CBV Module 2 Exam Level 1 Questions & Answers 2024/2025

CBV Module 2 Exam Level 1 Questions & Answers 2024/2025 1. The specific standards established by the CICBV's Code of Ethics are premised on a number of ethical principles with respect to the acceptable professional conduct required of a Member or student. Identify the types of matters that these ethical principles cover. - ANSWERSSection 2.1.1 -personal / professional conduct which may affect the member's / CICBV's reputation. -performance of professional services -independence and objectivity -conflict of client information -dealings with other members 2. The Practice Standards set out the minimum requirements that all Members are required to follow. Identify the areas of professional practice covered by the x10, x20 and x30 sections of the Practice Standards. - ANSWERSSection 2.3 The following sections of the Practice Standards are: -x10: Report disclosure standards -x20: Scope of work standards -x30: File documentation standards 3. True or False: a. The Code of Ethics requires that Members undertake continuing education on an annual basis. - ANSWERSFalse - it is the CICBV By-Laws that dictate Members' continuing education requirements (By-Laws, Section 4) 3. True or False: b. If a Member retains a non-Member to work on an engagement, the retaining Member must take reasonable efforts to ensure that the Non-Member abides by the By-Laws, Code of Ethics and Practice Standards of the Institute. - ANSWERSTrue - (Code of Ethics, Section 101.2)