1. The ethical principle, "Place the interests of others above your own," is an example of
b. positive actions or results-based ethics
2. Your
... [Show More] sister escaped from an abusive husband and is hiding in your basement when her husband knocks on your door, brandishes a pistol, and asks, "Is she in there?" This is
c. an ethical dilemma because it puts two ethical principles against one another
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3. A graduate insurance student attempted to determine the factors that lead insurance claimants to be honest despite their inherent self-interests. Which field of ethics did this study involve?
b. Metaethics
5. One of the Ten Commandments that serve the Judeo-Christian heritage is, "Thou shalt not kill." This assumption applies which type of normative ethics theory?
Duties
John Agent has received competitive quotes from two insurers on one of his commercial accounts that are very close in terms of coverage and pricing. He feels that one of the insurers will provide better claims service than the other and wants to recommend that insurer. Coincidentally, that insurer set a sales goal for its producers that, when met, will reward them with a free trip to Italy, and John is very close to hitting the magic number. When John presents his recommendation, he also informs the insurance manager for the account of this possibility. Why did John do this?
d. The sales contest presents John with a conflict of interest, which he is disclosing to avoid an appearance of unethical behavior
Peter President is the CEO of a major corporation. Peter tries very hard to follow his company's code of ethics and to act ethically when making business decisions. Which of the following would not be an example of ethical behavior?
c. Peter does not admit mistakes that might make his company look bad
What is the primary reason why an insurance industry pundit has suggested that increased diversity in the insurance workforce would improve the insurance industry's image?
d. A diversified workforce would better reflect society
The criteria CBL Media use to identify each year's best corporate citizens vary from year to year depending at least in part on changing social and political issues. The 2021 criteria used to evaluate corporate citizenship include all the following, EXCEPT:
d. social distance
Although he still has a lot to learn about insurance, John Agent always makes certain he can live up to his promises, is very punctual, is open and honest with clients about his compensation arrangements with insurers and takes pride in being honest. As a result, clients and underwriters probably perceive him as
c. ethical
1. Ursula Underwriter has taken a job with Gamma Insurance. The company has a code of ethics, which Ursula studies during new employee orientation. The code of ethics is written with a positive actions approach. This means that the code
a. broadly prescribes the types of actions and/or results that Gamma Insurance expects from its employees.
2. Inga Agent would like to join a professional organization. In order to join, it is likely that Inga must agree to
c. subscribe to the organization's code of ethics
3. Which of the following provisions of a code of ethics for insurance agents and brokers takes a rules-based approach?
c. I will follow all insurance laws relative to the conduct of my business
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4. If Abner Adjuster would like to specify certain practices that staff members in his claims adjusting firm should never engage in, his company's code of ethics should use the
d. rule-based approach
5. Mary's employer has a strict rule against hiring any relative as a new employee. When Joseph, currently a fellow employee, proposes to her, she is reluctant to accept an engagement ring until she is sure they can both keep their jobs. Mary asks Gabriella, the firm's chief operating officer (COO) for a ruling. Because Mary and Joseph are both valued employees and work in completely different departments, Gabriella agrees to make an exception and grant a(n):
d. waiver to the rule
1. Which of the following is least likely to be among the major topics found in a firm's ethics policy?
a. Cancellation
2. Ann Owen reports a violation of her company's code of ethics to the designated individual but insists that she not be identified as the accuser. Pursuing Ann's accusation without revealing her identity can have all the following disadvantages, EXCEPT:
b. Ann will receive retribution rather than attribution [Show Less]