1
Q
When was the RICS founded and when did it receive its royal charter?
A
Founded in 1868, received royal charter in 1881
2
Q
What are the current membership numbers for RICS?
A
112,000 qualified members and 30,000 training members
3
Q
What are the 4 levels of RICS membership?
A
Fellow, Member, Associate Member, and Student
4
Q
What are the 4 Fellowship Characteristics required to become a Fellow?
A
5+ years as a member, leadership role, professional and technical achievement, academic achievement or raising RICS profile
5
Q
How many seats are on the RICS governing council?
A
28 seats
6
Q
Who is the current RICS CEO?
A
Justin Young
7
Q
Who is the current RICS President?
A
Justin Sullivan
8
Q
What are the three main roles of RICS?
A
Maintain high standards, protect consumers, be the leading source of information and independent advice
9
Q
What was the Bichard Review and when was it conducted?
A
Independent review of RICS governance, strategy, culture, and member engagement in 2022
10
Q
What are the 5 RICS Rules of Conduct 2021?
A
Act with integrity, provide high standard of service, act in public interest, treat others with respect, take responsibility
11
Q
What is the minimum CPD requirement per calendar year?
A
20 hours, with 10 hours being formal
12
Q
What are the three levels of RICS disciplinary action?
A
Action by Head of Regulation, Disciplinary Panel, Appeal Panel
13
Q
What is efflorescence in brickwork?
A
White marks caused by hydroscopic salts reacting with water
14
Q
What is spalling in brickwork?
A
Damaged brickwork where surface crumbles due to freeze/thaw actions after saturation
15
Q
What are the three types of conflicts of interest?
A
Party conflict, own interest conflict, confidential information conflict
16
Q
When did the RICS Conflicts of Interest standard come into effect?
A
1st January 2018
17
Q
What are the three steps for conflict management?
A
Conflict avoidance, written advice to both parties, conflict management
18
Q
How long must old files be held for minimum?
A
6 years
19
Q
What are the two stages of the complaints handling procedure?
A
Stage One (in-house) and Stage Two (ADR - alternative dispute resolution)
20
Q
What is the timeframe for acknowledging and investigating complaints?
A
Acknowledge within 7 days, investigate within 28 days
21
Q
What constitutes negligence in professional practice?
A
Failing to exercise reasonable skill and care expected of a competent professional
22
Q
What was established in Burgess v Lejonvarn (2020)?
A
Duty of care can exist even without formal contract or payment if professional advice is relied upon
23
Q
What are the minimum PII requirements for turnover £100k or less?
A
£250,000 minimum limit
24
Q
What are the minimum PII requirements for turnover £100,001 to £200,000?
A
£500,000 minimum limit
25
What are the minimum PII requirements for turnover £200,001 or more?
£1,000,000 minimum limit
26
How long is run-off cover required and at what amount?
6 years at £1,000,000
27
What are the 6 main areas of good practice for handling clients' money?
Holding clients money, providing information to clients, receipts of paid money, payments from client accounts, accounting records and controls, compliance
28
What word must appear on client bank accounts?
"Client"
29
What are the 4 offences under the Bribery Act 2010?
Bribing, receiving a bribe, bribing a foreign public official, failing to prevent bribery
30
What is the maximum prison sentence for bribery offences?
10 years
31
What are the 6 principles of the Bribery Act 2010?
Proportionality, top level commitment, risk assessment, due diligence, communication, monitoring and reviewing
32
What is the maximum cash acceptance under money laundering regulations?
10,000 euros
33
What is the maximum prison sentence for assisting with money laundering?
14 years
34
What is the maximum prison sentence for tipping people off about money laundering investigations?
5 years
35
What does PEP stand for?
Politically Exposed Person
36
What are the 9 protected characteristics under the Equality Act 2010?
Gender reassignment, sex, sexual orientation, age, disability, race, religion or belief, marriage or partnership, pregnancy and maternity
37
What are the 4 types of illegal discrimination under the Equality Act 2010?
Direct, indirect, harassment, victimisation
38
What percentage of RICS members were women as of 2025?
19.6%
39
How much funding is in the RICS bursary programme for underrepresented backgrounds?
£90k
40
What does DEI stand for?
Diversity, Equity, and Inclusion
41
What is the Consumer Rights Act 2015 cooling off period?
14 days
42
What must be included in Terms of Engagement according to RICS?
Fee basis outline and availability of complaints procedure
43
What act must be complied with for money laundering?
