AFIP Ethical and Professional Conduct

Question 1

What is the foundation of ethical behavior in finance?

Accepted Answer

Integrity

Answer

Profit

Answer

Aggressiveness

Answer

Confidentiality

Question 2

Why is client confidentiality important?

Accepted Answer

To protect client privacy

Answer

To gain referrals

Answer

To reduce paperwork

Answer

To speed up sales

Question 3

Which of the following violates professional conduct?

Accepted Answer

Misrepresenting financial products

Answer

Clarifying fees

Answer

Offering choices

Answer

Asking for documentation

Question 4

What should a professional do when facing a conflict of interest?

Accepted Answer

Disclose it to the client

Answer

Hide it

Answer

Ignore it

Answer

Transfer it

Question 5

Which code guides professional behavior?

Accepted Answer

Code of ethics

Answer

Marketing script

Answer

Policy manual

Answer

Business plan

Question 6

How can professionals maintain competence?

Accepted Answer

Ongoing professional education

Answer

Avoiding new tools

Answer

Delegating tasks

Answer

Ignoring updates

Question 7

What is the result of ethical misconduct?

Accepted Answer

Loss of license or penalties

Answer

More clients

Answer

Lower taxes

Answer

Awards

Question 8

What is the duty of loyalty in financial services?

Accepted Answer

Putting client’s interest first

Answer

Maximizing firm revenue

Answer

Avoiding hard questions

Answer

Selling fast

Question 9

Why should professionals avoid misleading claims?

Accepted Answer

It ensures informed client decisions

Answer

To boost sales

Answer

To reduce compliance

Answer

To increase fees