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CIMA
CIMA Certificate
BA4
Fundamentals of Ethics, Corporate Governance and Business Law Questions and Answers

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Viewing page 5 out of 14 pages

Viewing questions 61-75 out of questions

Questions # 61:

Being able to be trusted by others to be dependable reflects the personal quality identified by the CIMA Code of Ethics as:

Options:

Traditionalism

Reliability

Respect

Transparency

Answer

Questions # 62:

Which ONE of the following might NOT be the consequence of unethical behavior by a professional body?

Options:

Loss of reputation

Loss of Chartered Institute status

Undermined credibility

Systematic widespread fraud

Answer

Questions # 63:

Which of the following is INCORRECT?

Options:

A company secretary may be dismissed by the board

A person may be appointed company secretary for life

A company secretary is an officer and not an employee of the company

A company secretary of a public company must be appropriately qualified

Answer

Questions # 64:

Tee Ltd has contracted to use Vee Ltd's "Grand Hotel" for a business conference. Which of the following would not be regarded as a valid excuse for Vee Ltd for the unavailability of the hotel on the agreed date?

(i) The hotel was closed due to flood damage.

(ii) The hotel was double booked.

(iii) The hotel manager had arranged to have the hotel redecorated; the decorators had failed to complete the work by the agreed date.

Options:

(i) only

(iii) only

(ii) and (iii) only

(i), (ii) and (iii)

Answer

Questions # 65:

C tends to be polite to colleagues when they are present, but very rude about them in their absence. She lacks the personal quality identified by CIMA as:

Options:

Respect

Responsibility

Reliability

Reserve

Answer

Questions # 66:

Which ONE of the following most accurately describes corporate governance?

Options:

It is a code of best practice which instructs directors of listed companies how to maximise profits for the benefit of shareholders

It is a body of law, morals and ethics designed to ensure that the shareholders of listed companies are treated fairly by the board

It is the body of rules and ethics primarily concerned with the effective control, business efficacy and accountability of the management of public-listed companies for the benefit of stakeholders

It is the set of rules contained in the constitution of listed companies which governs the relationship between the board and the shareholders

Answer

Questions # 67:

After the enactment of the Companies Act 2006, which of the following is incorrect in relation to a reduction of capital by a private company?

Options:

It is not necessary for the company's Articles of Association to authorize a reduction

The shareholders must pass a special resolution

The directors must make a statement as to the company's solvency

The reduction must be approved by the court

Answer

Questions # 68:

Which of the following is correct?

Options:

In England the government cannot make law without the authority of Parliament.

In England the government can pass a law overruling any Act of Parliament.

In England the government is not bound by the law.

In England the government may delegate authority to a local authority to make law.

Answer

Questions # 69:

The CIMA Code of Ethics relates to:

Options:

Professional accountants in public practice and business

Professional accountants in public practice only

Professional accountants in business only

Professional accountants in the third sector only

Answer

Questions # 70:

You work for an international mining company. Which of the following corporate issues is NOT related to ethics or social responsibility?

Options:

The impact of your operations on the environment

Your company's response to HIV/Aids among workers in sub-Saharan Africa

Deciding whether to approve a planned refurbishment of head office

Whether employees are paid a fair wage

Answer

Questions # 71:

Which of the following types of board committee are recommended by the UK Corporate Governance Code?

(i) Nomination Committee

(ii) Audit Committee

(iii) Quality Assurance Committee

Options:

(i) only

(ii) only

(i) and (ii) only

(ii) and (iii) only

Answer

Questions # 72:

Which of the following type of committee is NOT required by the UK Combined Code?

Options:

Investment committee

Audit committee

Remuneration committee

Nominations committee

Answer

Questions # 73:

Which of the following is incorrect?

Options:

A floating charge is a charge over a class of company assets which the company is unable to deal with freely in the ordinary course of business.

A floating charge must be registered at Companies House within 21 days of its creation, otherwise the charge is void against the other creditors.

A floating charge must be registered at the company's registered office, but a failure to do so does not affect the validity of the charge.

A floating charge is a charge over a class of assets which change from time to time.

Answer

Questions # 74:

V is an accountant for HIJ company. This large international jewelry manufacturer and retailer both mines, designs and sets and retails its gemstones It has significant mining operates in Country A and Country Z.

It has been a key player in the development of ethical employment mining practices especially in advanced safety policies and it received a United Nations award for action against Blood Diamonds It publishes a detailed CSR report which highlights how its approach to safety is a core business value and how its KPIs around employee turnover and accident have improved annually.

Vs company has recently appointed a new CEO who is taking an aggressive stance to improving profit margins and wants to reduce the expenditure on safety, a key aspect of the approach to ethical mining practices in HIJ company

Which THREE of the following statements would V use to support the continuation of the ethical policy in this new culture? The ethical treatment of the mining workforce