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Updated on: 28 Sep 2019, 04:05
Originally posted by kingb on 06 Nov 2012, 19:24.
Last edited by Sajjad1994 on 28 Sep 2019, 04:05, edited 2 times in total.
Last edited by Sajjad1994 on 28 Sep 2019, 04:05, edited 2 times in total.
Updated - Complete topic (720).
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Question 1
A
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
25%
(medium)
Question Stats:
74% (02:48) correct
26%
(03:03) wrong
based on 607
sessions
History
Date
Time
Result
Not Attempted Yet
Question 2
C
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
25%
(medium)
Question Stats:
70% (01:08) correct 30%
(01:16) wrong
based on 640
sessions
History
Date
Time
Result
Not Attempted Yet
Question 3
B
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
5%
(low)
Question Stats:
91% (00:44) correct 9%
(01:02) wrong
based on 630
sessions
History
Date
Time
Result
Not Attempted Yet
Question 4
E
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
15%
(low)
Question Stats:
75% (00:55) correct 25%
(00:45) wrong
based on 616
sessions
History
Date
Time
Result
Not Attempted Yet
Question 5
D
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
5%
(low)
Question Stats:
86% (00:57) correct 14%
(01:06) wrong
based on 579
sessions
History
Date
Time
Result
Not Attempted Yet
Shortly after September 11, 2001, the United States began requesting additional financial information about persons of interest by subpoenaing records located at the SWIFT banking consortium. SWIFT, which routes trillions of dollars a day, faced an ethical dilemma: fight the subpoenas in order to protect member privacy and the group's reputation for the highest level of confidentiality, or, comply and provide information about thousands of financial communications in the hope that lives will be saved. SWIFT decided to comply in secret, but in late June 2006, four major U.S. newspapers disclosed SWIFT's compliance. This sparked a heated public debate over the ethics of SWIFT's decision to reveal ostensibly confidential financial communications.
Analyzing the situation in hindsight, three ethical justifications existed for not complying with the Treasury Department's requests. First, SWIFT needed to uphold its long-standing values of confidentiality, non-disclosure, and institutional trust. The second ethical reason against SWIFT's involvement came with inadequate government oversight as the Treasury Department failed to construct necessary safeguards to ensure the privacy of the data. Third, international law must be upheld and one could argue quite strongly that the government's use of data breached some parts of international law.
Although SWIFT executives undoubtedly considered the aforementioned reasons for rejecting the government's subpoena, three ethical justifications for complying existed. First, it could be argued that the program was legal because the United States government possesses the authority to subpoena records stored within its territory and SWIFT maintained many of its records in Virginia. Second, it is entirely possible that complying with the government's subpoena thwarted another catastrophic terrorist attack that would have cost lives and dollars. Third, cooperating with the government did not explicitly violate any SWIFT policies due to the presence of a valid subpoena. However, the extent of cooperation certainly surprised many financial institutions and sparked some outrage and debate within the financial community.
While SWIFT had compelling arguments both for agreeing and refusing to cooperate with the U.S. government program, even in hindsight, it is impossible to judge with certitude the wisdom and ethics of SWIFT's decision to cooperate as we still lack answers to important questions such as: what information did the government want? What promises did the government make about data confidentially? What, if any, potentially impending threats did the government present to justify its need for data?
Analyzing the situation in hindsight, three ethical justifications existed for not complying with the Treasury Department's requests. First, SWIFT needed to uphold its long-standing values of confidentiality, non-disclosure, and institutional trust. The second ethical reason against SWIFT's involvement came with inadequate government oversight as the Treasury Department failed to construct necessary safeguards to ensure the privacy of the data. Third, international law must be upheld and one could argue quite strongly that the government's use of data breached some parts of international law.
Although SWIFT executives undoubtedly considered the aforementioned reasons for rejecting the government's subpoena, three ethical justifications for complying existed. First, it could be argued that the program was legal because the United States government possesses the authority to subpoena records stored within its territory and SWIFT maintained many of its records in Virginia. Second, it is entirely possible that complying with the government's subpoena thwarted another catastrophic terrorist attack that would have cost lives and dollars. Third, cooperating with the government did not explicitly violate any SWIFT policies due to the presence of a valid subpoena. However, the extent of cooperation certainly surprised many financial institutions and sparked some outrage and debate within the financial community.
