Under the Treaty Clause, the ________ is seen as the agent of the United States in
dealing with foreign countries.
A) United Nations (UN) Secretariat
B) U.S. president
C) United Nations (UN)
D) U.S. Senate
The ________ prohibits health insurance companies from terminating health insurance
coverage when a person gets sick.
A) Health Care Reform Act
B) Drug Amendment of the FDCA Act
C) Medicinal Device Amendment Act
D) Food, Drug, and Cosmetic Act
Once a strike begins, the employer may continue operations by ________ to take the
place of striking employees.
A) hiring replacement workers
B) hiring undocumented workers
C) acquiring crossover workers
D) acquiring wildcat strikers
The ________ establishes a uniform and comprehensive set of rules that govern the
creation, performance, and enforcement of computer information transactions.
A) CAN-SPAM Act
B) UCITA
C) ECPA
D) ACPA
The ________ Act is a federal statute that permits private parties to sue companies for
fraud on behalf of the government.
A) Business Norms
B) Sarbanes-Oxley
C) Glass-Steagall
D) False Claims
Which of the following would likely give rise to a quasi-contract?
A) an employee receiving his or her paycheck monthly
B) two companies signing a business agreement of indefinite duration
C) an unconscious man being treated in a hospital emergency room
D) a woman hiring a caterer only after the caterer promises to deliver the food on time
The area franchisee is also called a ________.
A) joint venturer
B) limited partner
C) subfranchisor
D) strategic partner
The Environmental Protection Agency (EPA) lacks adjudicative powers to hold
hearings and order remedies for violation of environmental laws.
Which of the following constitutes a breach of the duty of loyalty by a corporate
officer?
A) straight voting
B) cumulative voting
C) piercing the corporate veil
D) self-dealing
Who among the following can access Henry’s stored electronic communications
without violating the ECPA?
A) Henry’s colleague at work, who is working on the same project as Henry and needs
the information.
B) Henry’s wife, who suspects him of adultery.
C) Henry’s boss, who suspects him of leaking confidential information.
D) Henry’s personal financial advisor, who wants to see if he has sufficient funds to
make an investment.
Which of the following statements is true about the Federal Arbitration Act (FAA) of
1925?
A) The FAA restricts parties from obtaining a court order to compel arbitration with an
arbitration agreement.
B) The FAA restricts federal courts from hearing issues of law that have been decided
by an arbitrator.
C) The FAA provides that arbitration agreements involving commerce are revocable
contracts under ordinary circumstances.
D) Breach of contract cases and tort claims are not candidates for arbitration as per the
FAA.
Which of the following is the form of business ownership used by most public
accounting firms?
A) limited liability partnership
B) C corporation
C) S corporation
D) general partnership
A pedestrian trips and falls on a poorly lit sidewalk in front of Kate Geller’s house and
is injured. If the pedestrian sues for damages, which of the following parties would
most likely be liable to pay the damages?
A) the civic authority
B) Kate Geller
C) the residents’ association of the locality
D) the pedestrian
Which of the following is a defense to a charge of monopoly?
A) horizontal price fixing
B) natural monopoly
C) the setting of minimum resale prices
D) market sharing
The ________ is a body that prosecutes cases that nations refer to it as well as cases
involving treaties and the United Nations (UN) Charter.
A) Security Council
B) General Assembly
C) International Court of Justice (ICJ)
D) International Monetary Fund (IMF)
The wrongful or fraudulent taking of another’s personal intangible properties like trade
secrets, computer programs, and other business property is considered a(n) ________.
A) robbery
B) larceny
C) aggravated robbery
D) aggravated burglary
The accountant-client privilege provides that ________.
A) only an accountant can serve as a witness for his or her client in a court action
B) an accountant’s paperwork be used as prima facie evidence against his or her client
in a court action
C) an accountant cannot be called as a witness against his or her client in a court action
D) an accountant does not enjoy work product immunity when his or her client is
accused of gross negligence
The Analytical School of jurisprudence maintains that the law should be ________.
A) shaped by logic
B) based on social behavior
C) set by the ruling class
D) based on morality
Which of the following moral theories will help an anthropologist study ancient
societies with an impartial and unprejudiced mindset?
