Ethics (SOE)

Question 1

What are the RICS Rules of Conduct?

Answer 1

Mandatory guidelines for RICS members and firms that dictate professional behavior and obligations

RICS stands for the Royal Institution of Chartered Surveyors

Question 2

What is the purpose of Professional Indemnity Insurance?

Answer 2

Protects professionals against claims for negligence, errors, or omissions in services provided

Essential for safeguarding both the professional and the client

Question 3

When is a firm required to register for regulation by RICS?

Answer 3

• Firms must provide a surveying service to the public
• Firm is operating in a regulated area
• 50% of the firms principles are RICS members

50% for registration, 25% for eligibility

Question 4

What is a key requirement for a complaints handling procedure (CHP)?

Answer 4

• be fit for purpose
  -Made available for all staff
• Be understood by all staff
• be agreed with PII brokers
• Be regularly reviewed
• Provide details of access to an independent redress process if the complaint cannot be resolved

Question 5

What does the Bribery Act 2010 criminalize?

Answer 5

Offering, receiving, or requesting bribes, including four main offences: offering a bribe, receiving a bribe, bribing a foreign public official, and failing to prevent bribery

Question 6

What is the penalty for Active Bribery?

Answer 6

Individuals
Imprisonment (up to 10 years)
Fines (unlimited)
Firms:
Fines
Debarment

Question 7

What are the Six Prevention Principles in anti-bribery measures?

Answer 7

*Proportionate Procedures
* Top-Level Commitment
* Risk Assessment
* Due Diligence
* Communication (including Training)
* Monitoring and Review

Question 8

What is the minimum CPD requirement for RICS members each year?

Answer 8

20 hours, with at least 10 hours being formal CPD

Question 9

What obligations do RICS members have regarding client money?

Answer 9

• Ensure compliance with anti-money laundering legislation
• Follow procedures for handling client money
• Make disclosures if aware of misappropriation risks

Question 10

What is the purpose of the RICS Client Money Protection Scheme?

Answer 10

To protect client money held by RICS-regulated firms in the UK and property agents

Question 11

What must firms with a sole principal do in case of incapacity or death?

Answer 11

Make appropriate arrangements for their professional work to continue

Question 12

What is required for a client money account?

Answer 12

• Must hold only client money
• Labeled as ‘Client’ in the title
• Made immediately available

Question 13

What does Passive Bribery entail?

Answer 13

Requesting, agreeing to receive, or accepting a bribe for improper performance

Question 14

What is a fully retroactive PII policy?

Answer 14

Covers claims made during the insurance period, regardless of when the negligent act occurred

Question 15

What is the role of the Standards and Regulation Board?

Answer 15

To oversee compliance and request information from RICS members and firms

Question 16

What is meant by ‘informed consent’ in the context of conflicts of interest?

Answer 16

Ensuring that all parties are aware of potential conflicts and agree to proceed

Question 17

What is a principle in a firm?

Answer 17

A senior member or owner (Ie. Director or partner)

Question 18

When is a firm eligible to register for regulation by RICS

Answer 18

• Firm must provide surveying services to the public
• at least 25% of firms principles are RICS members
  -Meets the rule 4.1 - (noted in the rules for registration Bye-laws)

Question 19

What is the minimum level of PI based on? Can you list the minimum limits of PII?
Follow - What happens if its your first year of practsing?

Answer 19

• less than 100k - £250k
• up to 200k - £500k
  -over 200k - £1m

Question 20

What is the maximum level of uninsured excess?

Answer 20

up to 500k - either 2.5% of the sum insured or £10k (greater number)
over 500k - 2.5% of the insured sum

Question 21

What are the RICS Black books?

Answer 21

Collection of technical guidance notes to define good practice in the profession

Question 22

Can you list some black books topics

Answer 22

-Interim valuations and payments
-Cost analysis and benchmarking

Question 23

What is the RICS red book

Answer 23

a set of mandatory standards and guidance for undertaking valuation services

Question 24

What is the penalty for breaching RICS professional standards for individuals

Answer 24

• Caution or reprimand
• Fines (£250 for minimum, unlimited for serious breaches)
  -Suspension or expulsion from the RICS

Question 25

What is the penalty for breaching RICS professional standards for firms

Answer 25

-Fines (u to £500 for late compliance, unlimited for serious breaches) -Regulatory Compliance orders - Referral to disciplinary panel - Loss of regulated status

Question 26

What is the process for starting up a firm under the RICS?

Answer 26

Complete the company start up pack from RICS Register for regulation with RICS Prepare a CHP obtain PI insurance

Question 27

What is your firms Whistleblowing policy

Answer 27

My firm sets out its whistleblowing policy in the 'whistleblowing global policy document' It sets out who you should raise a concern with what the procedure is how your identify is protected examples of concerns that should be raised

Question 28

What are the obligations of firms under the RICS?

Answer 28

Firms must publish a CHP Firms must ensure all previous and current work is covered by sufficient PI cover Firms with a sole principle need to have arrangements for their professional work to continue in the event of their incapacity Firms must cooperate with RICS Firms must promptly provide all information requested by the Standards and Regulation Board Firms must display that they are regulated by RICS Firms must report to the RICS any matter that they are required to report under the rules for registration of firms

Question 28

What are the obligations of members under the RICS

Answer 28

Members must comply with the CPD policy - 20 hours in total with 10 being formal Members must cooperate with the RICS Members must promptly provide all information requested by the Standards and Regulation Board

Question 29

Can you name some professional standards

Answer 29

RICS Surveying Safely Identify and management conflicts of interest Responsible use of artificial intelligence in surveying practice Client money handling Complained handling

Question 30

What is the responsible use of artificial intelligence in surveying practice

Answer 30

Sets out practices for use of AI such as Data governance - safeguarding data System governance - Assessing whether AI is the most appropriate tool to use Risk management - What are the risks of using AI How to use AI

Question 31

What is the structure of the RICS?

Answer 31

- Governing council - RICS board and Standards and reg board - Presidential team - Elected annually through internal elections -Regional and professional bodies -Executive leadership team

Question 32

What are Practice information? Can you name some?

Answer 32

Information provided by the RICS to support members. it includes guidance on best practice (Black books) NRM Cost reporting Cost analysis and benchmarking

Question 33

What is the role of professional groups and how many are there?

Answer 33

there are 18 nr Building control building surveying commercial property dispute resolution They support sector specific journals a and standards and offer professional insight and contribute to RICS policy and guidance

Question 34

What is Lionhart / Matrics

Answer 34

Bodies within the RICS Lionhart is a charity that supports RICS members Matrics is a networks for students, trainees and newly qualified members

Question 35

What are Bye laws?

Answer 35

They are internal laws that govern how the RICS operates. As the RICS is self regulated it makes sure it runs fairy transparently and in line with he Royal charter

Question 36

What are updated in Jan 2026 to the CPD policy

Answer 36

- Mandatory topics to be covered every 3 years (Ethics, sustainability and AI) - carrying forward CPD - Increased review on CPD records - Improved digital tools to record CPD

Question 37

Can you explain your understanding of the modern day slavery act, what does it do to prevent. Follow? How would you recondnise and check

Answer 37

Introduced in 2015 aims to prevent -forced labor -human trafficking -Exploitation -Serviture orginisations mut prepare and publish statements that set out: how they assess risks with MS Due dilligence checks Supplier checks training provided How they prevent exploitation you can identify by unusually low tenders cash in hand labour restricted movement / travel signs of coercion or fear You can mitigate by PQQ's Audit suppliers right to work checks reviewing MDS policies from subbies -