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According to the CIMA Code of Ethics:

A.

Good legal behavior may be above that required by ethics

B.

Good ethical behavior may be above that required by the law

C.

Good professional behavior may be above that required by ethics

D.

Good ethical behavior may be above that required by professional bodies

Which of the following is correct? 

(i) A decision of the Supreme Court is binding on all lower courts which are called upon to decide a case based on similar material facts.

(ii) If there is a conflict between European Law and English law, European Law prevails.

(iii) Parliament may delegate authority to the government to make law.

A.

(i) only

B.

(i) and (ii) only

C.

(ii) and (iii) only

D.

(i), (ii) and (iii).

Which of the following is INCORRECT in relation to the UK Corporate Governance Code?

A.

The board should be made up of a majority of non-executive directors.  

B.

All UK companies quoted on the London Stock Exchange have to include a statement of how the company has complied with the main principles set out in the Code.

C.

There should be a clear division of responsibilities between the Chairman and the Chief Executive.

D.

No director should be involved in deciding his or her own remuneration.  

Which of the following would comply with best practice in accordance with the UK Corporate Governance Code in relation to Board conduct?

A.

The Board of SSS a public company limited by shares, consists of four executive directors and five non-executive directors. The Board is headed by Mr I who is both CEO and Chairman The non-executive directors do challenge the strategic direction of the company and their opinions are considered and acted upon

B.

The Board of TSD, a public company limited by shares, consists of four executive directors and three non-executive directors. The Chairman, Mr C is the brother of the CEO Miss K The board meets ten times a year The board meetings are dominated by the siblings but the final decision is generally taken by the CEO

C.

The Board of END, a public company limited by shares, consists of four executive and five non-executive directors. The Board is headed by its Chairman, Miss A and the CEO is Miss B. The board has developed clear divisions of responsibility and consequently only meets in full once a year to approve the financial statements

D.

The Board of DDE, a public company limited by shares, consists of four executive and five non-executive directors The Board is headed by its Chairman Mr A and the CEO is Mr H. The board meets ten times a year. The non-executive directors do challenge the strategic direction of the company and their opinions are considered and acted upon

Which of the following statements is correct?

(i) A wrongful dismissal cannot also be an unfair dismissal.

(ii) An unfair dismissal can also be a wrongful dismissal.

(iii) An unfair dismissal must also be a wrongful dismissal.

A.

(i)

B.

(ii) and (iii)

C.

(iii)

D.

(ii)

Who is involved in the third party relationship?

A.

Auditor, shareholders, directors

B.

Auditor, stakeholders, directors

C.

Auditor, shareholders, employees

D.

Auditor, stakeholders, government

Which of the following are examples of an invitation to treat? Select ALL that apply.

A.

Goods on display in a shop window.

B.

A billboard advertisement

C.

Goods on display on a supermarket shelf.

D.

A street vendor who offers a passerby a bunch of bananas for £1.

E.

A man who offers to sell his car for £1500 to a potential buyer.

Shiny Steel is a steel manufacturer keen on increasing short-term shareholder interest. It has a number of factories in the country, which all have to abide by the new legislation that states carbon emissions shouldn't

exceed a particular limit.

Baring this in mind, which of the following might give Shiny Steel the best chance of increasing short-term shareholder interest?

A.

Ensure that its carbon emission fall just below the legal limit.

B.

Invest in new machinery that reduces emissions close to zero.

C.

Sign up to a campaign dedicated to protecting the rainforests.

D.

Increase production, even if carbon emissions exceed the legal limit.

Which of the following is correct in relation to a company's ability to contract where the company was registered after the Companies Act 2006 was fully implemented?

A.

The company's ability to contract is specified in its objects clause in its memorandum of association.

B.

The company's ability to contract is specified in its objects clause in its articles of association.

C.

The company cannot restrict its ability to contract in either its memorandum or articles of association.

D.

The company has unrestricted objects

Which parties of a company form the agent/principal relationship?

A.

Directors and shareholders

B.

Directors and the business

C.

Directors and the board

D.

Shareholders and the board

E.

Shareholders and the business

F.

The board and the business

Complying with relevant laws and legislations demonstrates part of which CIMA Code of Ethics fundamental principle?

A.

Integrity

B.

Objectivity

C.

Responsibility

D.

Professional behavior

The UK Corporate Governance Code is primarily concerned with the effective control, business efficacy and accountability of the management of public listed companies for the benefit of which of the following?

A.

Shareholders

B.

Stakeholders

C.

Investors

D.

Employees

Which of the following has overall responsibility for enforcing the Health and Safety at Work Act 1974 and its related legislation?

i. The Health and Safety Commission

ii. The Health and Safety Executive

iii. The Health and Safety Inspectorate

A.

(i) only

B.

(ii) only

C.

(iii) only

D.

(i) and (ii) only

Which of the following is one of the fundamental principles identified in the CIMA Code of Ethics?

A.

Professional conscience and due care

B.

Professional consideration and due care

C.

Professional cooperation and due care

D.

Professional competence and due care

Which of the following is NOT one of the main requirements of the UK Corporate Governance Code?

A.

The separation of the roles of Director and Company Secretary

B.

The appointment of independent non-executive directors to the Board

C.

The establishment of an audit committee

D.

The identification of an independent director as primary shareholder contact