Practice Test GeeksCRM - Certified Relationship Manager Practice Test
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Ethical Standards & Professional Conduct Flashcards

6 cards from real CRM practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 6 Ethical Standards & Professional Conduct flashcards as text

  1. Which principle requires a Certified Relationship Manager to always act in the best interest of the client rather than pursuing personal gain?

    Answer: Fiduciary duty

    Fiduciary duty obligates a CRM professional to prioritize the client's interests above their own in all financial and relationship decisions.

  2. A CRM professional discovers a colleague is sharing confidential client data with third parties without consent. The BEST first step is to:

    Answer: Report it through the firm's internal compliance channel

    Internal compliance reporting is the correct first step as it follows proper escalation procedures while protecting all parties involved.

  3. Which of the following best describes a conflict of interest in relationship management?

    Answer: Offering a product the client doesn't need because it pays higher commission

    A conflict of interest occurs when personal or firm incentives—like higher commissions—could compromise objective advice to the client.

  4. Under the CRM Code of Ethics, which obligation requires professionals to maintain accurate and complete records of client interactions?

    Answer: Accountability

    Accountability requires CRM professionals to keep thorough records so that their actions and recommendations can be reviewed and verified.

  5. A CRM professional receives a gift from a vendor whose products are recommended to clients. According to ethical guidelines, the professional should:

    Answer: Disclose it to compliance and assess whether it influences objectivity

    Ethical standards require disclosure of any gifts to compliance so the firm can assess whether objectivity or client interests could be compromised.

  6. The principle of 'suitability' in the CRM context primarily means:

    Answer: Recommending products or services that match the client's needs, goals, and risk tolerance

    Suitability requires that any recommendation be appropriate for the specific client based on their financial situation, objectives, and risk tolerance.