Ethical and Professional Standards
Practice Questions With Correct
Answers.
Ethics is least likely: - Answer the careful following of all laws and regulations.
Simply following all laws and regulations is not as high a standard as ethical behavior. Ethical principles
typically involve more judgment than laws or regulations.
A code of ethics: - Answer specifies a minimum level of acceptable conduct.
A code of ethics specifies a minimum level of acceptable conduct for a group or organization, whereas
"best practices" are suggested behavior, not a minimum acceptable level.
A professional code of conduct: - Answer can increase public trust in the profession.
A professional code of conduct communicates to the public that members have promised to uphold a
minimum level of ethical conduct when acting for clients. This is no guarantee that all members will
follow the code at all times. A code of conduct may include specific standards of behavior or only state
principles of conduct without specific standards or guidance.
Situational factors that influence ethical behavior are least likely to include: - Answer a lack of ethical
principles.
Situational factors are those external to the decision makers, such as financial rewards and desire to
please coworkers or others. Researchers have found that external factors are often more likely than a
lack of personal ethics to lead to poor ethical decisions.
, Compared to complying with laws and regulations, complying with a code of ethics: - Answer often
involves more judgment.
A code of ethics is considered a higher standard of behavior as it goes beyond simply legality of behavior.
Compliance with the ethical principles of a code of ethics often requires judgment in balancing the
interests of various stakeholders and consideration of short-term effects with longer-term effects of
decisions. Some behavior that is illegal, such as civil disobedience or "whistle-blowing," is considered to
be ethical behavior by many.
Employing a framework for decision making that includes the ethical aspects of the decision is most
likely to: - Answer balance the interests of various stakeholders.
A decision-making framework that includes the ethical aspects of the decision should consider the
conflicts among the interests of various stakeholders so that decision makers can use the company's
stated ethical principles and their judgment to balance these interests in an ethical manner. Profit
maximization, at least in the short term, does not necessarily follow from sound ethical judgment. While
integrating ethics into the decision-making process can consider and reduce unintended ethical
consequences of a decision, avoiding them altogether can never be assured.
Challenges to ethical behavior are most likely to arise from: - Answer Situational Influences
Situational influences, which are factors external to a decision maker, are the most likely source of
challenges to ethical behavior.
(Study Session 1, Module 1.1, LOS 1.c)
A framework for ethical decision making is most appropriately applied to: - Answer C)
aid decision makers in considering alternatives and their potential impacts.
A framework for ethical decision making is a way to help decision makers consider alternatives and their
impact on stakeholders.
Which of the following statements about legal and ethical standards is most accurate? - Answer Ethical
and legal standards often intersect, but not always.
Practice Questions With Correct
Answers.
Ethics is least likely: - Answer the careful following of all laws and regulations.
Simply following all laws and regulations is not as high a standard as ethical behavior. Ethical principles
typically involve more judgment than laws or regulations.
A code of ethics: - Answer specifies a minimum level of acceptable conduct.
A code of ethics specifies a minimum level of acceptable conduct for a group or organization, whereas
"best practices" are suggested behavior, not a minimum acceptable level.
A professional code of conduct: - Answer can increase public trust in the profession.
A professional code of conduct communicates to the public that members have promised to uphold a
minimum level of ethical conduct when acting for clients. This is no guarantee that all members will
follow the code at all times. A code of conduct may include specific standards of behavior or only state
principles of conduct without specific standards or guidance.
Situational factors that influence ethical behavior are least likely to include: - Answer a lack of ethical
principles.
Situational factors are those external to the decision makers, such as financial rewards and desire to
please coworkers or others. Researchers have found that external factors are often more likely than a
lack of personal ethics to lead to poor ethical decisions.
, Compared to complying with laws and regulations, complying with a code of ethics: - Answer often
involves more judgment.
A code of ethics is considered a higher standard of behavior as it goes beyond simply legality of behavior.
Compliance with the ethical principles of a code of ethics often requires judgment in balancing the
interests of various stakeholders and consideration of short-term effects with longer-term effects of
decisions. Some behavior that is illegal, such as civil disobedience or "whistle-blowing," is considered to
be ethical behavior by many.
Employing a framework for decision making that includes the ethical aspects of the decision is most
likely to: - Answer balance the interests of various stakeholders.
A decision-making framework that includes the ethical aspects of the decision should consider the
conflicts among the interests of various stakeholders so that decision makers can use the company's
stated ethical principles and their judgment to balance these interests in an ethical manner. Profit
maximization, at least in the short term, does not necessarily follow from sound ethical judgment. While
integrating ethics into the decision-making process can consider and reduce unintended ethical
consequences of a decision, avoiding them altogether can never be assured.
Challenges to ethical behavior are most likely to arise from: - Answer Situational Influences
Situational influences, which are factors external to a decision maker, are the most likely source of
challenges to ethical behavior.
(Study Session 1, Module 1.1, LOS 1.c)
A framework for ethical decision making is most appropriately applied to: - Answer C)
aid decision makers in considering alternatives and their potential impacts.
A framework for ethical decision making is a way to help decision makers consider alternatives and their
impact on stakeholders.
Which of the following statements about legal and ethical standards is most accurate? - Answer Ethical
and legal standards often intersect, but not always.
