The term 'SET OF MORAL PRECEPTS' can be summarized as an ETHIC, which is a five-letter word. An ETHIC is a set of moral principles or values that guide the behavior of an individual or group. It is often used to refer to a code of conduct accepted by a particular group or culture, such as religious ethics or professional ethics. Ethical behavior is based on the idea that people should act in a way that is beneficial to society and that respects the rights of others.