The due diligence process aims at establishing and verifying:I. The identity of the beneficial owner.II. The identity of the legal person.III. The identity of the trust or similar arrangement.IV. The ownership and control structures. Question 1Answer a. I, II and IV only. b. I, II, III and IV. c. II, III and IV only. d. I, II, and III only.
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The due diligence process aims at establishing and verifying:
I. The identity of the beneficial owner.
II. The identity of the legal person.
III. The identity of the trust or similar arrangement.
IV. The ownership and control structures.
Question 1Answer
I, II and IV only.
I, II, III and IV.
II, III and IV only.
I, II, and III only.
Step by step
Solved in 2 steps
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- A sponsored licensee owns one-quarter of an investment property. The four owners want to sell the property, but the other three do not want the licensee to mention their licensee to buyers. In Illinois, which of the following is true? A. Because the licensee owns only a quarter, no disclosure is necessary B. If they list the property with the licensee’s sponsoring broker, no disclosure is necessary C. If they list the property with a different broker, no disclosure is necessary D. Disclosure of the license is requiredWhile on a hike with a tour group in the mountains, Derek gets mauled by a bear. No previous reports of bears in the area had been made. Derek wants to hold the tour company liable for his injury. Which of the following is most likely true? A. Derek cannot hold the tour company liable because there is no way to prepare for or avoid a bear attack. B. The company is not at fault because it does not owe Derek a duty of care. C. Because most people would not expect something as dangerous as a bear encounter while on a hike, an assumption of risk defense will probably not protect the tour company. D. Derek assumed the risk of a bear attack by joining the tour group, so he cannot hold the tour company liable.How can a proxy contest be used to overcome a capturedboard? (Select all of the choices that apply.) A. Proxy contests are simply contested elections for directors. In a proxy contest, there are two competing slates of directors rather than just one slate proposed by the company. B. If a board has become captured or unresponsive to shareholderdemands, shareholders can put their own slate of new directors up for election. C. If the dissident slate wins, then the CEO will have succeeded in placing new directors, presumably not beholden to the CEO, on the board. D. If the dissident slate wins, then shareholders will have succeeded in placing new directors, presumably not beholden to the CEO, on the board. E.If a board has become captured or unresponsive to shareholderdemands, the CEO can put a slate of new directors up for election.