The Fair Credit Billing Act requires that creditors promptly acknowledge in writing
consumer billing complaints and investigate billing errors.
Within a state, the state constitution precedes the U.S. Constitution.
The Robinson-Patman Act is a federal statute that makes it mandatory to provide a
notification prior to a merger.
In a periodic tenancy, the notice period is usually the same as the length of the payment
period.
The U.S. Supreme Court hears new evidence and testimony that was not permitted in
the U.S. district court.
Monetary damages and equitable remedies are provided in a civil lawsuit.
An indictment is a charge of guilt against the defendant.
The Beis Din is more a search for the truth than it is an adversarial process.
Oil refineries are an example of stationary sources of air pollution.
Monetary damages and equitable remedies are provided in a civil lawsuit.
Appellate court decisions are final and cannot be appealed to any higher courts.
A defendant is protected by the Double Jeopardy Clause of the Fifth Amendment if his
or her case results in a hung jury.
The secretary-general of the United Nations (UN) is elected by the Security Council.
The immigration laws of the United States are administered by the U.S. Citizenship and
Immigration Services (USCIS).
Point sources are sources of pollution that are fixed and stationary.
Motions for summary judgment are supported by evidence outside of the pleadings.
Classical Hindu law heavily rests on civil codes adopted during the reigns of different
kings.
The U.S. Supreme Court recognizes an accountant-client privilege under federal law.
Disparate-treatment discrimination occurs when an employer treats a specific individual
less favorably than others because of that person’s race, color, national origin, sex, or
religion.
A covenant is an unconditional promise to perform.
Proof of actual deception is required for an advertising to be considered false under
Section 5 of the FTC.
The United Nations (UN) Secretariat is headed by the secretary-general of the UN.
Kantian ethics is also known as duty ethics.
An agent is strictly liable for any intentional or innocent misrepresentation made by the
principal in a transaction.
Duress is a situation in which one party threatens to do a wrongful act unless the other
party enters into a contract.
Treble damages are allowed for violations of the Federal Trade Commission (FTC) Act.
The Clear Air Act requires the EPA to identify toxic air pollutants that present a
substantial risk of injury to human health or the environment.
A limited liability company cannot be abbreviated as LC.
Title VII of the Civil Rights Act of 1964 was intended to eliminate job discrimination
based on race, color, national origin, sex, and religion.
The parol evidence rule stipulates that the contract is a complete integration and the
exclusive expression of the parties’ agreement.
The intermediate appellate courts do not allow the parties to have oral hearings.
The fair use doctrine allows certain limited unauthorized use of copyrighted materials.
Insurance business that is regulated by a state enjoys a statutory exemption from federal
antitrust laws.
The Federal Trade Commission (FTC) Act can be used to recover treble damages.
A criminal conspiracy occurs when two or more persons enter into an agreement to
commit a crime.
A plaintiff who believes that he or she has been injured by the defendant can file a
cross-complaintagainst the defendant.
The FTC can sue in either the state or federal courts to obtain compensation on behalf
of consumers.
A shareholder’s authorization of another person to vote the shareholder’s shares at a
shareholders’ meeting in the event of the shareholder’s absence is known as a moxie.
What are the implications of the North American Free Trade Agreement (NAFTA)
treaty?
Which of the following is true of a franchise?
A) The franchisor and franchisee are established as separate legal entities.
B) A franchisee does not need a license to use the franchisor’s trademark.
C) The franchisee does not have access to the franchisor’s knowledge.
D) A franchise is considered a joint venture.
Which of the following federal statutes requires creditors to disclose finance charges,
including interest, points, and other fees paid for the extension of credit to debtors?
A) Fair Debt Collection Practices Act
B) Consumer Financial Protection Act of 2010
C) Mortgage Reform and Anti-Predatory Lending Act of 2010
D) Truth-in-Lending Act
The Merrick and Stanley Corporation has 28,000 outstanding shares. During a proposal
for a merger, the shareholders decide to increase the quorum of the vote of shareholders
to 75 percent, using the supramajority voting rule. How many minimum affirmative
votes would be needed to pass the supramajority voting requirement?
A) 14,001
B) 21,280
C) 21,000
D) 28,000
Which of the following is true of an independent contractor’s liability?
A) The agent is liable for torts committed by an independent contractor.
