Philosophy correct answers The learning of
- value fields (justice, ethics, esthetics)
- knowing (epistemology, content, knowledge)
- what is (metaphysics, corrections of reality and practicality).
What does it mean to "know thyself"? correct answers Mastering yourself is a true power. Kno...
PHI 334 Exam 1 || with Accurate Answers 100%.
Philosophy correct answers The learning of
- value fields (justice, ethics, esthetics)
- knowing (epistemology, content, knowledge)
- what is (metaphysics, corrections of reality and practicality).
What does it mean to "know thyself"? correct answers Mastering yourself is a true power. Know
your strengths and weaknesses.
What is business? correct answers The exchange of goods or services for value or profit for the
shareholder.
Is business good? correct answers Business is not always good, sometimes all business does not
make both parties better off.
Ex. Assassination company is doing a favor for one of the parties but not making the other party
better off.
Business should advance the common good and obey the legal and moral law.
What does it mean for a business to sell short? correct answers Contract about paying a value
cheaper and buying back later.
What are CDO's? correct answers Consolidated Debt Obligations
- portfolios
- trenches - interest & risk
Short term loan often for cash flow purposes. Commercail paper.
Ex. bank loans and mortgages
What is the Giant Pool of Money? correct answers Money to be invested
Stock market law? correct answers Don't buy when the price is deflating, buy when it is just
starting to inflate again.
Who should risk? correct answers People with not much to lose should risk or people who are
young and not risking much.
AIG - largest insurance company in the USA
, NINA loans - set people up to lie
Moral Issues with Fiduciary Duties correct answers Doctors and specialists have duties,
obligations and oaths, that they must abide by having the client's best interest.
More examples of moral issues... correct answers Lie
Deceive
Faith in self-correction (deregulate)
Greed/trust
Who is to blame for the mortgage crisis? correct answers - Bankers (handing out too much
money)
- Loan officers
- Home owners (not paying their mortgages)
- Investors
- Rating agency
Alan Greenspan correct answers Economic guru
Bernie Maddoff correct answers CONARTIST, took billions in the Ponzi Scheme by getting
investments and depending on other companies for the profit. The worst part is that he was well
respected and trusted in the industry.
He cheated $65 billion and kept $20 billion.
16,000 investors filed against him.
Ponzi Scheme correct answers (Bernie Maddoff)
Lure investors for high returns and then urge them to stay in.
Wall Street Worries and Lessons correct answers 1. Everyone was doing it. Everyone was selling
things and mortgages that were faulty, that shouldn't have been sold and making money from it,
without being stopped. Money was blinding their moral obligation.
2. Need for perspective. "Missing trees for the bark". People were oblivious to their surroundings
and actions and being taken advantage of.
3. "People on Wall Street are bad".
4. No malice. Nothing to be proud of.
5. Duty - Fiduciary. (Client's best interest)
6. Dishonesty - Greed and disregard or others.
Auditing correct answers Looking into books and checking that numbers are what they're
supposed to be. Pontell and Geis tried to develop a new way for auditors to be paid.
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