CAS Professional Ethics and Standards 1

Question 1

What is the foundational principle of professional ethics in CAS practice?

Accepted Answer

Acting in the best interest of the client or patient

Answer

The core of professional ethics is prioritizing the welfare and best interests of clients or patients above other considerations.

Question 2

What should a CAS professional do when facing a conflict of interest?

Accepted Answer

Disclose the conflict and recuse if necessary

Answer

Transparency through disclosure and recusal when appropriate maintains professional integrity and public trust.

Question 3

Which action constitutes a breach of client confidentiality?

Accepted Answer

Sharing client information with unauthorized parties without consent

Answer

Sharing client information without consent or legal authorization violates confidentiality principles.

Question 4

What is the ethical obligation regarding continuing education?

Accepted Answer

Maintaining current knowledge and competence throughout ones career

Answer

Professionals have an ethical duty to maintain and update their knowledge and skills to provide competent service.

Question 5

How should a professional handle a situation where institutional policy conflicts with ethical standards?

Accepted Answer

Advocate for policy change while following ethical guidelines

Answer

Professionals should advocate for policy changes while maintaining ethical standards, seeking resolution through proper channels.

(CAS) Casualty Actuarial Society Practice Test