Independence SIM

Question 1

If a Covered Member (OPIO) is asked to serve as trustee of a trust and trust owns the small amount of shares of attest client

Answer 1

Independence not impaired

Question 2

If a Covered Member is asked to serve as the executor of the estate owns the small amount of shares of attest client

Answer 2

Independence not impaired

Question 3

If a Covered Member (OPIO) is asked to serve as trustee of a trust and trust owns the share of attest client and you have the authority to make investment decisions for the trust.

Answer 3

Independence impaired

Question 4

If a Covered Member (OPIO) is asked to serve as co-trustee of a trust and trust is committed to buy more than 10% of client’s equity ownership interest.

Answer 4

Independence impaired

Question 5

If a Covered Member (OPIO) is asked to serve as co-trustee of a trust and make no investment decision but trust’s holdings in attest client exceed more than 10% of trust’s assets.

Answer 5

Independence impaired

Question 6

If a Covered Member (OPIO) is asked to serve as executor of a estate and estate owns the share of attest client and you have the authority to make investment decisions for the estate.

Answer 6

Independence impaired

Question 7

If a Covered Member (OPIO) is asked to serve as co- executor of a estate and estate is committed to buy more than 10% of client’s equity ownership interest.

Answer 7

Independence impaired

Question 8

If a Covered Member (OPIO) is asked to serve as co- executor of a estate and make no investment decision but estate’s holdings in attest client exceed more than 10% of estate t’s assets.

Answer 8

Independence impaired

Question 9

Covered member is a grantor and the trust has small amount of investment in the attest client.

Answer 9

Independence impaired