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Question 1 of 12

1. Question
True or False

Without ethics, financial advisors will not be able to establish long-term trusted relationships with their clients.
- True
- False
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Question 2 of 12

2. Question
Select the correct statement:
- (a) Ethics are moral principles
- (b) Moral principles of deal with right and wrong behaviour
- (c) Principles are rules or beliefs that directs your personal behaviour
- (d) All of the above
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Question 3 of 12

3. Question
Select the incorrect statement
- (a) Ethics is a compliance issue. Nothing more and nothing less.
- (b) Ethics is good for business. It is a business issue. Sound, ethical behaviour improves your reputation and if you have a good reputation, you will attract and retain financial customers.
- (c) People who practice good ethics face less risk. Much risk can be avoided just by doing what’s morally right.
- (d) The benefit of ethics is trust.
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Question 4 of 12

4. Question
Select the incorrect statement
- (a) The purpose of a business is to create and keep customers.
- (b) Creating customers is all about sales. If what you sell is to the benefit of your client, it is simply a bonus.
- (c) Placing the client’s interests first is a hallmark of professionalism and is a core value of any profession.
- (d) Putting clients first requires advisors to act honestly at all times and not place personal interest or advantage, in any form, before their clients’ interests.
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Question 5 of 12

5. Question
Select the correct statement
- (a) Integrity is the quality of being honest and morally upright.
- (b) If an advisor’s clients find that he lacks integrity, he will fail.
- (c) According to Frank J. Rumbauskas, author of Selling Sucks – Salespeople who deliver value through honesty and integrity never need to close sales. That’s because people want to buy from them.
- (d) Rules cannot take the place of character.
- (e) All of the above
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Question 6 of 12

6. Question
Select the correct statement.
- (a) According to the Code of Conduct- A provider must at all times render financial services … in the interests of clients and therefore objectivity requires intellectual honesty and impartiality.
- (b) According to the Oxford Advanced Learner’s Dictionary to be objective means not to be influenced by personal feelings or opinions. It is to be unbiased and considering only facts.
- (c) Regardless of the services delivered or the capacity in which a financial advisor functions, objectivity requires trusted advisors to identify and manage conflicts of interest and exercise sound professional judgment.
- (d) The General Code of Conduct demands that financial advisors identify, mitigate, and manage any potential conflicts of interest that may exist between their own interests and the interests of clients.
- (e) All of the above
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Question 7 of 12

7. Question
True or False

Fairness is defined as just and reasonable treatment in accordance with accepted rules or principles. Fairness therefore requires providing clients with what they are due, owed, or could legitimately expect from a professional relationship. Fairness implies treating others in the same manner that you would want to be treated.
- True
- False
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Question 8 of 12

8. Question
Select the incorrect statement
- (a) The Oxford Dictionary defines competence as the ability to do something well. To be competent means having enough skill or knowledge to do something well or to the necessary standard.
- (b) Competence requires attaining and maintaining a high level of knowledge, skills, and abilities in the provision of professional services.
- (c) Competence is about product sales skills.
- (d) According to Dr. Henry Cloud, the author of the book Integrity, people who become leaders, or really successful, have some set of competencies. In other words, they know their field, their industry, their discipline.
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Question 9 of 12

9. Question
True or False

Competence consists of four key components:

1. Your attitude towards your clients and your desire to be competent at what you do.
2. Knowledge of your subject, whether it is estate planning, retirement planning, non-life insurance or medical aid insurance.
3. Skills to put your knowledge into practice. It is the application of your knowledge.
4. Your behaviour when engaging with clients.
- True
- False
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Question 10 of 12

10. Question
Select the correct statement.
- (a) Confidentiality is defined as a situation in which you can expect to keep information secret.
- (b) Confidential information is meant to be kept secret and not told to or shared with other people.
- (c) Confidentiality requires client information to be protected and maintained in such a manner that allows access only to those who are authorised.
- (d) A relationship of trust and confidence with the client can only be built on the understanding that the client’s information will not be disclosed inappropriately.
- (e) All of the above
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Question 11 of 12

11. Question
True or False

Diligence can be defined as careful and thorough work or effort. It means showing care and effort in your work or duties. Diligence requires fulfilling agreed upon professional commitments in a timely and thorough manner and taking due care in planning, supervising, and delivering professional services.
- True
- False
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Question 12 of 12

12. Question
Select the incorrect statement
- (a) Professionalism is defined as the high standard that you would expect from a person who is well trained in a particular job. It is demonstrated by great skill and ability.
- (b) Professionalism has nothing to do with accountability.
- (c) Professionalism requires behaving with dignity and showing respect and courtesy to clients, fellow professionals, and others in business-related activities, and complying with appropriate legislation, regulations, rules, and professional requirements.
- (d) Professionalism requires trusted advisors, individually and in co-operation with peers, to enhance and maintain the profession’s reputation and public image and its ability to serve the public interest.
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Module: Ethics 101

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