indemnity insurance

Following these steps ensures compliance with RICS standards.

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24
Q

What insurances would you need if you were starting up your own firm?

A
  • Professional Indemnity Insurance
  • Employer’s Liability
  • Public Liability
  • Building’s insurance

These insurances protect against various risks associated with running a firm.

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25
What sort of information do registered firms have to send to the RICS **annually**?
* Type of business and staffing * Nature of clients * Training provision * Complaints handling procedures ## Footnote This information is essential for regulatory compliance.
26
What processes do regulated firms need to put in place when handling **Clients' Money**?
* Preserve security of clients' money * Clear segregation of duties * Competent staff for processing * Maintain client ledgers ## Footnote These processes ensure proper management of client funds.
27
What are the different types of **client money accounts**?
* General accounts: hold money for multiple clients * Discrete accounts: reference a single named client ## Footnote These account types help manage client funds effectively.
28
What is meant by the term **Negligence**?
Failure to provide the duty of care owed to clients ## Footnote This can lead to claims for damages or Professional Indemnity Insurance claims.
29
Tell us about the **Merrit V Babb case law**?
Highlights the importance of having run off cover in place ## Footnote A surveyor was sued for negligence after their firm ceased to exist.
30
What limitation periods are associated with **underhand** and **deed forms of contract**?
* 6 years for underhand * 12 years for deed ## Footnote These periods define the time limits for legal claims.
31
What must a **complaints handling procedure** include?
* Clear, quick, transparent process * Redress mechanism * Names of investigating person * Record all complaints ## Footnote This ensures effective resolution of client complaints.
32
What is an **independent redress scheme**?
Consumer scheme for handling small issues ## Footnote It provides a binding resolution for complaints without court involvement.
33
What do you do if you receive a **letter of complaint**?
* Acknowledge receipt * Forward to designated complaint handler ## Footnote Immediate action is crucial for compliance.
34
What is the ‘**Clients’ Money Protection Scheme**’?
Scheme to reimburse public for direct loss of funds ## Footnote Operated by RICS for added client security.
35
What is the purpose of the **joint names on a client account**?
For dual authorisation ## Footnote This helps prevent unauthorized access to client funds.
36
What are the **continuous professional development (CPD) requirements**?
* Undertake and record lifelong learning * Provide evidence of CPD on request ## Footnote This ensures members maintain professional competence.
37
How many hours must you do for **CPD**?
A minimum of 20 hours per calendar year ## Footnote At least 10 hours must be formal CPD.
38
What sorts of activities are included in **CPD**?
* Web-based training * Formal seminars * Private reading * On-the-job shadowing ## Footnote Activities must have clear learning objectives.
39
What types of articles do you read for **CPD**?
* RICS journals * Relevant press digests * Industry updates ## Footnote Staying informed is crucial for professional development.
40
What is your **CPD strategy**?
* Meet with manager to review development plan * Build strategy around objectives and interests ## Footnote A personalized approach to CPD is essential.
41
What does **PII** stand for?
Professional Indemnity Insurance ## Footnote This insurance protects professionals against claims of negligence.
42
What is the purpose of **Professional Indemnity Insurance**?
To provide financial cover for client losses due to breach of duty ## Footnote It safeguards both the professional and the client.
43
What benefits does **PII** provide for the professional?
* Protection from financial losses * No need to meet claims from own assets ## Footnote This insurance is vital for risk management.
44
What benefits does **PII** provide for the client?
Ability to recover financial losses ## Footnote Clients are safeguarded against professional errors.
45
On what basis is **PII** underwritten in the UK?
On a claims made basis ## Footnote This means the policy in effect at the time of discovery covers the claim.
46
What are the requirements regarding **Professional Indemnity Insurance** set by the RICS?
* Cover on an ‘each and every’ claim basis * Minimum and maximum indemnity levels * Run off cover for at least 6 years ## Footnote These requirements ensure adequate protection for clients and professionals.
47
What measures should be taken to try and avoid **PI claims**?
* Keep detailed records * Use proper letters of engagement * Avoid advising outside your expertise ## Footnote Proactive measures can significantly reduce the risk of claims.
48
What is the maximum level of **uninsured excess** set by the RICS?
The RICS sets out the maximum levels of uninsured excess ## Footnote Run off cover must be in place for at least 6 years.
