Business Ethics Final PASSED Actual Exam Questions and CORRECT Answers
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Business Ethics
Business Ethics Final PASSED Actual
Exam Questions and CORRECT Answers
In September and October 2008, financial markets around the world suffered a severe crash
as: - CORRECT ANSWER- there was aggressive lending to subprime borrowers in a
deregulated environment.
Sebastian and Amy are argui...
Business Ethics Final PASSED Actual
Exam Questions and CORRECT Answers
In September and October 2008, financial markets around the world suffered a severe crash
as: - CORRECT ANSWER- ✔✔there was aggressive lending to subprime borrowers in a
deregulated environment.
Sebastian and Amy are arguing over secondary legislations that were in place prior to the
passing of the Foreign Corrupt Practices Act (FCPA). Amy is of the opinion that the FCPA
encompasses all secondary measures that were in use to prohibit corrupt practices. Sebastian
disagrees with Amy on this point. Which of the following, if true, would strengthen Amy's
argument? - CORRECT ANSWER- ✔✔The FCPA requires corporations to fully disclose all
transactions conducted with foreign officials in line with the SEC provisions.
Which of the following did the government formulate to penalize corporate wrongdoing? -
CORRECT ANSWER- ✔✔The Sarbanes-Oxley Act
The _____ is a legislative response to the corporate accounting scandals of the early 2000s
that cover the financial management of businesses. - CORRECT ANSWER- ✔✔Sarbanes-
Oxley Act
Which of the following is true of the Sarbanes-Oxley Act (SOX)? - CORRECT ANSWER-
✔✔It protects employees of companies who provide evidence of fraud.
Which of the following is true of the penalties under the Foreign Corrupt Practices Act? -
CORRECT ANSWER- ✔✔Officers, directors, stockholders, employees, and agents are
subject to a fine of up to $250,000 per violation and imprisonment for up to five years.
The creation of the _____ was an attempt to reestablish the perceived independence of
auditing companies after the corporate accounting scandals of the early 2000s. - CORRECT
ANSWER- ✔✔Public Company Accounting Oversight Board
Which of the following legislations could fine companies for failing to disclose bribes and
other forms of payments to foreign officials before the Foreign Corrupt Practices Act was
introduced? - CORRECT ANSWER- ✔✔The Securities and Exchange Commission.
, The formula used to calculate the total fine sentenced by the Federal Sentencing Guidelines
for Organizations (FSGO) is: - CORRECT ANSWER- ✔✔the base fine multiplied by the
culpability score.
The maximum penalty that a judge can impose upon an organization for violating the Federal
Sentencing Guidelines for Organizations is a penalty worth: - CORRECT ANSWER- ✔✔the
full amount of the organization's assets.
Under the Federal Sentencing Guidelines for Organizations, the death penalty: - CORRECT
ANSWER- ✔✔is warranted where the organization was operating primarily for a criminal
purpose.
The _____ is a fine that is set high enough by the Federal Sentencing Guidelines for
Organizations to match all the assets of an organization and effectively puts the organization
out of business. - CORRECT ANSWER- ✔✔death penalty
Which of the following is a difference between grease payments and bribes under the Foreign
Corrupt Practices Act? - CORRECT ANSWER- ✔✔Unlike grease payments, bribes induce
foreign officials to act in violation of their lawful duty.
Which of the following statements is true of the Foreign Corrupt Practices Act? - CORRECT
ANSWER- ✔✔It encompasses all the measures that were previously used to control
unethical overseas transactions by U.S. corporations.
Under the Foreign Corrupt Practices Act, payments that are acceptable (legal) provided they
expedite or secure the performance of a routine governmental action are called _____. -
CORRECT ANSWER- ✔✔facilitation payments
Which of the following is true of facilitation payments under the Foreign Corrupt Practices
Act (FCPA)? - CORRECT ANSWER- ✔✔The FCPA finds them acceptable if they expedite a
routine governmental action.
The _____ is a government agency within the Federal Reserve that oversees financial
products and services. - CORRECT ANSWER- ✔✔Consumer Financial Protection Bureau
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