ETH321T Week 3 Apply Exercise SCORE 78 PERCENT

Penny is seen organizing racks at a local clothing store one day while she shops, and the manager offers her a job. The next day, Penny's boss from the clothing store across the street comes in and accuses the manager of trying to interfere with Penny's non-competition agreement. Which of the following is true?
•    The manager is interfering with Penny's business relationship with her boss.
•    The manager has done nothing wrong because non-competition agreements are never used in clothing retail.
•    The manager has committed legitimate interference with a contractual relationship
•    The manager has done nothing wrong.

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Which crime is BEST represented by the following situation?
Jeff decides that it is time to clean up his act and stop manufacturing bong pipes in his basement. He uses $15,000 from bong pipe sales to open a children's toy store. The next day, the police bust Jeff for his sale of drug paraphernalia.
•    Robbery
•    Embezzlement
•    Larceny
•    Money Laundering

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Rebekah unknowingly grows illegal marijuana plants in her garden, assuming they are just weeds. If Rebekah is discovered growing the marijuana, strict liability would infer that:
•    Rebekah is liable only if she was found to be negligent in not recognizing the marijuana
•    Rebekah is liable even though she had no illegalintent
•    Rebekah is not liable because she had no illegal intent
•    Rebekah is not liable if someone else was witnessed planting the marijuana

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Which of the following situations would not substantiate a tort claim of infliction of emotional distress?
•    Offensive behavior when a person is feeling especially vulnerable
•    Behavior that a reasonable person would find distasteful
•    Repetitive offensive behavior
•    Offensive behavior when a duty of care is owed

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Eduardo is working his way up the ladder in the world of amateur boxing. He makes a stinging remark about his next opponent on TV by saying that his opponent is a coward who probably practices boxing by beating up his wife. Which of the following is true?
•    Eduardo is not being defamatory because his remarks are statements of opinion only.
•    Eduardo is being defamatory because his remarks may harm his opponent's reputation.
•    Eduardo is not being defamatory because it is obvious that the statement must be false.
•    Eduardo is being defamatory because the information he published is true.

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Eleanor often borrows her roommate's car because she does not have one of her own. One day, Eleanor goes on a joy ride on rocky terrain and gets a flat tire. Eleanor refuses to replace the tire because she does not own the car. Which of the following is true?
•    Eleanor may be held liable under a tort because roommates have a legal expectation of compensation for damaged possessions.
•    Because Eleanor does not own the car, she has not committed a tort
•    Because Eleanor had permission to use the car, she has not committed a tort
•    Eleanor may be held liable under a tort because the owner can no longer use the car

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Which crime is BEST represented by the following situation?
Dagan sneaks into an event center through an unlocked window to steal valuable items on display for an event the next day.
•    Fraud
•    Larceny
•    Burglary
•    Conspiracy

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What type of crime is petty theft?
•    Felony
•    Misdemeanor
•    Infraction
•    Capital Crime

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Amanda is babysitting when her charge Tomas leaps off a couch onto a glass table and breaks it, leaving him with many cuts. To show that Amanda was negligent, Tomas's parents must show that:
•    Amanda owed a duty of care to Tomas
•    Amanda breached her duty of watching over Tomas by her actions (e.g., talking on the phone or not staying in the same room as Tomas)
•    Tomas was harmed only because Amanda breached her duty to watch over him
•    All of the above

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What type of crime is money laundering?
•    Capital Crime
•    Felony
•    Misdemeanor
•    Infraction

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While on a hike with a tour group in the mountains, Derek gets mauled by a bear. No previous reports of bears in the area had been made.  Derek wants to hold the tour company liable for his injury. Which of the following is most likely true?
•    Because most people would not expect something as dangerous as a bear encounter while on a hike, an assumption of risk defense will probably not protect the tour company.
•    Because hiking is known to have some elements of danger, Derek assumed the risk of a bear attack by joining the tour group.
•    Derek cannot hold the tour company liable because there is no way to prepare for or avoid a bear attack.
•    The company is not at fault because it does not owe Derek a duty of care.

