Most companies have its employees sign non-disclosure agreements to try to insure
silence when the employee no longer works there.
a. True
b. False
A horizontal merger is a merger among competitors.
a. True
b. False
The Corruptions Perceptions Index compiled by Transparency International:
a. shows that all countries’ governments are corrupt.
b. shows a correlation between corruption and the lack of economic development.
c.shows corruption is acceptable in most countries.
d.none of the above
Which of the following is not an element of criminal fraud?
a. a false material statement
b. reliance by the buyer
c. a mistake by the seller or the intent to mislead
d.All of the above are elements.
What is the distinction between theft and embezzlement?
a. the mens rea is different
b. the amount taken
c. the entrustment of the property
d.They are the same crime.
An expartecontact is prohibited in administrative hearings.
a. True
b. False
Dissolution of a partnership is termination of a partnership.
a. True
b. False
Contract interference:
a. requires involvement by more than one third party.
b. requires proof of intent to interfere.
c.is a federal crime.
d.requires proof of misappropriation.
Which of the following actions by a corporation would enjoy full First Amendment
protection (i.e., could not be regulated)?
a. a media campaign by a tobacco company against a cigarette tax increase
b. a media campaign for soap that inaccurately labels the soap “hypoallergenic”
c. advertising by an attorney that is misleading with respect to the fees charged for
services
d. a mailing that contains offers for the sale of fraudulent securities
Statutes of limitations are always four years.
a. True
b. False
“Saytopay” gets its name from stakeholders getting to vote on executive compensation.
a. True
b. False
The Uniform Electronic Transaction Act (UETA):
a. has been adopted in all 50 states.
b. has been declared unconstitutional.
c.is the same as E-sign.
d.none of the above
A partner’s interest in a partnership is not transferable.
a. True
b. False
Which of the following would be a federal crime?
a. copying FDIC data without authorization
b. changing figures on military invoices without authorization
c.placing a virus on a federal computer system
d.All of the above are federal crimes.
This is the famous class action lawyer who is now in prison for attempted bribery of a
federal judge.
a. Russell Crowe
b. Dickie Scruggs
c.Zachary Scruggs
d.Jeffrey Wigand
Which of the following is currently the test for determining whether conduct is or is not
interstate commerce?
a. direct and immediate effect test
b. affectation doctrine
c. regulation of goods and not businesses
d. none of the above
When is precedent not followed?
a. when circumstances have changed
b. when technology has changed
c.when there are changes in the factual circumstances from those in which the
precedent was established
d.It is possible that precedent would not be followed in all of the above circumstances.
The UCC has been adopted by:
a. all 50 states.
b. over half the states.
c.49 states.
d.a quarter of the states, but it is rapidly gaining in adoptions.
A partnership must file a separate tax return and pay taxes on its income.
a. True
b. False
“As is” written in a contract:
a. serves to disclaim the implied warranty of merchantability.
b. serves to disclaim the implied warranty of fitness for a particular purpose.
c.has no effect on warranty protection.
d.both a and b
e. none of the above
Sedres, Inc.is the manufacturer of the current best-selling TV video game system.
Sedres will not sell parts for repair of the systems to anyone other than its authorized
dealers. All Sedres authorized dealers are required to send used parts back to Sedres.
Sedres will terminate an authorized dealer if it uses non-Sedres parts for repairs. Sedres’
policies on dealers:
a. constitute violations of the Sherman Act.
b. are simply valid quality control mechanisms.
c.are valid since no one is barred from entry.
d.would be violations only if there were no other TV video game manufacturers.
The corporate opportunity doctrine requires directors to first present related business
opportunities to the corporation.
a. True
b. False
Sarah Blankenship was traveling for business. She took a cab from the office where she
was doing her company assignment to the airport. As she paid the cab driver, she asked
for a receipt and the driver insisted that she take two receipts, one that was blank so that
she could fill it in and “get a little extra from her company for travel reimbursement.”
Sarah accepted the blank receipt and wonders if there would be any problem in
submitting for reimbursement for an extra cab ride. “It wouldn”t be a lot,” she thinks to
herself, “just a little bit that I can say was for purposes of getting to dinner one night
while I was there.” Which of the following best describes Sarah’s situation?
a. The cab driver committed the ethical breach, not Sarah, so she should use the receipt.
b. There are many unreimbursed expenses when you travel for your company, so the
extra receipt is a way of recouping those expenses.
c.If Sarah submits the extra receipts for reimbursement she is taking something that
does not belong to her.
d.Sarah should save the receipt and use it another time when she forgets to get a receipt.
Which of the following does not have resale restrictions?
a. intrastate sales
b. Rule 505
c.Regulation A
d.none of the above
Basa Industries, Inc., because of processing changes, has “0” emissions from its plant in
New Mexico. However, Basa holds a permit for emissions from the EPA. Basa:
a. must return the permit to the EPA.
b. can sell the permit privately.
c.can sell the permit only through the EPA.
d.must use the permit or forfeit it in six months.
An IPO does not require SEC registration.
a. True
b. False
Testimony in a court room is not privileged for purposes of defamation actions.
a. True
b. False
An appeal of an IRS decision against you on your tax return would be heard in:
a. state court.
b. tax court.
c.Federal District Court.
d.U.S. Court of Appeal.
Jane Mitchell, age 16, was shopping at her neighborhood Osco Drug Store. She had
been looking at magazines as she waited for a frien
d.She decided to purchase a TigerBeatmagazine and then wait for her friend outside the
store. She paid for the magazine, but as she headed for the door, the store manager used
the store’s loudspeaker system to announce, “You, with the green hair and the maroon
Doc Marten’s on. Yes, you, by the front of the store. I saw you take that magazine. Stop
right there. I have a gun pointed at you.” The manager’s actions:
a. are protected by the shopkeeper’s privilege.
b. constitute defamation.
c.were excessive but will not result in any liability.
d.none of the above
The 2012 corruption index shows that Somalia is considered the most corrupt country.
a. True
b. False