CQIB FINAL PAPER 2025/2026 QUESTIONS WITH
ANSWERS RATED A+
✔✔Virtue-based ethics - ✔✔practices the idea that if we can identify what it would be
like if we lived up to our own standards and every decision we made moved us towards
being the best version of ourselves
✔✔Metacognition - ✔✔Thinking about thinking
✔✔Consequentialism - ✔✔The right decision is the one that brings the most benefit and
least harm CONSEQUENCES
✔✔Ethical Egoism - ✔✔An action is morally right if the outcomes are more favourable
than unfavourable
✔✔Ethical Altruism - ✔✔An action is morally right is the outcomes are more favourable
than unfavourable for everyone except the person doing the action
✔✔Utilitarism - ✔✔An action is morally right if the outcome if more favourable than
unfavourable for everyone
✔✔implications to consequentialism - ✔✔the ends justifies the means
✔✔Who created Deontolgy - ✔✔KANT
✔✔What is deontology - ✔✔You must do what is your duty, whether you want to or not
✔✔Rules of Deontology - ✔✔1. Anything you will for yourself you must will unto others
2. Do not use people for a means to an end
✔✔Influences on decision making: - ✔✔1. Intuition
2. Fast and slow thinking
3. Expediancy
4. do nothing
5. framing
6. Group conformity
7. Not thinking
✔✔Resources for making better decisions: - ✔✔1. Subject matter experts
2. Peers/ mentors/ leaders
3. Independent guidance
✔✔5 step process for ethical dilemmas - ✔✔1. recognise
2. facts
, 3. discuss
4. act
5. review
✔✔algortithm - ✔✔procedure for solving a problem based on conducting a sequence of
specified actions
✔✔Moral agent - ✔✔A being who has the ability to determine right from wrong and
make a judgement based on experience, seeking further information or gaining a
second opinion
✔✔When are we morally responsible - ✔✔1. If we are casually responsible for the
effects or lack of effects bought about by our actions
2. If we intentionally bought about the effects or could have forseen them
3. the effects are morally important
✔✔Features of a profession; - ✔✔1. specialised knowledge or skills, may be barriers to
entry
2. professional body that is membership based
3. obligation to comply
✔✔Professional network for bankers - ✔✔NZ financial markets association
✔✔Rules based approach - ✔✔Prescriptive
Outline consequences for breaches
Does not cover every situation
✔✔Principle based approach: - ✔✔Broad
Refer to acting in the publics interest, adopting ethical principals, a frameworks which
discusses safeguards and threats of non compliance
✔✔Threats to professionalism: - ✔✔Self interest
Self review
Intimidation
Advocacy
Familiarity
✔✔Many codes are a mixture of - ✔✔presciptive and rules
✔✔safeguards to professionalism threats - ✔✔New entrants must meet minimum
requirements
Continuing professional development
Adherence to governance regulations
Abiding by industry professional standards
Disciplinary procedures
ANSWERS RATED A+
✔✔Virtue-based ethics - ✔✔practices the idea that if we can identify what it would be
like if we lived up to our own standards and every decision we made moved us towards
being the best version of ourselves
✔✔Metacognition - ✔✔Thinking about thinking
✔✔Consequentialism - ✔✔The right decision is the one that brings the most benefit and
least harm CONSEQUENCES
✔✔Ethical Egoism - ✔✔An action is morally right if the outcomes are more favourable
than unfavourable
✔✔Ethical Altruism - ✔✔An action is morally right is the outcomes are more favourable
than unfavourable for everyone except the person doing the action
✔✔Utilitarism - ✔✔An action is morally right if the outcome if more favourable than
unfavourable for everyone
✔✔implications to consequentialism - ✔✔the ends justifies the means
✔✔Who created Deontolgy - ✔✔KANT
✔✔What is deontology - ✔✔You must do what is your duty, whether you want to or not
✔✔Rules of Deontology - ✔✔1. Anything you will for yourself you must will unto others
2. Do not use people for a means to an end
✔✔Influences on decision making: - ✔✔1. Intuition
2. Fast and slow thinking
3. Expediancy
4. do nothing
5. framing
6. Group conformity
7. Not thinking
✔✔Resources for making better decisions: - ✔✔1. Subject matter experts
2. Peers/ mentors/ leaders
3. Independent guidance
✔✔5 step process for ethical dilemmas - ✔✔1. recognise
2. facts
, 3. discuss
4. act
5. review
✔✔algortithm - ✔✔procedure for solving a problem based on conducting a sequence of
specified actions
✔✔Moral agent - ✔✔A being who has the ability to determine right from wrong and
make a judgement based on experience, seeking further information or gaining a
second opinion
✔✔When are we morally responsible - ✔✔1. If we are casually responsible for the
effects or lack of effects bought about by our actions
2. If we intentionally bought about the effects or could have forseen them
3. the effects are morally important
✔✔Features of a profession; - ✔✔1. specialised knowledge or skills, may be barriers to
entry
2. professional body that is membership based
3. obligation to comply
✔✔Professional network for bankers - ✔✔NZ financial markets association
✔✔Rules based approach - ✔✔Prescriptive
Outline consequences for breaches
Does not cover every situation
✔✔Principle based approach: - ✔✔Broad
Refer to acting in the publics interest, adopting ethical principals, a frameworks which
discusses safeguards and threats of non compliance
✔✔Threats to professionalism: - ✔✔Self interest
Self review
Intimidation
Advocacy
Familiarity
✔✔Many codes are a mixture of - ✔✔presciptive and rules
✔✔safeguards to professionalism threats - ✔✔New entrants must meet minimum
requirements
Continuing professional development
Adherence to governance regulations
Abiding by industry professional standards
Disciplinary procedures
