- CFA Exams
- 2021 Level I
- Study Session 1. Ethical and Professional Standards
- Reading 1. Ethics and Trust in the Investment Profession
- Subject 3. Challenges to Ethical Conduct
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Subject 3. Challenges to Ethical Conduct PDF Download
Challenges to ethical behavior include:
- the overconfidence bias. Most of us simply assume that we are good people and will therefore make sound ethical decisions. This overconfidence in one's own moral compass can lead to making decisions without serious ethical reflection.
- situational influences, which are external factors such as environmental or cultural elements. They can motivate individuals to act in their short-term interests without recognizing the long-term risks or consequences for themselves and others. Examples include financial rewards, prestige, and loyalty to employer and colleagues.
Learning Outcome Statementsc. identify challenges to ethical behavior;
CFA® 2021 Level I Curriculum, 2021, Volume 1, Reading 1
User Contributed Comments 1
|rodwsi||Situational influences include money, bonuses, promotions, prestige and loyalty to employer/colleagues.|
I am happy to say that I passed! Your study notes certainly helped prepare me for what was the most difficult exam I had ever taken.
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