Exam (elaborations)
CPCU Ethics Practice Quiz Questions with complete verified solution 2024.
- Course
- Institution
CPCU Ethics Practice Quiz Questions with complete verified solution 2024.
[Show more]
Content preview
CPCU Ethics Practice QuizQuestions with complete
verified solution 2024
Sadie, a new claims adjuster, was on the job just
two months when she recognized an ethical issue.
She knew from her training that ethics concern
making often difficult decisions
Select one:
A. Between two or more right answers.
B. Based on legal obligations.
C. Between right and wrong.
D. Based on professional standards. - answer A.
Between two or more right answers.
Greater North American Insurance Company
encounters a recurring claims situation in which it
can choose to pay out either of two different
amounts for any given situation, depending on the
interpretation of the claim. There are no
regulations that directly address the issue. The
policy they choose to formulate will be primarily
based on which one of the following?
Select one:
A. Principles
,B. Ethics
C. Laws
D. Morals - answer B. Ethics
Which one of the following situations primarily
represents a moral, as opposed to legal or ethical,
failure?
Select one:
A. An agent continues to sell insurance coverage
despite having her license suspended.
B. An applicant misrepresents previous work
experience to land a position.
C. An insurer inflates the pricing for a certain
product line for which they have little competition.
D. An insurer unfairly discriminates against
applicants who live in certain ZIP codes. - answer
B. An applicant misrepresents previous work
experience to land a position.
The sales team at Local Insurance Company
receives periodic training on insurance laws and
regulations. Which one of the following statements
is correct regarding what the sales team needs to
realize?
Select one:
,A. Regulatory control over the business of
insurance is primarily intended to protect
shareholders.
B. Laws specify right and wrong behavior and are
important to orderly behavior.
C. Laws on their own are enough to dictate moral
behavior.
D. Laws exist outside the scope of ethical decision
making. - answer B. Laws specify right and wrong
behavior and are important to orderly behavior.
Suzie is a trainer at an insurer who is conducting a
class on ethics. Which one of the following
statements is correct concerning what she needs
to impress upon her students?
Select one:
A. A purely moral response to a situation cannot be
inappropriate.
B. Ethics are an individual's personal beliefs about
right and wrong.
C. Ethics are general codes of expected behavior
that are derived from laws.
D. Ethics entail knowing what to do when a
situation presents more than one "right" answer. -
answer D. Ethics entail knowing what to do when a
situation presents more than one "right" answer.
, Laura, a claims processor for Great American
Insurance Company, notices that a claim in her
queue involves a personal friend. While the claim
itself is legitimate, the suggested settlement
amount appears to be higher than similar claims in
Laura's experience. Her decision on whether to
refer her friend's claim for further investigation or
to pay the stated amount primarily involves which
one of the following?
Select one:
A. Ethics
B. Principles
C. Laws
D. Morals - answer D. Morals
Which one of the following statements concerning
laws is true?
Select one:
A. Laws are enough to dictate moral behavior.
B. Laws describe moral responses to conflict.
C. Laws impose a sense of societal decency and
order.
D. Laws are ethical tenets. - answer C. Laws
impose a sense of societal decency and order.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller GUARANTEEDSUCCESS. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
80202 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now