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BLAW EXAM #4 QUESTIONS AND ACCURATE ANSWERS LATEST UPDATE 100% PASS GUARANTEED
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BLAW EXAM #4 QUESTIONS AND ACCURATE ANSWERS LATESTUPDATE 100% PASS GUARANTEED
Which one of the following tests ascertains an agent's status based on: (1) the
behavioral aspects of the agency; (2) the financial arrangements between the principal
and the agent; and (3) the type of working relationship the parties have in terms of
benefits and promises and continuing employment? - Answer The IRS Test
What occurs when an agent agrees to act for the principal? - Answer Consent
T/F: The underlying basis of the federal securities laws is found within the "Great
Recession" of the late 2000s and was to focus on the sharpest decline in economic
activity since the Great Depression. -Answer False.
As a result of the scandals concerning different corporate and fraud malfeasance,
which began to come to light starting in the year 2000, a resultant public outcry and an
increasing loss of investor confidence in corporate financial disclosures led the United
States Congress to reform the entire corporate governance regulatory structure by
passing the - Answer Sarbanes-Oacley Act of 2002
T/F: Agents fall into one of three broad categories including: 1) employee agents; 2)
independent contractors; or 3) gratuitous agents. -True.
Which of the following is true with respect to termination of an agency relationship? -
The principal and agent can mutually consent to terminate the agency when the purpose
of the agency has been fulfilled.
T/F: The SOX Act does not require any for an allegation of wrongdoing as a precondition
to intervene in an extraordinary payment. - Answer True.
The audit committees have major regulatory roles to perform under the SOX Act. Which
of the following are included? -Answer Having the authority to appoint, supervise and
, dismiss the independent auditing firm of the corporation; to implement an accountability
structure that would include in-depth analysis and reviewing of the audit reports, as well
as methodologies adopted by the company and independent auditors to correctly report
on information that best represents the correct financial position; and creating a format
where there is direct interaction between the audit committee and the auditors.
Basically, the Dodd-Frank whistleblower provisions are based on - Answer A bounty
plan.
What two common types of equity instruments do corporations issue? - Answer
Common stock and preferred stock.
T/F: The Sarbanes-Oxley Act of 2002 was designed to place additional regulation and
controls on the way in which corporations conduct business through regulation of three
(3) general ares: (1) marketing; (2) human resources; and (3) social responsibility. -
Answer False.
Of the high-profile corporate scandals that erupted at major public companies in 200
and 2001, which of the following is arguably the most notorious? - Answer Enron
T/F: Securities transactions occur in two settings: (1) the endorsement market, and (2)
the non-indorsement market. - Answer False.
Which of the following is true regarding professional licensing in the American
workplace? - Answer Licensing requirements for professions vary form state to state.
T/F: The courts look to state common law and statutes for guidance when attempting to
determine independent contractor status. - True.
T/F: Public companies have been required to provide regulatory safeguards since the
New York Stock Exchange was founded on March 8, 1817. - False.
Individual employees who are authorized to transact business on behalf of the
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