ETHICS 311 ANSWERS AND QUESTIONS SET A+
✔✔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.
✔✔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.
