Ethical Standards & Professional Conduct Flashcards

A RIMS member serving as an expert witness in litigation must ensure that their testimony is:

Answer: Objective and based solely on professional expertise and facts

Expert witnesses have an overriding duty to the court to provide honest, objective testimony based on professional knowledge, not to advocate for the retaining party.

Which of the following is an example of an ethical 'safeguard' a risk manager might implement when a conflict of interest cannot be avoided?

Answer: Full disclosure to all affected parties and recusal from decision-making

When conflicts cannot be eliminated, full disclosure and recusal from related decisions are the recognized ethical safeguards.

The ethical principle of 'non-maleficence' as applied to risk management means:

Answer: Avoiding actions that cause unnecessary harm to clients, employers, or the public

Non-maleficence requires risk professionals to actively avoid causing harm through their recommendations, actions, or omissions.

When a risk management professional notices that a colleague's work product contains a significant methodological error, the most ethical response is to:

Answer: Privately inform the colleague of the error and offer assistance

Professional ethics favor addressing errors through direct, constructive communication with the colleague first, supporting professional growth and maintaining relationships.

Under RIMS professional standards, a risk manager who publicly represents themselves as a Certified Risk Manager (CRM) after their certification has lapsed is:

Answer: Violating professional conduct standards regarding credential misrepresentation

Representing a lapsed credential as current is a misrepresentation that violates professional conduct standards regardless of renewal intent.

A risk manager is approached by a journalist seeking to publish sensitive corporate risk information. The ethical and professional obligation is to:

Answer: Decline to share confidential information and refer the journalist to authorized spokespersons

Confidentiality obligations prohibit sharing sensitive corporate information with unauthorized parties, and media inquiries should be directed to designated organizational spokespersons.

Which element distinguishes ethical risk management practice from mere legal compliance?

Answer: Ethical practice may require higher standards of conduct than the legal minimum

Ethical standards in risk management often demand higher conduct than legally required, as law sets a floor while ethics set an aspirational standard.