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OACETT Internationally Educated Professional Practice Sample Questions:

1. A Corporation may raise funds through the issue of equity securities. Which one of the following is an equity security?

A) Debentures
B) Preferred shares
C) Corporate bonds
D) Notes

2. You are a member of OACETT, a principal in XYZ Company and also a member of a city council. The city council approves appropriations for projects undertaken by the city. One such project is an energy conservation project with a large potential reduction in energy costs. XYZ Company has established a good reputation in the energy conservation field. XYZ Company has submitted a proposal to the city council to provide services for this project under consideration.
After reviewing the competitor's project reports, you notice serious errors that may result in safety issues. Which OACETT Code of Ethics principle is most relevant to this situation?

A) Report to the appropriate agencies any hazardous, illegal, or unethical professional decisions or practices by fellow members or others.
B) Hold paramount the safety, health, and welfare of the public, the protection of the environment, and the promotion of health and safety in the workplace.
C) Present clearly to employers and clients the possible consequences if professional decisions or judgments are overruled or disregarded.
D) Act with integrity towards clients or employers, maintain confidentiality, and avoid conflict of interest, but where such conflict arises, fully disclose the circumstances without delay.

3. What does IRS stand for?

A) Internal Responsibility System.
B) Interim Reply System.
C) Internal Response Sound.
D) Interim Response System.

4. What is the purpose of the National Day of Mourning?

A) It's a day off work for personal use.
B) It's a day that serves to remind us of the dangers and risks in our workplaces.
C) It's a day off work to volunteer.
D) It's a day off work for mental health.

5. Which one of the following statements with respect to negligent misrepresentation is correct?

A) Misrepresentation rarely comes from the contract itself.
B) A contract that was entered into by inducement from misrepresentation is enforceable.
C) Misrepresentation is a false statement or conduct that induces a party to enter into a contract.
D) Misrepresentation occurs after a contract is in place.

Solutions: