38) Termination of the relationship between the borrower and the guarantor allows the guarantors to revoke their obligations under the guarantee O TRUE FALSE Single choice 39) The lender takes a guarantee from a parent company supporting the loan obligations of its subsidiary. Which of the following statement is correct? The lender has a preferred claim against the parent company The lender has a secured claim against the parent company The lender has an unsecured claim against the parent company The lender has a secured claim against the subsidiary company Single choice 40) A family business has recently passed from a father to four sons. The sons are discussing strategy and plans for growth. They are thinking about bringing an independent director onto the Board. Each son makes a different point. Which argument do you think will help the company the most in the long term? An independent director will help us improve planning and bring discipline, strategic focus and structure to Board meetings An independent director will get in the way of family decisions An independent director will always be on the side of family members The independent director must have the same skills as we do