While SWIFT had compelling arguments both for agreeing and refusing to cooperate with the U.S. government program, even in hindsight, it is impossible to judge with certitude the wisdom and ethics of SWIFT's decision to cooperate as we still lack answers to important questions such as: what information did the government want? What promises did the government make about data confidentially? What, if any, potentially impending threats did the government present to justify its need for data?
1) Which of the following can be inferred from the passage?
A) No clear cut answer as to the legality of SWIFT's cooperation existed
B) SWIFT failed to adequately consult its legal staff before deciding to cooperate
C) The volume of money routed through SWIFT declined after its cooperation became public
D) U.S. authorities threatened criminal charges if SWIFT refused their subpoenas
E) Treasury Department officials objected to the publication of information about its classified program
A) No clear cut answer as to the legality of SWIFT's cooperation existed
B) SWIFT failed to adequately consult its legal staff before deciding to cooperate
C) The volume of money routed through SWIFT declined after its cooperation became public
D) U.S. authorities threatened criminal charges if SWIFT refused their subpoenas
E) Treasury Department officials objected to the publication of information about its classified program
Correct Answer: A
2) Inferring from the passage, which of the following constituted an ethical justification for SWIFT complying with the government?
A) The U.S. government can subpoena information that pertains to its citizens
B) SWIFT executives believed another catastrophic attack was imminent
C) Providing data to the government based upon a valid subpoena did not explicitly violate SWIFT policy
D) Despite ostensibly poor oversight, senior Treasury Department officials assured SWIFT that data would be kept confidential
E) U.S. officials told SWIFT officials exactly why Treasury needed the information
A) The U.S. government can subpoena information that pertains to its citizens
B) SWIFT executives believed another catastrophic attack was imminent
C) Providing data to the government based upon a valid subpoena did not explicitly violate SWIFT policy
D) Despite ostensibly poor oversight, senior Treasury Department officials assured SWIFT that data would be kept confidential
E) U.S. officials told SWIFT officials exactly why Treasury needed the information
Correct Answer: C
3) The author suggests which of the following is the most appropriate conclusion of an analysis of the ethics of SWIFT's decision?
A) SWIFT acted inappropriately as it compromised its long-standing values of integrity, privacy, and confidentiality
B) SWIFT's actions cannot be judged with perspicuity as answers to important questions are still unknown
C) SWIFT acted properly as it complied with the requests of a sovereign government in an attempt to save lives
D) SWIFT's actions endangered the flow of commerce by sparking public outrage at an important institution
E) SWIFT's actions were appropriate initially, yet should have been discontinued prior to June 2006
A) SWIFT acted inappropriately as it compromised its long-standing values of integrity, privacy, and confidentiality
B) SWIFT's actions cannot be judged with perspicuity as answers to important questions are still unknown
C) SWIFT acted properly as it complied with the requests of a sovereign government in an attempt to save lives
D) SWIFT's actions endangered the flow of commerce by sparking public outrage at an important institution
E) SWIFT's actions were appropriate initially, yet should have been discontinued prior to June 2006
Correct Answer: B
4) According to the passage, each of the following describes SWIFT EXCEPT:
A) Had data stored in Virginia
B) Valued confidentiality and non-disclosure
C) Routes trillions of dollars a day
D) Composed of a consortium of banks
E) After over a month of deliberation, complied with the government's subpoena
A) Had data stored in Virginia
B) Valued confidentiality and non-disclosure
C) Routes trillions of dollars a day
D) Composed of a consortium of banks
E) After over a month of deliberation, complied with the government's subpoena
Correct Answer: E
5) The author implies that which of the following most likely occurred as a result of the news stories that ran in June 2006:
A) U.S. government officials decried the leaking of classified information
B) SWIFT executives conducted a thorough internal review to assess the legality of SWIFT's actions
C) Some foreign members of the SWIFT consortium demanded answers from SWIFT's executives
D) Many members of the public and financial community debated SWIFT's decision
E) Financial data and transactions slowed as a result of the publication of SWIFT's cooperation
A) U.S. government officials decried the leaking of classified information
B) SWIFT executives conducted a thorough internal review to assess the legality of SWIFT's actions
C) Some foreign members of the SWIFT consortium demanded answers from SWIFT's executives
D) Many members of the public and financial community debated SWIFT's decision
E) Financial data and transactions slowed as a result of the publication of SWIFT's cooperation
Correct Answer: D
26 Sep 2018, 10:48
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Bookmarks
Question 1
1) Which of the following can be inferred from the passage?
