An organization that gives back to the community through employee volunteering or
through charitable donations is said to be:
A.upcycling.
B.designing for the environment.
C.superfunding.
D.socially sustainable.
The _____ is part of the executive Office of the President and it is the official U.S.
representative in all activities concerning the GATT.
A.Office of Management and Budget
B.Office of the U.S. Trade Representative
C.Administrative Office of the U.S. Courts
D.Office of Special Counsel
If an employer refuses to hire an applicant because he is an Asian, it is most likely to be
an example of discrimination based on ___.
A.religion
B.color
C.national origin
D.affinity orientation
When there is an acquisition, _____ means that other firms can no longer deal with the
acquired firm.
A.boycotting
B.foreclosure
C.arbitration
D.entrenchment
With reference to the agency relationship, which of the following is a duty of a
principal to an agent?
A.Duty to obey
B.Duty to account
C.Duty of good conduct
D.Duty to indemnify
_____ are also known as quasi contracts.
A.Contracts implied in law
B.Unenforceable contracts
C.Contracts implied in facts
D.Voidable contracts
In either an upstream or downstream merger:
A.the ownership of the competitors change.
B.the number of competitors increase.
C.the market share of the purchaser decreases.
D.the anticompetitive effects are not apparent.
Which of the following is a requirement for a tort to be considered as defamation?
A.The negative statement must be presented as an opinion.
B.The negative statement should be true.
C.The negative statements can be about an individual’s property, animals or business.
D.Defamation can be accomplished through either slander or libel.
Which of the following domain names is still restricted?
A..com
B..net
C..mil
D..org
According to which of the following acts, decoding an encryption device placed on
copyrighted material is a federal violation?
A.Digital Millennium Copyright Act
B.No Electronic Theft Act
C.Regulatory Flexibility Act
D.Electronic Communications Privacy Act
Which of the following statements is true for unfair labor practices?
A.It is not an unfair labor practice for an employer to totally go out of business even if
the reason is anti-union animus.
B.If the reason is to discourage unions, an employer going totally out of business, can
close only one part of its business.
C.If employers with at least 500 employees have a massive layoff, they are required by
law to give the employees at least 60 days notice.
D.Actual interference by an employer has to be proved in order for it to be considered
an unfair labor practice.
Personal property to which an owner has relinquished all right and title and which is not
given to someone through a validly executed will has been _____.
A.mislaid
B.abandoned
C.lost
D.bequeathed
If the surety is forced to pay off the creditor, the surety steps into the shoes of the
creditor. This is called _____ and confers upon the surety all the rights the creditor has
against the debtor.
A.reimbursement
B.exoneration
C.contribution
D.subrogation
In the case of a third party contract, if the principal is _____ the agent is not a party to
the contract.
A.fully disclosed
B.partially disclosed
C.unidentified
D.undisclosed
Which of the following is true regarding summary jury trial?
A.Lawyers for both sides assemble a panel of a neutral advisors and high-ranking
business executives with settlement authority from each business.
B.This method involves selecting a small jury just as a regular jury without telling them
that their decision is not binding.
C.It involves assembling ordinary citizens and then asking them to act like a jury.
D.This mechanism is used by administrative agencies wishing to avoid protracted
litigation with interested groups over regulations which the agency wants to issue.
Which of the following domain names is unrestricted?
A..mil
B..net
C..edu
D..gov
Which of the following statements is true regarding reimbursement?
A.The surety has no right to reimbursement until he actually pays the creditor.
B.The surety’s right to reimbursement is against the creditor.
C.The right to reimbursement arises only when the surety has paid more than her share
of the debt.
D.The right to reimbursement confers upon the surety all the rights the creditor has
against the debtor.
According to the _____ theory of jurisprudence, actual experience is the key to
determining what law should be.
A.legal realism
B.natural law
C.sociological theory
D.legal positivism
Each federal agency’s own internal rules and regulations are set forth in its
administrative regulations published in the _____.
A.Code of Federal Regulations
B.Congressional Directory
C.Code of Special transactions
D.Uniform Commercial Code
Executive Order 11246 prohibits those who contract to provide the federal government
with goods or services worth _____ or more from discriminating in the workplace on
the same bases as Title VII.