B) The independent contractor is personally liable for the torts he or she commits.
C) The principal is liable for the independent contractor’s torts.
D) Both the principal and the independent contractor are liable for the contractor’s torts.
The Consumer Product Safety Commission is the federal administrative agency
empowered to enforce the FDCA.
A(n) ________ is a contract that courts refuse to enforce in part or at all because it is so
oppressive or manifestly unfair as to be unjust.
A) unconscionable contract
B) contract of attrition
C) contract in furtherance of trade
D) quasi-contract
What is the purpose of a pretrial hearing?
A) requesting the other party to produce all documents relevant to the case
B) assessing the factual accuracy of the deposition of witnesses
C) instructing the judge to decide the case without a jury
D) facilitating the settlement of a case before it goes to trial
Which of the following statements is true of a breach of contract?
A) Strict performance by a party discharges that party’s obligations under the contract.
B) Inferior performance constitutes a minor breach of contract.
C) Substantial performance constitutes a material breach.
D) The most common remedy for a breach of contract is an award of equitable
remedies.
Which of the following is true of the CAN-SPAM Act?
A) It regards spam e-mail as a punishable offence.
B) It prohibits spammers from sending sexually-explicit e-mail.
C) It approves businesses to use spam as long as they do not lie.
D) It provides a civil right of action to individuals who have received unsolicited spam.
Under the Sarbanes-Oxley Act, in order to audit a public company, ________.
A) only public accountants can serve as members of the audit committee
B) a public accounting firm must register with the PCAOB
C) a public accounting firm must assign as members of the audit committee only
accountants who have worked closely with the company being audited for three years
or longer
D) the accountant-client privilege must be recognized by the state legislature of the
state in which the audit will occur
Which of the following opinions is necessary for a company to avoid unfavorable
consequences (for example, not being able to sell its securities to the public)?
A) an adverse opinion
B) a qualified opinion
C) a disclaimer of opinion
D) an unqualified opinion
AMS, Inc. is a factory located in Norfolk, Virginia that uses chemicals like lead and
arsenic in its production process. It discharges the waste products associated with its
manufacturing process into the Atlantic Ocean. From the information provided, it can
be inferred that ________.
A) AMS, Inc. is an electrical goods manufacturing company
B) AMS, Inc. is using radioactive materials in its production process
C) AMS, Inc. is likely to face corrective action by the U.S. Army Corps of Engineers
D) AMS, Inc. is a fixed and stationary source of pollution
Which of the following is true of sex discrimination?
A) It is not the same as gender discrimination.
B) Prohibition against sex discrimination applies only to women, not men.
C) Employment discrimination because of pregnancy is sex discrimination.
D) Sex discrimination is covered by Title II of the GINA.
States usually require employers to purchase ________ insurance from private
insurance companies or state funds to cover workers’ compensation claims.
A) employee
B) relief fund
C) provident fund
D) workers’ compensation
Laura is an investor and a limited partner in a limited partnership. Two years after she
becomes a limited partner, Laura believes that the general partners are not doing a very
good job of managing the affairs of the limited partnership, and she accordingly
participates in its management. While she was managing the business, a bank loans $1
million to the limited partnership, believing that Laura is a general partner. If the
limited partnership defaults on the $1 million loan, which of the following will be true?
A) Laura will not be held personally liable, as she is technically a limited partner.
B) Laura will be treated as a general partner and will be held personally liable for the
loan.
C) Laura will be held liable for her proportionate share of the $1 million, depending on
the total number of general and limited partners in the limited partnership.
D) Laura’s liability will be restricted to the value of her capital investment in the limited
partnership.
Which of the following terms refers to the overturn of verdict when jury misconduct is
detected?
A) remittitur
B) judgment notwithstanding the verdict
C) motion for summary judgment
D) motion for judgment on the pleadings
Which of the following is codified under the Foreign Sovereign Immunities Act
(FSIA)?
A) the act of state doctrine
B) the principle of restricted immunity
C) the supremacy clause
D) the choice of forum clause
A(n) ________ is a charge of having committed a crime, usually a felony, based on the
judgment of a grand jury.
A) arraignment
B) information statement
C) indictment
D) plea
________ refers to jurisdiction to hear a case because of jurisdiction over the property
of the lawsuit.
