Exam (elaborations)
ETHICS 311 WITH COMPLETE SOLUTIONS 100% 2023/2024
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ETHICS 311 WITH COMPLETE SOLUTIONS 100% 2023/2024
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ETHICS 311 WITH COMPLETE SOLUTIONS 100% 2023/2024What is the foundation of ethical behavior? - correct answer Morals, laws, and one's sense of ethics
Ethical behavior requires - correct answer more than just understanding the difference between right and wrong. It describes how we are expected to approach the numerous decisions we are faced with every day.
Which one of the following could create an ethical issue? - correct answer placing insurance with the insurer paying the highest commission
The ability to apply knowledge to risk and insurance circumstances is acquired through - correct answer professional training and job experience
An insurance professional is 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 - correct answer
professional judgement
Unselfish concern for the welfare of others is referred to as - correct answer altruism
Insurance rating systems discourage social responsibility. True or False - correct answer FALSE
In general, organizations and individuals who demonstrate high ethical values are more successful over the long term. True or False - correct answer TRUE
Penny is in the marketing department at Insurance Company. Which one of the following is an important truth for her to know? - correct answer 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.
All of the following are factors insurance professionals must balance with their responsibility to insurers, EXCEPT: - correct answer Customers' needs for a fair price
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