IREM Certified Property Manager (CPM) Practice Test

In a professional context, ethics refers to the rules and principles that guide the behavior of individuals and organizations in their work. These rules are focused on what is considered right and wrong, influencing how professionals should act in various situations, particularly regarding fairness, integrity, and respect for others.

By adhering to ethical standards, professionals ensure they act responsibly and maintain trust with clients, colleagues, and the wider community. These rules can encompass a wide range of issues, including conflicts of interest, confidentiality, and the responsibility to act in the best interest of clients or the public.

The other options, while they may play important roles in the business environment, do not specifically define ethics. Strategies for improving profits and performance measurement metrics are focused on operational goals and success measures, while legal requirements pertain to compliance with laws rather than ethical principles.