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Exam 6: The Role of Government

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Question 31

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The Federal Sentencing Guidelines for Organizations (FSGO)establishes a definition of an organization that is so narrow as to prompt the assessment that "many business enterprises are exempt."

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Question 32

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Which of the following is NOT a key attempt at behavior modification to discourage illegal conduct with organizations since the 1970s?

A) The U.S.Federal Sentencing Guidelines for Organizations
B) The Ethics Resource Center
C) The Sarbanes-Oxley Act
D) The Foreign Corrupt Practices Act

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Question 33

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Title VIII imposes fines on employees for lying to other employees regarding company benefits and pay.

In 2008,financial markets around the world suffered a severe crash as the consequence of aggressive lending,even though as recently as a few months earlier,lenders reported record earnings based on questionable lending practices.

Title III of the Sarbanes-Oxley Act (SOX)requires senior auditors to rotate off an account every five years.

The sentence of an organization punished under the FSGO is determined through a three step process: determination of base fine,culpability score,and determination of the total fine amount.

The ______________________________ is a legislative response to the corporate accounting scandals and contains almost 70 subsections covering every aspect of the financial management of businesses.

By passing the FCPA,Congress sent a message that U.S.companies should compete solely on the basis on ______________________ and __________________________ in overseas markets.

The Federal Sentencing Guidelines for Organizations does not require organizations to police themselves to prevent and detect the criminal activity of their employees and agents.

Title ______ of the Sarbanes-Oxley Act addresses issues related to commission resources and authority.

The SEC can enforce criminal penalties of up to $2 million per violation of the FCPA against corporate and business entities.

Which of the following is NOT a routine government action?

Title _____ of SOX requires CEOs and CFOs to certify quarterly and annual reports to the SEC,including making representations about the effectiveness of their control systems.

The _________________________________ is a government agency within the Federal Reserve that oversees financial products and services.

Which of the following is NOT a step in calculating a fine sentenced by the FSGO?

One of the factors that can increase a culpability score is an organization's effective program to prevent and detect violations of law.

Discuss the Foreign Corrupt Practices Act.

Title II of the Sarbanes-Oxley Act requires senior auditors to remain with an account for at least five years and junior auditors for seven years.

The base fine will normally be the greatest of: the monetary gain to the organization from the offense,the monetary loss from the offense caused by the organization to the extent the loss was caused knowingly,intentionally,or recklessly,or the amount determined by a judge based upon an FSGO table.

The ______ is a fine that is set high enough to match all the organization's assets and basically put the organization out of business.