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NuKere, a nuclear plant, accidently leaks hazardous waste onto a nearby property, despite having recently passed a rigorous set of safety checks. Under standards of strict liability, which of the following is true?
•    NuKere cannot be held liable, as it just passed a strict set of safety checks.
•    NuKere can be held liable only if there is concrete physical evidence of harm to people or property.
•    Nukere cannot be held liable because anyone living nearby assumes the risk of hazardous waste toxicity.
•    Nukere should be held liable because of the dangerous nature of hazardous waste. Regardless of safety checks, the accident happened.
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Tiana runs an employment agency distributing work assignments to many workers who then work for whatever employer they are assigned to. Which true statement best suits this situation? ("Discriminate" in this context means to make an employment decision about employees based on the characteristics described in the text.)
•    May discriminate, no qualifier
•    May not discriminate, subject to time lapse(Incorrect)
•    May not discriminate, no qualifier
•    May discriminate, subject to type of business involved

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Which statement matches the following scenario?
Layne is romantically interested in his employee, Brenda. He keeps asking her out, and she repeatedly has to turn him down.
•    Not guilty of sexual harassment, no qualifier
•    Guilty of hostile work environment sexual harassment
•    Not guilty of sexual harassment, dependent on harassee
•    Guilty of quid pro quo sexual harassment (incorrect)

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Penn commits a tort while acting in the interest of her undisclosed principal.
Who is responsible or liable?
•    Agent only
•    Principal and agent
•    Principal only

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Mike is an agent making purchasing orders for Tami. Tami passes away before the agency contract is voluntarily ended. Mike has already done some of the work Tami assigned.
What is the result related to the status of the agency?
•    Agency is not terminated
•    Agency is terminated by law
•    Agency is terminated by fulfillment
•    Agency is terminated by incapacity (Incorrect)

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Kenzie is a broker agent hired to make a deal for the purchase of an office building. Kenzie sells the building.
What is the result related to the status of the agency?
•    Agency is terminated by incapacity
•    Agency is not terminated
•    Agency is terminated by fulfillment
•    Agency is terminated by law

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Alfonso prefers only to hire Latino workers because they "fit in" easier with his 12 employees. During a busy season, Alfonso hires three extra workers to help keep up with business, then lets them go when the busy season is over. Which true statement best suits this situation? ("Discriminate" in this context means to make an employment decision about employees based on the characteristics described in the text.)
•    May discriminate, subject to type of business involved
•    May discriminate, no qualifier
•    May not discriminate, no qualifier (Incorrect)
•    May not discriminate, subject to time lapse

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Which of the following would be considered a situation of legal employment discrimination?
•    Sheryl, who has a disability, is rejected from a job position because the employer would have to pay for an accommodation.
•    Meryl, who has a disability, is rejected from a job position because she doesn't have a certification for the job she would be doing.
•    Rene, who has a disability, is rejected from a job position because another candidate did not have a disability.
•    Charlie, who does not have a disability, is rejected from a job position because the employer thinks he has a disability.
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Which statement matches the following scenario?
 Joy is a supervisor over Elias. She repeatedly solicits sexual behavior from Elias and does other inappropriate actions that a reasonable person would find offensive. Elias has not solicited the behavior and finds it unwelcome. Joy never imposes a tangible job action against Elias.
•    Not guilty of sexual harassment, no qualifier
•    Not guilty of sexual harassment, dependent on harassee (Incorrect)
•    Guilty of quid pro quo sexual harassment
•    Guilty of hostile work environment sexual harassment

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Orlando's business wants to enact an affirmative action plan. Which of the following would not be a part of the process?
 
•    Setting a timeframe for when the business plans to achieve a certain percentage of minority workers
•    Reviewing the current workforce
•    Determining why using an AA plan might be necessary or wise
•    Firing majority workers who perform the least well.

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Which statement corresponds to this specific situation?
Rowan owns a computer programming business with 15 employees. He is hiring a new employee, and he turns down a 45-year-old man because he is "too old to keep up with the rest of the group."
•    Employer may legally discriminate based on BFOQ
•    Employer may legally discriminate because the law doesn't apply to this situation
•    Employer may not legally discriminate (Incorect)
•    Employer may legally discriminate based on number of employees

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Felipe is an illegal immigrant seeking work in the U.S. He is hired by a small factory doing manual labor. When it is discovered that Felipe is an illegal immigrant:
•    Felipe can be deported, and the employer can be punished.
•    Felipe can be deported, and the employer will not be punished.
•    Felipe cannot be deported, but the employer can be punished.
•    Felipe cannot be deported, and the employer will not be punished.

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Marley goes outside the duties of her agency in negotiating a business contract between her principal and a customer. Which of the following is true?
•    The principal is required to ratify the contract Marley made, and also to pay her for her work. (Incorrect)
•    If the principal disavows the contract Marley made, it still must pay for the work.
•    Even if the principal ratifies the contract Marley made, it does not have to pay her for the work.
•    If the principal ratifies the contract Marley made, it must pay her for the work.

