- CFA Exams
- CFA Level I Exam
- Topic 10. Ethical and Professional Standards
- Learning Module 1. Ethics and Trust in the Investment Profession
- Subject 5. Ethical Decision-Making Frameworks
CFA Practice Question
In the consider phase, which factors should be considered?
II. Conflicts of interest
III. Alternative actions
I. Situational influences
II. Conflicts of interest
III. Alternative actions
Correct Answer: I and III
In the consider phase of ethical decision-making, you should consider:
- Situational influences: Are outside pressures (such as conforming to the group or obeying authority) or internal biases (such as overconfidence) affecting your decision?
- Alternative actions: Have you brainstormed multiple solutions and avoided a particular preconceived path?
- Additional guidance: Have you sought the independent, objective assessment of other people to gain additional perspective?
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