Cqib - Chapter 2 - Ethics In Banking |49 Questions| With Correct Answers.

Key Concepts of Consequentialism {Ans: A way of working through the consequences of a decision. Tends to regard everybody's happiness or unhappiness equally valid. Therefore, you have to consider the entire utility, rather than viewing it from a self-centred perspective. Start to think that the means Justify the ends. Whether an act is right or wrong depends only on the results, or consequences, of that act. The more good consequences an act or behaviour produces, the better or "more right" that act or behaviour. You consider all the costs and all the benefits before making a decision.}What term describes thinking about thinking? & Key Concepts {Ans: Metacognition - Helps us to plan, assess and improve our thinking - Often used in educational contents to refer to the way people improve their ability to learn. - Being capable of making ethical decisions is not necessarily a natural still, it is a practical capability that we develop with knowledge and experience.}Key Concepts of Deontology {Ans: A way of applying reasoning to a decision based on two simple rules. Anything you might 'will' for yourself, you must be prepared to 'will' for everyone else. In other words, it asks the