The right of an employee to pension benefits paid into a pension plan in the employee’s
name by the employer is referred to by the term:
a. venue.
b. accrual.
c. vesting.
d. investing.
An incontestability clause ordinarily bars contest of the validity of a life insurance
policy by the insurer after the lapse of:
a. sixty (60) days.
b. one (1) year.
c. two (2) years.
d. ninety (90) days.
In a partnership of four physicians, a decision to buy an office copier for the partnership
must be approved by:
a. all of the partners.
b. at least three of the partners.
c. at least two of the partners.
d. one partner.
Which of the following is not a correct statement concerning wills?
a. Attestation is the act of witnessing the execution of a will.
b. Most states require two (2) witnesses to the execution of the will.
c. A will must be dated.
d. Self-proved wills are wills that carry a presumption that they are valid if executed
according to the requirements set forth by statute.
Hostile work environment sexual harassment:
a. cannot be created by unwelcome sexual flirtation and propositions.
b. cannot result in an injunction being granted against offensive conduct.
c. occurs when a supervisor€s conduct does not affect an employee€s economic
benefits, but causes anxiety and €poisons€ the work environment for the employee.
d. can result in the court ordering the business to be sold, upon proper notice, at a
publicly-held auction.
A limited liability partnership must include which of the following terms in its name?
a. LLP
b. limited liability partnership
c. either a. or b.
d. neither a. nor b.
Workers€ compensation statutes do not typically provide for:
a. immediate medical benefits.
b. prompt periodic wage replacement.
c. a death benefit.
d. punitive damages.
The employer of a salesperson:
a. is only bound by a contract if the employee is acting as a soliciting agent.
b. is not bound by a contract if the employee is acting as a contracting agent.
c. is not bound by a contract until the contract is accepted.
d. is always bound by contracts made by all employee salespersons.
A provision in a residential lease excusing a landlord from liability for damage caused
by water, snow, or ice is __________.
a. enforceable
b. enforceable, but only in those areas of the United States that are unusually exposed to
adverse weather conditions
c. void
d. voidable
What is the principal law regulating equal employment opportunity in the United
States?
a. Title VII of the Civil Rights Act of 1964
b. The United States Constitution
c. The Fair Labor Standards Act
d. The Equal Pay Act
In mediation, the mediator acts as a:
a. judge.
b. attorney.
c. messenger.
d. expert witness.
When there is no consideration for a promise, the agreement is:
a. a quasi contract.
b. equitable.
c. not binding.
d. unethical.
Which of the following powers is not reserved solely to the national government?
a. power to regulate interstate commerce
b. power to tax
c. power to coin money
d. power to borrow money on the credit of the United States
Which of the following is a possible remedy for a nuisance?
a. termination by police authority
b. injunction
c. money damages
d. all of the above
Morris issued a check to Al in payment of a debt. There were sufficient funds in Morris’
account to cover the check when it was presented for payment. However, due to an
error, the bank dishonored the check. Which of the following parties is/are potentially
liable to the holder?
a. the drawee bank only
b. Morris and the drawee bank
c. Morris only
d. the drawee bank and any collecting bank
Which of the following terms would make an instrument nonnegotiable?
a. It is dependent upon an event.
b. It is undated.
c. It is payable in foreign money.
d. It gives the holder the right to receive interest.
“Superfund” is a creation of which of the following?
a. the Comprehensive Environmental Response, Compensation, and Liability Act
(CERCLA)
b. the Occupational Safety and Health Administration (OSHA)
c. the National Environmental Policy Act (NEPA)
d. the Environmental Protection Agency (EPA)
When large-size enterprises plan to merge, they must give written notice to the
Interstate Commerce Commission.
An assignee’s rights are the same as those that had been possessed by the assignor.
If an offer is indefinite or vague, no contract arises from an attempt to accept it.
Blocking laws prohibit the disclosure, copying, inspection, or removal of documents
located in the enacting country in compliance with orders from foreign authorities.
Companywide standardized form contracts imposed on a €take-it-or-leave it€ basis
by a party with superior bargaining strength are called contracts of collusion.
Strict liability is one type of tort.
If there is a joint venture, the fault or negligence of one venturer will not be imputed to
the other venturers.
Maintaining confidentiality is an ethical issue for both employees and company
management.
Whether there has been a waiver is a question of fact.