Insider trading rules apply to information exchanged over the Internet and chat rooms.
a. True
b. False
SOX is the shorthand for the Sarbanes-Oxley business crime legislation.
a. True
b. False
Under federal law, ISPs are not permitted to disclose your identity when someone asks
for the actual name behind a user name.
a. True
b. False
Private parties can enforce the FTC regulations on comparative ads.
a. True
b. False
Sexual harassment requires proof of physical contact.
a. True
b. False
In most states, letters of reference are exempt from liability for defamation.
a. True
b. False
Which of the following is not an express warranty?
a. “These shelves hold up to 300 lbs. each.”
b. “This fingerpaint will wash out of clothes with just soap and water.”
c.”This sweater is made of the finest materials.”
d.All of the above are express warranties.
Day 1: Mike sends Tina a letter offer to sell his fish tank to her for $125.
Day 2: Tina faxes Mike an acceptance. Day 2: Mike receives Tina’s fax.
Day 3: Mike calls Tina to revoke his offer. Mike and Tina:
a. do not have a contract since Tina used the wrong means of acceptance.
b. do not have a contract because Mike revoked his offer before Tina accepted properly.
c.have a contract as of the receipt of the fax.
d.have a contract as of when the fax was sent.
Which of the following is not a relevant issue examined in a preemption issue?
a. legislative history
b. level of detail in the federal regulation
c. benefits of federal regulation
d. degree of conflict
e. All of the above are relevant issues.
Campbell’s Soup created a low sodium line of soups that had the label on the can that
read “25% less sodium than regular soup.” Tests revealed that the lowsodium soups had
the same amount of sodium as regular soups. Which of the following statements is true?
a. Campbell’s made an express warranty that it breached.
b. There is no warranty claim that can be based on a product label.
c.There can be recovery for the claim only if a purchaser is harmed by the claim.
d.The FTC has no jurisdiction over claims made on product labels.
The is the largest ADR provider in the country for commercial disputes.
a. National Arbitration Forum
b. American Arbitration Forum
c.American Arbitration Association
d.American Arbitration Forum
Having a code of ethics does not reduce a company’s sentence under the federal
sentencing guidelines.
a. True
b. False
Only employers are subject to the NLRA’s good-faith bargaining requirement.
a. True
b. False
RICO is a federal criminal statute.
a. True
b. False
The Sixth Amendment is the right-to-speedy trial amendment.
a. True
b. False
In the ParableoftheSadhu:
a. the lesson of personal values vs. organizational or group values is drawn.
b. the lesson that the rules of business prevail over personal values is drawn.
c.the lesson of survival of the fittest is given.
d.the lesson of “every man for himself” is critical for business survival.
The U.S. Court of Appeals is a court of original jurisdiction.
a. True
b. False
The overtime pay provisions of the FLSA are now broader because of rule
interpretations by the Department of Labor.
a. True
b. False
Swenson’s wishes to challenge the actions of the Somali government in court. Which of
the following best describes
Swenson’s right to do so?
a. Swenson can file suit in federal district court in the United States and seek to have
the confiscation issue addressed by a judge.
b. Swenson can file suit in federal district court in Somalia and seek to have the
confiscation issue addressed by a judge.
c. Swenson is without remedy in this situation.
d. Under the Geneva Convention, the property must be returned to Swenson.
Which of the following remedies is not available in Title VII cases?
a. injunction
b. back pay
c.punitive damages
d.All of the above are available under Title VII.
The opinions of the U.S. Supreme Court must be unanimous.
a. True
b. False
Ann McMillan is a CPA with a public accounting firm. A client of Ann’s has called to
tell her that the SEC is investigating the company for possible misrepresentations in the
company’s financial reports. Ann is worried that she may have pushed the envelope in
allowing some of the revenues of the client to be reported as they were. Ann shreds
several sets of notes from her meetings with the client on revenue recognition. Ann
a. is probably guilty of obstruction of justice.
b. has done nothing wrong because the notes are privileged communication the SEC is
not entitled to have.
c. has not committed obstruction of justice because the SEC has not contacted her.
d.none of the above
If the act of an agent is ratified:
a. there is retroactive authority for the act.
b. the principal has agreed to allow the agent to be liable.
c.the agent then has express authority for that act in the future.
d.none of the above
An unincorporated association:
a. has no liability for its members.
b. is not a principal with capacity.
c.can have agents.
d.none of the above
A merger requires a board resolution and shareholder approval.
a. True
b. False
Only businesses can provide input in the formal rulemaking process.
a. True
b. False
An attorney:
a. must reveal a client’s confession of a crime.
b. cannot represent a guilty party.
c.must see that his/her client’s rights are protected.
d.can violate the law to protect a client.
Software copyrights cover operation methods, such as menus.
a. True
b. False
The largest OSHA fine was $870 million given to BP for a Texas refinery’s violations.
a. True
b. False
Which of the following methods of arbitration allows the parties input on the
decision-maker(s)?
a. peer review
b. arbitration
c.mediation
d.all of the above