Final Assessment

Select the correct words to complete the  Business Judgment Rule: Directors acting in ___________ with  the care of an ordinarily ______________ in the _________________ of the company can avoid______________.

What does D&O stand for?

Who implements strategy for a private company? (Select two–you will get a point for every correct answer)

When should the board prepare a list of suitable CEOs? (Select two–you will get a point for every correct answer)

What are the board’s responsibilities concerning the CEO?

You are on a private company  board in the U.S. The date of the  meeting does not suit you but  you have strong views on an agenda matter. You can send a  proxy to vote for you.

In which of the following board structures would the quality of decision making likely be best? (select two)

Board candidates should be wary of accepting a seat on a private company board that does not have (select one)

Consider the duty of loyalty. In  whose interest must you act?

Which director duty requires good board process and record keeping?

Which of the phrases below is a good colloquial description of Duty of Care?

Which of the following might alter the time commitment of a director? (check all that apply) You will receive a point for every correct answer

From the following list, pick up to five attributes you think are essential for ALL members of any board (Select all that apply. You will receive a point for every correct answer)

You are offered a board seat and ask to see the code of ethics. You receive many attachments, but not this code. What should you do? (Select all that apply. You will receive a point for every correct answer)

Who do directors serve?