Ethical And Professional Standards - Ethical And Professional Standards Section 1
- Option : B
- Explanation : Laws can vary across jurisdictions. This may encourage questionable practices to move to places that are less restrictive in nature. Statements A and C are valid reasons for why the law alone might be insufficient to ensure ethical behavior.
Statement 1: An ethical decision framework helps decision-makers justify actions to stakeholders.
Statement 2: Too many choices can at best lead to inaction.
Statement 3: An ethical decision framework serves as a tool for investment professionals to choose the best possible alternative.
- Option : C
- Explanation : An investment professional should consider the risk to all stakeholders such as an employer, clients, family, and market participants while making decisions.
- Option : B
- Explanation : Statement A is a step once the decision is already made and Statement C is a step in the identification phase of the ethical decision-making process.
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