The Interpretation of Rule 101,Independence,allows Members to

question 44

Multiple Choice

The interpretation of Rule 101,Independence,allows members to

• A) Hold a material indirect interest in a client.
• B) Have loans from a client that are collateralized by cash deposits held by the client.
• C) Have home mortgages with a client even if they participate in the engagement.
• D) Be a trustee of a client pension or profit sharing trust.

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Definitions:

Special Duty

An obligation or responsibility that is specific to a particular role, situation, or relationship, requiring action or care beyond ordinary duties.

Real Estate

Assets that include land, the structures on that land, and its inherent natural resources.

Res Ipsa Loquitur

A legal doctrine stating that the mere occurrence of certain types of accidents implies negligence.

Brewery

A place where beer is commercially made.