5- Values as the Foundation for Ethical Practice

Question 1

What are Ethics ?

Answer 1

value-based behaviours and actions that empower human relationships.

Question 2

values have certain characteristics: (3)

Answer 2

1. Values are deeply held attitudes, not fact.
2. Values are not transitory; they remain in place until challenged.
3. Values provide guidance with respect to two aspects of our lives:
   a. Our personal and corporate behaviour.
   b. Our personal and corporate goals.

Question 3

We change values in three major ways:

Answer 3

1. By our lived experience
2. By taking the time become personally of our values
3. Through a significant emotional experience

Question 4

The process of becoming aware of her value system is called

Answer 4

value clarification.

Question 5

guiding values of finanical planning industry: (5)

Answer 5

1. Fiduciary Responsibility: the client’s interests always come first.
2. Honesty, Integrity and Justice: full disclosure and fair treatment are critical to create trust with the client.
3. Professionalism: conduct yourself with integrity at all times.
4. Technical Proficiency: maintain a high level of technical knowledge through continuous education.
5. Confidentiality:

Question 6

process of becoming self-aware (7)

Answer 6

1. Self-knowledge
2. set a plan
3. change environment
4. Find Alternatives
5. Rename (new version of yourself)
6. Seek help from Community
7. Forgive

Question 7

ethical relativism is focused on

Answer 7

Yourself (self centered)

Question 8

Unless these values are clearly present, there can be no trust. (3)

Answer 8

honesty, integrity and justice