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What is meant by 'Conflict of Interest'?

What is meant by 'Conflict of Interest'? Correct Answer A conflict between the private interests and the official responsibilities of a person in a position of trust 

Conflict of interest:

  • It is an opposition between the private interests and the official or professional responsibilities of a person in a position of trust, power, and/or authority.
  • Such conflicts may result in a situation in which personal, financial, and/or nonfinancial considerations have the potential to influence or compromise professional judgment in service, research, consultation, instruction, administration, or any other professional activity.
  • It is important to note that it is not necessary for such influence or compromise to have occurred before a situation can be identified as a conflict of interest.
  • It is sufficient for the situation to appear to provide the potential for professional judgment to be compromised.

Related Questions

Which of the following statements is/are true/false regarding modes of Conflict Management Styles?
1. The avoidance modes of conflict management aim at avoiding or postponing conflicts.
2. The compromise mode involves coercion and is likely to fail to reach a solution.
3. The main objective of the defusion mode of conflict resolution is to buy time for dealing with a conflict.
4. Withdrawal is a form of approach mode that involves getting away from a conflict situation.
Priya and khushi invested Rs.3000 together. Priya invested her amount at compound interest for ‘x/10’ years at x% rate interest and khushi invested half of her amount at compound interest and remaining half at simple interest at the same rate of interest for the same time period. [It is given that ‘x/10’ is a natural number] What is the value of ‘x’? Statement I: Ratio of investment of priya and khushi is 1 : 2 respectively and total sum received by them together after a particular time at x% rate of interest is Rs. 4280. Statement II: Simple interest received by khushi is Rs. 40 less than compound interest received by her. Statement III: Sum of simple interest and compound interest received by khushi after a certain time at x% rate of interest is Rs. 2500 Which of the above statement is redundant to find the answer of the given question?
Given below are three quantities named 1, 2 and 3. Based on the given information, you have to determine the relationship between the three quantities. You should use the given data and knowledge of Mathematics to choose between the possible answer. Quantity 1: An automobile financier claims to be lending money at simple interest, but he includes the interest every six months for calculating the principal. If he is charging an interest of 10%, the effective rate of interest becomes. Quantity 2: A sum of Rs. 725 is lent at the beginning of a year at a certain rate of interest. After 8 months, a sum of Rs. 362.50 more is lent but at the rate twice the former. At the end of the year, Rs. 33.50 is earned as interest from both the loans. What was the original rate of interest? Quantity 3: The difference between the compound interest and the simple interest on an amount of 15000 for 2 years is Rs. 96. What is the rate of interest per annum?
The question below is followed by statements I, II, and III. You have to determine whether the data given in the statement is sufficient for answering the question. You should use the data and your knowledge of Mathematics to choose the best possible answer. The difference between the compound interest and simple interest on a certain sum at a certain rate of interest per annum for two years is 204.20. What is the amount received on the sum of compound interest at the same rate of interest at the end of three years. I. The difference between the compound interest and the simple interest on the sum for three years is 804.258. II. The sum becomes Rs. 14528 at the end of one year. III. The compound interest on the sum for two years is 7% more than the simple interest on the sum for two years.
Each of the question below consists of a question and three statements number I, II and III given below it. You have to decide whether the data provided in the statement are sufficient to answer the question. What is the rate of interest? I. Sum A becomes double in 4 years when invested at a certain rate interest per annum. (Consider simple interest) II. Mamta invests Rs. 5000 for t years and sajan invests Rs 3000 for T years at same rate of interest. Ratio of interest earned is 4 : 7. (Consider simple interest) III. Sum S becomes quadruple when invested in compound interest for 2 years at a certain rate of interest per annum.
Whenever you have a hardware resource conflict, it will more likely be an IRQ conflict rather than an i/o conflict because:
In the following question, sentences of a paragraph have been jumbled and labelled as A, B, C and D. You are required to rearrange the jumbled sentences of the paragraph and mark your response accordingly by selecting the correct option. A: This particular operation was given the code name Operation Safed Sagar. B: The Kargil War, also known as the Kargil conflict, was an armed conflict between India and Pakistan that took place between May and July 1999 in the Kargil district of Kashmir and elsewhere along the Line of Control (LOC). C: The Indian Air Force's role in acting jointly with Indian Army ground troops during the war was aimed at flushing out regular and irregular troops of the Pakistani Army from vacated Indian Positions in the Kargil sector along the Line of Control. D: In India, the conflict is also referred to as Operation Vijay, which was the name of the Indian operation to clear the Kargil sector.
An amount of 12000 was borrowed partly at 4% simple interest and partly at 6% compound interest. Find out the time period when interest obtained through simple interest equates to that of interest obtained through compound interest after 4 years. Assume that amount borrowed is in ratio 5 : 7
Ram invests the same amount on simple interest and compound interest at a rate of interest 25% and 20% for 4 years and 3 years respectively. He achieved a total interest of Rs.12096. Find the simple interest when he invests the same amount for 2 years at a rate of interest of 22%.
Raju invested a sum of the amount in a bank at 10% interest rate. For the first three years, the interest calculated by the simple method. Then he switched to the compound interest plan in which the interest rate was one percentage point less than that of the simple interest plan. If the investment was for 5 years how much more interest amount he got because of the switching?