CGA CGA Business Law & Governance 3

Question 1

Which type of intellectual property protection is most appropriate for a company's brand name and logo?

Accepted Answer

Trademark

Answer

Patent

Answer

Copyright

Answer

Trade secret

Question 2

What is the primary purpose of corporate governance frameworks such as those recommended by the COSO?

Accepted Answer

To provide guidance on internal controls, risk management, and ethical governance

Answer

To maximize executive compensation packages

Answer

To reduce the number of board members required

Answer

To eliminate the need for external audits

Question 3

In agency law, when is a principal liable for the torts committed by an independent contractor?

Accepted Answer

Only when the work is inherently dangerous or the principal was negligent in selection

Answer

Never — principals are always shielded from independent contractor actions

Answer

Whenever the independent contractor causes any harm

Answer

Only when the contractor has no insurance

Question 4

Which of the following best describes a 'derivative lawsuit' brought by shareholders?

Accepted Answer

Shareholders suing on behalf of the corporation for harm done to the corporation

Answer

A shareholder suing to recover their own direct losses from misrepresentation

Answer

A class action for securities fraud against a public company

Answer

A lawsuit to dissolve the corporation

Question 5

Which international framework provides principles for corporate governance adopted by many countries?

Accepted Answer

OECD Principles of Corporate Governance

Answer

IFRS Corporate Governance Standards

Answer

UN Global Compact Governance Rules

Answer

ISO 9001 Corporate Standards

Question 6

Which doctrine allows courts to refuse enforcement of a contract that is extremely unfair to one party at the time of formation?

Accepted Answer

Unconscionability

Answer

Frustration of purpose

Answer

Mutual mistake

Answer

Impossibility of performance