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Elaine is a secretary for a business. One day a customer comes in to file a new contract while Elaine is seated at her boss's desk. The customer assumes Elaine is a person of authority, and Elaine is knowledgeable enough to help the customer file the contract.  Which response aligns best with this situation?
•    Enforceable via factor agent
•    Enforceable or unenforceable with agency
•    Enforceable or unenforceable—no agency (Incorrect)
•    Enforceable via employee agent

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Megan's boss is out of town. While she is gone, the company receives a critical tax bill from the state that must be paid immediately. Megan does not have authority to pay bills, but arranges for the company to pay the bill anyway. Which response best first the situation?
•    Enforceable or unenforceable—no agency
•    Enforceable via factor agent
•    Enforceable or unenforceable with agency
•    Enforceable via employee agent

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Cathy works in a welding shop. While working one day, a pipe falls from scaffolding above and lands on her head, injuring her. Cathy complains to OSHA, but the company argues that because it has a "watch out for falling pipe" sign in the workplace that it gave fair warning. It also says that if Cathy wasn't wearing a hardhat, she is responsible for her own injury. Which of the following is true?
•    OSHA rules can hold Cathy's employer responsible for not maintaining a hazard-free workplace.
•    More than one answer is correct.
•    Cathy's employer may not be held liable for her injury if it fulfilled compliance and general duty requirements.
•    Common law rules could hold Cathy responsible for her own injury.

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For the scenario, determine whether or not the person should be covered by worker's compensation protections.
Ginger works at a shop as a mechanic. One day at work, a fellow employee is pinned under a car when a jack fails. Ginger rushes over to help, and while trying to lift the car suffers a stroke.
•    Ginger will not be covered
•    Ginger will be covered

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Read the scenario and determine what result the law requires.
The union at Cherry's firm is on strike because it wants higher wages. During the strike, management hires a new person to take Cherry's place. When the strike finally ends, Cherry wants her job back. Which of the following is true?
•    Cherry must receive her job back
•    Cherry may not receive her job back

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Training opportunities are what kind of a bargaining subject?
•    Permissive bargaining subject
•    Mandatory bargaining subject
•    Illegal bargaining subject

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Read the scenario and determine what result the law requires.
The union at Elsa's firm is on strike because the company has not been following OSHA safety standards. During the strike, management hires a new person to take Elsa's place. When the strike finally ends, Elsa wants her job back.
•    Elsa must receive her job back
•    Elsa may not receive her job back

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Cynthia is a union member at her company. She files a complaint against the union because of what she feels is an unfair rule. Which of the following is true?
•    Cynthia can have her union membership stripped from her if she files a complaint.
•    Cynthia can file a complaint with the union only.
•    Cynthia cannot complain to the union, but she may sue it instead.
•    Cynthia may sue the union if her complaint to the union doesn't resolve her problem.

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For the scenario, determine whether or not the person should be covered by worker's compensation protections.
Noel is on break at work and is bored. He climbs up on a conveyer belt and comically uses it as a treadmill. He slips on the belt and falls down, and his hand gets stuck in the belt and is injured. Noel's actions are typical, and his employer knows that he usually engages in this kind of behavior.
•    Noel will be covered
•    Noel will not be covered

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Buster has had a serious medical condition for many months. He has used up all of his sick leave and vacation days, as well as 10 weeks of intermittent FMLA leave. He asks for an additional two weeks off from work. Which of the following is true?
•    Buster cannot take any more leave if he has also used up his sick leave and vacation days.
•    Buster's employer can fire him because he wants to take more leave.
•    Buster is entitled to the leave he is asking for.
•    Buster cannot be fired for reasons aside from his need to take leave.

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Fill in the blank that completes the statement.
Al's Fine Winery has had workers attempting to ban together to form a union. Al's wants to avoid letting the workers gain too much power by eliminating new workers' option to join a union at all. Al's will likely utilize ____________.
•    Criminal conspiracy law(s)
•    Antitrust law(s)
•    Federal injunction(s)
•    Yellow dog contract(s)

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Maddox is Gordon's 17-year-old son. He is a whiz at repairing machines and is employed doing so at the factory full-time during the summer. He has already worked 40 hours this week, but some machines still need repaired. Is Max eligible for overtime pay?
•    Maddox cannot work overtime
•    Maddox must be paid overtime

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Ella makes minimum wage. Her job title is "System Assembly Supervisor." She primarily spends her workday putting together electronic components. She is asked to work more than 40 hours this week to meet a deadline. Is Ella eligible for overtime pay?
•    Ella cannot be paid overtime
•    Ella must be paid overtime

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Which of the following was an effect of Norris LaGuardia?
•    Prohibition against eliminating unions (Incorrect)
•    Prioritization of employment to a worker over a worker to his or her business
•    Enforcement of federal injunctions.
•    Prohibition against concerted activity.

