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To enter another's land without consent or to remain there after being asked to leave
constitutes the tort of _____.
A. assault
B. malicious prosecution
C. battery
D. trespass
E. invasion of privacy
Sarah negotiated with her boss and works from 7:00 a.m. to 7:00 p.m., Mondays
through Thursdays, with an hour for lunch and an hour for dinner each day. On Election
Day, the polls are open from 7:00 a.m. until 7:00 p.m. and there are long lines at the
polling station. She requests permission from her boss to cast her vote and asks for an
extended lunch or dinner break. He refuses and tells her that she will be fired if she
takes extra time off. Which of the following is true?
A. The boss can fire her because her first obligation is to her job.
B. The boss can fire her because employment at will permits him to fire her for any
reason.
C. The boss cannot fire her because the Fair Labor Standards Act allows employees
leeway in the fixture of work schedules without the approval of their superiors.
D. The boss cannot fire her because he may not prohibit her from exercising a statutory
or constitutional right.
E. The boss can fire her because the company does not bear any responsibility for the
fulfillment of duties of a personal nature.
Although the Equal Credit Opportunity Act protects each of the following from
discrimination, special emphasis is aimed at preventing discrimination regarding:
A. race.
B. age.
C. sex
D. marital status.
E. religion.
Anheuser-Bush, an American corporation, and InBev, a Belgian corporation, finalized a
multibillion-dollar merger to form the largest beer company in the world.
Anheuser-Bush and InBev, prior to the merger, each sold beer in many countries around
the world, including both Belgium and the United States. This merger is best described
as a:
A. vertical merger.
B. horizontal merger.
C. conglomerate merger.
D. congeneric merger.
E. product market extension merger.
The Comprehensive Environmental Response, Compensation, and Liability Act:
A. levies punitive damages up to five times of the cleanup costs.
B. mandates notification for authorized release of hazardous substances.
C. imposes strict liability on those responsible for unauthorized discharges of hazardous
wastes.
D. supersedes international pollution control laws.
E. permits pollution within the legal limits.
Which of the following is actually intended to be used by someone other than the
owner?
A. Certification marks
B. Collective marks
C. Service marks
D. Trademarks
E. Brand marks
A(n) _____ is one who controls or is controlled by the issuer, such as a major
stockholder of a corporation.
A. seller
B. bailee
C. underwriter
D. guarantor
E. controlling person
Which of the following is considered a nondischargeable bankruptcy debt?
A. Credit card debts
B. Negligence claims
C. Medical expenses
D. Personal loans
E. Intentional torts
Sarbanes-Oxley requires that information pertaining to an insider's transaction be filed:
A. by mail, postmarked within two business days of the transaction.
B. electronically within two business days of the transaction.
C. by any effective means within 10 business days of the transaction.
D. by any effective means within 10 business days after the close of the calendar month
in which the transaction occurred.
E. electronically on the day of the transaction.
The National Mediation Board was created by the:
A. Railway Labor Act.
B. National Labor Relations Act.
C. Labor-Management Relations Act.
D. Labor Management Reporting and Disclosure Act.
E. Child Labor Act
The Federal Mediation and Conciliation Service was created to achieve the goals of the
_____.
A. Clayton Act
B. Sherman Act
C. Wagner Act
D. Taft-Hartley Act
E. Comstock Act
The _____ test is used if the classification involves either a suspect class or a
fundamental constitutional right.
A. minimum rationality
B. quasi-scrutiny
C. rational basis
D. intermediate scrutiny
E. strict scrutiny
For limited partners to retain their status of limited liability, the partnership must
evidence _____ compliance with all technical requirements of the limited partnership
law.
A. complete
B. nominal
C. minor
D. reasonable
E. substantial
Under common law, if an injury were caused by the carelessness of the employee as
well as the employer, the employee would be unable to recover damages because of the
_____ defense of the employer.
A. assumption of the risk
B. exclusive remedy rule
C. fellow-servant rule
D. contributory negligence
E. shelter rule
Under the Electronic Fund Transfer Act, for lost, stolen, or misused automatic teller and
check cards (debit cards), the customer is liable for:
A. $600 if reported after two days but before 60 days of consumer's learning of a
misuse.
B. amounts over $15 within the consumer's home state if reported within seven business
days.
C. $50 if reported within two business days of consumer's learning of a misuse.
D. amounts over $15 within a 100-mile radius of the consumer's home if reported
within seven business days.
E. nothing.
In a closely held corporation, the majority shareholders:
A. have no influence on management.
B. elect the members of the board of directors.
C. cannot be employed by the corporation.
D. have the same impact on policy as minority stockholders.
E. bring upon derivative suits on behalf of the corporation.
The _____ places constraints on how certain kinds of information collected by the
federal government can be used and limits those to whom the information may be
released.
A. Fair Credit Reporting Act
B. Fair Debt Collection Practices Act
C. Right to Financial Privacy Act
D. Electronic Communications Privacy Act
E. Privacy Act
Acme Corporation is being sued by Howard Bank for $50,000 borrowed by Samantha,
the Chief Financial Officer of Acme. Acme had granted a written authority to Samantha
to borrow only $50,000. However, a week later, Samantha resigns from the company,
and in the name of Acme, borrows an additional $50,000 for personal reasons. If Acme
denies the liability of this debt and files a lawsuit against Samantha, which of the
following is most likely to be the court's decision?
A. Acme will be excused from the liability based upon the fact that it had authorized
Samantha only for $50,000.
