b. describe the role of a code of ethics in describing a profession

Command words

• Describe: To portray in words “Describe the various forms of event risk”

Flash cards

The role of a code of ethics in describing a profession is about what 2 things? 1. communicating the priciples and expected behaviors shared among members of the profession 2. generates confidence among members and non-members (public)

Which of the following statements is most accurate? Standards of conduct: A) are a necessary component of any code of ethics. B) serve as a general guide regarding proper conduct by members of a group. C) serve as benchmarks for the minimally acceptable behavior required of members of a group. Answer: C. (CFA Institute. 2020 CFA Program Level I Volume 1 Ethical and Professional Standards and Quantitative Methods (Kindle Locations 963-966))