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Darlene and her friends get together for lunch after work. While at lunch, the friends discuss what they can do to solve the problem with excessive overtime at work. Which of the following is true?
•    Darlene and her friends are not engaging in concerted activity because they are not in a union meeting.
•    Darlene and her friends are engaging in concerted activity only if they are union members.
•    Darlene and her friends are not engaging in concerted activity because they don't plan to talk to management about the problem.
•    Darlene and her friends are engaging in concerted activity since they are discussing how to improve working conditions.
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Ozzy recently started working at a new company. He has been solicited several times to join the union of the company, but he would prefer not to. The union officials tell Ozzy that he won't be allowed to keep working unless he joins the union. Which of the following is true?
•    Ozzy's requirement to join the union depends on his state of employment.
•    The union officials are pretending they have a closed shop and can't influence Ozzy's decision.
•    The union can't make Ozzy join the union, but it can require him to pay union dues.
•    Ozzy must now join the union because union shops are always legal.

ETH321 Week 1 Apply Exercise SCORE 78 PERCENT

1.    Clara is suing David because of a property dispute. Clara and David are from different states, so it is not readily clear which state has jurisdiction over this case. Which of the following is true?
o    Jurisdiction falls in David's state of residence, since he is the one being summoned to court.
o    Jurisdiction falls in Clara's state of residence, since she is the plaintiff.
o    Jurisdiction depends solely on where the property - the focus of the dispute - is located.
o    Jurisdiction can fall in whichever state has subject matter or personal jurisdiction, likely depending on which state Clara feels will give her a more favorable outcome for her case.
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2.    Federico is in a financial dispute. He is trying to collect money for services rendered, but the debtor does not want to pay the money owed to Federico. Which court that would most likely address this situation?
o    State Small Claims Court
o    U.S. Bankruptcy Court
o    U.S. Tax Court

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3.    Dixonville has had fundamentally the same demographics, economic system, and social structure for decades. In recent years these factors have begun to shift, causing many to call for new legislation and legal practices. Shifting the legal structure of Dixonville in order to account for the changes that are occurring would be in accordance with the __________ school of jurisprudential thought.
o    Legal Realism
o    Irrational Forces
o    Natural Law
o    Sociological
o    Historical

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4.    A law which promotes the opportunity for foreign workers to obtain employment, housing, and medical care regardless of their citizenship status would likely fall under which school of jurisprudential thought?Which school of jurisprudential thought is most clearly exhibited in this scenario?
o    Legal Realism
o    Irrational Forces
o    Natural Law
o    Historical
o    Sociological

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5.    A law was recently passed in the city of Birmingdon that specifies a long list of restrictions on disposing of different kinds of waste material. The law is long, meticulous, and complicated, and many citizens do not understand all the points of the law or the purpose it is meant to fulfill. Citizens are commonly caught breaking the ordinance. Which law or principle of law which is most relevant to this situation?
o    Procedural Due Process
o    First Amendment
o    Equal Protection Laws
o    Substantive Due Process

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6.    Claudia feels strongly against a law that was recently passed in her hometown. She proceeds to write letters to the local newspaper criticizing the effect of the law. She also marches up and down the sidewalk in front of city hall loudly publicizing her contradictory point of view. Which law or principle of law which is most relevant to this situation?
o    Substantive Due Process
o    First Amendment
o    Procedural Due Process
o    Equal Protection Laws

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7.    After a tragic event in which an armed intruder storms into a mall and fatally shoots several people, the city of Belmonte institutes a law that prohibits any form of weapon in public retail establishments. This reaction would be an example of following which school of jurisprudential thought?
o    Natural Law
o    Irrational Forces
o    Sociological
o    Historical
o    Legal Realism

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8.    Annie is an observer to a legal dispute between two of the tenants in a building she manages. She has documented information relevant to the case but prefers not to get involved in the dispute. Which of the following is true?
o    Annie is required by Good Samaritan laws to put forth any information she has relevant to the case.
o    Annie cannot provide any information since her position as a manager precludes her ability to be unbiased.
o    Annie can refuse any attempt to involve her in the dispute between her tenants.
o    Annie can be required via subpoena to provide the information she has.

