道德.docx
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1、Ethic s 1. Benchmarks for minimally acceptable behaviors of community members are: A. a code of ethics. B. laws and regulations. C. standards of conduct.C is correct. Standards of conduct are applied to specific communities or societal groups and identify specific behaviors required of community mem
2、bers. These standards of conduct serve as benchmarks for the minimally acceptable behavior of community members. Codes of ethics serve as a general guide for how community members should act; they communicate the organizations values and overall expectations regarding member behavior, but they do no
3、t identify specific behaviors required of community members. Laws and regulations are rules of conduct defined by governments and related entities about obligatory and forbidden conduct broadly applicable for individuals and entities under their jurisdiction.2. Specialized knowledge and skills, a co
4、mmitment to serve others, and a shared code of ethics best characterize a(n): A. vocation. B. profession. C. occupation.B is correct. A profession has several characteristics that distinguish it from an occupation or vocation, such as specialized knowledge and skills, service to others, and a code o
5、f ethics shared by its members. A profession is the ultimate evolution of an occupation, resulting from excellence in practice and expected adherence to a code of ethics and standards of practice.3. Which of the following best identifies an internal trait that may lead to poor ethical decision makin
6、g? A. Overconfidence B. Loyalty to employer C. Promise of money or prestigeA is correct. An overconfidence bias can lead individuals to put too much importance on internal traits and intrinsic motivations, such as their own perceptions of personal honesty, that can lead to faulty decision making. Lo
7、yalty to an employer and promise of money or prestige are situational influences that can lead to faulty decision making.4. Situational influences in decision making will most likely be minimized if: A. strong compliance programs are in place. B. longer-term consequences are considered. C. individua
8、ls believe they are truthful and honest.B is correct. Consciously considering long-term consequences will help offset situational influences. We more easily recognize and consider short-term situational influences than longer-term considerations because longer-term considerations have fewer immediat
9、e consequences than situational influences do. When decision making is too narrowly focused on short-term factors, we tend to ignore longer-term risks and consequences, and the likelihood of poor ethical decision making increases. A strong compliance policy is a good first step toward developing an
10、ethical culture; a focus on rules adherence may not be sufficient. Emphasis on compliance may not encourage decision makers to consider the larger picture and can oversimplify decision making. Taken to the extreme, a strong compliance culture can become another situational influence that blinds empl
11、oyees to other important considerations. An overconfidence bias can place too much importance on internal traits and intrinsic motivations, such as “Im honest and would not lie,” even though studies have shown that internal traits are generally not the main determinant of whether or not someone will
12、 behave ethically in a given situation.5. Decision makers who use a compliance approach are most likely to: A. avoid situational influences. B. oversimplify decision making. C. consider more factors than when using an ethical decision-making approach.B is correct. A compliance approach can oversimpl
13、ify decision making and may not encourage decision makers to consider the larger picture. A strong compliance culture may be a good start in developing an ethical culture but can become another situational influence that may result in employees failing to consider other important factors.6. When une
14、thical behavior erodes trust in an investment firm, that firm is more likely to experience: A. lower revenues only. B. higher expenses only. C. lower revenues and higher expenses.C is correct. Unethical behavior ultimately harms investment firms. Clients are not attracted if they suspect unethical b
15、ehavior, leading to less business and lower revenues. Investment firms may also experience higher relative costs because regulators aremore likely to have cause to initiate costly investigations.7. Which is an example of an activity that may be legal but that CFA Institute considers unethical? A. Ma
16、king legally required disclosures in marketing materials B. Trading while in possession of material nonpublic information C. Disclosure by an employee of his or her own companys dishonest activityB is correct. The investment industry has examples of conduct that may be legal but that CFA Institute c
17、onsiders unethical. Trading while in possession of material nonpublic information is not prohibited by law worldwide and can, therefore, be legal, but CFA Institute considers such trading unethical.8. An ethical decision-making framework will most likely: A. include a pre-determined, uniform sequenc
18、e. B. focus exclusively on confirmable facts and relationships. C. help avoid a decision that has unanticipated ethical consequences.C is correct. Using an ethical decision-making framework consistently will help you develop sound judgment and decision-making skills and avoid making decisions that h
19、ave unanticipated ethical consequences. The decision-making process is often iterative, and the decision maker may move between phases of the framework. A decision maker should consider more than confirmable facts and relationships; for example, the decision maker should consider situational influen
20、ces and personal biases.9. Smith, a research analyst with a brokerage firm, decides to change his recommendation for the common stock of Green Company, Inc., from a “buy” to a “sell.” He mails this change in investment advice to all the firms clients on Wednesday. The day after the mailing, a client
21、 calls with a buy order for 500 shares of Green Company. In this circumstance, Smith should: A. Accept the order. B. Advise the customer of the change in recommendation before accepting the order. C. Not accept the order because it is contrary to the firms recommendation.The correct answer is B. Thi
22、s question involves Standard III(B)Fair Dealing. Smith disseminated a change in the stock recommendation to his clients but then received a request contrary to that recommendation from a client who probably had not yet received the recommendation. Prior to executing the order, Smith should take addi
23、tional steps to ensure that the customer has received the change of recommendation. Answer A isincorrect because the client placed the order prior to receiving the recommendation and, therefore, does not have the benefit of Smiths most recent recommendation. Answer C is also incorrect; simply becaus
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