The First Thing to Consider When Faced with an Ethical

question 84

Multiple Choice

The first thing to consider when faced with an ethical dilemma would be

• A) Identify the consequences
• B) Check with legal counsel
• C) Gather the facts
• D) Identify the obligations
• E) Report the situation immediately to the company's CEO

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Definitions:

Insurable Interest

The stake in the value of an item, life, or event for which an insurance policy is purchased to mitigate the risk of loss.

Creditor

An individual or entity to whom money is owed by a debtor.

Security Interest

A legal claim on assets granted to a creditor to secure a debt or obligation, providing the right to take property upon failure to repay.

Contribution

The right of insurers (more than one) to share a loss where the policies so provide.