Estate Money Laundering Act 1979 and Money Laundering Regulations 2017
44
What are valid reasons for declining an instruction?
Not competent, not enough facts, conflict of interest, client won't sign ToE, PII liability cap disagreement, advice for friend/pro bono, client on UK sanctions list
45
What must be obtained for conflicts of interest?
Written consent from all parties
46
What must conflict barriers be?
Robust enough that information doesn't pass, reasonable steps to keep in place, physically separated where possible
47
What is dual agency?
Where an agency has contractual relationship with both buyer and seller
48
What are multiple introductions?
Competing interests in the same asset from different purchasers
49
What is incremental advice?
Where agent approached by another party for advice related to purchase/disposal incremental to existing instruction
50
What requires client approval for file access?
Any access unless subject to police or HMRC investigation
51
What is formal CPD?
Must have clear objective and outcomes
52
What is informal CPD?
Self-managed learning
53
What must CPD maintain?
Relevant and current understanding of rules of conduct
54
How must CPD be recorded?
Using management system provided by RICS
55
What are the mandatory professional obligations for members?
Comply with CPD, cooperate with RICS, provide required information to Standards and Regulations Board
56
What are the mandatory professional obligations for regulated firms?
Publish complaints handling procedure, maintain log, ensure work covered by indemnity insurance, cooperate with RICS, provide requested information
57
What is the RICS Ethics Decision Tree first step?
Ensure you have sufficient facts to make a decision; separate facts from emotions
58
What should you ask yourself in the RICS Ethics Decision Tree?
Would you be comfortable with your actions being made public?
59
What must be done after making an ethical decision?
Record the decision taken and your reasoning
60
What can trigger disciplinary action?
Complaint to RICS, allegation by client/third party, information received/established by RICS
61
What is a regulatory compliance order?
Document covering issues for low-level breaches of rules
62
What penalties can a disciplinary panel impose?
Regulatory compliance order, reprimand, caution, fine, conditions on registration, expulsion, publication of results
63
What must be maintained regarding social media use?
Professionalism at all times; online presence reflects on you and profession
64
What should you not post on social media?
Confidential or sensitive client information
65
What should be avoided in social media posts?
Discriminatory, offensive, or inappropriate comments or content
66
What must fees be according to RICS guidance?
Fair, reasonable, and reflect the work undertaken
67
How must fees and terms be agreed?
In writing before starting work
68
What must be transparent about fees?
How fees are calculated (fixed, hourly, percentage)
69
What must not be offered or accepted regarding fees?
Inducements, secret commissions, or bribes
70
What must be ensured about fee negotiations?
They don't compromise professional independence or objectivity
71
What must be communicated about fees?
Any changes to fees or scope clearly and promptly
72
What must not be done with competitors regarding fees?
Undercut or have aggressive fee cutting
73
What are the three steps for Terms of Engagement?
Check professional competence and no conflicts, confirm ToE in writing and get approval before starting, comply with money laundering regulations
74
What is the relationship between RICS standards and negligence?
Following RICS standards helps demonstrate required professional care and defend against negligence claims
75
What can negligence claims arise from?
Both contract and tort (outside formal contracts)
76
How can negligence be avoided?
Act within competence, follow RICS standards, document terms clearly, communicate limitations, keep records, update skills, maintain PII, address concerns promptly
77
When must PII be arranged?
Before starting any professional work and maintain continuous cover
78
How often must PII be reviewed?
Annually, checking cover limits and exclusions
79
When must insurers be notified?
Promptly of any claims or circumstances that could lead to a claim
80
When must RICS be informed about PII?
Immediately if cover lapses or changes
81
What records must be kept regarding PII?
Up-to-date records of policies and correspondence with insurers
82
What must be disclosed to insurers?
Accurate and complete information when arranging or renewing PII
83
What must be checked about subcontractors?
That they hold adequate PII
84
When is PII needed for pro bono work?
Always required
85
What is the maximum level of insurance excess for £10 million limit?
Greater of 2.5% of sum insured or £10k
86
What is the maximum excess for limits £10 million or more?
No limit
87
When must PII certificate be sent to RICS?
On an annual basis
88
What is available for companies that can't cover run-off requirements?
RICS run-off pool
89
What was renamed in July 2024 PII requirements?
Assigned risk pool renamed the run-off pool
90
What policy wording basis is required?
Full liability basis
91
What do liability caps help manage?
Risks associated with professional work
92
What must be made clear about third party reliance?
