Unit 3-1: Professional ethics

Question 1

Ethics

Answer 1

formal set of guidelines adopted by entire profession, business, organization
personal concept affecting choice of actions, based on values and beliefs
moral standards to judge behaviour

Question 2

Morals

Answer 2

Set of beliefs founded on right and wrong
accepted customs/principles
religious or cultural

Question 3

Professional standards

Answer 3

rules and regulations governing day-to-day activities

Question 4

Kohlberg’s model of moral development

Answer 4

3 levels:
Level 1: pre-conventional - young kids
stage 1: obedience is reward/punish
stage 2: acts are for self-interest

Level 2: conventional - young adults
stage 3: approval of peers
stage 4: compliance w/ social conventions

Level 3: post-conventional - adults
stage 5: social welfare
stage 6: individual reflection, analysis

Question 5

Utilitarian ethics (aka consequentialism)

Answer 5

Jeremy Bentham, English and John Stuart Mills
Guide people to make decisions that max other’s welfare or happiness and reduce harm
Intentions and motivations not important

Question 6

Duty based ethics

Answer 6

Immanuel Kant, German
Intention of actions
Use of reason and applies to everyone
Do the right thing regardless of outcome

Question 7

Influences on professional conduct

Answer 7

Pyramid:
Personal ethics
brokerage ethics
industry
real estate act
Canadian law

Question 8

Canadian Law

Answer 8

Criminal, Agency, Contract, Tort laws
Judged based on case law

Question 9

Industry ethics

Answer 9

codes related to membership in organizations that require commitment to professional conduct

Question 10

Brokerage ethics

Answer 10

expectations of ethical conduct for all employees