A) In rem jurisdiction
B) Quasi in rem jurisdiction
C) Private jurisdiction
D) In personam jurisdiction
Which of the following elements must be established to create an implied-in-fact
contract?
A) The plaintiff provided property or services to the defendant gratuitously.
B) The defendant accepted the plaintiff’s property or services as payment for an illegal
activity.
C) The plaintiff made the defendant sign the contract and then changed its terms,
identifying the new terms as “retroactively implied.”
D) The defendant was given an opportunity to reject the plaintiff’s property or services
but failed to do so.
Which of the following would be considered a stationary source of air pollution?
A) aircrafts
B) oil rigs
C) cargo ships
D) automobiles
________ discrimination occurs when an employer discriminates against an entire
protected class.
A) Disparate-treatment
B) Disparate-impact
C) Favored-treatment
D) Unfair-impact
When an accountant has behaved negligently causing damage to a third party, the third
party ________.
A) can claim privity of contract with the accountant
B) cannot bring a tort action against the accountant
C) cannot sue the accountant for breach of contract
D) cannot sue the accountant for constructive fraud
Which of the following is true of Section 10A of the Securities Exchange Act of 1934?
A) It prohibits manipulative or deceptive practices in probate.
B) It is a due diligence defense an accountant can assert to avoid civil liability.
C) It imposes duties on auditors to detect and report illegal acts committed by their
clients.
D) It imposes criminal liability on accountants for making material misstatements or
omissions in their performance of non-audit services.
The ________ Act provides for the creation of a government fund to finance the
cleanup of hazardous waste sites.
A) Resource Conservation and Recovery
B) Toxic Substances Control
C) Comprehensive Environmental Response, Compensation, and Liability
D) National Environmental Policy
Which of the following statements is true of national ambient air quality standards
(NAAQS)?
A) They divide pollutants into five categories based exclusively on the risks the
pollutants pose to human beings.
B) They are set at two different levels: primary and secondary.
C) They apply to all sources of pollution.
D) They are administered exclusively by the federal government.
A ________ is a seller’s or lessor’s express or implied assurance to a buyer or lessee that
the goods sold or leased meet certain quality standards.
A) bond
B) caveat emptor
C) warranty
D) collateral
Two brothers, Sam and Jim, were fighting over the division of their ancestral property.
After ten years of legal battle, a frustrated Sam contacted a powerful politician who
subjected Jim to extreme duress, forcing him to sign a contract in favor of Sam. When
Sam takes this contract to court, the contract will be declared ________.
A) voidable
B) void
C) null
D) unenforceable
Which of the following is a fiduciary duty owed by an agent not to act adversely to the
interests of the principal?
A) duty of loyalty
B) duty of undertaking
C) duty of discharge
D) duty of resolution
The ________ is the party who files a complaint.
Explain the CEO and CFO certification provision of the Sarbanes-Oxley Act (SOX) of
2002.
The ________ Clause prevents the government from enacting laws that either prohibit
or inhibit individuals from participating in or practicing their chosen religions.
Give an account of concurrent ownerships in multiple-dwelling buildings.
List the major federal statutes that regulate the labor-management relationship, along
with their respective provisions.
The legislative and judicial branches of government have established laws that enforce
the ________ of social responsibility for corporations.
The ________ is a test that is applied to classifications based on a suspect class or
involves fundamental rights.
________ are created by cities, municipalities, and counties to administer local
regulatory law.
Discuss “receiving stolen property” as a crime.
A failure to exercise care or to act as a reasonable person would act is a breach of the
________.
How are assets distributed after the dissolution of a general partnership?
The secretary of commerce is empowered to enforce the provisions of the ________
Act to protect endangered marine species.
A shareholder’s authorization of another person to vote the shareholder’s shares at the
shareholders’ meetings in the event of the shareholder’s absence is called a(n)
________.
The courts apply the Howey test in determining whether an arrangement is a(n)
________ and therefore a security.
________ refers to the federal statute enacted by Congress, or the state statute enacted
by a state legislature, that is enforced by the administrative agency.
Discrimination based on information from which it is possible to determine a person’s
propensity to be stricken by diseases is called ________.
How does the Landrum-Griffin Act regulate the internal affairs of unions? Can unions
discipline their members? Explain your response.