A.$5,000
B.$10,000
C.$15,000
D.$20,000
The practice of selling below cost for the purpose of eliminating competition is called:
A.group boycotting.
B.predatory pricing.
C.price skimming.
D.price gouging.
Which of the following Amendments ensures our right to bail?
A.The Fourth Amendment
B.The Fifth Amendment
C.The Seventh Amendment
D.The Eighth Amendment
Under the ____, unions can now be subject to unfair labor practices for engaging in
activity that overstepped their role as employee representatives.
A.Wagner Act
B.Norris-LaGuardia Act
C.Landrum-Griffin Act
D.Taft-Hartley Act
Management unfair labor practices were introduced by:
A.The Taft-Hartley Act.
B.The Wagner Act.
C.The Norris-LaGuardia Act.
D.The Landrum-Griffin Act.
Which of the following best represents an illegal pyramid scheme?
A.Embezzlement
B.Window dressing
C.Insider trading
D.Ponzi scheme
GenX Mobiles’ most popular product is their 3G smart phone called “Sphinx.” They
recently launched a new series of MP3 players; but the product failed to garner the
desired market share. GenX then decided to tie the sales of the MP3 player to “Sphinx”.
This marketing strategy used by GenX Mobiles would be a violation of the:
A.Federal Trade Commission Act.
B.Robinson-Patman Act.
C.Clayton Act.
D.Sherman Antitrust Act.
Arrangements whereby dealers agree to resell the product only within specified
territories and to solicit business only from specified classes of customers are:
A.subject to per se violations.
B.subject to the rule of reason.
C.found to be anticompetitive.
D.found to be inherently unreasonable.
What are torts?
A.Quasi contracts
B.Violations of law that are civil in nature
C.Optional contracts
D.Violations of law that are criminal in nature
Management’s Discussion and Analysis (MD&A) is often the most important disclosure
item in the annual report.
If a corporation is holding an annual meeting for the purpose of voting on a board of
directors, Rule 14 requires that the proxy be accompanied by a(n) _____ containing
financial information on the corporation.
A.annual report
B.statement of information
C.registration statement
D.red herring prospectus
The public gets _____ days to comment, after which the final Environmental Impact
Statement is reported upon.
A.60
B.45
C.15
D.30
The court ordered Telpix Corporation to promote one woman for every man promoted
until the percentage of women in the managerial ranks reflects their availability for such
positions in the workforce drawn from. As a result, the men who were in line for
promotion felt that they were being discriminated against because they must now wait
longer to be promoted. These men are most likely to bring a suit alleging ___.
A.affirmative action
B.disparate treatment
C.disparate impact
D.reverse discrimination
Which of the following is the primary function of a trial court?
A.To find facts
B.To decide whether the court of appeal applied the correct law
C.To be the final authority on legal interpretations
D.To hear those cases in which different court divisions have applied conflicting laws
The Ambassador of the _____ serves as the vice chairman of the Oversees Private
Investment Corporation (OPIC).
A.Office of U.S. Trade Representative
B.International Trade Administration (ITA)
C.Bureau of Industry and Security
D.International Trade Commission (ITC)
A mislaid property is a personal property:
A.that is acquired by someone through a validly executed will.
B.that has been placed somewhere by the owner or rightful possessor and he or she has
forgotten where the property is located.
C.to which an owner has relinquished all right and title has been abandoned.
D.that the owner has accidentally allowed to leave his or her possession and control.
What are quasi contracts? Explain with the help of an example.
Explain the terms grand jury and arrest warrant.
List the exceptions to Title VII.
Discuss the duties and the responsibilities of the Office of the U.S. Trade
Representative (USTR).
Explain the terms general agent and special agent.
Why is the knowledge of administrative law important?
Discuss the difference between a surety and a guarantor.
Discuss franchising.
What are the four requirements that must be fulfilled to prove negligence?
Discuss the various defenses available to a surety.
Explain the following ethical theories, utilitarian approach and categorical imperative.
What is a trademark?
What are the various advantages of Chapter 13 bankruptcy?
Explain the duty of fair representation.
What is eminent domain?