{"id":15310,"date":"2019-12-30T11:44:33","date_gmt":"2019-12-30T11:44:33","guid":{"rendered":"https:\/\/analystprep.com\/cfa-level-1-exam\/?p=15310"},"modified":"2025-09-26T06:21:20","modified_gmt":"2025-09-26T06:21:20","slug":"ethics-and-profession","status":"publish","type":"post","link":"https:\/\/analystprep.com\/cfa-level-1-exam\/ethical-and-professional-standards\/ethics-and-profession\/","title":{"rendered":"Ethics and Profession"},"content":{"rendered":"\n<p>A profession can be defined as the occupational group that\nis based on the unique education, specialist knowledge, and framework of\npractice and behavior that establishes community trust, respect, and\nrecognition. A large proportion of professions outlines the importance of ethics,\nexcellent service and empathy when dealing with the clients.<\/p>\n\n\n\n<p>Diverse professions have developed over the years due\nto:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Rise of new specialist areas of expertise which\nrequires licensing and technical standards<\/li><li>Pressure from the governments and\nregulators. These entities encourage the formation of strong ethical standards\nbetween the professionals and the society at large.<\/li><li>Demand for a certain profession by the parties\nwho see the merit of working as a professional and desire to work with\nprofessionals in specific fields.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Establishment of Trust by Professions<\/h2>\n\n\n\n<p>A credible profession is characterized by the strong\ntrust from both the clients and the society at large. Professions builds\nthrough the following ways:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">1.&nbsp;&nbsp;\nProvision of Community Service<\/h3>\n\n\n\n<p>The provision of community services creates confidence\nand professional pride and professional acceptance. Consequently, a trustworthy\nprofession is substantially flexible and is independent from the government regulatory\nbodies when carrying its operations.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">2.&nbsp;&nbsp;\nMaking a Profession Client-based<\/h3>\n\n\n\n<p>The trust of a profession is built if it puts its integrity\nand the interest of clients above their interests. A client-focused profession\nis one that its actions portray a high level of care, skill, and diligence\nwhile making the interests of the clients&#8217; priority. In summary, a profession\ngains trust if it shows <strong>fiduciary duty-<\/strong>a a commitment to high-quality\ncare when acting for the benefit of another party.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">3.&nbsp;&nbsp;\nNormalizing of the Practitioner&nbsp; Behavior<\/h3>\n\n\n\n<p>A profession is trusted if it is grounded on codes and\nstandards recognized by regulators and the government, under which the\nprofession is established. The regulatory bodies should understand the\nprofession\u2019s codes and standards and their enforcement.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">4.&nbsp;&nbsp;\nDeveloping High Entry Standards for a Profession<\/h3>\n\n\n\n<p>A profession should develop an elaborate entry requirement\ninto a profession since membership in a profession is a sign to the consumers\nthat the professional will deliver high-quality service. Such requirements\ninclude expertise, knowledge, technical skills, and ethics.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">5.&nbsp;&nbsp;\nPossessing Body of Expert Knowledge<\/h3>\n\n\n\n<p>Experienced and skilled practitioners should make\navailable useful knowledge to its members to work resourcefully and ethically, based\non best practice.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">6.&nbsp;&nbsp;\nContinuous Education <\/h3>\n\n\n\n<p>Having qualified into a profession, there is need for ongoing\neducation to its members to accommodate the ever-changing knowledge and\ntechnical skills, technology, standards of ethical behavior, legal and business\nenvironment where professional services are needed. Most of the professional regulatory\nbodies make it mandatory for the members to undergo <strong>continuing professional development\n<\/strong>-undergoing specified new learning each year.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">7.&nbsp;&nbsp;\nMonitoring Professional Misconduct<\/h3>\n\n\n\n<p>Each professional found liable for professional misconduct\nshould be held accountable. This is necessary to maintain the integrity and the\nreputation of the profession and hence trust.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">8.&nbsp;&nbsp;\nMaking a profession Collegial<\/h3>\n\n\n\n<p>Despite that member of a profession do compete, they should respect each other rights, autonomy, and dignity.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">9.&nbsp;&nbsp;\nEstablishing Profession Oversight Authorities<\/h3>\n\n\n\n<p>Although it is the responsibility of each professional\nto maintain a high level of professional standards and competency, an oversight\nbody is established to make this happen. Moreover, the oversight body is mandated\nto provide continuous educational resources and information on professional\nchanges as time goes by.