"morality" exercise:Ethics and Trust

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Questions 1:

From the point of view of an investor, unethical behavior by investment professionals can most likely lead to which of the following?

A、 Increased willingness to accept risk

B、 Rise in the demand for investments

C 、Demand for a higher return

Questions 2:

A regulator who requires financial advisers to merely consider the suitability of a product when making recommendations to their clients would most likely be setting:

A、 both a legal and an ethical standard.

B、 an ethical standard.

C 、a legal standard.

View answer resolution

【Answer to question 1】C

【analysis】

C is correct. Unethical behavior erodes and destroys trust. Investors with low levels of trust are less willing to accept risk and, therefore, will likely demand a higher return for the use of their capital. They may also choose to invest elsewhere or to not invest at all.

A is incorrect. The loss of trust leads to less willingness to accept risk, not increased willingness to accept risk.

B is incorrect. The loss of trust may lead to less demand for investment, not an increase in the demand for investments.

【Answer to question 2】C

【analysis】

C is correct. The regulator only sets a legal standard when requiring a financial adviser to merely consider suitability when making recommendations to their clients. Requiring advisers to act as fiduciaries would be setting both a legal and an ethical standard; it would require the interests of the client to be above those of the firm or employee.

A is incorrect. Requiring financial advisers to act as fiduciaries would be setting both a legal and an ethical standard by requiring the interests of the client to be above those of the firm or employee .

B is incorrect. The regulator is not setting an ethical standard by requiring a financial adviser to consider suitability; they are setting a legal standard.

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