36 Questions
Which of the following is NOT a characteristic of good governance?
Corruption
Which of the following is NOT a context in which governance can be used?
Educational governance
What is the role of an independent judiciary in good governance?
To enforce laws impartially
What is the role of the mainstream media in promoting good governance?
To provide information to citizens
What is the purpose of the House of Representatives in the Philippines?
To represent people per district
Which department in the Philippines is responsible for healthcare?
DOH
Which one of these is a key requirement of good governance?
Effectiveness
What is the purpose of corporate governance?
To facilitate effective management
What does transparency and full disclosure in corporate governance refer to?
Informing stakeholders about the company's activities
What is one of the basic principles of effective corporate governance?
Accountability
What does good corporate governance aim to ensure?
Transparency and full disclosure
What is a key characteristic of a society with good governance?
Equity
Which of the following is NOT a responsibility of the Board according to the text?
Appointing and removing senior management
Which of the following best describes corporate accountability?
The obligation to explain the company's actions
What is one of the best practice recommendations for structuring the board?
Having a balance of independence, diversity, and skills among directors
What does the board promote according to the text?
Ethical and responsible decision-making
Which of the following is NOT addressed by the ethics and operating principles?
Corporate opportunities
What is one of the responsibilities of the organization's senior official according to the text?
Ensuring widely accepted standards of behavior
Who makes recommendations on the Bank's risk appetite framework, tolerance, limits, and mandates?
The ERC
What is the purpose of the Bank's remuneration policies?
To encourage enhanced performance
What is the role of the chief executive officer and the chief financial officer according to the text?
To supply the Board with necessary information
What should the board establish in relation to remuneration according to the text?
A remuneration committee
What is the purpose of the Bank's risk assessment according to the text?
To monitor and understand the risk profile of the Bank
What are the legal requirements that the Bank is subject to according to the text?
Contractual requirements and banking practice
Which one of these is a best practice recommendation for promoting timely and balanced disclosure?
Design and disclose a communications strategy to promote effective communication with shareholders and encourage effective participation at general meetings.
Which one of these is NOT a responsibility of the board according to the text?
Ensuring compliance with IFRS.
Which one of these is a key requirement of good corporate governance?
Establishing a code of conduct to guide key executives.
Which one of these is a best practice recommendation for structuring the audit committee?
All of the above.
Which one of these is a responsibility of the organization's senior official according to the text?
Establishing a sound system of risk oversight and management and internal control.
Which one of these is a best practice recommendation for facilitating the effective exercise of shareholders' rights?
All of the above.
What is the purpose of establishing a code of conduct for key executives?
To maintain confidence in the company's integrity
What should the chief executive officer and chief financial officer do in relation to the company's financial reports?
State in writing that the financial reports present a true and fair view
How should the audit committee be structured?
Only non-executive or independent directors, with an independent chairperson and at least three members
What should be included in the bank's communications strategy with shareholders?
Promote effective communication and encourage effective participation at general meetings
What is the responsibility of the board in relation to risk management?
Review the adequacy and effectiveness of the bank's risk management strategies
What is the purpose of the enterprise risk management policy and risk appetite statement?
To govern the manner in which risk is managed in the group
Test your knowledge on corporate accountability and the role of the board in meeting the information needs of investment communities, safeguarding integrity in financial reporting, and implementing sound disclosure policies. Assess your understanding of whether an outsider can meaningfully analyze an organization's actions and performance.
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