Ethical Standards & Professional Conduct Flashcards
7 cards from real CCM practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Ethical Standards & Professional Conduct flashcards as text
A commercial manager is offered a consulting contract by a supplier while still employed in their current role. This situation most directly raises concerns about:
Answer: Conflict of interest and divided loyalty
Accepting consulting work from a current supplier creates a conflict of interest that compromises the professional's objectivity and duty of loyalty.
Under ethical standards for commercial managers, 'informed consent' in contracting means:
Answer: Ensuring all parties fully understand the terms before committing
Informed consent requires that all contracting parties have full understanding of terms and implications before they are bound.
A CCM professional discovers a data privacy breach affecting contract counterparty information. Their first ethical obligation is to:
Answer: Contain the breach and notify affected parties and relevant authorities promptly
Ethical and legal obligations require prompt notification of data breaches to affected parties and applicable authorities.
Which behavior most clearly violates the ethical standard of confidentiality in commercial management?
Answer: Sharing a supplier's pricing with a competitor during negotiations
Sharing a supplier's confidential pricing with competitors is a direct breach of confidentiality obligations and professional ethics.
When a commercial manager faces an ethical dilemma not covered by explicit company policy, the recommended approach is to:
Answer: Apply recognized ethical frameworks and consult professional standards guidance
When policy is silent, professionals should apply established ethical frameworks (e.g., stakeholder analysis, duty-based reasoning) and professional standards.
In the context of CCM ethics, 'due diligence' on a new supplier primarily serves to:
Answer: Identify ethical, financial, and compliance risks before contracting
Due diligence identifies risks including ethical red flags (e.g., labor violations, corruption history) to ensure responsible supplier selection.
A commercial manager is asked to backdate a contract to make a purchase appear approved before a budget freeze. This action constitutes:
Answer: Fraud and a serious breach of professional ethics
Backdating a contract to circumvent budget controls is fraudulent misrepresentation and a fundamental violation of professional ethics.