Advice can only be relied on by client named in ToEs
93
What must client accounts be?
Held separately and clearly identifiable
94
What must clients be able to do with their money?
Get their money on demand
95
What records must be kept of client accounts?
Accurate records of running balance
96
What obligations exist for client accounts?
Annual audit and reporting obligations
97
When can money be withdrawn from client accounts?
If required
98
What is required for starting a new practice regarding RICS compliance?
Meet eligibility requirements, apply for registration, appoint Responsible Principal, arrange PII, establish complaints procedures
99
What must be set up for new practice complaints?
Complaints log and annual return system
100
What statutory compliance is required for new practice?
Business name disclosure, Equality Act 2010, Financial services compliance, Bribery Act compliance, money laundering reporting officer appointment
101
What is the RICS Professional Standard for health and safety?
Surveying Safely – Health and safety principles for property professionals, 2nd edition, 2018
102
When did Surveying Safely 2nd edition become effective?
February 2019
103
What must firms provide for safe working?
Safe working environment, safe work equipment, safe systems of work, competent staff
104
What does RICS consider a 'safe person' to mean?
Individual assumes responsibility for their own safety and safety of colleagues while at work
105
What legal requirement exists for organizations with 5+ staff regarding risk assessment?
Document health and safety risks of all hazards
106
What are the 5 steps of risk assessment?
Identify hazards, identify people at risk, evaluate risk and likelihood, record findings, review regularly
107
What is a method statement?
Document detailing how work task/process is completed and prior approved, outlining hazards and control measures
108
What insurance is needed before work can commence?
Public liability insurance and contractors all risks insurance
109
What is required if employing 5 or more people?
Written health and safety policy document
110
What are the 4 points of a health and safety policy document?
Policy commitment, health and safety structure with responsibilities, risk assessment, planning and implementation details
111
What act governs health and safety at work?
Health and Safety at Work Act 1974
112
Who polices health and safety laws?
Health and Safety Executive (HSE)
113
What are the consequences of health and safety breaches?
Criminal offence with jail sentences
114
What must be reported under 1995 regulations?
Injuries and dangerous occurrences
115
What must be undertaken under 1999 regulations?
Risk assessments must be undertaken and recorded
116
What is a hazard?
Anything that can cause harm (e.g., wet floor)
117
What is risk?
Likelihood of someone being harmed
118
What is required regarding PPE under 2022 regulations?
Employers' responsibility to ensure suitable provision of PPE
119
Who might require PPE provision?
Cleaning, security and construction workers
120
What does RIDDOR stand for?
Reporting of Injuries, Diseases and Dangerous Occurrence Regulations
121
When were RIDDOR regulations established?
2013
122
Who must comply with RIDDOR?
Employers, self-employed persons and those controlling work premises
123
What must be reported under RIDDOR?
Deaths, serious injuries, over 7-day absences, and occupational diseases
124
How must RIDDOR reports be made?
Immediately by phone/online, written report within 10 days
125
How long must RIDDOR records be kept?
Minimum 3 years from incident date
126
What are the penalties for RIDDOR non-compliance?
Unlimited fines and up to 2 years imprisonment
127
When were the 'Six pack' of H&S regulations introduced?
1993
128
What are the 'Six pack' regulations?
Management of H&S at work, Display screen equipment, Manual handling operations, PPE at work, Provision and use of work equipment, Workplace health/safety/welfare
129
What does the Corporate Manslaughter and Corporate Homicide Act 2007 relate to?
Gross breaches of duty of care by corporate body leading to person's death
130
What are penalties under Corporate Manslaughter Act?
Unlimited fine, imprisonment and disqualification as company director
131
What is the Regulatory Reform (Fire Safety) Order based on?
Risk assessment with emphasis on fire prevention
132
Where does the Fire Safety Order apply?
Non-domestic property in England and Wales
133
Who is the responsible person under Fire Safety Order?
The employer
134
What fire precautions might be reasonable?
Fire alarms, sprinklers, exit routes
135
What does FRAEW stand for?
Fire Risk Appraisal of External Walls
136
When is FRAEW required?
Buildings over 11 metres in height (approximately 4+ storeys)
137
What legislation requires FRAEW?
Building Safety Act 2022 and Fire Safety Act 2021
138
What does FRAEW assess?
External wall construction and fire spread risk, cladding materials, insulation, cavity barriers
139
Who must carry out FRAEW?
