Quiz | April 2011
The Money & Ethics Quiz, 2010 Edition
When you've completed the quiz, you'll find links to Knight's column archive and our first Money & Ethics quiz from 2008.
Quiz
The Money & Ethics Quiz, 2010 Edition
Question 1 of 10
A. Yes, you can cut your losses and walk away.
B. No, default is ethical only for people who can't afford their home because of circumstances beyond their control.
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Quiz
The Money & Ethics Quiz, 2010 Edition
Question 1 of 10
The right answer is B. No, default is ethical only for people who can't afford their home because of circumstances beyond their control..
Homeowners (and investors) should continue honoring their contractual obligations with all the resources at their disposal. Besides, defaulting on your mortgage could ruin your credit rating for a long time and make it hard for you to rent or buy a new home.
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Quiz
The Money & Ethics Quiz, 2010 Edition
Question 2 of 10
A. Go straight to the boss and tell on that person.
B. Speak in confidence with Human Resources without identifying the colleague, and ask the colleague to report himself.
C. Let it go -- it's none of your business.
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Quiz
The Money & Ethics Quiz, 2010 Edition
Question 2 of 10
The right answer is B. Speak in confidence with Human Resources without identifying the colleague, and ask the colleague to report himself..
Try to get the HR manager to agree that if the employee comes forward voluntarily to correct his résumé, he won't be fired. But don't be surprised if the manager says that a probationary memo must be placed in the employee's personnel file. Then go to your colleague and encourage him to correct his record with the HR department.
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The Money & Ethics Quiz, 2010 Edition
Question 3 of 10
A. Yes, if you're honest about your motivation.
B. No, that would make you a gold digger.
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The Money & Ethics Quiz, 2010 Edition
Question 3 of 10
The right answer is A. Yes, if you're honest about your motivation..
There's nothing unethical about marrying someone you're not in love with as long as you tell your potential spouse your feelings and primary motivation for the marriage. And you must be honest with
yourself about whether you believe you can be faithful. You'll probably be asked to sign a prenup, too.
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Quiz
The Money & Ethics Quiz, 2010 Edition
Question 4 of 10
A. Yes
B. No
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The Money & Ethics Quiz, 2010 Edition
Question 4 of 10
The right answer is B. No.
People who can afford all kinds of insurance -- health, life, disability and so on -- but choose to "go naked" are essentially thumbing their noses at their families and society by expecting someone else to pay for their crises.
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The Money & Ethics Quiz, 2010 Edition
Question 5 of 10
A. It's wrong to saddle future generations with massive debt.
B. No, it may be fiscally irresponsible but not unethical.
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The Money & Ethics Quiz, 2010 Edition
Question 5 of 10
The right answer is A. It's wrong to saddle future generations with massive debt..
Some people believe that it is acceptable -- indeed, even principled -- to run budget deficits in times of recession, to relieve the distress of the unemployed and stimulate the economy. I'll accept that -- as long as the budget is brought back into balance, ideally with spending cuts, as soon as strong growth resumes. But passing on the federal debt to future generations is unethical.
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The Money & Ethics Quiz, 2010 Edition
Question 6 of 10
A. Yes
B. Not usually
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The Money & Ethics Quiz, 2010 Edition
Question 6 of 10
The right answer is B. Not usually.
It depends on how restrictive the clause is. In some states -- notably California -- noncompete agreements are generally not allowed. Most states deem them enforceable only for a limited period. But in general, noncompete agreements aren't ethical because they prevent people from using their experience to continue their careers elsewhere. There are laws to protect a company from damaging behavior, such as theft of trade secrets, by a former employee.
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The Money & Ethics Quiz, 2010 Edition
Question 7 of 10
A. Go for it -- you need the money.
B. It's unethical to claim discrimination you didn't experience.
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The Money & Ethics Quiz, 2010 Edition
Question 7 of 10
The right answer is B. It's unethical to claim discrimination you didn't experience..
This would be a classic lawyer’s shakedown of a distressed company that has apparently done nothing wrong. The lawyer is betting that
your former employer would rather give you a quick $10,000 than have to incur the costs -- in staff time and legal bills -- of defending
itself against a baseless lawsuit.
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The Money & Ethics Quiz, 2010 Edition
Question 8 of 10
A. No, it's not. He should have shared his windfall with you.
B. You agreed to his offered price. Let it go.
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Quiz
The Money & Ethics Quiz, 2010 Edition
Question 8 of 10
The right answer is A. No, it's not. He should have shared his windfall with you..
He acted unethically, regardless of whether he knew at the time just how valuable your item was. If he discovered its true worth later (but before selling it), an ethical dealer would have contacted you to discuss what he had learned -- not offering to return your merchandise,
but to share with you some portion of the future profit.
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Quiz
The Money & Ethics Quiz, 2010 Edition
Question 9 of 10
A. Yes
B. No
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Quiz
The Money & Ethics Quiz, 2010 Edition
Question 9 of 10
The right answer is B. No.
It's not as if you're hiding a severe structural defect. Houses have a market value that should be independent of both negative and positive traits of their previous occupants, especially after so long a period. Most buyers know little -- and have no way of finding out -- about the private lives of a house's earlier owners, and most probably don't care. But check your state's laws; some require disclosure of crimes in the recent past.
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Quiz
The Money & Ethics Quiz, 2010 Edition
Question 10 of 10
A. Take it. You owe your new employer nothing.
B. It would be unethical to jump ship so quickly.
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Quiz
The Money & Ethics Quiz, 2010 Edition
Question 10 of 10
The right answer is B. It would be unethical to jump ship so quickly..
You owe your first employer longer service in return for the good faith shown in hiring you and the cost of training you. How much longer? Hard to say, but more than one month. You should tell the second firm that you're honored by the offer but feel an obligation to stay where you are. Then keep in touch with the company and hope another position opens later.
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The Money & Ethics Quiz, 2010 Edition
Results: 0 out of 10 Right
See Also
It's Not Okay to Skip Out on a Mortgage
The Money & Ethics Quiz, 2008 Edition
Should I Blow the Whistle on a Co-Worker?
Financial Truth or Bunk, Round I
Financial Truth or Bunk, Round II
Should You Wed for Money Rather Than Love?
Gaming the New Rules of Health Insurance
More Money & Ethics Columns