A) Rawls’s social justice theory
B) utilitarianism
C) Kantian ethics
D) ethical relativism
Which of the following actions requires all members in a manager-managed LLC to
vote?
A) issuing a certificate of interest
B) admitting new members
C) converting an existing business into an LLC
D) expanding operations in another country
Securities that establish a debtor-creditor relationship in which the corporation borrows
money from the investor to whom a debt security is issued are known as ________.
A) authorized shares
B) preferred stocks
C) common stocks
D) fixed income securities
The U.S. Supreme Court has held that sexual harassment that creates a hostile work
environment violates ________.
A) Title VII of the Civil Rights Act of 1964
B) the Fair Employment Practices Act
C) Title II of the GINA
D) Title I of the ADA
The ________ provides that federal law takes precedence over state or local law.
A) preemption doctrine
B) Bill of Rights
C) Due Process Clause
D) Free Exercise Clause
________ crimes require that the perpetrator either knew or should have known that his
or her actions would lead to harmful results.
A) Nonintent
B) Specific intent
C) General intent
D) Explicit intent
Mark and Jack work as clerks at the New Bank of North America. They plan to rob the
bank and manage to get its floor plans. They study the security arrangements and
movements of the security personnel of the bank. They even get weapons in case force
is required to rob the bank. The police, however, get information about the plan and
arrest Mark and Jack before the robbery occurs. Mark and Jack have committed which
of the following crimes?
A) criminal conspiracy
B) extortion
C) money laundering
D) larceny
________ is a rehabilitation form of bankruptcy that permits a bankruptcy court to
supervise the debtor’s plan for the payment of unpaid debts in installments over the plan
period.
A) Chapter 7
B) Chapter 9
C) Chapter 12
D) Chapter 13
A competitor can lawfully use a rival’s trade secret if the competitor discovers the trade
secret by means of ________.
A) copyrighting
B) cross-licensing
C) patenting
D) reverse engineering
________ prohibits unions from engaging in unfair labor practices that interfere with a
union election.
A) The Wagner Act
B) Section 7 of the NLRA
C) Section 8(a) of the NLRA
D) Section 8(b) of the NLRA
Bertha, a surgeon, performed a kidney transplant on one of her patients. The surgery
was not successful and the patient did not survive. Which of the following statements is
true in this case?
A) Bertha cannot be held strictly liable as she was providing a service.
B) Bertha can be held strictly liable for the death of her patient.
C) Bertha and the medical staff assisting the surgery are strictly liable for the death.
D) The donor of the kidney can be held strictly liable for the death of the patient.
The ________ is a federal statute, enacted in 1930, that prohibits price discrimination.
A) Sherman Act
B) Clayton Act
C) Robinson-Patman Act
D) Federal Trade Commission Act
Treaties are considered to be part of the supreme law of the United States of America.
In case of a breach in trade agreements of the World Trade Organization (WTO), which
of the following WTO bodies first hears the dispute?
A) the WTO panel
B) the WTO appellate body
C) the WTO dispute settlement body
D) the WTO General Council
Rawls’s social justice theory is based on the ________ theory of morality proposed by
John Locke and Jean-Jacques Rousseau.
________ refers to a court that hears appeals from trial courts.
Why do governments and defendants enter into plea bargains?
Give an account of the Private Securities Litigation Reform Act of 1995
What is a premerger notification? Explain the process outlined by the
Hart-Scott-Rodino Antitrust Improvement Act to execute a merger.
When is an employer required to prove a bona fide occupational qualification? Explain
with an example.
________ is the liability of a professional who breaches his or her duty of ordinary
care.
The ________ is a federal statute that regulates written warranties on consumer
products.
Explain the torts of appropriation and invasion of the right to privacy with examples.
A(n) ________ is a document that two or more persons must execute and sign that
makes a limited partnership legal and binding.
Describe the purpose and requirements of an environmental impact statement (EIS).
The ________ Act is a federal statute that requires disclosure of credit terms on credit
card and charge card solicitations and applications.
A(n) ________ establishes the period during which a plaintiff must bring a lawsuit
against a defendant.
How does the UCC treat goods that were fraudulently obtained?
The ________ Clause prohibits states from enacting laws that unduly discriminate in
favor of their residents.