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">10.\u00a0Engagement of the Professional Members<\/h2>\n\n\n\n<p>Professional members may help to protect the future of\nprofessional values by acting as educators to peers. They achieve this by\nvolunteering to mentor and inspire other young professionals or even those who\nwish to join a certain profession to develop expertise and ethics. In the long\nterm, the future trust of a profession is protected.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Question<\/h2>\n\n\n\n<p>The credibility of a profession is deeply dependent on\nthe trust of both the clients and the community at large. Which of the\nfollowing is <em>least likely <\/em>to be a way of building trust by professions?<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li>Members\u2019\nengagement to nature future professionalism<\/li><li>Antagonistic\ncompetition among the members of a profession<\/li><li>Continuous\nprovision of educational resources to the members of a profession<\/li><\/ol>\n\n\n\n<p><strong>Solution<\/strong><\/p>\n\n\n\n<p>The correct answer is B.<\/p>\n\n\n\n<p>Competition is healthy in any other industry, but members\nof a profession do compete, they should respect each other rights, autonomy and\ndignity. By doing this, the reputation of a profession is maintained.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A profession can be defined as the occupational group that is based on the unique education, specialist knowledge, and framework of practice and behavior that establishes community trust, respect, and recognition. A large proportion of professions outlines the importance of&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-15310","post","type-post","status-publish","format-standard","hentry","category-ethical-and-professional-standards","blog-post","no-post-thumbnail","animate"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ethics &amp; Professional Standards in Investment| AnalystPrep<\/title>\n<meta name=\"description\" content=\"Explore ethics &amp; professional standards in the investment profession \u2014 code of ethics, trust, responsibilities, and role in building market integrity.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/analystprep.com\/cfa-level-1-exam\/ethical-and-professional-standards\/ethics-and-profession\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethics &amp; Professional Standards in Investment| AnalystPrep\" \/>\n<meta property=\"og:description\" content=\"Explore ethics &amp; professional standards in the investment profession \u2014 code of ethics, trust, responsibilities, and role in building market integrity.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/analystprep.com\/cfa-level-1-exam\/ethical-and-professional-standards\/ethics-and-profession\/\" \/>\n<meta property=\"og:site_name\" content=\"AnalystPrep | CFA\u00ae Exam Study Notes\" \/>\n<meta property=\"article:published_time\" content=\"2019-12-30T11:44:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-09-26T06:21:20+00:00\" \/>\n<meta name=\"author\" content=\"Simon\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Simon\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/ethical-and-professional-standards\/ethics-and-profession\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/ethical-and-professional-standards\/ethics-and-profession\/\"},\"author\":{\"name\":\"Simon\",\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/#\/schema\/person\/8d6352b658ba58a707920fba950b3687\"},\"headline\":\"Ethics and Profession\",\"datePublished\":\"2019-12-30T11:44:33+00:00\",\"dateModified\":\"2025-09-26T06:21:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/ethical-and-professional-standards\/ethics-and-profession\/\"},\"wordCount\":720,\"articleSection\":[\"Ethical and Professional Standards\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/ethical-and-professional-standards\/ethics-and-profession\/\",\"url\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/ethical-and-professional-standards\/ethics-and-profession\/\",\"name\":\"Ethics & Professional Standards in Investment| AnalystPrep\",\"isPartOf\":{\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/#website\"},\"datePublished\":\"2019-12-30T11:44:33+00:00\",\"dateModified\":\"2025-09-26T06:21:20+00:00\",\"author\":{\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/#\/schema\/person\/8d6352b658ba58a707920fba950b3687\"},\"description\":\"Explore ethics & professional standards in the investment profession \u2014 code of ethics, trust, responsibilities, and role in building market integrity.