LAW 531 Week 5 Quiz 1

1. Under what system of corporate voting by shareholders can a minority shareholder achieve success in

electing someone to the board of directors?

2. 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?

3. The Sarbanes-Oxley Act is intended to increase the confidence of the public and investors through increasing which of the following?

4. Which of the following is true of the Federal Trade Commission?

5. In 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?

6. Officers of a corporation typically can have which types of agency authority to bind the corporation?

7. If 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?

8. The Sarbanes-Oxley Act prohibits publicly traded companies from making personal loans to whom?

9. Unless otherwise stated in the articles of incorporation, a quorum to hold a meeting of the shareholders is generally defined as which of the following?

10. Tuff-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?

11. In order to prevent and clear hazardous wastes that increase mortality or serious illness, the federal government established a specific method to finance the cleaning of polluted areas by enacting what statute?

12. If 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?

13. Which of the following is likely to be a breach of a corporate officer’s or director’s duty of care?

14 .According 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?

15. Which of the following powers do administrative agencies typically have?