Laws are fixed principles, but ethics are not.
Answer the following statement true (T) or false (F)
False
Neither laws nor ethics are fixed principles that do not change over time. Ethical beliefs change as time passes; as they do, laws change to reflect the changing ethical beliefs of a society.
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Suppose that a mortgage broker arranges for a subprime loan for a person who could have qualified for a conventional loan. The possibility of a conventional loan was never mentioned to the customer
Has the mortgage broker violated ethics guidelines? A) No, as long as the mortgage broker did not lie or use coercion during the loan application process. B) No, because buyers have the sole responsibility for their purchasing decisions. C) Yes, because arranging for a subprime loan would always be a violation of ethics. D) Yes, because homebuyers are mentioned among the economically vulnerable segments of society to whom marketers owe a special commitment. E) Yes, because the mortgage broker violated the ethical value of openness by failing to mention clearly preferable alternatives.