There's five factions:

Abnegation value the virtue of selflessness over any other. Abnegation initiates are forced upon attaining membership to reject a life of vanity and self-indulgence.

Amity value peace in the utmost degree. The members prefer to solve solutions through non-aggression and diplomacy. They are a highly democratic faction, voting on almost everything.

Candor value honesty and cannot tell lies. They say whatever is the truth, even if it gets them into trouble. They are often lawyers, because they are truthful about everything. 

Erudite values the virtue of intelligence and wisdom over any other. The members focus their lives on the pursuit of knowledge. 

The Dauntless value the virtue of bravery over any other, as such they train to fight and use weapons to prepare their bodies to respond to threats and challenges. The faction also emphasizes the idea of freedom from fear, and test this daily by attempting death-defying feats.