Michael and Samantha Jones have operated and owned Finance Broking Pty Ltd business for the last five years as an ACL holder. Michael and Samantha thought long and hard about how they wanted the people in their business to behave and tried to capture that in their vision statement. Their vision statement has always been: We simplify the complexity of reaching financial goals and take pride in providing professional and ethical services to our clients. We view their success as our success Michael recently completed an internal audit of files and noticed a breach by Bill Mason. It appears a systematic issue was established for not advising commission charged in the credit proposal. Michael noted that all of Bills applications had this critical item missing. Michael is handling the risk and legal ramifications but this is not being addressed in this case study. Bills response seemed flippant and Samantha is very concerned about the ethical ramifications as it calls into question the integrity of the company and all those who work there. When she spoke to Bill about his flippant attitude to this serious breach, Bill said Most of myclients arenot Aussies, mainly Greeks, Paki\'s and Lebbos. My paymentis none of their business, spending time going through that irrelevant information will only cause problems and take up more time, they would think Iwas overpaid and mightwant a cut! Plus, the Aussies don\'t bother reading anyway, who doread it would probably not understand the fine print or how much time the loan takes! Samantha is horrified to hear the appalling negative biases Bill has revealed and needs to research further into the psychology of ethics in order to work with Bill. CASE STUDY QUESTIONS

• Complete the table on how the listed misconceptions could impact Bills thinking and affect his role as a broker and then add one further misconception Bill could have considering the scenario in (b).

a. The first column contains some possible biases that could have influenced Bills thinking. The first line in red gives you guidance on the depth of the required answers, and you are to complete the rest.

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