Making iTerm to translate 'meta-key' in the same way as in other OSes

Question

In bash shell with emacs key-binding, you can use key combination like M-f, M-b to move one word forward or backward on the shell prompt respectively. Usually, the meta key

Answer 1

Cmd+., Profiles, Keys and choose Left option Key acts as: +Esc.

Works for me in emacs, though I'm not sure if it will have any other undesirable effects.