Competent fire risk assessors
140
What are Higher-risk buildings (HRBs) under Building Safety Act 2022?
Residential buildings over 18 metres or 7+ storeys
141
Where does the Building Safety Act 2022 apply?
England only
142
What does the Building Safety Act create?
New Building Safety Regulator (part of HSE) with enhanced powers
143
What does the Building Safety Act require for HRBs?
Mandatory building safety managers and accountable persons
144
When was full Building Safety Act regime effective?
October 2023
145
What is 'Martyn's Law'?
The Terrorism (Protection of Premises) Act 2025
146
What does Martyn's Law require?
Certain premises and events to have steps ready for terrorist attacks
147
When will Martyn's Law be enacted?
Over the next 2 years
148
What does the Occupiers' Liability Act 1957 cover?
Liability to lawful visitors on premises
149
Who has duty under Occupiers' Liability Act 1957?
All occupiers of premises (owners, tenants, or those in control)
150
What duty is owed to child visitors?
Higher duty of care - premises must be safe for child visitors
151
What duty is owed to specialists/tradespeople?
Lower duty - expected to guard against known risks
152
What covers trespassers?
Separate act - Occupiers' Liability Act 1984
153
What is required under Smoke-free Regulations 2007?
Illegal to smoke in all enclosed and substantially enclosed public places
154
What must be displayed under Smoke-free Regulations?
'No smoking' signs
155
What are penalties for smoking violations?
Fixed penalty notice (£50) to maximum fine of £2,500
156
What does the Defective Premises Act 1972 require?
Landlord obligation to ensure premises comply with requirements
157
How has Building Safety Act 2022 changed liability periods?
Extended from 6 years to 15 years for claims after June 2022
158
What is asbestos?
Insulating material which can cause serious health problems
159
When is asbestos dangerous?
When fibres are broken and disturbed
160
How many UK properties contain asbestos according to HSE?
Over 4 million
161
How many deaths does asbestos cause annually?
5,000
162
What are the 3 types of asbestos?
Brown (amosite), Blue (crocidolite), White (chrysotile)
163
When was asbestos made illegal?
1999
164
What governs asbestos management?
Control of Asbestos Regulations 2012
165
Who is the duty holder for asbestos?
Landlord of vacant building or tenant if occupied (under repairing lease)
166
What are the two types of asbestos survey?
Management survey and Refurbishment/demolition survey
167
What is a management survey?
To locate asbestos and advise on management (no sampling/analysis)
168
What is a refurbishment/demolition survey?
Required where premises undergo structural changes (samples taken and analysed)
169
What must be produced for asbestos management?
Asbestos register with priority scores
170
What is needed for new construction regarding asbestos?
Architect's certificate certifying no asbestos
171
What are the 5 steps for asbestos management?
Find out if asbestos present, assess risk and produce report, produce register, make register available, review regularly
172
What is the maximum fine under Health and Safety Offences Act 2008?
£20k and possibility of 12 months imprisonment
173
What does CDM stand for?
Construction (Design and Management)
174
When were CDM Regulations established?
2015
175
Where do CDM Regulations apply?
All construction work in Great Britain
176
What triggers enhanced CDM requirements?
Projects over 30 days or 500 person-days
177
Who are the key duty holders under CDM?
Clients, principal designers, principal contractors, designers, contractors
178
What must be created under CDM?
Pre-construction information and construction phase health and safety plans
179
Who has overall responsibility under CDM?
Client for ensuring compliance and competent appointments
180
When must projects be notified to HSE?
If over 30 days or 500 person-days
181
What are CDM breach penalties?
Prosecution, unlimited fines, imprisonment up to 2 years
182
What statutory obligations do commercial property owners have?
Asbestos management, contamination, Equality Act compliance, EPCs, fire safety, building safety, H&S, Legionnaires, occupiers' liability, PAT testing, waste management
183
What must be done when visiting premises and sites?
Tell someone where you're going and when you leave, wear appropriate PPE, sign in/out, consider if safe to inspect alone
184
What should be checked on scaffolding?
Dated tag
185
What type of shoes should be worn on ladders?
Non-slip shoes
186
What is essential for site visits?
Correct operational practice
187
What insurance type is needed from contractors?
Public liability insurance and contractors all risks insurance
188
What must be checked before work commences?
Copy of contractors' insurance
189
What workplace facilities must be provided?
Welfare facilities for construction workers
190
What must be assessed for competency under CDM?
All appointments and resource allocation
191
What must be coordinated under CDM?