A) Correct No clear cut answer as to the legality of SWIFT's cooperation existed - Can be inferred from the text mentioned in Para 4: "While SWIFT had compelling arguments both for agreeing and refusing to cooperate with the U.S. government program, even in hindsight, it is impossible to judge with certitude the wisdom and ethics of SWIFT's decision to cooperate as we still lack answers to important questions........... "
B) SWIFT failed to adequately consult its legal staff before deciding to cooperate - Not mentioned in any of the passages.
C) The volume of money routed through SWIFT declined after its cooperation became public - Not mentioned in any of the passages.
D) U.S. authorities threatened criminal charges if SWIFT refused their subpoenas - Not mentioned in any of the passages.
E) Treasury Department officials objected to the publication of information about its classified program - Not mentioned in any of the passages.
Question 2
2) Inferring from the passage, which of the following constituted an ethical justification for SWIFT complying with the government?
A) The U.S. government can subpoena information that pertains to its citizens - Not mentioned in any of the passages. - US govt can S the info stored in its territory- people not mentioned.
B) SWIFT executives believed another catastrophic attack was imminent - Not mentioned in any of the passages. - it was mentioned as a ethical point that supports SWIFT's action. But what officials believed was never mentioned
C) Correct Providing data to the government based upon a valid subpoena did not explicitly violate SWIFT policy - Can be inferred from the text mentioned in Para 3. 3rd point : "Third, cooperating with the government did not explicitly violate any SWIFT policies due to the presence of a valid subpoena. "
D) Despite ostensibly poor oversight, senior Treasury Department officials assured SWIFT that data would be kept confidential - Not mentioned in any of the passages. . This Q, posed by the author, can be used to evaluate the situation presented.
E) U.S. officials told SWIFT officials exactly why Treasury needed the information - Not mentioned in any of the passages. Again, This Q, posed by the author, can be used to evaluate the situation presented.
Question 3
3) The author suggests which of the following is the most appropriate conclusion of an analysis of the ethics of SWIFT's decision?
A) SWIFT acted inappropriately as it compromised its long-standing values of integrity, privacy, and confidentiality - Never concluded if the act was inappropriate .(See Option B)
B) Correct SWIFT's actions cannot be judged with perspicuity as answers to important questions are still unknown - - The author mentioned that the action could be evaluated on the basis of some Qs in Para 4. :it is impossible to judge with certitude the wisdom and ethics of SWIFT's decision to cooperate as we still lack answers to important questions such as: what information did the government want? ............ "
C) SWIFT acted properly as it complied with the requests of a sovereign government in an attempt to save lives- Never concluded if the act was appropriate .(See Option B)
D) SWIFT's actions endangered the flow of commerce by sparking public outrage at an important institution - No mention of what SWIFT's action did to the flow of commerce.
E) SWIFT's actions were appropriate initially, yet should have been discontinued prior to June 2006 - Never concluded if the act was appropriate .(See Option B)
Question 4
4) According to the passage, each of the following describes SWIFT EXCEPT:
A) Had data stored in Virginia - Mentioned in Paragraph 3
B) Valued confidentiality and non-disclosure - Mentioned in Paragraph 2
C) Routes trillions of dollars a day - Mentioned in Paragraph 1
D) Composed of a consortium of banks - Mentioned in Paragraph 1
E) Correct After over a month of deliberation, complied with the government's subpoena - - Never mentioned in the passages "
Question 5
5) The author implies that which of the following most likely occurred as a result of the news stories that ran in June 2006:
A) U.S. government officials decried the leaking of classified information - Not mentioned anywhere in the provided piece
B) SWIFT executives conducted a thorough internal review to assess the legality of SWIFT's actions - Not mentioned anywhere in the provided piece
C) Some foreign members of the SWIFT consortium demanded answers from SWIFT's executives - Not mentioned anywhere in the provided piece
D) Correct Many members of the public and financial community debated SWIFT's decision
- Mentioned in Para 01: "This sparked a heated public debate over the ethics of SWIFT's decision to reveal ostensibly confidential financial communications."
Mentioned in Para 03: "However, the extent of cooperation certainly surprised many financial institutions and sparked some outrage and debate within the financial community."
E) Financial data and transactions slowed as a result of the publication of SWIFT's cooperation. - Not mentioned anywhere in the provided piece
1) Which of the following can be inferred from the passage?
