8/7/22, 10:03 PM Quiz: UNIT ACTIVITY 7: BOARD OF DIRECTORS/TRUSTEES AND OFFICERS

UNIT ACTIVITY 7: BOARD OF DIRECTORS/TRUSTEES

AND OFFICERS
Started:
Aug 7 at 3:53pm

Quiz Instructions
INSTRUCTION: To test your knowledge of the lesson discussed regarding the functions of the Board of
Directors, Trustees, and Corporate Officers and their prohibited acts, answer the given statements by
identifying which function or prohibited practice is being referred to.  Each correct answer will earn two
(2) points.

Question 1 2 pts

A contract of the corporation with one or more of its directors or trustees or officers.

DEALINGS OF DIRECTORS, TR

Question 2 2 pts

If provided in the by-laws, in no case should it exceed 10% of the net income after
income tax of the corporation during the preceding year.

COMPENSATION OF DIRECTOR

Question 3 2 pts

A director, by virtue of his office, acquires for himself a business opportunity which
should belong to the corporation, thus obtaining profits to the prejudice of such
corporation, he must account to latter for all such profits by refunding them.

DISLOYALTY OF A DIRECTOR

Question 4 2 pts

A body created by the by-laws, composed of not less than three members of the
board which, subject to statutory limitations, has all the authority of the board of
directors to the extent provided in the by-laws.

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8/7/22, 10:03 PM Quiz: UNIT ACTIVITY 7: BOARD OF DIRECTORS/TRUSTEES AND OFFICERS

EXECUTIVE COMMITTEE

Question 5 2 pts

If, within 5 years prior to the election or appointment as such, the person was
convicted by final judgment of an offense punishable by imprisonment for a period
exceeding 6 years.

DISQUALIFICATION OF DIRECT

Question 6 2 pts

Required upon the directors or trustees to elect immediately after their own election.

CORPORATE OFFICERS

Question 7 2 pts

Elected by the stockholders or members periodically, who are charged with the
management of the corporation.

BOARD OF DIRECTORS OR TR

Question 8 2 pts

Ownership of at least one (1) share of the capital stock of the corporation in his own
name.

QUALIFICATIONS OF A BOARD

Question 9 2 pts

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8/7/22, 10:03 PM Quiz: UNIT ACTIVITY 7: BOARD OF DIRECTORS/TRUSTEES AND OFFICERS

Such power lodged with the stockholders or members which can exercised with or
without cause.

ACTS OF MANAGEMENT

Question 10 2 pts

Such number to be met for the transaction of corporate business and every decision
of at least a majority of the directors or trustees present at the meeting.

QUORUM

Question 11 2 pts

Methods which may be adopted by the stockholders in electing their board of

directors.

STRAIGHT VOTING, CUMULATI

Question 12 2 pts

Members of the board of directors in a certain corporation who are also directors in
another corporation.

INTERLOCKING DIRECTORS

Question 13 2 pts

Act of stockholders in approving a director’s violation of the doctrine of corporate

opportunity by Vote of at least two-thirds (2/3) of the outstanding capital stock.

RATIFICATION BY THE STOCKH

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8/7/22, 10:03 PM Quiz: UNIT ACTIVITY 7: BOARD OF DIRECTORS/TRUSTEES AND OFFICERS

Question 14 2 pts

Contract entered into by the board of directors or trustees, or corporate officers that
are within The scope of the powers of the corporation as provided in its charter.

SELF-DEALING

Question 15 2 pts

Act which the executive committee cannot undertake since it requires the approval of
the stockholders.

ACTS OF OWNERSHIP

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