The Disadvantage of Including General Statements in a Code of Professional

question 23

Multiple Choice

The disadvantage of including general statements in a code of professional ethics is:

• A) there are usually too many to remember.
• B) the difficulty of enforcing general ideals without minimum standards of ideal behaviour.
• C) the emphasis on positive activities.
• D) that they identify ideal conduct.

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Definitions:

Put Option

A financial derivative contract giving the holder the right but not the obligation to sell a specified amount of an underlying asset at a set price before the contract expiration.

Market Price

The current market rate for transactions involving an asset or service.

Strike Price

The determined price point where the possessor of a call option has the right to buy, or in a put option scenario, to sell the asset in question.

Put Option

A financial contract giving the buyer the right, not the obligation, to sell an asset at a specified price within a specified time.