ACE Regulatory Compliance & Law

Question 1

What is the foundation of professional ethics in ACORD Certified Expert?

Accepted Answer

Acting with integrity, honesty, and accountability

Answer

Maximizing profit at all costs

Answer

Avoiding difficult decisions

Answer

Following only verbal instructions

Question 2

In ACORD Certified Expert, what should a professional do when facing a conflict of interest?

Accepted Answer

Disclose the conflict and recuse if necessary

Answer

Ignore it

Answer

Hide the conflict

Answer

Let someone else decide

Question 3

Which best describes confidentiality in ACORD Certified Expert?

Accepted Answer

Protecting sensitive information from unauthorized disclosure

Answer

Sharing information freely

Answer

Keeping all information secret permanently

Answer

Only sharing verbally

Question 4

What is the role of a code of conduct in ACORD Certified Expert?

Accepted Answer

It establishes expected behavioral and professional standards

Answer

It is optional

Answer

It only applies to new employees

Answer

It replaces all laws

Question 5

When a ACORD Certified Expert professional discovers a regulatory violation, what is appropriate?

Accepted Answer

Report it through proper channels immediately

Answer

Cover it up

Answer

Wait to see if it recurs

Answer

Discuss it informally only

Question 6

What does informed consent require in ACORD Certified Expert?

Accepted Answer

Full disclosure of relevant information before obtaining agreement

Answer

A quick verbal agreement

Answer

Only a signed document

Answer

Agreement from a third party