AFM 311 Midterm Question and
answer already passed 2025/2026
Ethics - correct answer ✔Guides us in identify right from wrong
Core idea of Ethics - correct answer ✔Trust, Cooperate, Compete
Objectivism - correct answer ✔The view that some moral principles are valid for everyone
Relative ethical principles - correct answer ✔Apply only within certain cultures / societies and each
culture / society can have different ethical principals
Relativism - correct answer ✔The belief that a harmful act is 'right' if the perpetrator claims it's 'right'
Humble Objectivism - correct answer ✔There exist objective ethical principles that apply everywhere,
but we don't know what they are yet
Rest's Four-Component Model of Ethical Decision Making - correct answer ✔- Moral Sensitivity
- Moral Judgement
- Moral Intent
- Moral Character
Kohlberg's stages of moral development - correct answer ✔- Purly out of self-interest
- Act in self-interest, but understand that others also have desires
- Aim to please others in close proximity
- Aim to please others in broder society
, - Recognize that some laws reasonably can be challenged
- Adhere to inner conscience
Giving Voice to Values (GVV) - correct answer ✔- Values
- Choice
- Normalization
- Purpose
- Self-Knowledge & Alignment
- Voice
- Reasons & Rationalization
CARE Model - correct answer ✔- Consider all facts
- Assess available alternatives
- Review the ethical issues
- Evaluate the consequences
Code of Ethics - correct answer ✔Sets out guidelines and best practices to follow for honesty, integrity,
and professionalism
CPA Rules of Professional Conduct - correct answer ✔- Members and firms have a fundamental
responsibility to act in the public interest
- Students have a responsibility to protect and advance the interests of the public
- A student has a duty to perform all professional services with integrity
IIA Code of Professional Ethics - correct answer ✔- Integrity
- Objectivity
answer already passed 2025/2026
Ethics - correct answer ✔Guides us in identify right from wrong
Core idea of Ethics - correct answer ✔Trust, Cooperate, Compete
Objectivism - correct answer ✔The view that some moral principles are valid for everyone
Relative ethical principles - correct answer ✔Apply only within certain cultures / societies and each
culture / society can have different ethical principals
Relativism - correct answer ✔The belief that a harmful act is 'right' if the perpetrator claims it's 'right'
Humble Objectivism - correct answer ✔There exist objective ethical principles that apply everywhere,
but we don't know what they are yet
Rest's Four-Component Model of Ethical Decision Making - correct answer ✔- Moral Sensitivity
- Moral Judgement
- Moral Intent
- Moral Character
Kohlberg's stages of moral development - correct answer ✔- Purly out of self-interest
- Act in self-interest, but understand that others also have desires
- Aim to please others in close proximity
- Aim to please others in broder society
, - Recognize that some laws reasonably can be challenged
- Adhere to inner conscience
Giving Voice to Values (GVV) - correct answer ✔- Values
- Choice
- Normalization
- Purpose
- Self-Knowledge & Alignment
- Voice
- Reasons & Rationalization
CARE Model - correct answer ✔- Consider all facts
- Assess available alternatives
- Review the ethical issues
- Evaluate the consequences
Code of Ethics - correct answer ✔Sets out guidelines and best practices to follow for honesty, integrity,
and professionalism
CPA Rules of Professional Conduct - correct answer ✔- Members and firms have a fundamental
responsibility to act in the public interest
- Students have a responsibility to protect and advance the interests of the public
- A student has a duty to perform all professional services with integrity
IIA Code of Professional Ethics - correct answer ✔- Integrity
- Objectivity
