Ethics 311 Exam Questions and
Answers| Latest Update
What could create an ethical issue?
Placing insurance with the insurer paying the highest commission
Unselfish concern for the welfare of others is referred to as:
Altruism.
Penny is in the marketing department at Insurance Company. Which one of the
following is an important truth for her to know?
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 success.
Oliver is a reinsurance intermediary placing reinsurance for a variety of 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 one of the following?
Oliver still has significant duties to the public and primary insurer policyholders.
, Elmer is a commercial underwriter at ABC Insurance Company. Elmer and one of
his co-workers, Jeff, play golf together regularly at the local public course. One
weekend, Jeff suggests that instead they play at an expensive private club. He
explains to Elmer that the owner of a new commercial account Jeff recently
wrote gave Jeff a membership to the club. The situation makes Elmer
uncomfortable because he knows that ABC has a strict policy about not
accepting gifts from policyholders. Elmer has an ethical dilemma and is torn
about whether to inform his employer about the gift or not. Which one of the
following types of ethical conflicts does this situation most clearly represent?
Truth versus loyalty.
Burt's young son belongs to a scouting organization. A father of a fellow scout
has volunteered to be the group's treasurer. Burt, as a bond underwriter, knows
from an application he had rejected that the other father had been in trouble for
embezzlement, but Burt's employer has a policy against disclosing publicly that
which is learned in the course of underwriting. Burt is contemplating whether
he should reveal to the scouts that which he knows. His dilemma could probably
be resolved by:
Analyzing whether any laws, regulations, or standards apply to the situation.
Ariel is facing an ethical dilemma at work and is using a checklist for ethical
decision making to help resolve it. At the end of his experience, he should:
Internalize everything learned.
Answers| Latest Update
What could create an ethical issue?
Placing insurance with the insurer paying the highest commission
Unselfish concern for the welfare of others is referred to as:
Altruism.
Penny is in the marketing department at Insurance Company. Which one of the
following is an important truth for her to know?
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 success.
Oliver is a reinsurance intermediary placing reinsurance for a variety of 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 one of the following?
Oliver still has significant duties to the public and primary insurer policyholders.
, Elmer is a commercial underwriter at ABC Insurance Company. Elmer and one of
his co-workers, Jeff, play golf together regularly at the local public course. One
weekend, Jeff suggests that instead they play at an expensive private club. He
explains to Elmer that the owner of a new commercial account Jeff recently
wrote gave Jeff a membership to the club. The situation makes Elmer
uncomfortable because he knows that ABC has a strict policy about not
accepting gifts from policyholders. Elmer has an ethical dilemma and is torn
about whether to inform his employer about the gift or not. Which one of the
following types of ethical conflicts does this situation most clearly represent?
Truth versus loyalty.
Burt's young son belongs to a scouting organization. A father of a fellow scout
has volunteered to be the group's treasurer. Burt, as a bond underwriter, knows
from an application he had rejected that the other father had been in trouble for
embezzlement, but Burt's employer has a policy against disclosing publicly that
which is learned in the course of underwriting. Burt is contemplating whether
he should reveal to the scouts that which he knows. His dilemma could probably
be resolved by:
Analyzing whether any laws, regulations, or standards apply to the situation.
Ariel is facing an ethical dilemma at work and is using a checklist for ethical
decision making to help resolve it. At the end of his experience, he should:
Internalize everything learned.
