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level: Ethics and Professionalism

Questions and Answers List

level questions: Ethics and Professionalism

Question	Answer
The judgment of the goodness or badness of human action and character. Knowing the difference between right and wrong. Taught to children by parents and society	Morals
Principals or standards of behavior; one’s judgment of what is important in life	Values
The study of the general nature of morals and of the specific moral choices to be made by a person. A system of moral values	Ethics
The study and evaluation of decision making by businesses according to moral concepts and judgments	Business Ethics
The written rules on ethical behavior for professionals	Professional Code of Conduct
Conforming to the standards of a profession	Professional Behavior
This act was passed to regulate the giving of advice to clients in the financial industry. The Act has its own code of conduct and it describes who can work as an advisor, the duties of financial service providers and intermediaries, and the qualifications required to work as an advisor	Financial Advisory and Intermediaries Services Act 37 of 2002 (FAIS)
This Act was passed to establish a Financial Intelligence Centre and Money Laundering Council to combat money laundering. The Act also places duties on institutions and individuals who may be used to launder money.	Financial Intelligence Center Act 38 of 2001 (FICA)
This Act was passed to establish a Competition Commission and Tribunal and Appeal Court in order to investigate, control, and evaluate restrictive practices, dominant positions, and mergers in South African business	Competition Act 89 of 1998