Ethics

Question 1

Define:

Code of ethics

Answer 1

An established guide for an organization’s values and expectations regarding member behavior.

Question 2

Define:

Ethical principles

Answer 2

Beliefs regarding what is good or acceptable behavior and what is not.

Question 3

Define:

Ethics

Answer 3

The study of the set of principles, values, and moral guidelines that govern and influence human behavior and decision-making.

Question 4

Define:

Moral principles

Answer 4

Personal beliefs about what is good regarding behaviour and decision making, and what is not.

Question 5

Define:

Standards of conduct

Answer 5

• Behaviors required by a group.
• Established benchmarks which clarify a group’s code of ethics.

Question 6

Define:

Fiduciary

Answer 6

Entity which has a legal and ethical obligation to act in the best interests of a beneficiary while managing the beneficiary’s assets.