Health and safety measures between all parties
192
What must designers do under CDM?
Eliminate/reduce risks through design decisions
193
What file must be maintained under CDM?
Health and safety file throughout project lifecycle
194
What must be provided for display screen equipment?
Suitable provision and assessment
195
What must be considered for manual handling?
Risk assessment and safe systems
196
What must be provided for workplace welfare?
Adequate facilities including hygiene and rest areas
197
What is required for work equipment provision?
Safe and suitable equipment with proper maintenance
198
What must be managed regarding workplace health?
Stress, bullying, and occupational health issues
199
What fire safety requirements exist?
Fire points, emergency arrangements, evacuation procedures
200
What template is provided in Surveying Safely?
Audit template to assist members
201
What does a public limited company account include?
Chairman's statement, independent auditor report, income statement, statement of financial position, corporate governance report, remuneration report, other statutory information
202
What is a balance sheet?
Statement of business's financial position showing assets and liabilities at given date
203
What can assets include in a balance sheet?
Cash, property, debtors and other investments held
204
What can liabilities include in a balance sheet?
Borrowings, overdrafts, loans and creditors
205
What is a profit and loss account?
Summary of business's income and expenditure transactions, usually prepared annually
206
What are management accounts?
Prepared for internal use by business and not audited
207
What are audited accounts?
Prepared by a Chartered Certified Accountant
208
What are consolidated accounts?
Number of individual subsidiary accounts for company within single set of accounts
209
What does a cash flow statement show?
All actual receipts and expenditure including VAT
210
What does IFRS 13 relate to?
Fair value lease accounting standard
211
How does IFRS 13 define fair value?
Price that would be received to sell asset or paid to transfer liability in orderly transaction between market participants
212
What does IFRS 16 relate to?
Lease accounting standard for International Financial Reporting Standards
213
What must be accounted for under IFRS 16?
Full cost of leases on balance sheet
214
What must be recognised as liability under IFRS 16?
Occupier's obligation to pay rent
215
How are service charge payments treated under IFRS 16?
Accounted for separately
216
What exemptions exist under IFRS 16?
Leases of 12 months or shorter
217
What should business planning include regarding time frames?
Short, medium and long term targets using range of marketing strategies
218
What key factors should be in a business plan?
Analysis of opportunities and risks, resources required to service clients
219
What analysis tool is useful for business planning?
SWOT analysis
220
What financial controls are important for business planning?
Budgets, cash flows and financial controls for correct allocation of resources
221
How can business monitor performance?
Key management tools and fee forecasts
222
What is the purpose of budgets in business planning?
Correct allocation of resources and expenditure control
223
What are fee forecasts used for?
Monitoring business performance
224
Why is cash flow important in business planning?
Ensures adequate resources for operations
225
What should be analyzed in business planning?
Opportunities and risks of the business
226
What resources should be considered in business planning?
Resources required to service clients effectively
227
How should marketing strategies be approached?
Using a range of strategies across different time frames
228
What is the role of financial controls?
Ensure proper allocation of resources and expenditure management
229
Why are management tools important?
To monitor performance and achieve objectives
230
What contributes to achieving corporate objectives?
Business planning activities
231
What should be included in income statements?
Summary of income and expenditure transactions
232
What is the statement of financial position?
Shows financial position at specific date (balance sheet)
233
What does corporate governance report cover?
How company is managed and controlled
234
What is included in remuneration report?
Details of executive and director compensation
235
What statutory information is required?
Legal and regulatory disclosures
236
Who prepares audited accounts?
Chartered Certified Accountant
237
What is the difference between management and audited accounts?
Management accounts for internal use, audited accounts externally verified
238
Why are consolidated accounts used?
To combine subsidiary accounts into single set
239
What does fair value measurement consider?
Market participant perspective at measurement date
240
How does IFRS 16 affect balance sheets?
Requires lease obligations to appear as liabilities
241
What business planning elements support decision making?
SWOT analysis, financial forecasts, risk assessment
242
How should resources be allocated?
Based on business priorities and client service requirements
243
What monitoring systems are needed?
Performance indicators, budgets, cash flow tracking
244
How should business risks be managed?
Through analysis, planning and control measures
245
What makes a good business plan?
Clear objectives, risk analysis, resource planning, monitoring systems
246
How should marketing be integrated into business planning?
Aligned with business objectives across time horizons
247
What financial information is most critical for decision making?
Cash
APC 2025
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