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An individual who participates in the original distribution of securities by selling such
securities for the issuer or by guaranteeing their sale is referred to as the:
A. seller.
B. controlling person.
C. issuer.
D. underwriter.
E. bailee.
The purpose of the Sherman Act was to:
A. legalize monopolies.
B. preserve competition.
C. create trusts.
D. restrict competition.
E. legalize trusts.
The Health Insurance Portability and Accountability Act (HIPAA) applies only to:
A. life insurance companies.
B. law enforcement agencies.
C. agencies that deliver social security and welfare benefits.
D. researchers who obtain health data directly from health care providers.
E. health insurance companies.
The _____ Amendments to the Constitution guarantee the right to a jury trial.
A. Sixth and Seventh
B. First and Twelfth
C. First and Seventh
D. Second and Fifth
E. Ninth and Fourteenth
Which of the following can ONLY apply to real property?
A. Confusion
B. Gifts
C. Accession
D. Bailments
E. Easements
_____ cases involve whether proper notice has been given and a proper hearing has
been conducted.
A. Equal protection clause
B. Contract clause
C. Exclusion clause
D. Limitation clause
E. Due process clause
Often, to provide a dress rehearsal for jury trials, attorneys argue their cases in front of
a(n) _____ on the basis of assumed facts, presenting arguments and expected evidence
to this mock jury composed of citizens.
A. arbitrator
B. barrister
C. magistrate
D. class
E. focus group
_____ is used in the context of international law as the seizure of foreign-owned
property by a government.
A. Nationalization
B. Possession
C. Power of eminent domain
D. Export Controls
E. Expropriation
The primary issue in Citizens United was the significance of:
A. the First Amendment.
B. the Seventh Amendment.
C. the Confrontation Clause.
D. the War Powers Act.
E. the Fourteenth Amendment.
Each of the following is a remedy in case of a breach of contract EXCEPT:
A. punitive damages.
B. consequential damages.
C. specific performance.
D. rescind the contract.
E. cancel the contract.
When parties agree to resolve all the matters of contention that they can and to arbitrate
the unresolved matters, they are said to be using a variation of dispute resolution known
as:
A. judicial review.
B. a focus group.
C. submission.
D. Med-Arb.
E. a caucus.
Which of the following is true about the trends in operating business organizations?
A. With the recent financial crises, public attention is moving toward management of
limited partnerships.
B. Shareholders are losing interest and are becoming less active.
C. The Dodd-Frank Act has mandated rules that prevent shareholders from including
their own board candidates in proxy materials.
D. In many cases, corporations and individuals reasonably have an equal claim to rights
and protections under the law.
E. The focus on legal liability for directors and officers is decreasing.
Kate has entered into a binding agreement to sell a house to Michael. When Michael
shows up to complete the deal as per the agreement, Kate refuses to go through with the
transaction. Which of the following best categorizes Kate and Michael's issues with
regard to classification of laws?
A. This is a public law issue regarding contract law.
B. This is a private law issue regarding contract law.
C. This is a public law issue regarding property law.
D. This is a private law issue regarding criminal law.
E. This is a public law issue regarding tort law.
An agreement between a manufacturer and a dealer that assigns the dealer or distributor
an exclusive territory, while the manufacturer agrees to supply only that dealer in the
territory is called a ______ territorial agreement.
A. vertical
B. conglomerate
C. congeneric
D. tying
E. per se
In no federal law, a state law is unconstitutional if it:
A. is in irreconcilable conflict with federal law.
B. constitutes any burden on interstate commerce.
C. discriminates against intrastate commerce in favor of interstate commerce.
D. discriminates against interstate commerce in favor of intrastate commerce.
E. is in compromising conflict with the federal law.
Brothers Wayne and Garth twins in their mid-40s, but they still live with their parents.
Finally on their 45th birthdays, they are told by their parents that they must move out
within 60 days.
A. Because they have remained on the property for over 20 years as adults, they may
remain because of their adverse possession.
B. Because they have remained on the property for over 20 years as adults, they may
remain because they have an easement by prescription.
C. Because they have remained on the property for over 20 years as adults, and have
been open and notorious, they may remain on the property based on eminent domain.
D. Because their parents have permitted them to stay in the house for over 20 years,
they must move out.
E. Because they are next of kin, they may stay in the house as potential possessors.
In a 1943 case known as Parker v. Brown, the Supreme Court created a _____
exemption to the Sherman Act.
