Republic of the Philippines

DON HONORIO VENTURA STATE UNIVERSITY

Bacolor, Pampanga

COLLEGE OF BUSINES STUDIES

GOVBUSMAN MIDTERM EXAM
CORPORATE GOVERNANCE, BUSINESS ETHICS,
RISK MANAGEMENT AND INTERNAL CONTROL

Name: _______________________________ Date: ________________

Program: ____________ Score: ______________

Write your answers on a separate sheet.

Test I. Identification / Define / Enumeration (2 pts each)

1. What is Governance?
2. What is Corporate Governance?
3. What is Ethics?
4. What is Business Ethics?
5. What is the essence of any system of corporate governance?
6. What is the objective of the company in having a strong and effective internal control?
7. What is the purpose of having an independent internal audit function in a publicly-listed
corporation?
8. What is corruption?
9. What is an ethical dilemma?
10. What is interlocking directorship?
11-14. Give 4 responsibilities of the Chief Audit Executive
15-17. What are the 3 basic principles of an effective corporate governance?
18-25. What are the 8 characteristics of Good Governance?

Test II. Discuss briefly the following:(10 pts each)

1. Why is there a need for a corporation to maintain comprehensive and cost-efficient

communication channels to shareholders and other investors?
2. Why is there a need to improve business ethics?
3. Why should business organizations adopt a Code of Conduct?
4. Why do people act unethically?
5. Why is there a need for ethical behavior for professionals?

BONUS (5 points)

What does SEC stand for?