Both formal and informal rulemaking processes include public hearings.
a. True
b. False
Under the FOIA, agencies are not permitted to charge for copying costs.
a. True
b. False
The assignment of limited partnership interests:
a. is prohibited by the ULPA.
b. may be a sale of securities subject to federal regulation.
c.is liberally permitted under the Internal Revenue Code.
d.none of the above
An election for a union cannot be held more than once every 12 months.
a. True
b. False
Anna’s landlord of her business property in Tempe, Arizona notifies her that when the
next lease period begins, her rent will increase $45 each month. Where can Anna go to
determine her rights with respect to the rent increase?
a. her rental contract
b. Arizona Revised Statutes
c.rent control ordinances
d.all of the above
Partners are only jointly liable for torts of other partners committed in the scope of the
partnership business.
a. True
b. False
The states did not have federal legislation prior to the time of the federal securities
laws.
a. True
b. False
The FTC can issue an order to halt a comparative ad if information used in the ad is
inaccurate.
a. True
b. False
To establish an express warranty under the UCC, the buyer must produce evidence that
the seller used the term
“warrant” or “guarantee.”
a. True
b. False
Anheuser-Busch, InBev NV, the maker of Bud Light, proposed a merger with Modelo,
the maker of Corona. At the time of the proposed merger, AB InBev NV held 39% of
the beer market, Miller/Coors held 26%, Modelo held 7%, and Heineken , the last of the
big four held 6%. Other beer makers combined hold the remaining 22% of the U.S. beer
market. The combination would give AB InBev NV 46% of the market. Modelo has
been one of the market players that has resisted the parallel price increases in the
industry.
Which of the following statements is correct?
a. The merger would raise questions at the Justice Department about market power.
b. The merger would be approved because there are so many other competitors.
c.The merger would be approved because there are so many different beers and the
relevant market is defined by individual types of beers.
d.The Sherman Act does not apply to alcohol companies.
In punishments for corporate criminal cases, shame punishment is increasing.
a. True
b. False
“Can you lift 20 pounds without use of that arm?” is a job interview question that
violates the ADA.
a. True
b. False
The Ollie’s Barbeque case and the Morrisoncase have nothing in common legally
because one involved interstate commerce and the other case involved intrastate
commerce.
a. True
b. False
Watered shares result:
a. when a purchaser does not pay full market value for the shares.
b. when a purchaser does pay more than par value for the shares.
c.in personal liability for the shareholders.
d.none of the above
Overtime pay is computed on a:
a. monthly basis.
b. daily basis.
c.weekly basis.
d.none of the above
Employers are required to make reasonable accommodations for employees’ religious
beliefs and practices.
a. True
b. False
The corporate veil can be pierced when:
a. there is only one shareholder in the corporation.
b. the corporation was formed to avoid personal liability.
c.the corporation has only preferred stock.
d.none of the above
Evidence of sharing profits is prima facie evidence of partnership existence unless the
profits are:
a. wages or rent.
b. not shared equally.
c.income.
d.all of the above
Rule 504 has no limitations on number of offerees.
a. True
b. False
Williams Act filings are:
a. only required of offerors.
b. not required of white knights.
c.not required in management offers.
d.none of the above
The eventual result in the U.S.v.Microsoftcase was:
a. Bill Gates was sentenced to one year in prison for violations of the Sherman Act.
b. The court concluded there were no violations of the Sherman Act.
c.The court concluded that Microsoft violated the Sherman Act.
d.The court concluded that Microsoft did not possess monopoly power. e. none of the
above
Private citizens may not bring suit under federal environmental legislation.
a. True
b. False
Which statute is not an amendment to Title VII?
a. Equal Pay Act
b. Equal Employment Opportunity Act
c.Pregnancy Discrimination Act
d.All of the above are amendments to Title VII.
“M & M’s” brand candy is:
a. an example of a trademark.
b. an example of a generic label not entitled to trademark protection.
c.a trademark protectable for 17 years.
d.none of the above
EBITDA is the same as GAAP accounting.
a. True
b. False
The Rivers and Harbors Act was used, at one time, to control water pollution.
a. True
b. False
Snow-Man manufactures a cotton candy machine. It will not sell its machine unless the
buyer purchases at least five-dozen paper cones for holding the cotton candy.
Snow-Man’s requirement:
a. is an example of an exclusive dealing contract.
b. is a tying arrangement.
c.is a requirements contract.
d.none of the above
The federal government is required to build a border fence along the U.S. and Mexican
border. As construction began, several environmental groups brought suit because the
Army Corps of Engineers and the Department of Homeland Security had not complied
with federal law. Which of the following federal laws would the two agencies have to
comply with before constructing the wall?
a. They would need to do due diligence on the land before building the fence.
b. They would need to do an EIS.
c.They would need to designate any area where the fence is located as a brownfield.
d.both b and c
The Trademark Dilution Act provides a remedy for:
a. commercial use of another’s trademark.
b. too many trademarks being registered.
c.overuse of a trademark.
d.none of the above
Milton Friedman’s philosophy on corporate behavior is:
a. a business serves its shareholders best by serving the community.
b. a business serves its shareholders best by serving society at large.
c.a business serves its shareholders best by serving regulatory interests.
d.a business serves its shareholders best by serving shareholders.
Four major insurance brokers agreed that when it came time for renewals of coverage
with major customers that only one of them would submit a reasonable bid.The three
others would submit a much higher price and thereby not be in the running for the
renewal. The agreements of the insurance brokers:
a. save time and money and are not anticompetitive.
b. are an example of vertical trade restraint.
c.are an example of horizontal trade restraint.
d.are an example of tying.
The Federal Register System includes the Federal Register, the Code of Federal
Regulations, and the United States
Code.
a. True
b. False
Blue sky laws are state securities registration laws.
a. True
b. False
Working requirements mandate use and development of the patented product or the
rights are lost.
a. True
b. False