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Under the modern traditional theory, the sovereign may nationalize foreign-owned
property only where:
a. It is for a public purpose.
b. The foreign firm that owned the property was operating it unprofitably.
c. A communist government takes over the country.
d. The foreign firm has continuously violated the laws of the host country.
Answer:
If an agent sells a line of American-made children's toys to a European toy store chain
and it is later discovered that the toys are dangerous to children, the agent is not held
accountable because this is an example of:
a. product liability.
b. just cause.
c. a commission.
d. None of the above.
Answer:
Under GATT, an exception from the national treatment provision is granted to allow
governments to favor domestic suppliers.
a. True
b. False
Answer:
Inspection certificates are often used to assure that a shipment will conform to the
specifications required by the buyer.
a. True
b. False
Answer:
Answer:
The EU's structure consists of:
a. Council of Ministers.
b. Court of Justice.
c. Parliament.
d. B and C only.
e. A, B, & C.
Answer:
The first bill passed by the U.S. Congress defining the legal liability of an ocean carrier
for the care of its cargo was the following:
a. The Hague Rules.
b. The Uniform Commercial Code.
c. The Convention on the International Sale of Goods.
d. The Harter Act.
Answer:
The trend for regional economic integration is apparent worldwide.
a. True
b. False
Answer:
A states to B, "Within the next month, I will be placing an order for 100 Model A
computers, so please give me your best price." B replies, "I will sell you this model
computer for $500 each." A enters into a contract to sell the computers to C for a profit.
Three weeks later, B refuses to sell the computers to A. Under the CISG:
a. B will win because the contract was not in writing.
b. B will win because of the mirror image rule.
c. A will win because B's reply was a firm offer.
d. A will win because B had accepted unconditionally.
Answer:
If the International Trade Commission reaches an affirmative decision in an escape
clause action, workers, firms, and communities may be eligible for federal adjustment
assistance.
a. True
b. False
Answer:
The government agency responsible for prosecuting violators of the FCPA is:
a. Department of International Judicial Review.
b. SEC
c. Department of Justice.
d. b and c.
Answer:
In an arbitration agreement, the parties may choose to restrict the arbitrator's powers or
let the arbitrator decide what is equitable and good.
a. True
b. False
Answer:
Both the Berne Convention and the Paris Convention require signatory countries to
enact certain minimum substantive laws.
a. True
b. False
Answer:
In smaller countries, there tends to be a relatively lower tolerance for market
domination.
a. True
b. False
Answer:
In the United States, employers under the "at will" employment relationship can
terminate employees without cause.
a. True
b. False
Answer:
The FCPA prohibits U.S. firms from paying bribes to:
a. Foreign competitors.
b. Purchasing agents of foreign firms with whom U.S. firms do business.
c. Foreign government officials.
d. The clerk in a telephone office in Paris who is trying to place an overseas call for
you.
e. Two of the above.
Answer:
Traditionally, Chinese unions have differed from Western-style unions because:
a. union officials are often members of management as well.
b. their purpose is to avoid labor unrest, not to advocate for the interests of the workers.
c. members to not have the right to strike.
d. All of the above.
Answer:
The General Court was established to reduce the workload of the European Court of
Justice. Its jurisdiction is limited to:
a. Appeals of the Commission's decisions on mergers and acquisitions.
b. Hearing cases between EU institutions and their employers.
c. Appeals related to penalties imposed for Non-European Community companies'
price-fixing.
d. All of the above.
e. A and C only.
Answer:
In 1949, NATO's COCOM was created:
a. To aid Europe's economic recovery after WWII.
b. To control the exporting of goods with military applications to communist countries.
c. To prevent the escalation of the Cold War.
d. To provide U.S. manufacturers with fairer trading opportunities outside the U.S.
Answer:
The three forms of international business are exporting, importing, and licensing.
a. True
b. False
Answer:
The illegal placement of goods or commodities in the hands of an individual for whom
an export license would be denied is known as:
a. Conversion.
b. Delusion.
c. Derision.
d. None of the above.
Answer:
