1. An effective and well thought-out CEO performance process includes all of the items below, except:

a. Analyzes pas performance

b. Focuses on whether the CEO has the vision and personal capabilities to achieve the company's strategic objectives

c. A well thought-out CEO performance process includes all of the items stated here

d. Sets goals for the future

e. Metrics to monitor and assess an organization's performance and health, including indicators that cover operations and organizational issues

f. Assists the compensation committee in making decisions about the CEO's future compensation

2. Which statement is False?

a. ACPA should not subordinate their judgment to others.

b. Even if the threat is at an acceptable level, the accountant is required to disclose the nature of a conflict of interest to the client and others affected.

c. The consequences of violating the AICPA Code of Conduct could result in suspension or loss of the CPA certificate.

d. A conflict of interest arises when a CPA performs services for two clients with conflicting interests.

e. Threats to independence can include situations where the member has direct financial interest in a client.

f. All of the statements above are True

3. Determining the appropriate capital structure and dealing with a takeover, merger, or acquisition proposal, are strategies that require substantial board involvement.

True or False

4. The principles embedded in the AICPA Code are: Responsibilities, The public interest, Integrity, transparency, Objectivity and Independence, Due Care, Scope and Nature of services.

True or False

5. The auditor must be independent when performing taxes, reviews, audits, financial statement preparation engagements, and compilations.

True or False

6. Which statement is False?

a. Rules and guidelines of various regulators and organizations affect the behavior of CPAs.

b. CPAs must be a member of the AICPA.

c. CPAs are required to obtain a CPA certificate

d. In addition to being a member of the AICPA, CPAs may be a member of a professional organization that is based on ethnicity.

e. All the statements above are True.

7. Which statement is False, regarding the Board's role in a crisis?

a. Boards need information and a credible communications policy that keeps everyone abreast of what is happening when a crisis occurs.

b. The CEO must have constant communication with the Board during a crisis.

c. Emergency succession plans for the CEO should be agreed upon by the entity's Human Resource office and updated at least annually.

d. When it is needed, the board may have an independent investigation of the activities the occurred during a crisis.

e. All of the statements above are true.