RICS APC RICS Rules of Conduct & Ethics — Questions and Answers
Question 1: How many RICS Rules of Conduct are there that apply to both members and firms?
- 5 Rules of Conduct (Correct answer)
- 3 Rules of Conduct
- 10 Rules of Conduct
- 7 Rules of Conduct
Correct answer: 5 Rules of Conduct
RICS has 5 Rules of Conduct (effective January 2022) that apply to both individual members and regulated firms. These rules replace the previous separate sets and cover acting with integrity, maintaining competence, managing conflicts, treating clients fairly, and maintaining public trust.
Question 2: Which RICS Rule of Conduct requires members to maintain their professional competence and only undertake work for which they are competent?
- Rule 2 — Act with competence, care and respect (Correct answer)
- Rule 1 — Members and firms must be honest and act with integrity
- Rule 4 — Members and firms must treat others with respect
- Rule 5 — Members and firms must act in the public interest
Correct answer: Rule 2 — Act with competence, care and respect
Rule 2 of the RICS Rules of Conduct requires members and firms to act with competence, care, and respect. This means only taking on work you have the skill and knowledge to complete properly, keeping skills up to date through CPD, and treating colleagues, clients, and third parties respectfully.
Question 3: What does 'integrity' mean in the context of RICS professional ethics?
- Being honest, straightforward and transparent in all professional dealings, even when it is not in the member's personal interest (Correct answer)
- Ensuring all calculations in valuation reports are mathematically correct
- Only accepting clients whose instructions are legal
- Maintaining strict confidentiality in all circumstances without exception
Correct answer: Being honest, straightforward and transparent in all professional dealings, even when it is not in the member's personal interest
Integrity in RICS ethics means more than technical accuracy — it requires honesty in all professional relationships, transparency about limitations or conflicts, and the courage to give advice that the client may not want to hear. It underpins all five Rules of Conduct.
Question 4: What must an RICS member do if they identify a conflict of interest in a matter they have been asked to advise on?
- Disclose the conflict to all affected parties and either manage it with informed consent or decline to act (Correct answer)
- Proceed if they believe they can be objective and make no disclosure
- Immediately withdraw from the matter without informing the client of the reason
- Report the conflict to RICS before taking any action
Correct answer: Disclose the conflict to all affected parties and either manage it with informed consent or decline to act
RICS Rules of Conduct require members to disclose conflicts of interest promptly to all affected parties. If the conflict can be managed (with written consent from all parties), the member may proceed with appropriate safeguards. If it cannot be managed, the member must decline to act. Undisclosed conflicts are a serious disciplinary matter.
Question 5: What is the purpose of the RICS APC (Assessment of Professional Competence)?
- To assess whether a candidate has the knowledge, skills and behaviours required for RICS membership through a structured period of supervised experience and a final assessment (Correct answer)
- To test academic knowledge only through written examinations
- To renew existing RICS membership every 5 years
- To assess firms seeking RICS regulated status
Correct answer: To assess whether a candidate has the knowledge, skills and behaviours required for RICS membership through a structured period of supervised experience and a final assessment
The APC is the structured pathway from graduate to RICS Chartered Surveyor (MRICS) or Chartered Fellow (FRICS). It requires candidates to develop competencies through supervised practice, document their experience in a structured log, and demonstrate their competence at a final assessment interview with a panel of assessors.
Question 6: What does the RICS 'Ethics, Rules of Conduct and Professionalism' mandatory competency require APC candidates to demonstrate at Level 1?
- Understanding of the RICS Rules of Conduct, ethical principles, and ability to identify and handle ethical dilemmas (Correct answer)
- Completed application of ethics policies in a client transaction
- Publication of an ethics paper in an RICS journal
- Evidence of having reported a colleague's misconduct to RICS
Correct answer: Understanding of the RICS Rules of Conduct, ethical principles, and ability to identify and handle ethical dilemmas
Level 1 of the mandatory Ethics competency requires candidates to demonstrate understanding — they must know the Rules of Conduct, understand the ethical principles underpinning them, and show they can recognise ethical dilemmas that may arise in practice. Higher levels require demonstrated application and advice to others.
RICS APC RICS Rules of Conduct & Ethics
How many RICS Rules of Conduct are there that apply to both members and firms?