"morality" exercise:Responsibility of investment industry
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Questions 1:
Firms claiming GIPS compliance must make every reasonable effort to provide a compliant presentation to which of the following?
A、 Existing clients
B 、Prospective clients
C 、Both existing and prospective clients
Questions 2:
A research analyst is facing a moral dilemma and decides to use an ethical decision-making framework. After looking at the facts at hand and identifying the situational influences, he still cannot make a decision on the best course of action. His least appropriate next step is to:
A 、determine what additional information is needed.
B 、decide, act, monitor, and reflect.
C 、ask someone else to give guidance.
B is correct because GIPS standards (0.A.9) state “firms must make every reasonable effort to provide a compliant presentation to all prospective clients.” As long as a prospective client has received a compliant presentation within the previous 12 months, the firm has met this requirement. It is a GIPS recommendation, not a requirement, that all clients receive a compliant presentation on an annual basis (0.B.4).
A is incorrect because firms are not required to provide a complaint presentation to existing clients, only prospective clients. However, it is a recommendation that existing clients receive at least annually a compliant presentation.
C is incorrect because firms are not required to provide a complaint presentation to existing clients, only prospective clients. However, it is a recommendation that existing clients receive at least annually a compliant presentation.
B is correct. The least appropriate action would be for the decision maker to go ahead and make a decision based on insufficient information. By doing so, the decision maker could cause harm and make the situation worse. The ethical decision-making framework is iterative, and users can move between phases rather than undertaking them in any one order. If a decision maker is not yet ready to make a decision, the most appropriate course of action would be to ask someone else to give guidance and determine what additional information is needed to clarify the situation.
A is incorrect. If a decision maker is not yet ready to make a decision the most appropriate course of action would be to ask someone else to give guidance and determine what additional information is needed to clarify the situation.
C is incorrect. If a decision maker is not yet ready to make a decision the most appropriate course of action would be to ask someone else to give guidance and determine what additional information is needed to clarify the situation.
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