Exam (elaborations)
WEBCE – ETHICS EXAM QUESTIONS AND ANSWERS 2024
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WEBCE – ETHICS EXAM QUESTIONS AND ANSWERS 2024
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WEBCE – ETHICS EXAMWhat state standards, based on the National Association of Insurance
Commissioners (NAIC) model acts, specify minimum guidelines that insurance
claims adjusters are required to follow in fulfilling their duties? - ANSWERS-Unfair
claims settlement practices acts
Raphael Company bought workers compensation and general liability insurance
from Colossal Casualty Insurance Company. Colossal Casualty can rightfully expect
Raphael to perform all the following duties EXCEPT: - ANSWERS-create the policy
language that reflects Raphael's coverage needs
Which one of the following words is not a synonym for "fair" that one might find
in a thesaurus? - ANSWERS-Foul
A witness who described an auto accident had no connection or relationship to
either driver; she just happened to be there when the accident occurred. A jury
will probably believe this witness will present a fair account of what happened
because the witness is - ANSWERS-detached.
Before going to work for the insurance agency where Phil works, Olivia was a real
estate agent. After overhearing some of Olivia's conversations on her office
phone, Phil suspects Olivia is still selling real estate on the side. This might mean
any of the following EXCEPT: - ANSWERS-Phil should keep his observations to
himself
, Why is it difficult for a claims adjuster to be completely objective when
determining the cause of a loss? - ANSWERS-The adjuster's past experience with
similar claims might lead him or her to jump to conclusions without conducting a
thorough investigation
If Elaine Benes wanted to describe a person with a strong sense of equity and
integrity, she would be most likely to us the term - ANSWERS-fair
Which one of the following individuals is acting with altruism rather than egoism?
- ANSWERS-Briana tells a client that one of Briana's competitors offers a policy
that will better meet her specific needs.
Some people say Moses is greedy. Because he has a little more seniority than his
coworkers, Moses made sure he got the office with the best view, the desk with
the most drawers, and the computer with the biggest monitor. Anything but the
best is treated like a personal failure. Moses is not very popular with his
coworkers because his greed makes him overlook the concept of - ANSWERS-fair
dealing
After thoroughly examining the risk and reviewing the account's past losses, Eddy
calculated a proposed premium of $450,000. Lakisha, Eddy's supervisor, tells him
to get it down to $300,000, as there is competition for the account and this sale
will enable the office to meet its premium goals for the quarter. The account has
had $1.5 million in losses over the last 4 years. As an ethical insurance
professional, which one of the following is not among the options Eddy should
take in dealing with this situation? - ANSWERS-Cover his tail with notes in the file
that disparage Lakisha's recommendation.
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