CPCU Canon's Questions & Solutions

CPCU Canon's Questions & Solutions CPCUs should endeavor at all times to place the public interest above their own. Canon 1 CPCUs should seek continually to maintain and improve their professional knowledge, skills and competence. Canon 2 Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:03 / 0:15 Full screen Brainpower Read More Canon 3 CPCUs should obey all laws and regulations, and should avoid any conduct or activity that would cause unjust harm to others. Canon 4 CPCUs should be diligent in the performance of their occupational duties and should continually strive to improve the functioning of the insurance mechanism. Canon 5 CPCUs should assist in maintaining and raising professional standards in the insurance business. Canon 6 CPCUs should strive to establish and maintain dignified and honorable relationships with those whom they serve, with fellow insurance practitioners and with members of other professions. Canon 7 CPCUs should assist in improving the public understanding of insurance and risk management. Canon 8 CPCU should honor the integrity of the CPCU designation and respect the limitations placed on its use. Canon 9 CPCU should assist in maintaining the integrity of the Code of Professional Ethics. Rule 1.1 A CPCU has a duty to understand and abide by all Rules of conduct prescribed in the Code of Professional Ethics (the Code). Rule 1.2 A CPCU shall not advocate, sanction, participate in, cause to be accomplished, otherwise carry out through another, or condone any act the CPCU is prohibited by the Rules of the Code. Unselfish concern for the welfare of others Altruism Definition Because professionalism involves serving the public interest Why is altruism the one characteristic that most distinguishes professional behavior from unprofessional behavior? By doing their utmost to live up to the high aspirational standards expressed in the Canons. How should CPCU's place the public interest above their own? Rule 2.1 A CPCU shall keep informed on technical matters that are essential to the maintenance of the CPCU's competence in insurance, risk management, or related fields. Misrepresents himself or herself to the people with whom he or she deals. Why is it unethical for a person who does not maintain high levels of professional competence to claim to be a professional. Essential to remain a professional Why is it especially important that a CPCU maintain the competence developed through CPCU studies and other professional studies? Remain informed on technical matters that are essential to maintain competence in his or her particular position in insurance or risk management. What is the minimum standard a CPCU should meet in maintaining professional competence. Taking or teaching CPCU and IIA course or other insurance/risk management courses, teaching similar courses, writing articles, conducting research What types of activities will help CPCU meet the aspirational goal of improving professional knowledge, skills, and competence? Rule 3.1 In the conduct of business or professional activities, a CPCU shall not engage in any act or omission of a dishonest, deceitful or fraudulent nature. Rule 3.2 A CPCU shall not allow the pursuit of financial gain or other personal benefit to interfere with the exercise of sound professional judgement and skills. Rule 3.3 A CPCU shall not violate any law or regulation relating to professional activities or commit any felony. In addition to obeying laws and regulations, not to cause unjust harm to others. How to the aspirational goals of Canon 3 go beyond encouraging ethical behavior. Yes, Any CPCU convicted of a felony is subject to automatic suspension of his or her CPCU designation. Are CPCU's subject to discipline for illegal conduct outside the scope of their business conduct? Responsible for knowing the laws and regulations to which they are subject, they are always held responsible for violating law or regulation about which they are unaware. Under what circumstances is a CPCU to be held responsible for violating a law or regulation about which he or she was unaware. Canon 3 Short Term Legal Conduct Rule 3.1 Short Term Dishonesty, Deceit, Fraud Rule 3.2 Short Term Financial Gain, Personal Benefit Rule 3.3 Short Term Violation of Law or Regulation; Conviction of a Felony Challenge CPCU/Candidates perform professional activities ethically, maintain integrity of the CPCU designation Two complementary roles of Code of Professional Ethics of the American Institute for CPCU Ensure CPCUs understand ethical obligations Why is Code of Professional Ethics included in CPCU study materials? Those relating to ethics, orderly enforcement of the code Two types of provisions included in Code of Professional Ethics