Investment Funds in Canada (IFIC) -
Chapter 18 questions with complete
solutions
What is the critical element in building a solid trusting relationship with a client?
Behaving in an ethical manner
What is ethics?
A set of moral values that guide behavior. Moral values are enduring beliefs that reflect standards of
what is right and what is wrong.
The code of ethics
Establishes norms based upon the principles of trust, integrity, justice, fairness, honesty, responsibility,
and reliability.
What are the 5 primary ethical values that the code of ethics encompasses?
* You must use proper care and exercise independent professional judgement.
* You must conduct yourself with trustworthiness and integrity, and act in an honest and fair manner in
all dealings with the public, clients, employers and colleagues.
*You must, and should encourage others to, conduct business in a professional manner that will reflect
positively on themselves, their firms and their profession.
* You must act in accordance with the regulations of the province or provinces in which your registration
is held and the requirements of all Self-Regulatory Organizations (SROs) of which your firm is a member
must be observed.
* You must hold client information in the strictest confidence.
Chapter 18 questions with complete
solutions
What is the critical element in building a solid trusting relationship with a client?
Behaving in an ethical manner
What is ethics?
A set of moral values that guide behavior. Moral values are enduring beliefs that reflect standards of
what is right and what is wrong.
The code of ethics
Establishes norms based upon the principles of trust, integrity, justice, fairness, honesty, responsibility,
and reliability.
What are the 5 primary ethical values that the code of ethics encompasses?
* You must use proper care and exercise independent professional judgement.
* You must conduct yourself with trustworthiness and integrity, and act in an honest and fair manner in
all dealings with the public, clients, employers and colleagues.
*You must, and should encourage others to, conduct business in a professional manner that will reflect
positively on themselves, their firms and their profession.
* You must act in accordance with the regulations of the province or provinces in which your registration
is held and the requirements of all Self-Regulatory Organizations (SROs) of which your firm is a member
must be observed.
* You must hold client information in the strictest confidence.
