The CEO of a Major Corporation Is Being Interviewed by a Reporter

question 75

Multiple Choice

The CEO of a major corporation is being interviewed by a reporter from a TV news show.The CEO makes over $150 million a year.The reporter asks,"Are you really worth $150 million a year to your company,especially when your company has lost money the last three years? In fact,most of your employees make minimum wage which is not enough to support a family." All of the following are plausible responses by the executive to the reporter's question EXCEPT

• A) "I have to make major decisions, and I work endless hours under great pressure."
• B) "You will find that my compensation is in line with the CEOs of other firms in this industry."
• C) "This may seem like a lot of money to you, but in comparison to what top executives make in Europe and Asia, my compensation is quite moderate."
• D) "I have the responsibility for a major corporation. We would have lost even more money if I had not made the changes I did to our operations."

Recognize the importance of adhering to professional standards and the consequences of failing to do so.

Identify the elements required to establish a case of negligence against a professional, including duty of care, breach of duty, and the necessity of showing injury.

Understand the concept of privity in professional liability and how it affects the ability of third parties to recover damages.

Grasp the implications of fraud in professional practice, including both actual and constructive fraud.

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Definitions:

Sporadic Reliability

A term indicating an unpredictable level of reliability, where the performance or function of a system or component is irregular and not consistently dependable.

Hardwired Relay Schematic

A diagram that represents the physical wiring and logic connections of relays within a control system.

Ladder Logic

A graphical programming language used in programmable logic controllers (PLCs) that emulates electrical relay logic circuits.