To become an RICS Registered Fixed Charge Receiver you must have either of the following:
- You must have been appointed on at least one fixed charge case and have a minimum of 75 hours experience on such work over the last three years;
- You must have worked on, but not taken in your own name, appointments for at least five cases over the preceding five years and have a minimum of 75 hours experience on such work over the last three years (such experience will have to be confirmed by the relevant appointee);
- You already hold a full Insolvency Licence.
All applicants will be required to pass and entrance examination consisting of two parts:
- Part A will be multiple choice questions to test your general Insolvency knowledge
- Part B is written questions to test specific LPA/Non Administrative Receivership Knowledge
Candidates are required to pass both A and B before attending a peer interview.
Examinations take place every summer and are organised by IPA. Results are normally known by the August of the same year.
Once you become an RICS-registered Fixed Charge Receiver you will be required to complete an additional five hours CPD per annum relating to non-administrative receivership.
You will also be subject to a monitoring visit at least once every three years run by ACCA.
Registration under the scheme last for a period of 12 months. All members of the scheme receive a certificate each year they are a member of the scheme.
Membership of the scheme also includes mandatory membership to NARA, the trade body for the scheme. For further information on the courses run please visit the NARA website.
An application form and supporting papers are available to download from this page. A specimen exam pilot paper is also available, contact fcrs@rics.org.
