Exam 1: Ethical Theory, Philosophical Foundations, Our Reasoning Flaws, and Types of Ethical Dilemmas

The Graduate Management Admissions Council announced that it would begin using a "palm vein" scan to eliminate proxy test taking after the FBI broke up a ring of six test takers who had taken the GMAT for 590 applicants, for a price of $3,000 each.  Which ethical category does the conduct of the proxy test takers fit into?

Making your rules assuming you don't know which side you will be on in any given dilemma is the Theory of Justice.

Part of a credo includes a list of lines you would never cross to be successful.

A false impression, unlike lying, is not an ethical violation.

Payments of royalties from drug sales by a pharmaceutical firm to the university where a researcher conducting studies has validated the firm's claims is a conflict of interest.

You work for a construction firm that is submitting a bid for the construction of a new company headquarters building for Smithco. A friend you have known since high school works in Smithco's capital budgeting area and has full knowledge of all the bids from all firms. It would be unethical for your friend to share that information with you before you submitted your bid.

Ethical egoism is selfishness.

The contractarians are best represented by:

Volkswagen's defeat device allowed it to record lower levels than actual emissions of its cars.

Which of the following phrases does not signal a potential ethical pitfall?

A credo consists of how you define yourself by job title and income.

Which of the following is an example of utilitarianism?

Taking advantage of a party in a contract situation due to the party's inexperience, and not due to any lack of disclosure on your part, is ethical.

What rationalization do most speeders use to justify driving in excess of the speed limit?

It is not your responsibility to report a co-worker who leaves the office early each day without taking time off.

What were the effects of the Piper High School cheating issues on Piper?

A journalist who fails to disclose his or her financial interest in the subject of a story he or she is covering has a conflict of interest.

What is the difference between a code of ethics and a credo?

Former-President George W. Bush has proposed reforming Social Security by asking those from ages 18-40 to forego their social security and invest their own funds in a retirement/pension plan. What ethical theory most applies to this proposal?

Customer A has $250 in his account.  Six checks, totaling $325, have come in for payment.  One check is for $257.00, with the remaining five checks making up the difference to the $325 total.  First Bank pays the five smallest checks first, honors the $257.00 with overdraft protection, and charges the customer one overdraft fee.  Second Third Bank pays the largest ($257) check first, pays the five remaining smaller checks with overdraft protection, and then charges the customer five overdraft fees. Which of the following is correct?