MGRADES EXAMS
RICS – General UPDATED Exam
Questions and CORRECT Answers
0-100k - £250k cover
100-200k - £500k cover
200k plus - £1m - CORRECT ANSWER - What are the thresholds for PI cover based on
turnover?
Net - CORRECT ANSWER - Is the turnover net or gross?
What are the RICS rules of conduct? - CORRECT ANSWER - Two separate documents -
Members/Firms
Firms -
PII
CHP
Professionalism
Competence
Clients Money
CPD
Members -
Competence
Integrity
CPD
RICS Comparable Evidence in Property Valuation - CORRECT ANSWER - Sets out how to
rank, record and analyse commercial property.
, MGRADES EXAMS
Includes hierarchy of evidence
Explain the hierarchy of evidence? - CORRECT ANSWER - Offer made on property
Comparable OML
Lease Renewals
Rent Reviews
Expert Witness Reports
Auctions
Inter-company Transactions
President - Amanda Clack
Privy Council (Royal Charter)
Governing Council
Various Boards
Professional Groups - CORRECT ANSWER - What is the governance structure of the RICS?
High Training Standards
Protecting Consumers through quality
Leading source of property info - CORRECT ANSWER - What are the three main roles of the
RICS?
PACTT
Proportionality (penalties)
Accountability (to members/public)
Consistency (treating every member the same)
Targeting (serious breaches)
RICS – General UPDATED Exam
Questions and CORRECT Answers
0-100k - £250k cover
100-200k - £500k cover
200k plus - £1m - CORRECT ANSWER - What are the thresholds for PI cover based on
turnover?
Net - CORRECT ANSWER - Is the turnover net or gross?
What are the RICS rules of conduct? - CORRECT ANSWER - Two separate documents -
Members/Firms
Firms -
PII
CHP
Professionalism
Competence
Clients Money
CPD
Members -
Competence
Integrity
CPD
RICS Comparable Evidence in Property Valuation - CORRECT ANSWER - Sets out how to
rank, record and analyse commercial property.
, MGRADES EXAMS
Includes hierarchy of evidence
Explain the hierarchy of evidence? - CORRECT ANSWER - Offer made on property
Comparable OML
Lease Renewals
Rent Reviews
Expert Witness Reports
Auctions
Inter-company Transactions
President - Amanda Clack
Privy Council (Royal Charter)
Governing Council
Various Boards
Professional Groups - CORRECT ANSWER - What is the governance structure of the RICS?
High Training Standards
Protecting Consumers through quality
Leading source of property info - CORRECT ANSWER - What are the three main roles of the
RICS?
PACTT
Proportionality (penalties)
Accountability (to members/public)
Consistency (treating every member the same)
Targeting (serious breaches)
