Nora and Karen found a body washed up on a beach in the Orobas Fjords. She wants to find the family of the man who died so they could return the ring, but Karen wants to keep it on her finger.
You can choose to force them to give you the ring, which will cause them to flee and you will be awarded the Dead Man's Ring.
You can side with Karen and say she should keep the ring. This will upset Nora, then they will both walk away. This option provides the same reward as below.
You can side with Nora and say they should find the family, give back the ring, and tell them what happened. Karen gets disappointed by this, but agrees it's the right thing to do, then they both walk away. This option will reward you with 3000 exp. With a 10/10 rank in Wisdom, an additional 600 XP is also given.