1. Which of the following is a COSO principle dealing with monitoring activities:

A) Attract and retain competent individuals

B) Commitment to integrity and ethical values

C) Developing general control activities over technology

D) Performing evaluations to ensure internal controls are functioning as intended

E) Communication with external parties regarding functioning of controls

2. Which of the following is not true about corporate governance

A) It involves stakeholders others than shareholders

B) It provides incentives for management to pursue objectives in the interest of the company

C) There are multiple models of corporate governance

D) Its sole objective is to maximize stock price

E) It involves monitoring of performance

3. Which of the following is true about ERM

A) The COSO ERM Framework is the only approved ERM framework in the U.S.

B) 90% of all corporations have implemented the entire COSO ERM Framework

C) A revised version of the COSO ERM Framework was issued in 2013

D) An effective ERM process will ensure that the enterprise will achieve its business objectives

E) None of the above are true