Practice Test Geeks(RIMS) Risk and Insurance Management Society Certification Practice Test
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Ethical Standards & Professional Conduct Flashcards

7 cards from real RIMS practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 7 Ethical Standards & Professional Conduct flashcards as text

  1. A risk manager discovers that their employer is underreporting workplace injuries to avoid higher workers' compensation premiums. What is the most ethical course of action?

    Answer: Report the misconduct internally and, if unresolved, to the appropriate regulatory authority

    RIMS ethical standards require risk professionals to act with integrity, which includes reporting illegal or unethical practices through appropriate channels.

  2. Which principle in the RIMS Code of Ethics requires members to maintain and improve their professional knowledge and skills?

    Answer: Competence

    The competence principle obligates RIMS members to continually develop their expertise to serve clients and employers effectively.

  3. A RIMS member is asked to provide a risk assessment for a project in an area outside their expertise. The ethical response is to:

    Answer: Disclose limitations and collaborate with a qualified expert

    Professional ethics require acknowledging the boundaries of one's competence and seeking appropriate expertise while remaining engaged when possible.

  4. When a risk manager receives gifts or entertainment from a vendor seeking to win a contract, the primary ethical concern is:

    Answer: Conflict of interest and impaired objectivity

    Gifts from vendors create actual or perceived conflicts of interest that can compromise the risk manager's objectivity and professional judgment.

  5. Under RIMS ethical guidelines, confidential risk information obtained during professional duties may be disclosed when:

    Answer: Required by law or authorized by the client/employer

    Confidentiality obligations can only be overridden by legal requirements or explicit authorization from the party to whom the duty is owed.

  6. A risk manager learns that a professional certification held by a colleague was obtained through fraudulent means. According to professional conduct standards, the risk manager should:

    Answer: Report the matter to the certifying body

    Professional conduct standards require reporting credential fraud to the certifying body to protect the integrity of the profession.

  7. Which action best demonstrates adherence to the RIMS ethical principle of fairness in professional dealings?

    Answer: Applying consistent standards when evaluating all competing vendors

    Fairness requires consistent, transparent criteria applied equally to all parties, ensuring impartial professional judgment.