Cpcu - Ethics Exam Questions (207 Terms) With Verified Definitions Updated 2024

According to Kohlberg's Theory of Moral Development {Ans: when you find yourself in the position of deciding on an approach, the consequences of your approach will depend on the level at which your participants are on a scale of moral maturity}Values {Ans: relate to how an individual determines his or her own behavior, whereas ethics relate to the broader societal definition of moral conduct}PSAs (placement service agreements) or MSAs (marketing service agreements) {Ans: agreements between brokers and insurers that pay the broker additional commission income. However, under PSAs additional commissions are typically a function of premium volume rather than profitability}Common values generate {Ans: moral standards in the form of specific right and wrong}A powerful deterrence for questionable behavior {Ans: to appeal to the person's desire to be perceived as good. "What will others think?" and "Everybody is doing it" is the common approach to decision-making. "Wrong" is a breach of the expectations of the social order. Punishment is mainly for deterrence and failure to punish is "unfair." If someone else can get away with it, so can I.}The duty of a profession {Ans: is to fulfill a definite service within society that requires a