49
What should a policy include regarding employees?
* Cover for past employees * Cover for present employees * Cover for directors * Cover for partners ## Footnote This ensures comprehensive protection under the policy.
50
What measures should be taken to try and avoid **PI claims**?
* Keep full and detailed records of meetings and conversations * Record recommendations and advice given * Use proper letters of engagement * Don’t advise on a specialism outside your field of experience * Use RICS guidelines * Avoid poor management and excessive workloads ## Footnote These measures help mitigate risks associated with professional indemnity claims.
51
If you made a mistake in your cost plan, what would your insurance company expect?
For you to notify them and comply with any conditions & procedures set out in the insurance policy ## Footnote Prompt communication is crucial in managing insurance claims.
52
Can a client claim damages if an estimate prepared by a QS is incorrect?
An estimate that is incorrect in itself will not provide the client with a right of redress ## Footnote The client must demonstrate that the QS warranted the accuracy of the estimate or that it was incorrect due to a lack of reasonable skill and care.
53
How can you limit your **liability** when agreeing terms of appointment with a client?
* Base the appointment on reasonable care and skill * Request a clause limiting the appointment to reasonable skill and care only * Ensure run off cover is in place ## Footnote Execution of the appointment under hand will result in a reduced liability period of 6 years instead of 12.
54
What are the main elements included within a **fee proposal**?
* Terms and conditions * Scope of services * Exclusions * Assumptions ## Footnote These elements are essential for clarity and agreement between parties.
55
If you realize you have under forecasted your resources, what should you do?
If project requirements have increased, request a fee increase ## Footnote If the scope of works remained the same, additional work must be carried out without requesting extra fees.
56
What should you do after agreeing services with a client verbally?
Follow up with a formal letter including terms and conditions, fees, and scope of services ## Footnote This ensures both parties have a clear understanding and record of the agreement.
57
What should you do with a lump sum fee received from a client?
Place the funds in a separately identified client account ## Footnote Agree a drawdown of monies against the services being provided.
58
Define **conflict of interest**.
A situation where someone in a position of trust has competing personal or professional interests ## Footnote This makes it difficult for them to fulfill their duties impartially.
59
How could a conflict of interest be managed internally if two departments work for the same client?
* Ensure exclusivity of staff * Separate communication lines into the client * Provide separate geographical locations and secure data storage * Staff sign confidentiality agreements * Monitor potential conflicts ## Footnote These measures help maintain integrity and confidentiality.
60
If a client insists on working with you despite a conflict of interest, what should you do?
* Check the client's understanding of the conflict * Make the client aware of potential reduced impartiality * Seek a letter of instruction from the client ## Footnote Agree working procedures to manage the conflict with the client and teams involved.
61
What are the main offences under the **Bribery Act**?
* Making a bribe * Receiving a bribe * Bribery of a foreign public official * Failure of a corporate entity to prevent bribery on its behalf ## Footnote The legislation applies to all UK Entities and includes associated persons.
62
What are the six principles of prevention companies should implement under the Bribery Act?
* Proportionate Procedures * Top Level Commitment * Risk Assessments * Due Diligence * Communication * Monitoring & Review ## Footnote These principles help organizations prevent bribery effectively.
63
Under what circumstance is a **facilitation payment** permitted?
When you are under duress, such as a real and present risk to life, limb, or liberty ## Footnote Safety should always come first, and the matter should be reported immediately.
64
How would you act if you won a prize at a contractor organized business conference?
I would decline the prize and suggest it be made as a charitable donation ## Footnote Accepting the prize could be interpreted as a bribe, especially while working on a project with the contractor.
65
What should you do if invited to the theatre but the project team drops out?
Declare the hospitality and decline the invite ## Footnote Since the event would not be genuine business, it is inappropriate to attend.
66
How should you respond to a lavish lunch invitation from a contractor during a tender process?
Decline the invitation and explain that it is inappropriate ## Footnote If persistent, report the infringement as it raises a red flag.
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