CPCU 552 |130 Study Questions With Answers|100% Correct

Which one of the following is a major responsibility of corporate directors? a) to perpetuate a competent board through regular elections b) to manage investments and disbursements of the corporation's assets c) to create the proper annual & interim reports for shareholders d) to establish the procedures & operational goals for each department - ️️a Corporate directors are considered to have met their duty of care if they: a) Discharge their responsibilities according to the same standards that an employee of the organization would use b) Act in good faith and in a manner they reasonably believe to be in the best interests of the corporation c) Conduct themselves in a manner that guarantee's the enterprise's profitability d) Make informed decisions based upon their special business skills - ️️b Directors' and Officers' fiduciary duties include the duty of: a) Trustworthiness b) Reliability c) Obedience d) Credibility - ️️c