A) Correct No clear cut answer as to the legality of SWIFT's cooperation existed - Can be inferred from the text mentioned in Para 4: "While SWIFT had compelling arguments both for agreeing and refusing to cooperate with the U.S. government program, even in hindsight, it is impossible to judge with certitude the wisdom and ethics of SWIFT's decision to cooperate as we still lack answers to important questions........... "
B) SWIFT failed to adequately consult its legal staff before deciding to cooperate - Not mentioned in any of the passages.
C) The volume of money routed through SWIFT declined after its cooperation became public - Not mentioned in any of the passages.
D) U.S. authorities threatened criminal charges if SWIFT refused their subpoenas - Not mentioned in any of the passages.
E) Treasury Department officials objected to the publication of information about its classified program - Not mentioned in any of the passages.
Question 2
2) Inferring from the passage, which of the following constituted an ethical justification for SWIFT complying with the government?
A) The U.S. government can subpoena information that pertains to its citizens - Not mentioned in any of the passages. - US govt can S the info stored in its territory- people not mentioned.
B) SWIFT executives believed another catastrophic attack was imminent - Not mentioned in any of the passages. - it was mentioned as a ethical point that supports SWIFT's action. But what officials believed was never mentioned
C) Correct Providing data to the government based upon a valid subpoena did not explicitly violate SWIFT policy - Can be inferred from the text mentioned in Para 3. 3rd point : "Third, cooperating with the government did not explicitly violate any SWIFT policies due to the presence of a valid subpoena. "
D) Despite ostensibly poor oversight, senior Treasury Department officials assured SWIFT that data would be kept confidential - Not mentioned in any of the passages. . This Q, posed by the author, can be used to evaluate the situation presented.
E) U.S. officials told SWIFT officials exactly why Treasury needed the information - Not mentioned in any of the passages. Again, This Q, posed by the author, can be used to evaluate the situation presented.
Question 3
3) The author suggests which of the following is the most appropriate conclusion of an analysis of the ethics of SWIFT's decision?
A) SWIFT acted inappropriately as it compromised its long-standing values of integrity, privacy, and confidentiality - Never concluded if the act was inappropriate .(See Option B)
B) Correct SWIFT's actions cannot be judged with perspicuity as answers to important questions are still unknown - - The author mentioned that the action could be evaluated on the basis of some Qs in Para 4. :it is impossible to judge with certitude the wisdom and ethics of SWIFT's decision to cooperate as we still lack answers to important questions such as: what information did the government want? ............ "
C) SWIFT acted properly as it complied with the requests of a sovereign government in an attempt to save lives- Never concluded if the act was appropriate .(See Option B)
D) SWIFT's actions endangered the flow of commerce by sparking public outrage at an important institution - No mention of what SWIFT's action did to the flow of commerce.
E) SWIFT's actions were appropriate initially, yet should have been discontinued prior to June 2006 - Never concluded if the act was appropriate .(See Option B)
Question 4
4) According to the passage, each of the following describes SWIFT EXCEPT:
A) Had data stored in Virginia - Mentioned in Paragraph 3
B) Valued confidentiality and non-disclosure - Mentioned in Paragraph 2
C) Routes trillions of dollars a day - Mentioned in Paragraph 1
D) Composed of a consortium of banks - Mentioned in Paragraph 1
E) Correct After over a month of deliberation, complied with the government's subpoena - - Never mentioned in the passages "
Question 5
5) The author implies that which of the following most likely occurred as a result of the news stories that ran in June 2006:
A) U.S. government officials decried the leaking of classified information - Not mentioned anywhere in the provided piece
B) SWIFT executives conducted a thorough internal review to assess the legality of SWIFT's actions - Not mentioned anywhere in the provided piece
C) Some foreign members of the SWIFT consortium demanded answers from SWIFT's executives - Not mentioned anywhere in the provided piece
D) Correct Many members of the public and financial community debated SWIFT's decision
- Mentioned in Para 01: "This sparked a heated public debate over the ethics of SWIFT's decision to reveal ostensibly confidential financial communications."
Mentioned in Para 03: "However, the extent of cooperation certainly surprised many financial institutions and sparked some outrage and debate within the financial community."
E) Financial data and transactions slowed as a result of the publication of SWIFT's cooperation. - Not mentioned anywhere in the provided piece
General Discussion
