1) The World Intellectual Property Organization is responsible for administering the
Paris and Berne Conventions.
2) Parties with secondary liability to an instrument can only be sought after the
instrument has been dishonored.
3) Any reference to some other agreements in a note would make it non-negotiable.
4) The Board of Governors is the highest authority of the IMF.
5) The Patent Cooperation Treaty establishes an international mechanism that allows
inventors to make a single application for patent protection that is equivalent to making
a filing in all member states.
6) The Anti-dumping Code prohibits dumping.
7) Transactions involving auction sales come under the purview of the CISG.
8) Selling exported goods at prices below their normal value is called subsidizing.
9) The act of state doctrine is the traditional device used by courts to determine the
choice of law.
10) Dispute settlements related to GATS are governed by the Fact-Finding and
Conciliation Commission on Freedom of Association.
11) Under an ex works contract, a seller is obliged only to deliver the goods at his own
place of business.
12) Cross-licensing agreements that involve any territorial restraint with respect to the
manufacture, use, or marketing of goods are invalid.
13) Which of the following would be categorized under the product approach of
regulating pollution?
A. protecting the coral reefs
B. controlling the emission of greenhouse gases
C. cleaning up oil spills
D. promoting the peaceful use of atomic energy
14) The ________ defines the measures that WTO member states may take to protect
the life and health of humans, animals, and plants.
A. Anti-Dumping Code
B. Agreement on the Application of Sanitary and Phytosanitary Measures
C. Agreement on Technical Barriers to Trade
D. Agreement on Preshipment Inspection
15) Which of the following is true of maritime liens?
A. They attach to the res and travel with it
B. They require possession in both common law and civil law countries
C. In civil law countries, the owner is not essential to the existence of a lien against a
ship
D. If a vessel is sold, the lien does not go with the ship, if the new owner is unaware of
its existence
16) Depriving a person or company of private property without compensation is called
________.
A. expropriation
B. nationalization
C. privatization
D. municipalization
17) Which of the following terms refers to the creative effort invested by an author in
raw materials that gives them a new quality or character?
A. literary appropriation
B. plagiarism
C. originality
D. phishing
18) Total loss of cargo is governed by a ________ in a maritime insurance policy.
A. loss payable clause
B. Himalaya Clause
C. constructive loss clause
D. loss payee clause
19) Together with the UN Economic and Social Council (ECOSOC), the Governing
Body established in 1950 a nine-member Fact-Finding and Conciliation Commission to
________.
A. analyze submissions of cases involving unratified treaties
B. create summaries of the information contained in the member states reports
C. consider complaints involving violations of the two freedom of association
conventions
D. make a list of member states that have defaulted on their obligations to the ILO
20) Which of the following is true regarding an uncertificated security?
A. A registered security is a type of an uncertificated security
B. Its ownership is recorded only on the books of the issuer
C. It is dealt in on securities exchanges
D. Most developed countries prevent companies from using uncertificated certificates
21) According to the objections of ________, a state may bring a complaint in an
international tribunal on behalf of one of its own nationals but it may not do so on
behalf of any other person.
A. lack of standing
B. lack of nationality
C. lack of a genuine link,
D. failure to exhaust remedies
22) The ________ is an intergovernmental organization, headquartered in Basel, which
functions as a bank for the worlds central banks.
A. International Monetary Fund
B. World Bank
C. Bank for International Settlements
D. World Trade Organization
23) A(n) ________ clause is a contractual provision that says that the price will be
adjusted according to the inflation rate.
A. stabilization
B. indemnification
C. force majeure
D. maintenance of value
24) Which of the following doctrines excuses an injured claimant who can show that a
product was defective when it left the hands of the defendant from having to prove that
the defendant caused the defect?
A. the Mackay doctrine
B. the doctrine of negligence per se
C. the doctrine of privity
D. the doctrine of res ipsa loquitur
25) Which of the following best describes a claused bill of lading?
A. It is a bill of lading that is negotiable
B. It is a bill of lading issued to a named consignee that is not negotiable
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 indicating that the goods have been properly loaded on board the
carriers ship
26) The common law of Europe is called the ________.
A. lex mercatoria
B. jus commune
C. jus cogens
D. Sharia
27) Which of the following is true of the United States Overseas Private Investment
Corporation (OPIC)?
A. It is run by the Agency for International Development
B. It is an example of a private insurer of companies
C. It functions both as a bank and insurer
D. It does not provide expropriation coverage
28) Only countries that are parties to the Climate Change Convention or the ________
are eligible to receive funds from the Global Environment Facility (GEF).
A. Basel Convention
B. Convention on Biological Diversity
C. Kyoto Protocol
D. Bretton Woods Conference
29) Which of the following is a similarity between a national multinational enterprise
and an international multinational enterprise?
A. Both of them use subsidiaries
B. Both of them have more than one parent company
C. Both of them only have one parent-state
D. Both of them dont use branches
30) The ________ holds that the legal existence of a state or government happens
automatically by operation of law.
A. doctrine of transformation
B. declaratory doctrine
C. constitutive doctrine
D. doctrine of incorporation
31) Which of the following definitions describes an endorsee of a note?
A. a person who endorses a bill or note as a guarantor
B. a person to whom a bill or note is to be paid
C. a person who receives an endorsed note from an endorser
D. a payee who has endorsed and delivered a note to an endorser
32) Acquisition by a state of property previously held by private persons or companies,
usually in exchange for some consideration is called ________.
A. expropriation
B. nationalization
C. privatization
D. municipalization
33) Which of the following acts forbids monopolies and attempts to monopolize
commerce or trade either between the states of the United States or in international
commerce affecting the United States?
A. Section 2 of the Sherman Act
B. Section 2(a) of the Robinson-Patman Act
C. Section 4 of the Clayton Act
D. Section 7 of the Clayton Act
34) A bearer paper is different from an order paper in that a bearer paper ________.
A. cannot be negotiated
B. is negotiated by endorsement and delivery
C. is negotiated by delivery alone
D. is negotiated by endorsement alone
35) Which of the following was a function of the International Monetary Fund?
A. It ensured monetary stability and facilitated currency exchange
B. It assisted war-ravaged and developing countries to reconstruct or upgrade their
economies
C. It administered a comprehensive code governing the conduct of world trade
D. It discouraged trade discrimination
36) A ________ is a mark or symbol used to identify a manufacturer or merchant.
A. trade name
B. copyright
C. certification mark
D. patent
37) The ________ is a provision in a contract designating the state whose law will
govern disputes relating to the contract.
A. escape clause
B. omnibus clause
C. choice of law clause
D. forum selection clause
38) What are the responsibilities of the World Trade Organization?
39) Describe the standby arrangement facility provided by the IMF.
40) Discuss the two approaches used internationally to regulate pollution.
41) What is the purpose of a maritime lien?
42) Apart from the long arm statute, what other criteria must a claimant fulfill in order
to establish personal jurisdiction requirements of U.S. products liability laws?
43) How is sales defined in the CISG?