RICS Ethics Test key terms

The set of mandatory behavioural requirements that members and regulated firms must follow as a condition of membership, covering honesty, competence, service, and respect for others.

The document that sets out the ethical and professional standards expected of members, including the behaviours that support each rule of conduct and the public interest obligations attached to membership.

Acting honestly and consistently with stated principles, even when no one is watching and when doing so carries a personal or commercial cost.

Forming and expressing judgements on the basis of evidence and professional analysis, without being swayed by bias, personal interest, pressure, or the influence of others.

Possessing and maintaining the knowledge, skills, and experience needed to carry out an instruction properly, and declining work that falls outside that capability.

The duty not to disclose information obtained through professional work to third parties, except where the client consents, the law requires disclosure, or a recognised public interest justification applies.

A situation in which a member's personal, financial, or other interests, or duties owed to another party, could improperly influence professional judgement or harm a client's interests.

Freedom from relationships, financial ties, or pressures that could compromise objectivity, particularly when providing valuation, audit, or advisory opinions relied on by third parties.

Agreement given by a client or affected party after being told, in clear terms, about the relevant facts, risks, and any conflict, so that the decision is genuinely voluntary.

The level of care, investigation, and verification a competent professional would reasonably apply before giving advice, accepting an instruction, or certifying information.

An attitude of questioning assumptions and verifying assertions rather than accepting information at face value, especially where figures, instructions, or third-party claims appear unusual.

Telling the truth and not misleading others by omission, exaggeration, or silence, including when reporting findings, fees, or the limits of an instruction.

Making a false or misleading statement, or allowing one to stand, whether deliberately, recklessly, or negligently, which can expose the member and client to loss and disciplinary consequences.

Structured learning and reflection that members must undertake throughout their careers to keep technical knowledge and ethical awareness current and to demonstrate ongoing competence.

The written record of what a member will do, for whom, on what basis, for what fee, and on what assumptions and limitations, agreed before work begins.

The defined boundaries of an instruction, including the properties, dates, purpose, and reliance permitted, which prevents clients from using advice for unintended purposes.

Clear communication, before or at the point of engagement, of how charges are calculated and whether any commission, referral payment, or other benefit will be received.

Funds held on behalf of clients, which must be kept separately from the firm's own money, accounted for accurately, and handled under strict controls and reporting rules.

The controls, checks, and reporting obligations designed to prevent criminals from using professional services to disguise the origin of illicit funds or property.

The process of concealing or disguising the criminal origin of money or assets so that they appear legitimate, often through property purchases or professional intermediaries.

The process of identifying a client, verifying identity and beneficial ownership, and understanding the purpose of the relationship before and during an engagement.

Additional identity, source-of-funds, and background checks applied where the risk of money laundering or other financial crime is assessed as higher than normal.

An individual entrusted with a prominent public function, or a close associate or family member, who presents higher financial-crime risk and requires enhanced scrutiny.

A confidential report submitted to the relevant financial intelligence unit when a member knows, suspects, or has reasonable grounds to suspect criminal property or activity.

Disclosing to a client or others that a suspicious activity report has been made or that an investigation is underway, which is itself a criminal offence in many jurisdictions.

Offering, promising, giving, requesting, or accepting an advantage, financial or otherwise, to induce improper performance of a role or to gain a business or personal benefit.

A small payment made to speed up a routine action a public official is already obliged to perform, typically prohibited under anti-bribery policies even where local custom tolerates it.

Benefits offered or received in a business context, which must be recorded, proportionate, and refused where they could influence judgement or appear to do so.

The systems and behaviours that ensure a firm and its members meet the legal, regulatory, and professional requirements that apply to their work and reporting obligations.

A statutory body with legal powers to supervise an industry, set rules, investigate breaches, and impose sanctions such as fines or restrictions on practice.

A membership organisation that sets entry standards, publishes ethical codes, requires continuing development, and may investigate complaints about its members' conduct.

The formal process and sanctions applied when a member breaches conduct rules, ranging from a warning or fine to suspension or expulsion from membership.

A duty to notify a specified authority, regulator, or employer promptly when a member becomes aware of wrongdoing, a breach, or a suspicious circumstance that falls within prescribed categories.

Raising a concern about wrongdoing, risk, or malpractice inside or outside an organisation, with legal protection in many jurisdictions against retaliation when made in the public interest.

A disclosure made to an appropriate body where the public interest in revealing wrongdoing outweighs the duty of confidentiality owed to a client or employer.

The documented route by which a client can raise dissatisfaction and have it investigated fairly, which firms must operate and members must explain at the outset.

A warning sign or unusual pattern in a transaction or instruction that suggests heightened risk and requires further enquiry before proceeding.

A structured approach to resolving dilemmas by identifying the facts, affected parties, relevant rules, and possible consequences before choosing and recording a course of action.

The legal and ethical rules governing how personal information is collected, stored, shared, and secured, including obligations to keep it accurate and retain it only as long as needed.