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1) The United Nations Framework Convention on Climate Change (UNFCCC) was
adopted at the Stockholm Declaration.
2) A companys service office in a host nation would be considered a branch of the
company.
3) The IMF was created immediately after the collapse of the gold standard system.
4) Notes that are secured by personal property are referred to as collateral notes.
5) The GATS covers trade-related aspects of intellectual property rights.
6) Res is a charge or claim against a vessel, its freight, or its cargo.
7) In a promissory note, the party who promises to pay is called the payee.
8) The only developed Annex I country to indicate that it is not a party to the Kyoto
Protocol is the United States.
9) An exclusive license is a license that restricts who may compete with the licensee.
10) Student visas do not come under the Visa Waiver Program in the United States.
11) Incoterms are trade terms published by the International Chamber of Commerce.
12) The 1982 United Nations Convention on the Law of the Sea demands that states
monitor and assess the risks and effects of pollution and publish the results of those
studies.
13) The Rome Statute is binding only on those states that formally express their consent
to be bound by its provisions.
14) Offers that do not state that they are irrevocable can be revoked any time before the
offeree dispatches an acceptance.
15) All nongovernmental organizations are nonprofit organizations.
16) Once a foreign-owned enterprise is in full operation, it is usually subject to periodic
monitoring.
17) An international multinational enterprise consists of a single parent company that
operates in foreign markets through independent agents.
18) The General Assembly is an organ of the United Nations.
19) Liability on the instrument for drawers, endorsers, and accommodation endorsers is
primary.
20) Customary international law is applicable domestically only after it is adopted by
legislation, court decision, or local usage. This is called the ________.
A. constitutive doctrine
B. declaratory doctrine
C. doctrine of transformation
D. doctrine of incorporation
21) Which of the following cases is most likely to be dismissed at the International
Court of Justice (ICJ) because of lack of standing?
A. the country of Tihisi representing a national from the country of Jambia as a plaintiff
at the ICJ
B. the Fonston Corporation being the plaintiff for a case brought to the ICJ
C. James being represented by his country, Inkland, at the ICJ
D. the Hindalu Corporation exhausting all local remedies before contacting their
parent-country to represent them at the ICJ
22) The common commercial rules and procedures used throughout Europe in the
Renaissance are known as the ________.
A. Sharia
B. jus cogens
C. jus commune
D. lex mercatoria
23) Which of the following is the way in which the IMFs SDR helps in controlling
currency fluctuation?
A. by acting as a basket currency in foreign exchange transactions
B. by substituting as an international currency
C. by imposing nonconvertibility from currency to gold and vice versa
D. by allowing a currency's value to fluctuate according to the foreign exchange market
24) The personal rights of authors to prohibit others from tampering with their works
are called ________.
A. moral rights
B. neighboring rights
C. property rights
D. rights of priority
25) Visas are different from passports in that visas _______.
A. cannot be obtained after entering the host nation
B. are limited by time
C. are issued by the host nation
D. cannot be used to acquire nationalization
26) The ________ doctrine states that courts should apply the law of the state that has
the closest and most real connection with the dispute.
A. act of state
B. vested rights
C. most significant relationship
D. governmental interest
27) Both the common law and the ULB specify that ________.
A. the amount in the instrument can be paid in installments
B. the sum paid for the negotiable instrument must be money
C. the amount to be paid in an instrument is subject to variable interest rates
D. the instrument need not be signed to be considered negotiable
28) The ________ establishes a hierarchy among lien claims.
A. Brussels Convention
B. Warsaw Convention
C. Rome Convention
D. Montreal Convention
29) Which of the following definitions describes an accommodation party of a bill or a
note?
A. a person who receives an endorsed bill or note from an endorser
B. a person who endorses a bill or note as a guarantor of an endorsee
C. a person who signs a bill or note as a surety and comaker
D. a person who signs a bill or note to lend his or her credit to another party
30) The subjective intent approach differs from the objective intent approach in that the
subjective intent approach _______.
A. tries to interpret the conduct of the parties involved
B. tries to interpret the intent of the parties involved
C. is considered an inferior form of interpretation
D. is only used when objective intent cannot be interpreted
31) The Robinson-Patman Act of 1936 was added to the panoply of American anti-trust
law to make ________ illegal.
A. anticompetitive mergers
B. tying arrangements
C. monopolization
D. price discrimination
32) A person who is ________ is most likely to seek a permanent visa from the host
nation.
A. studying as an exchange student
B. officially representing another country
C. visiting a country as a tourist
D. applying for nationalization
33) ________ refers to a series of administrative acts that in combination result in
depriving persons of their property.
A. Creeping expropriation
B. Laches
C. Arraignment
D. Accommodation
34) The ________ is a GATT scheme that allows developing states to grant tariff
preferences to each other without having to grant them to developed states.
