1.In 1970, Congress established an administrative agency to enforce statutes enacted to protect the air and water of this country. What is the name of this agency?
- National Ambient Air Quality Standards Agency
- Air Quality Control Agency
- Environmental Protection Agency
- Army Corps of Engineers Agency
2If a corporate officer in the position of secretary intentionally takes over the powers provided to the treasurer in the corporate documents, what fiduciary duty does that corporate secretary breach?
- Duty of loyalty
- Duty of obedience
- Duty of care
- Duty of good faith and fair dealing
3If a corporate officer or director acts in a manner to make use of an advantage that he or she knows will only benefit himself or herself and deprives the corporation of that advantage, what breach of fiduciary duty has been committed?
- Duty of loyalty by self-dealing
- Duty of loyalty by usurping a corporate opportunity
- Duty of care by violation of the business judgment rule
- Duty of obedience by competing with the corporation
4Tuff-Steele Constructions, Inc. has not been adhering to appropriate worker safety rules. As a result, there have been an increased number of on-site accidents and several construction workers have sustained serious injuries. Which of the following powers will allow an administrative agency to bring agency proceedings against Tuff-Steele Constructions?
- Rulemaking
- Executive power
- Judicial authority
- Licensing
5Which of the following is likely to be a breach of a corporate officer's or director's duty of care?
- Failing to predict the startup of a new competitor
- Failing to react appropriately to a severe rise in the prime interest rate
- Failing to anticipate a drop in the consumer demand of the company's product
- Failing to predict a raw materials shortage resulting from a natural disaster
6Officers of a corporation typically can have which types of agency authority to bind the corporation?
- Express, applied, and apparent
- Express, transparent, and applied
- Express, transparent, and implied
- Express, implied, and apparent
7Which of the following powers do administrative agencies typically have?
- Rulemaking, statute interpretation, and dispute adjudication
- Statute interpretation, law enforcement, and mediation
- Law enforcement, statute interpretation, and dispute resolution
- Dispute adjudication, mediation, and rulemaking
8Unless otherwise stated in the articles of incorporation, a quorum to hold a meeting of the shareholders is generally defined as which of the following?
- A committee of directors selected to vote on a corporation action
- The number of shareholder votes necessary to pass an action
- A majority of shareholders required to be present to vote on a corporate action
- The number of registered shareholders eligible to vote at a given time
9According to the provisions set forth by the Sarbanes-Oxley Act, which federal government agency may issue an order prohibiting any person who has committed securities fraud from acting as an officer or a director of a public company?
- United States International Trade Commission
- Securities and Exchange Commission
- Federal Communications Commission
- Federal Reserve System
10In order to protect wildlife that may be subject to scarcity, which Executive Branch cabinet member designates which species of wildlife may be endangered or threatened?
- Secretary of Homeland Security
- Secretary of Health and Human Services
- Secretary of the Interior
- Secretary of Commerce