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OACETT Internationally Educated Professional Practice Exam Sample Questions (Q126-Q131):

NEW QUESTION # 126
What is a widely-held corporation?

A. One whose shares are not available for purchase by the general public.
B. One whose share can be bought and sold on a designated stock exchange.
C. One that has many shareholders.
D. One that has few shareholders.

Answer: B

Explanation:
Awidely-held corporationis a company whose shares arepublicly traded on a stock exchangeand are available for purchase by the general public.
Step-by-Step Explanation:
* Definition of a Widely-Held Corporation:
* A corporation withmany shareholders.
* Shares arepublicly traded on stock exchanges(e.g., TSX, NYSE).
* Characteristics:
* Subject tosecurities regulationsto protect investors.
* More transparency requiredin financial reporting.
* Why Option B Is Correct:
* Key feature: Shares can bebought and sold on a designated exchange.
* Why Other Options Are Incorrect:
* A (Many shareholders)- Not all large companies are publicly traded.
* C (Shares not available to public)- Describes aprivately-held corporation.
* D (Few shareholders)- Applies toclosely-held corporations.
Reference:
Ontario Business Corporations Act - Definition of Publicly Traded Corporations OACETT Professional Practice Guidelines - Business Structures in Engineering

NEW QUESTION # 127
What does a surety generally pay the owner if the contractor fails to execute the contract?

A. The financial costs for calling for new tenders and the associated delay
B. A guarantee of full payment for all losses regardless of the cost
C. A guarantee of 75% of full payment for all losses regardless of the cost
D. The estimated project value minus the cost of the bid bond

Answer: A

Explanation:
Asurety bondis a financial guarantee that ensures a contractorfulfills their contractual obligations. If the contractorfails to complete the project, thesurety pays for the costs of re-tendering and delays.
Step-by-Step Explanation:
* Definition of a Surety Bond:
* Athird-party financial guaranteeensuring contract completion.
* If a contractordefaults, the surety compensates the owner forre-tendering and delays.
* Why Option B Is Correct:
* Thesurety does not cover full project costsbutpays for financial losses due to delays.
* Why Other Options Are Incorrect:
* A (Full payment for all losses)- Suretydoesn't pay unlimited amounts.
* C (75% of costs covered)- Nofixed percentage applies.
* D (Project value minus bid bond)- The surety coversactual financial damages, not fixed amounts.
Reference:
Ontario Surety Association - Surety Bonding Principles
OACETT Professional Practice Guidelines - Financial Responsibilities in Contracts

NEW QUESTION # 128
Why are soft skills important?

A. Because your employer is more likely to overlook your mistakes if you are likable.
B. Because getting along with colleagues is more important than doing good work.
C. Because they make you appear easily influenced and therefore useful in a conflict.
D. Because they enable meaningful interactions and build trust among colleagues.

Answer: D

Explanation:
1. What are Soft Skills?
* Soft skills are interpersonal skills that help professionals communicate, collaborate, and solve problems effectively.
* Theycomplement technical skills and improve workplace relationships.
2. Examples of Soft Skills in the Workplace:
#Communication skills- Clearly conveying ideas and information.#Teamwork- Collaborating effectively with colleagues.#Problem-solving- Handling challenges in an efficient and logical way.#Adaptability- Being flexible and open to change.
3. Why Soft Skills Matter for Engineers & Technologists:
* Strong technical skills alone are not enough; professionalsmust work with teams, manage projects, and communicate findings clearly.
* Employers look for soft skillsbecause they create a positive work environment and improve project outcomes.
4. Why Option B is Correct:
* Soft skills enable meaningful interactions and build trust among colleagues, improving collaboration and workplace efficiency.
5. Why Other Options Are Incorrect:
* A (Getting along is more important than good work)-Both technical and interpersonal skills are needed for success.
* C (Appearing easily influenced is useful in conflicts)-Being easily influenced is a weakness, not a professional strength.
* D (Being likable means mistakes are overlooked)-Employers value competency and integrity, not just likability.
Reference:
Harvard Business Review - The Importance of Soft Skills in the Workplace OACETT Professional Practice Guidelines - Communication & Leadership Skills for CETs

NEW QUESTION # 129
What does "time-loss claim accepted" mean?

A. An incident for which an employee is compensated for a loss of wages following a work-related injury or receives compensation for a permanent disability with or without any time lost in their employment.
B. A fatal incident and claim that results in compensation to the employee's next of kin.
C. An incident and claim that is initially rejected but gets overturned and finally accepted.
D. An incident and claim that measures and compensates for the length of days that employment is affected.

Answer: A

Explanation:
1. What is a Time-Loss Claim?
* Atime-loss claimis aworkers' compensation claim made when an employee is injured on the job and cannot work due to the injury.
* The employer or worker submits the claim to the Workplace Safety and Insurance Board (WSIB) or a similar body.
2. How is Compensation Handled in a Time-Loss Claim?
* If the claim isapproved, the worker may receive:
* Wage replacement benefits(compensation for lost earnings).
* Medical treatment coverage(physiotherapy, surgery, rehabilitation).
* Permanent disability benefitsif applicable.
3. Why Option C is Correct:
* It correctly defines that a time-loss claim means the employee is compensated for lost wages or a disability due to a workplace injury.
4. Why Other Options Are Incorrect:
* A (Fatal incidents)- Atime-loss claim covers temporary and permanent disabilities, not just fatalities.
* B (Initially rejected claims being overturned)-A time-loss claim is a type of claim, not a reference to appeals.
* D (Compensation based on length of time off work)-Some injuries result in disability benefits even if the worker eventually returns to work.
Reference:
Ontario Workplace Safety & Insurance Board (WSIB) - Time-Loss Claims & Compensation Rules Occupational Health & Safety Act (OHSA) - Worker Compensation & Safety Requirements

NEW QUESTION # 130
What is the purpose of the National Day of Mourning?

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

Answer: A

Explanation:
1. What is the National Day of Mourning?
* Observed every year on April 28th, this daycommemorates workers who have been killed, injured, or made ill due to workplace accidents or unsafe conditions.
* It isrecognized across Canada and in over 100 countries.
2. Why the Day of Mourning is Important:
* Raises awareness aboutthe importance of workplace safety.
* Encourages employers and workers tocommit to stronger safety policies.
* Remembers those wholost their lives due to unsafe work conditions.
3. Why Option A is Correct:
* The National Day of Mourning serves as a reminder of workplace dangers and the need for safety improvements.
4. Why Other Options Are Incorrect:
* B, C, and D (Days off for various reasons)- The dayis for awareness and commemoration, not a holiday for mental health, volunteering, or personal use.
Reference:
Canadian Centre for Occupational Health & Safety (CCOHS) - National Day of Mourning Significance

NEW QUESTION # 131
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