Directors and officers liability provides coverage for: OA construction of a new facility employees injured while in the employ of the company damage to office vehicles improperly operating the company on behalf of the stockholders
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- Subject: Business Law and Regulations Topic: Nonstock corporation ABC Foundation engaged in providing feeding programs to homeless children and giving of food packages to victims of calamities using the funds of the foundation for this purpose. Mr. X, who is a member of the foundation is in a quandary as to whether or not the practice of the foundation in using its funds for the mentioned purposes is valid. He is quite fearful that with recent surge in calamities, it might deplete the resources of the foundation, and therefore, affect his own interest having made a contribution therein. He intends to question this practice of the foundation. Is his intention meritorious?Define limited liability.1.Subject to the terms of the Deed of Trust, the Appointor of a trust can ordinarily nominate a replacement "Appointor " in their Will? True False 2.Which of the following structures would you recommend as a tool by which an individual after their death can ensure the continued care of a disabled family member, whilst ensuring it does not consequentially risk the continued entitled to pensions or other government entitlements? Testamentary trust Life interest Deed of Family Arrangement Family trust Superannuation fund 3. Subject to the terms of the Deed of Trust, an individual Trustee of a trust can ordinarily nominate a replacement "Trustee" in their Will? True or False?
- Skip and Jack are the shareholders of the Blue Fish Event Corporation. Skip and Jack regularly put on classy events on or near the beach, so they have a special insurance policy to protect their assets. Business has been slow as fewer large beach weddings are taking place, so Skip and Jack use a large fan to blow down and damage most of their décor assets, some of which were personal assets of Skip and Jack, to collect the insurance benefits. (a) Assuming their acts are proven, will a court allow Skip and Jack to recover the insurance money? (b) Is this a situation where the corporate veil may be pierced? Why or why not? (c) What would it mean for Skip and Jack if the corporate veil is pierced in this situation?Non-forfeiture provisions are included in whole life and endowment policies to assure the policyowner that certain minimum policy benefits shall remain with him even under certain changed conditions. Non-forfeiture values guarantee to the policyowner that A) No death claim will be denied for any misstatement on the application B) Any guaranteed policy values will belong to the policy owner even if premium payments are discounted The face amount of the policy will remain the same even if the insured's health becomes impaired The premium on the policy will remain the same even when another beneficiary D) is added to the policyQUESTION 1 Which of the following is a FALSE statement? A. The E-Sign Act completely prevents the use of electronic signatures for contracting on the Internet. B. If an employer wants to preserve the at-will employment status of his or her employees, the employer should insert disclaimers in its codes and handbooks that nothing therein can be construed to create an express or implied employment contract. C. A basic principle of the National Labor Relations Act is that employers cannot terminate employees in order to discourage or encourage union membership. D. “Going public” by a company offering to sell shares of stock to the public typically results in access to broader financial markets from which to obtain capital. QUESTION 2 1. The tort of assault and the tort of battery are: A. Two names for the exact same tort. B. Strict liability torts. C. Independent torts which can occur separately from one another. D. Require proof of each of the separate elements of negligence.…
- 87. who is deemed to be appointed to accept service of process for an insurer in Florida? Governor Insurance commissioner Chief commissioner Attorney GeneralThe purpose of the insuring clause in on accident and Health policy is to A) specify the schedule and method of premium payments B) specify the conditions under which benefits are payable C) indicate the responsibility of the insured alter a covered loss D) satisfy the requirements of te undorm policy provision code3. Regulation of private pension plans Which of the following are provided by federal regulations of private pension plans? Check all that apply. Insurance of all participants in private defined-benefit plans to receive their benefits upon retirement Transferability of vested pension funds upon a change of employment Insurance of only executive employees participating in private defined-benefit plans to receive their benefits upon retirement Insurance of all participants in private defined-contribution plans to receive their benefits upon retirement Tax benefits only for executive employees Which of the following are the characteristics of the Pension Benefit Guaranty Corporation (PBGC)? Check all that apply. Has no regulatory powers May act as the pension fund manager Affected by economic conditions Has vast regulatory powers
- Subject: Law on Partnership and Corporations 1. Discuss briefly the kinds of powers that a corporation can exercise.coinsurance provision may be included in which of the following types of poses Accidental Death and Dismemberment Major Medical Hospital Indemnity Disability Incomo ●B OD41. In relation to the ICAEW code of Ethics, a consultant has made the following statements: (1) ICAEW requires a member employed in a business lo implement the Code of Ethics for the business itself (2) The principles in the Code of Ethics underle each professional accountant's professional judgements, decisions, reasoning and practice Identify whether these statements are accurale or inaccurate. Statement (1) accurate, Statement (2) inaccurate Satement (1) inaccurate, Statement (2) inaccurate Statement (1) accurate, Stalement (2) accurate Statement (1) inaccurate, Statement (2) accurate 42. An external consltant has two statements about the organisational iceberg model of organisational behaviour put forward by Heliriegel, Slocum and Woodman. (1) Organisation design is an overt aspect of the organisation (2) The formal aspects of the organization are correct Are these statements accurate or inacurrate ? Statement (1) inaccurate; Statement (2) accurate Satement (1)…