12.______ In the State of Illinois, corporations are organized and regulated by:

a. the Clerk of the Court

b. the Secretary of State

c. the County Clerk

d. the Secretary of Financial Institutions.

13.______ Which of the following is normally considered an Agent of a corporation, with the

authority to enter into contracts on behalf of the corporation:

a. Officer

b. Shareholder

c. Director

d. Certified Public Accountant

14.______ In agency law, the phrase Fiduciary Relationship means:

a. there exists an employment contract

b. there exists a purchaser/seller relationship

c. there exists a relationship involving trust and confidence

d. the relationship is irrelevant

15._____ Every corporation must identify which of the following to receive legal documents

and service of summons on behalf of the corporation:

a. Chief Executive Officer

b. Secretary of State

c. Enrolled Agent

d. Registered Agent