FREE FASEA Ethical Principles Questions and Answers
What is the primary ethical principle emphasized in FASEA's Code of Ethics?
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The principle of 'acting with integrity' ensures advisers maintain honesty and fairness in their professional conduct.
Which ethical principle focuses on prioritizing the client's needs over personal or organizational gains?
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Acting in the best interest of the client ensures that advisers prioritize their clients' needs above all else.
How does the ethical principle of accountability apply to financial advisers?
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Accountability ensures advisers take responsibility for their actions and decisions, fostering trust and transparency with clients.
What does the ethical principle of fairness entail in the context of financial advice?
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Fairness involves treating all clients equitably and ensuring advice is free from bias or discrimination.
Which principle requires advisers to uphold confidentiality in all client interactions?
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The principle of confidentiality ensures client information is protected and not shared without proper consent.
What does the principle of competence emphasize for financial advisers?
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Competence emphasizes the need for advisers to maintain and improve their knowledge and skills to provide effective advice.