A. National treatment rule
B. Generalized System of Preferences
C. South-South Preferences
D. Escape clause
35) Which of the following is the reason why alter ego companies come under the
purview of piercing the company veil?
A. because the company has no decision-making power independent of its parent
company
B. because the company had insufficient capital when being formed
C. because the shareholders use company assets for personal benefit
D. because the shareholders of that company assumes personal liability
36) In which of the following contracts is the delivery delayed, though the commodity
is sold and paid for?
A. a forward contract
B. an option contract
C. a spot contract
D. a future contract
37) Which of the following is governed by GATS?
A. trade-related aspects of intellectual property rights
B. trade in goods
C. temporary services rendered by laborers
D. laws governing the permanent employment of natural persons
38) The ________ was issued by the United Nations Conference on the Environment
and Development and it linked protection of the environment and development as
related goals.
A. UN charter
B. Rio Declaration
C. Bonn Agreement
D. Kyoto Protocol
39) Distinguish between customs union and free trade area.
40) Rules used by municipal courts to determine which states law they should apply in
hearing a civil dispute are called ________.
A. the rules of reciprocity
B. choice of law rules
C. the rules of absolute sovereign immunity
D. vested rights rules
41) Which of the following describes the relief of restitution in kind awarded to a
plaintiff?
A. an item taken from the plaintiff is to be returned by the defendant
B. the honor of the plaintiff is to be restored by the defendant
C. money is to be paid by the defendant for the cost of the injury suffered by the
plaintiff
D. the defendant has to pay a fine to the plaintiff and the amount of the fine is decided
by the court which is generally beyond the cost of injury
42) The ________ holds that a new state coming into existence through decolonization
is under no obligation to succeed to the treaties of its former colonial power.
A. doctrine of incorporation
B. declaratory doctrine
C. Clean slate doctrine
D. constitutive doctrine
43) ________ is the process of reaching an agreement through discussion between two
parties to a dispute.
A. Inquiry
B. Mediation
C. Negotiation
D. Conciliation
44) A ________ is a contract for the licensing of industrial property rights to two or
more licensees.
A. WIPO Copyright Treaty
B. cross-licensing agreement
C. patent pool
D. multiple licensing agreement
45) Which of the following best describes direct effect?
A. It is the making of a decision by general agreement and in the absence of any voiced
objection
B. It is the relinquishment of an obligation owed by another
C. It is a principle whereby a treaty may be invoked by a private person to challenge the
actions of a state that is a party to the treaty
D. It is a principle that governments must make their rules, regulations, and practices
open and accessible to the public and other governments
46) Which of the following is a relation between the World Bank and the Global
Environment Facility (GEF)?
A. The World Bank is responsible for managing the Trust Fund of the GEF
B. The World Bank determines what projects will be funded by the GEF
C. The GEF only funds nations that are members of the World Bank
D. The GEF is considered as the primary developmental arm of the World Bank
47) What is the role of the International Development Agency (IDA) and the
International Finance Corporation (IFC) in connection with the World Bank?
48) Which of the following best describes a straight bill of lading?
A. It is a bill of lading issued to a named consignee that is not negotiable
B. It is a bill of lading indicating that the goods have been properly loaded on board the
carriers ship
C. It is a bill of lading indicating that some discrepancy exists between the goods
loaded and the goods listed on the bill
D. It is a bill of lading that is negotiable
49) Which of the following terms refers to a loss to a ship or its cargo that is not to be
shared in by contributions from all those interested, but is to be borne by the owner of
the injured thing?
A. dead freight
B. maritime lien
C. general average
D. particular average
50) ________ is a legal rule that one cannot make an allegation or denial of fact that is
contrary to ones previous actions or words.
A. Estoppel
B. Jus cogens
C. Servitude
D. Charter
51) Which of the following is the oldest type of free zone?
A. free trade area
B. free perimeter
C. free city
D. special economic zone
52) The ________ is a body of the World Bank that provides political risk insurance
guarantees to private sector investors and lenders.
A. Multilateral Investment Guaranty Agency
B. International Development Association
C. Overseas Private Investment Corporation
D. Foreign Credit Insurance Association
53) Explain any three of the main principles of GATT 1947?
54) Differentiate between in personam jurisdiction and in rem jurisdiction.
55) Discuss the use of the IMFs SDR in international transactions?
56) Write a short note on the functions and composition of the International Court of
Justice.
57) What liabilities are placed on states or person, by international conventions, for
causing environmental damage?
58) Explain the sellers remedy of avoidance of installment contracts.
59) What are the consequences of not obtaining a letter of credit?
60) How do the courts determine the members of a common enterprise?