\",\"breadcrumb\":{\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/ethical-and-professional-standards\/ethics-and-profession\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/analystprep.com\/cfa-level-1-exam\/ethical-and-professional-standards\/ethics-and-profession\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/ethical-and-professional-standards\/ethics-and-profession\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Ethics and Profession\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/#website\",\"url\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/\",\"name\":\"AnalystPrep | CFA\u00ae Exam Study Notes\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/#\/schema\/person\/8d6352b658ba58a707920fba950b3687\",\"name\":\"Simon\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2016\/09\/analystprep-150x150.png\",\"contentUrl\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2016\/09\/analystprep-150x150.png\",\"caption\":\"Simon\"},\"url\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/author\/analystprep\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Ethics & Professional Standards in Investment| AnalystPrep","description":"Explore ethics & professional standards in the investment profession \u2014 code of ethics, trust, responsibilities, and role in building market integrity.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/analystprep.com\/cfa-level-1-exam\/ethical-and-professional-standards\/ethics-and-profession\/","og_locale":"en_US","og_type":"article","og_title":"Ethics & Professional Standards in Investment| AnalystPrep","og_description":"Explore ethics & professional standards in the investment profession \u2014 code of ethics, trust, responsibilities, and role in building market integrity.","og_url":"https:\/\/analystprep.com\/cfa-level-1-exam\/ethical-and-professional-standards\/ethics-and-profession\/","og_site_name":"AnalystPrep | CFA\u00ae Exam Study Notes","article_published_time":"2019-12-30T11:44:33+00:00","article_modified_time":"2025-09-26T06:21:20+00:00","author":"Simon","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Simon","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/ethical-and-professional-standards\/ethics-and-profession\/#article","isPartOf":{"@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/ethical-and-professional-standards\/ethics-and-profession\/"},"author":{"name":"Simon","@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/#\/schema\/person\/8d6352b658ba58a707920fba950b3687"},"headline":"Ethics and Profession","datePublished":"2019-12-30T11:44:33+00:00","dateModified":"2025-09-26T06:21:20+00:00","mainEntityOfPage":{"@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/ethical-and-professional-standards\/ethics-and-profession\/"},"wordCount":720,"articleSection":["Ethical and Professional Standards"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/ethical-and-professional-standards\/ethics-and-profession\/","url":"https:\/\/analystprep.com\/cfa-level-1-exam\/ethical-and-professional-standards\/ethics-and-profession\/","name":"Ethics & Professional Standards in Investment| AnalystPrep","isPartOf":{"@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/#website"},"datePublished":"2019-12-30T11:44:33+00:00","dateModified":"2025-09-26T06:21:20+00:00","author":{"@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/#\/schema\/person\/8d6352b658ba58a707920fba950b3687"},"description":"Explore ethics & professional standards in the investment profession \u2014 code of ethics, trust, responsibilities, and role in building market integrity.","breadcrumb":{"@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/ethical-and-professional-standards\/ethics-and-profession\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/analystprep.com\/cfa-level-1-exam\/ethical-and-professional-standards\/ethics-and-profession\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/ethical-and-professional-standards\/ethics-and-profession\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/analystprep.com\/cfa-level-1-exam\/"},{"@type":"ListItem","position":2,"name":"Ethics and Profession"}]},{"@type":"WebSite","@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/#website","url":"https:\/\/analystprep.com\/cfa-level-1-exam\/","name":"AnalystPrep | CFA\u00ae Exam Study Notes","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/analystprep.com\/cfa-level-1-exam\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/#\/schema\/person\/8d6352b658ba58a707920fba950b3687","name":"Simon","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/#\/schema\/person\/image\/","url":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2016\/09\/analystprep-150x150.png","contentUrl":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2016\/09\/analystprep-150x150.png","caption":"Simon"},"url":"https:\/\/analystprep.com\/cfa-level-1-exam\/author\/analystprep\/"}]}},"_links":{"self":[{"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/posts\/15310","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/comments?post=15310"}],"version-history":[{"count":1,"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/posts\/15310\/revisions"}],"predecessor-version":[{"id":15311,"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/posts\/15310\/revisions\/15311"}],"wp:attachment":[{"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/media?parent=15310"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/categories?post=15310"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/tags?post=15310"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}