A. military
B. personal
C. participation
D. homestead
E. state action
The Citizens United decision was met with opposition from a number of individuals
and groups concerned about:
A. the influence of legislators in the judicial process.
B. the influence of corporate money in political elections.
C. the erosion of civil liberties.
D. the influence of alcohol.
E. the corruption of voter registration laws.
The Landrum-Griffin Act is also known as the _____
A. National Labor Relations Act
B. Labor-Management Reporting and Disclosure Act
C. Railway Labor Act
D. Employment Bill of Entitlements Act
E. Federal Arbitration Act
_____ refers to the ability of an invention to produce surprising or unexpected results;
that is, results not anticipated by prior art.
A. Subject matter
B. Nonobviousness
C. Patent litigation
D. Utility
E. Obviousness
Polly secured a good grade with a 4 GPA in her admission test. However, she was
denied admission by a management school. Hence, she filed a suit that the school had
discriminated against her on the basis of race; that she was rejected because the school
used race as an important factor, giving applicants belonging to minority groups a
greater chance of admission than students with similar credentials from disfavoured
racial groups. Which of the following approaches should be applied to solve Polly's
case?
A. Minimum rationality approach
B. Strict scrutiny approach
C. Rational basis approach
D. Intermediate scrutiny approach
E. Quasi-scrutiny approach
The _____ to the Clayton Act prohibits all acquisitions in which the effect lessened
competition substantially in any line of commerce in any section of the country.
A. Bricker amendment
B. Tyler precedent
C. Wheeler-Lea amendment
D. Robinson-Patman amendment
E. Celler-Kefauver amendment
Which of the following is a risk involved with regard to the sale of U.S. strategic
products and technology abroad?
A. Import controls
B. Material controls
C. Export controls
D. Sales controls
E. Transaction controls
Environmental laws at the federal level are administered by the:
A. EPA.
B. Pollution Control Board.
C. TSCA.
D. EIS.
E. U.S. Chemical Safety and Hazard Investigation Board.
Fletcher and Co. manufactures explosives that are used for the demolition of structures.
These explosives are stored in their warehouse situated in a residential area. One day,
the warehouse catches fire, resulting in an explosion which causes widespread damage
to the life and property of the people living in that area. Fletcher and Co. are guilty of:
A. strict liability.
B. negligence.
C. trespass.
D. private nuisance.
E. public nuisance.
For mandatory arbitration to be constitutional:
A. proceedings must be bound by standard judicial tenets such as discovery.
B. licensed practitioners must preside over all proceedings.
C. all disputing parties must agree in advance to be bound by the arbitration award.
D. fair procedures must be provided by the legislature and ultimate judicial review is
available.
E. the foundational statute must have passed with a super-majority.
Ivana's car was stolen. The car needed some repairs and the thief, Donald, had the
engine replaced as well as the muffler. Donald was apprehended and the car was
returned to Ivana. Which of the following is true?
A. Ivana owns the car but Donald owns the engine and muffler.
B. Ivana owns the car but must pay Donald for the engine and muffler.
C. Donald becomes the owner of the car due to accession.
D. Ivana owns the car and owes Donald nothing.
E. Donald may sue for ownership of the car if he can show that his additions are worth
more than the car.
A statute of _____ specifies a period of time following a product sale after which a
plaintiff would lose their right to bring a law suit for product related injuries.
A. repose
B. repast
C. repentance
D. reproach
E. reform
So significant is the role of judges in the United States that they determine the meaning
of the Constitution and can declare void the legislation of Congress and the acts of the
president. This illustrates that the legal system in the U.S. is based on _____.
A. civil law
B. religious law
C. common law
D. hybrid law
E. constitutional law
In 2008, Donald gives Tony a life estate in a home that Donald owns, specifying that
upon the end of the life estate, the property is to go to Tony's son, Mike. Tony dies in
2012.
A. If Donald is still alive he may revoke the transfer to Mike and keep the property.
B. Mike gets a reversion interest in 2012.
C. Mike gets a remainder interest in 2012.
D. In 2012, Mike and Donald become joint tenants until Donald's death when Mike
becomes the sole owner.
E. The property is held in trust until Mike comes of age.
Shawn has filed for bankruptcy. However, he has not mentioned his farmhouse in
Farmington in the bankruptcy proceedings. The farmhouse has been recovered by the
mortgage firm and included in the proceedings. Which of the following is true in this
case?
A. Shawn will be held guilty for the offense of concealment.
B. Shawn can use the recovery of the estate as a defense to his concealment.
C. Shawn is guilty of larceny as he did not reveal his estate during bankruptcy
proceedings.
D. Shawn can be held guilty for counterfeiting.
E. Shawn is likely to be held not guilty since the estate was recovered and included in
the proceedings.
