Cpsp Practice Test & Exam Prep | Pakistan

Which statement best distinguishes compliance rules from business ethics in a brokerage context?

Rules are optional guidelines; ethics are legally enforceable Ethics and rules are identical so no separate compliance culture is needed Rules set minimum legal/regulatory standards; ethics can require higher conduct beyond the letter of law Ethics apply only to retail clients, not to institutional accounts

Correct Answer:

Rules set minimum legal/regulatory standards; ethics can require higher conduct beyond the letter of law

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