AICPA Ethics Code Exam
1. Which step in the decision-making model is
characterized by asking the question, "Are these opinions
consistent with applicable professional ethics rules,
regulations, and laws?"
A. Recognize ethical issues
B. Gather critical facts
C. Consider the effect on stakeholders
D. Consider rules, regulations, and laws: D. Consider rules,
regulations, and laws Step 7 asks this question. You may
determine that the greatest benefit and least amount of harm
would likely result if you take a particular course of action, but if
that course of action is inconsistent with the profession's rules of
conduct, you may not ignore those rules.
,2. Which step in the decision-making model is
characterized by asking the question, "If you had to
discuss your decision in public, would you be con- cerned
about how it reflects on your ethics"
A. Recognize ethical issues
B. Consider your comfort level
C. Consider the effect on stake holders
D. Consider rules, regulations, and laws: B. Consider your
comfort level
Step 6 asks you to consider your comfort level. Before you make a
decision about the correct action when facing an ethical issue, you
should ask yourself some questions.
3. CPAs must follow the rules and standards promulgated
by which body? A. AICPA
B. SEC
C. PCAOB
D. Your state CPA licensing board: D. Your state CPA licensing
board
,State CPA licensing boards are charged with issuing CPA
licenses and overseeing the ethical conduct of CPAs in 55
jurisdictions in the United States. It is critically important for
CPAs to know their state board's requirements. If you are
licensed
by more than one state board, you should familiarize
yourself with each state's requirements.
4. As a professional CPA, I have the greatest
responsibility to serve: A. My clients
B. My best interest
C. The public's interest
D. My superior's interest: C. Your primary responsibility is
to serve the public interest.
5. As a professional CPA, I have a responsibility to
maintain and broaden public confidence by performing
all my responsibilities with:
A. Integrity
, B. Speed
C. Agility
D. Perfection: A. Integrity
Integrity is one of the cornerstones of our profession.
6. I also must maintain my objectivity, be free of
conflicts of interest, and discharge all of my
responsibilities with due...
A. Respect
B. Care
C. Diligence
D. Speed: B. Care
Due care implies a certain level of quality and competence in
the performance of services.
7. Bob is a CPA who works as as senior accountant in a
small but diversified financial services company. Bob works
for the parent company (bank) in a division that makes
business loans. His mother has been offered a seat on the
1. Which step in the decision-making model is
characterized by asking the question, "Are these opinions
consistent with applicable professional ethics rules,
regulations, and laws?"
A. Recognize ethical issues
B. Gather critical facts
C. Consider the effect on stakeholders
D. Consider rules, regulations, and laws: D. Consider rules,
regulations, and laws Step 7 asks this question. You may
determine that the greatest benefit and least amount of harm
would likely result if you take a particular course of action, but if
that course of action is inconsistent with the profession's rules of
conduct, you may not ignore those rules.
,2. Which step in the decision-making model is
characterized by asking the question, "If you had to
discuss your decision in public, would you be con- cerned
about how it reflects on your ethics"
A. Recognize ethical issues
B. Consider your comfort level
C. Consider the effect on stake holders
D. Consider rules, regulations, and laws: B. Consider your
comfort level
Step 6 asks you to consider your comfort level. Before you make a
decision about the correct action when facing an ethical issue, you
should ask yourself some questions.
3. CPAs must follow the rules and standards promulgated
by which body? A. AICPA
B. SEC
C. PCAOB
D. Your state CPA licensing board: D. Your state CPA licensing
board
,State CPA licensing boards are charged with issuing CPA
licenses and overseeing the ethical conduct of CPAs in 55
jurisdictions in the United States. It is critically important for
CPAs to know their state board's requirements. If you are
licensed
by more than one state board, you should familiarize
yourself with each state's requirements.
4. As a professional CPA, I have the greatest
responsibility to serve: A. My clients
B. My best interest
C. The public's interest
D. My superior's interest: C. Your primary responsibility is
to serve the public interest.
5. As a professional CPA, I have a responsibility to
maintain and broaden public confidence by performing
all my responsibilities with:
A. Integrity
, B. Speed
C. Agility
D. Perfection: A. Integrity
Integrity is one of the cornerstones of our profession.
6. I also must maintain my objectivity, be free of
conflicts of interest, and discharge all of my
responsibilities with due...
A. Respect
B. Care
C. Diligence
D. Speed: B. Care
Due care implies a certain level of quality and competence in
the performance of services.
7. Bob is a CPA who works as as senior accountant in a
small but diversified financial services company. Bob works
for the parent company (bank) in a division that makes
business loans. His mother has been offered a seat on the
