Ethics in Insurance FINAL EXAM (NE 6000169228)

“Morals and values that guide decisions and behavior” is the definition of which of the following?

A producer suspects a client lied on an insurance application but does not ask more questions about the subject to avoid being viewed as dishonest. The producer’s behavior is called _____.

Ethics can be defined as the ____ and ____ that guide decisions and behavior.

What legal duty under the law of agency requires the agent to yield his or her own interests in favor of the principal’s interests?

Which of the following is NOT considered a conflict of interest in the insurance industry?

_____ is the withholding of information material to the insurance coverage at hand.

Which of the following is NOT a bad faith action?

What ethical philosophy focuses on outcomes and determines conduct is ethical if the outcome is kind, good, fair, and/or right?

The purpose of insurance disclosure is to _____.

Which of the following individuals does not provide services as a fiduciary?

Membership in a professional organization, or certification alone, _____.

Which of the following is NOT a component of an unfair trade practice?

Which of the following is NOT an element of a defamatory statement?

Most unfair claims settlement practices fall into one of the following categories EXCEPT:

State insurance laws do not apply to which of the following types of insurance plans that are regulated by ERISA?

Debra has been experiencing pressure from other agents to commit “minor” misrepresentations that would help sell more contracts. Legal aspects aside, Debra takes a strong moral stance against this behavior and refuses to participate. In this way, Debra demonstrates _____.

Shira is considered by her peers to have exceptionally high moral standards. She is an example of which of the following?

Legally, an agent has a(n) _____ duty to yield his interests in favor of his principal’s.

The four elements of the Theory of Planned Behavior include all the following EXCEPT:

Khaled is an insurance agent who strives to always speak and behave honestly, use clear language to avoid misleading clients, and ensure all necessary information is present to initiate a contract. Khaled acts on the principle of _____.

An individual acting in bad faith is one who intends to deceive, avoid fulfilling an obligation, or _____.

A captive agent may represent _____.

Focusing on the client’s goals and interests is the principal tenet of _____.

Misrepresentation, rebating, and boycotting are all _____.

If a producer exhibits “virtue,” the producer’s conduct shows _____.