Exam (elaborations)
ARM questions and answers already solved 2024
- Course
- Institution
ARM questions and answers already solved 2024
[Show more]
Content preview
ARM : EthicsWhich one of the following could create an ethical issue?
A. Lying about educational background
B. Exaggerating a proof of loss
C. Not paying premiums when due
D. Placing insurance with the insurer paying the highest commission - correct
answer ✔D. Placing insurance with the insurer paying the highest
commission
Ethical behavior is based on moral conduct, which implies
A.One knows what is right and what is wrong.
B. One knows and understands laws and regulations.
C. One knows what to do when faced with more than one right answer.
D. One can identify when a conflict exists. - correct answer ✔A.One knows
what is right and what is wrong.
The ability to apply knowledge to risk and insurance circumstances is
acquired through
A. Professional training and job experience.
B. A sense of altruism.
C. Participation in a society.
D. Ethics. - correct answer ✔A. 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
A. Full authority
B. Professional conduct
C. Professional judgment - correct answer ✔C. Professional judgment
Unselfish concern for the welfare of others is referred to as
A. Empathy.
B. Altruism
C. Politeness.
D. Consideration. - correct answer ✔B. 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?
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 LEWISSHAWN55. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67163 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now