AICPA Ethics Code Exam

AICPA Ethics Code Exam Question And
Answers


Which zstep zin zthe zdecision-making zmodel zis zcharacterized zby zasking zthe zquestion, z"Are zthese zopinions
zconsistent zwith zapplicable zprofessional zethics zrules, zregulations, zand zlaws?"



A. zRecognize zethical zissues

B. zGather zcritical zfacts

C. zConsider zthe zeffect zon zstakeholders z

D. zConsider zrules, zregulations, zand zlaws z- zAnswer z- zD. zConsider zrules, zregulations, zand zlaws z

Step z7 zasks zthis zquestion. zYou zmay zdetermine zthat zthe zgreatest zbenefit zand zleast zamount zof zharm
zwould zlikely zresult zif zyou ztake za zparticular zcourse zof zaction, zbut zif zthat zcourse zof zaction zis zinconsistent

zwith zthe zprofession's zrules zof zconduct, zyou zmay znot zignore zthose zrules.



Which zstep zin zthe zdecision-making zmodel zis zcharacterized zby zasking zthe zquestion, z"If zyou zhad zto
zdiscuss zyour zdecision zin zpublic, zwould zyou zbe zconcerned zabout zhow zit zreflects zon zyour zethics"



A. zRecognize zethical zissues

B. zConsider zyour zcomfort zlevel z

C. zConsider zthe zeffect zon zstake zholders z

D. zConsider zrules, zregulations, zand zlaws z- zAnswer z- zB. zConsider zyour zcomfort zlevel z

Step z6 zasks zyou zto zconsider zyour zcomfort zlevel. zBefore zyou zmake za zdecision zabout zthe zcorrect zaction
zwhen zfacing zan zethical zissue, zyou zshould zask zyourself zsome zquestions.



CPAs zmust zfollow zthe zrules zand zstandards zpromulgated zby zwhich zbody?

A. zAICPA

B. zSEC

C. zPCAOB

D. zYour zstate zCPA zlicensing zboard z- zAnswer z- zD. zYour zstate zCPA zlicensing zboard z

, State zCPA zlicensing zboards zare zcharged zwith zissuing zCPA zlicenses zand zoverseeing zthe zethical zconduct zof
zCPAs zin z55 zjurisdictions zin zthe zUnited zStates. zIt zis zcritically zimportant zfor zCPAs zto zknow ztheir zstate

zboard's zrequirements. zIf zyou zare zlicensed zby zmore zthan zone zstate zboard, zyou zshould zfamiliarize

zyourself zwith zeach zstate's zrequirements.



As za zprofessional zCPA, zI zhave zthe zgreatest zresponsibility zto zserve:

A. zMy zclients

B. zMy zbest zinterest z

C. zThe zpublic's zinterest z

D. zMy zsuperior's zinterest z- zAnswer z- zC. zYour zprimary zresponsibility zis zto zserve zthe zpublic zinterest.

As za zprofessional zCPA, zI zhave za zresponsibility zto zmaintain zand zbroaden zpublic zconfidence zby
zperforming zall zmy zresponsibilities zwith:



A. zIntegrity

B. zSpeed

C. zAgility

D. zPerfection z- zAnswer z- zA. zIntegrity z

Integrity zis zone zof zthe zcornerstones zof zour zprofession.

I zalso zmust zmaintain zmy zobjectivity, zbe zfree zof zconflicts zof zinterest, zand zdischarge zall zof zmy
zresponsibilities zwith zdue...



A. zRespect

B. zCare

C. zDiligence

D. zSpeed z- zAnswer z- zB. zCare

Due zcare zimplies za zcertain zlevel zof zquality zand zcompetence zin zthe zperformance zof zservices.

Bob zis za zCPA zwho zworks zas zas zsenior zaccountant zin za zsmall zbut zdiversified zfinancial zservices zcompany.
zBob zworks zfor zthe zparent zcompany z(bank) zin za zdivision zthat zmakes zbusiness zloans. zHis zmother zhas

zbeen zoffered za zseat zon zthe zboard zof zdirectors zof za zsubsidiary zcompany zthat zis zan zinvestment zadvisor. z



Does zBob's zsituation zcause za zsignificant zthreat zto zBob's zintegrity zand zobjectivity z(conflict zof zinterest)?

A. zNo. zThe zbank zand zinvestment zadvisory zfirm zare zseparate zand zdistinct zbusinesses

B. zYes. zDirectorships zof zrelatives zalways zresult zin zconflicts zof zinterest

C. zMaybe. zBut zmore zfacts zshould zbe zconsidered z- zAnswer z- zC. zMaybe. zBut zmore zfacts zshould zbe
zconsidered z