B. Acme will be excused from the liability based upon the fact that Samantha was not
an agent for Acme.
C. Samantha was not granted authority by Acme to enter into this specific transaction,
hence Samantha will be held liable for a tort.
D. Samantha will be liable to pay the debt, since she did not take the loan for the benefit
of the company.
E. Acme will have to pay the debt as it allowed Samantha to have apparent authority to
borrow the additional amount.
By express language or by comprehensive regulation, Congress shows that it intends to
exercise exclusive control over a particular subject matter. This doctrine of interpreting
regulation is known as _____.
A. executive privilege
B. separation of powers
C. nondelegation
D. federal preemption
E. concurrent powers
Contract law:
A. enables an owner to exchange resources, especially at a future date.
B. compensates owners whose resources are wrongfully harmed by the actions of
others.
C. punishes those who harm an owner's resources in particular ways.
D. identifies how individuals can own and use private resources in groups.
E. protects ownership and sets limits on private resource use.
The International Court of Justice:
A. is made up of nine judges.
B. allows all nations to initiate a case before it.
C. hears cases of countries that have submitted to the Court's jurisdiction.
D. can render opinions only when faced with an actual case.
E. has been a major force in settling disputes since it began functioning.
The "one-year rule" applies to _____ law.
A. trademark
B. patent
C. copyright
D. trade secret
E. collective mark
The Financial Stability Oversight Council was established by the:
A. Securities Exchange Act of 1934.
B. Sherman Antitrust Act of 1890.
C. Sarbanes-Oxley Act of 2002.
D. Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.
E. Securities Act of 1933.
Which of the following statements holds true for the collective bargaining process of
the National Mediation Board?
A. A period of six months is stipulated for a special emergency board to make
recommendations for settlement.
B. It prohibits voluntary arbitration.
C. The special emergency board appointed by the NMB cannot issue judicial
injunctions.
D. It is mandatory for parties to comply with a special emergency board's proposals.
E. It considers lockouts by management and strikes by workers illegal.
Which of the following is true of a foreign subsidiary?
A. A foreign subsidiary has fewer formalities in its creation and operation.
B. A foreign subsidiary allows the parent company to have greater control.
C. A foreign subsidiary is one of the cost-effective ways to expand business in foreign
markets.
D. A foreign subsidiary must be a national of the host country.
E. A foreign subsidiary is a risk-free alternative that most corporations adopt for global
expansion.
Which of the following is true of the double jeopardy clause?
A. It states that a person can be tried twice for the same offense under criminal and civil
law.
B. It states that a person cannot be tried twice even if the same crime violates both
federal and the state laws.
C. It states that a federal and state governmental prosecutor cannot cooperate for one
conviction.
D. It states that if the factual evidence is the same, an individual can be tried twice
under different sections of law.
E. It states that if an illegal activity violates both federal and state laws, an individual
can be tried twice.
Two or more individuals, an individual and a corporation, a partnership and a
corporation, or any combination of these entities may agree to create a(n):
A. sole proprietorship.
B. partnership.
C. corporation.
D. S corporation.
E. limited liability company.
Which of the following was established by the Noerr-Pennington doctrine?
A. Concerted efforts to lobby government officials, regardless of the anticompetitive
purposes of the lobbying effort are exempt from the provisions of the Sherman Act.
B. When a state acts in its sovereign capacity, it is immune from federal antitrust
scrutiny.
C. Price fixing is illegal whether the parties to it have control of the market or not and
whether or not they are trying to raise or lower the market price.
D. Resale price maintenance is legal only if there is no coercion or pressure other than
the announced policy and its implementation.
E. Conduct directed at price stabilization is per se anticompetitive.
Which of the following is true of the Sherman Act?
A. The Sherman Act applies only to the sale of goods.
B. Price fixing in the service sector is permitted under the Sherman Act.
C. Maximum-price agreements are illegal, while minimum-price agreements are not.
D. The Sherman Act covers services, including those performed by the learned
professions.
E. An action is not considered to be price fixing if the prices fixed are fair or
reasonable.
Which of the following is a major institution of the European Union?
A. The Secretary Council
B. The International Court of Justice
C. The Council of Members
D. The House of Representatives
E. The Council of Ministers
_____ must be obtained by the police prior to a search of a person, any premises, or
other property such as the trunk of an automobile.
A. Evidence authorizations
B. Seizure orders
C. Charging orders
D. Court-authorizations
E. Search warrants
If the employee's tips combined with the cash wage do not meet the minimum hourly
wage:
A. the employee is entitled to work for a reduced number of hours.
B. the employer must make up the difference (with certain conditions).
C. the federal government along with the employer must make up the difference.
D. the employee is entitled to be paid for the inconvenience caused along with the
difference (with certain conditions).
E. the employer is not liable to pay the difference if he/she reduces the number of
working hours for the employee.
If the defendant does not respond to the complaint as required he or she is said to be in
_____.
A. complaint.
B. interrogatory.
C. discovery.
D. voir dire.
E. default.
Which of the following statements holds true for a local union?
A. It must observe the international union's constitution and bylaws.
B. It can disregard national bylaws if the local membership has an election and votes to
do so.
C. It is bound by international bylaws only if the unanimous approves.
D. It cannot be sued by anyone except the national union of which it is a part.
E. All of these.
In 1994, the Uruguay Round incorporated all of the following principles from the
General Agreement on Tariffs and Trades except:
A. equalization of import quotas.
B. national treatment.
C. non-discrimination.
D. elimination of trade barriers.
E. reducing tariffs.
