AGRC International Certified Corporate Governance Officer

QUESTION NO: 1
The specializations and responsibilities of the audit committee can be summarized in:

A. Internal audit and external audit. B. Financial reports, internal audit, external audit, and compliance. C. Submitting to the board issues that the committee deems necessary to take action on, supported by its recommendations and the procedures that the board must take.

Correct Answer: B

QUESTION NO: 2
The final internal audit report is submitted to:

A. The CEO and then to the audit committee. B. The risk committee and then to the audit committee. C. The audit committee and then to the CEO.

Correct Answer: C

QUESTION NO: 3
The commitment to disclose "material developments" to the Capital Market Authority, relevant parties, and the public without any delay includes, for example:

A. Any losses less than 10% of the company's net assets. B. Any losses equal to or exceeding 5% of the company's net assets. C. Any losses equal to or exceeding 10% of the company's net assets.

Correct Answer: C

QUESTION NO: 4
Best practices generally indicate that the optimal number for forming the board of directors in family companies is:

A. ranging from 5 to 9 members B. ranging from 3 to 7 members C. ranging from 7 to 9 members

Correct Answer: C

QUESTION NO: 5
There are some obstacles to the independence of board members, such as:

A. The member owning 10% or more of the company's shares. B. The member owning 5% or more of the company's shares. C. The member owning 3% or more of the company's shares.

Correct Answer: A

QUESTION NO: 6
The Sarbanes-Oxley Act was issued by the U.S. government, and one of its positive effects is:

A. Reducing risks when detecting violations at the appropriate time. B. Protecting shareholders from the transgressions of the board of directors. C. Enhancing the role of management and external auditors in the process of preparing financial statements.

Correct Answer: C

AGRC International Certified Corporate Governance Officer - ICCGO Exam Questions