3/10/26, 12:29
PM
ETHICS 311 FINAL EXAM WITH COMPLETE QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS)/GRADE A+ ASSURED.
Which of the following could create an B.) Placing insurance with the insurer paying the highest
ethical issue? commission
A.) not paying premiums when due
B.)Placing insurance with the insurer
paying the highest commission
C.) exaggerating a proof of loss
D.) lying about educational background
The ability to apply knowledge to risk and Professional training and job experience
insurance circumstances is acquired
through
An insurance professional is Professional judgement
responsible for his or her thoughts,
decisions, and actions. Knowledge, skill,
and expertise guide decisions and
ensure that the insurance professional
uses his or her
Unselfish concern for the welfare of Altruism
others is referred to as
Penny is in the marketing department at C.) organizations that focus on short term profits and fail
insurance to adhere to high ethical standards often do so at the
company. Which one of the following is expense of their long term success.
an important truth for her to know?
A.) maintaining high ethical standards
cannot directly result in an increase
in an organization's overall
profitability.
B.)organizations with high ethical
standards and those without such
high ethical standards are equally
susceptible to allegations of negligence
that could lead to tort actions.
C.) organizations that focus on short
term profits and fail to adhere to high
ethical standards often do so at the
expense of their long term
https://quizlet.com/838153533/ethics-311-flash- 1/
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, 3/10/26, 12:29
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success.
D.) consumers are more concerned
with short term relationships than
about authentic relationships with
companies with high ethical
standards
All of the following are factors insurance B.) Insurance professionals' need to maximize personal
professionals must balance with their income
responsibility to insurers,
EXCEPT
A.) customers need for a fair price
B.)Insurance professionals' need to
maximize personal income
C.) Insurance professionals, duty to
Market adequate coverage at a fair
profit
D.) customers' needs for comprehensive
coverage
T/F As a broker Josh has a responsibility False
only to his clients, the policyholders
Oliver is a reinsurance intermediary B.) Oliver still has significant duties to the public and
placing reinsurance for a variety of primary insurer policyholders
insurers with a variety of reinsurers. He
has no contact with the public or
policyholders of the
insurers for which he places reinsurance. In
this position,
Oliver's duties are best characterized by
which of the following?
A.) Oliver only owes his duties to the
insurers for which he places business
and the reinsurance
B.) Oliver still has significant duties
to the public and primary insurer
policyholders
C.) Oliver only owes his duties to the
insurers for which he places business
D.)Oliver owes his primary duties to
https://quizlet.com/838153533/ethics-311-flash- 2/
cards/ 6
PM
ETHICS 311 FINAL EXAM WITH COMPLETE QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS)/GRADE A+ ASSURED.
Which of the following could create an B.) Placing insurance with the insurer paying the highest
ethical issue? commission
A.) not paying premiums when due
B.)Placing insurance with the insurer
paying the highest commission
C.) exaggerating a proof of loss
D.) lying about educational background
The ability to apply knowledge to risk and Professional training and job experience
insurance circumstances is acquired
through
An insurance professional is Professional judgement
responsible for his or her thoughts,
decisions, and actions. Knowledge, skill,
and expertise guide decisions and
ensure that the insurance professional
uses his or her
Unselfish concern for the welfare of Altruism
others is referred to as
Penny is in the marketing department at C.) organizations that focus on short term profits and fail
insurance to adhere to high ethical standards often do so at the
company. Which one of the following is expense of their long term success.
an important truth for her to know?
A.) maintaining high ethical standards
cannot directly result in an increase
in an organization's overall
profitability.
B.)organizations with high ethical
standards and those without such
high ethical standards are equally
susceptible to allegations of negligence
that could lead to tort actions.
C.) organizations that focus on short
term profits and fail to adhere to high
ethical standards often do so at the
expense of their long term
https://quizlet.com/838153533/ethics-311-flash- 1/
cards/ 6
, 3/10/26, 12:29
PM
success.
D.) consumers are more concerned
with short term relationships than
about authentic relationships with
companies with high ethical
standards
All of the following are factors insurance B.) Insurance professionals' need to maximize personal
professionals must balance with their income
responsibility to insurers,
EXCEPT
A.) customers need for a fair price
B.)Insurance professionals' need to
maximize personal income
C.) Insurance professionals, duty to
Market adequate coverage at a fair
profit
D.) customers' needs for comprehensive
coverage
T/F As a broker Josh has a responsibility False
only to his clients, the policyholders
Oliver is a reinsurance intermediary B.) Oliver still has significant duties to the public and
placing reinsurance for a variety of primary insurer policyholders
insurers with a variety of reinsurers. He
has no contact with the public or
policyholders of the
insurers for which he places reinsurance. In
this position,
Oliver's duties are best characterized by
which of the following?
A.) Oliver only owes his duties to the
insurers for which he places business
and the reinsurance
B.) Oliver still has significant duties
to the public and primary insurer
policyholders
C.) Oliver only owes his duties to the
insurers for which he places business
D.)Oliver owes his primary duties to
https://quizlet.com/838153533/ethics-311-flash- 2/
cards/ 6
