Values Clarification Quiz

Which of the following is NOT considered a core value in the securities industry?

What could be compromised if an RR lacks integrity, trust, honesty, or competency?

What makes it difficult to define the meaning of a particular value according to the text?

What is critically important for individuals and companies according to the text?

What is the process of becoming aware of the values that drive your day-to-day decisions and behaviour?

What are end values in the context of personal goals?

Which type of value system is one in which end values and means values mutually reinforce and support each other?

Why do people and corporations get into trouble according to the text?

What is the main focus of ethical managers according to the text?

Why is it important for a company to articulate new sets of ethically tuned standards?

What does Wealth Makers Securities Inc. (WMS) expect from its RRs?

What is the result of ethically tuned employees doing the right thing for fear of punishment?

What is the main focus of laws?

What is the primary concern of ethics?

Why is it important to have a strong code of ethics?

What is a common example of the legal-versus-ethical dilemma?

What role do ethics play in the securities industry, according to the text?

Why is it important to have an effective ethics program in the securities industry?

What do ethics represent, as defined in the text?

What should individuals strive to maintain and improve in the context of professional conduct?

How are laws related to society's overall ethical sensibility?

What informs our life goals and influences the decisions we make according to the text?

How is our personal ethical stance built according to the text?

What is the benefit of an explicit values statement according to the text?

What is the primary purpose of having a well-thought-out philosophy with a set of core beliefs?

How does knowing one's core values benefit individuals according to the text?

What is the next step if you determine that there is only one right choice in an ethical dilemma?

In Murray's case, what kind of dilemma did he identify?

What type of relationship does Murray have with the day traders?

What should you do if you determine that you are facing an ethical dilemma?

What is the primary ethical dilemma that Murray is facing?

What might be a consequence if Murray closes out the small accounts of major clients' teenaged children?

What is a key concern for Murray regarding maintaining a relationship with his elderly clients?

What is a potential consequence of maintaining a relationship with the day traders with relatively dormant accounts?

What are the three tests that can be used to determine whether you are dealing with a right-versus-wrong issue?

What is the third step in the ethical decision-making process?

What is Murray's responsibility in the given situation?

What should individuals subject each choice to, given a set of choices, before proceeding?

What type of dilemma does Murray's conflict with his elderly clients represent?

Which dilemma demands a cost-benefit analysis to determine the greatest good for the greatest number of people?

What is the sensible short-term choice for Murray according to the text?

Which group of clients does Murray consider letting go because they do not fit the new criteria?

What should be the next step if it is determined that there is only one right choice in an ethical dilemma?

What does Murray's dilemma with his elderly clients illustrate?

What is the purpose of asking the question 'Is this an individual-versus-group dilemma?'

When is it necessary to determine whether an ethical dilemma is a right-versus-wrong issue or a right-versus-right issue?

Which concept can be specifically defined as the study of the general nature of morals and the moral choices made by individuals?

What is the primary reason that people may follow rules without believing it is the right or moral thing to do?

Why can it be possible to act unethically even when complying strictly with the rules?

What distinguishes moral principles from ethics according to the text?

What is the primary distinction between end values and mean values as discussed in the text?

In the context of personal decision-making, what impact can unconscious drives have according to the text?

Why does the text emphasize the importance of a unified value system?

What is the potential catastrophic consequence of ethical relativism in the securities industry?

What serious flaw is ethical relativism based on, according to the text?

In what context can ethical relativism lead to a 'me first' stance and the value of greed, as mentioned in the text?

Why is ethical relativism considered to have catastrophic consequences in the securities industry?

What is the concept under which the client's interests come before those of the RR?

What did Hans Küng and Rushworth Kidder's findings suggest about major world religions and world leaders?

What did the text imply regarding the industry's standards of conduct and universal moral principles?

Why is there much work to be done in terms of values education, as mentioned in the text?