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9.    Which legal school of thought is illustrated in this dialogue?
DONUT DAY AT THE OFFICE
Part 2
Bob: Listen, donuts are made to bring joy into our lives and to wake up our glazed faculties. Just let them be distributed according to unchanging moral principles of justice. The donuts will distribute themselves according to natural principles.  We just take what we want and the leftovers will be appreciated by those who enjoy them most. Don't over complicate this. Where's the chocolate milk?
End Part 2
o    Critical legal studies school of thought.
o    Historical perspective school of thought.
o    Natural law school of thought.
o    Irrational forces perspective.

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10.    Sally and Kirk are at odds over the details of a business contract. Neither of them wants to go to court, but they both refuse to make a compromise on the terms they expect from one another. Which of the following would most easily force them to a resolution?
o    Negotiation
o    Legally-binding arbitration
o    Non-binding arbitration
o    Legally-binding mediation

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11.    A television producer/director receives the following script designed to celebrate National Donut Day.  As she reads it, it brings to her mind some principles of jurisprudence she learned in her college business law class. 
Help her out: Which legal school of thought is illustrated in this dialogue?
 
DONUT DAY AT THE OFFICE
Part 1
(The scene is a lunchroom or break room. There are at least three round tables visible and perhaps a vending machine, microwave, or refrigerator in the background. Of the three tables, no one is sitting at the center table as the scene opens.)
Karen: (She walks in carrying two big boxes of donuts and places them on the center table.) Allied Chemical just dropped these off to thank us for our work on the "Expressly Hair" project. Have fun. (She says unenthusiastically. She shows absolutely no interest in the donuts and quickly leaves. Everyone else, except Alison, immediately stands. Alison is still showing an interest in the goodies but not moving toward them. Joyce immediately positions herself between the donuts and Bob.)                                                                                                           
Bob: It's a donut festival!
Joyce: (She moves to block and slow him, as if checking him in basketball.) Just wait a second! We have to first establish the rules.
Bob: Rules, in a donut festival?
Joyce: Yes rules. Last time donuts like these were brought in, Winfred got a broken nose and, once again, Alison didn't get any. We aren't animals. If we don't slow down, someone is going to accidentally eat the cardboard again.
Bob: Oh, no. Here we go. Where's the PowerPoint?
Joyce: There are guidelines in the employee handbook that have been developed over many years that detail out exactly what is to be done with these kind of employee gifts. (She opens a thick binder.) Nearly any scenario you can imagine has been detailed out in section 34 (b), including pastries from chemical companies. Practices and procedures have been set and we would be smart to follow them.
End Part 1
o    Irrational forces perspective.
o    Historical perspective school of thought.
o    Natural law school of thought.
o    Critical legal studies school of thought.

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12.    Which legal school of thought is illustrated in this dialogue?
DONUT DAY AT THE OFFICE
Part 5
Derek: We need someone we can trust who can divide up the donuts. One set of rules can't always be applied here. If we had an impartial judge or two in the mix, someone who doesn't like donuts perhaps, they could take into account all of the changing factors impacting our donut sphere and make up rules that will bring glazed-happiness to all who seek it.
End Part 5
o    Irrational forces perspective.
o    Sociological school of thought.
o    Legal realism school of thought.
o    Critical legal studies school of thought.

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13.    A new law is established in the town of Avery that promotes affirmative action employment for people trans-gender and homosexual individuals. This law would be in pursuance of the tenets of the __________ school of jurisprudential thought.
o    Law and Economics
o    Sociological
o    Command
o    Irrational Forces
o    Legal Realism

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14.    The federal government passes a law which a company, JuneCorp, feels unjustifiably discriminates against the company and harms its ability to operate. Which law or principle of law which is most relevant to this situation?
o    Procedural Due Process
o    Substantive Due Process
o    First Amendment
o    Equal Protection Laws

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15.    The government of Sharonville is deep in debt, and consequently enacts a city ordinance that requires citizens to do volunteer work for the city once per week. Such and act would be in accordance with the __________ school of jurisprudential thought.
o    Sociological
o    Legal Realism
o    Law and Economics
o    Irrational Forces
o    Command

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16.    Which legal school of thought is illustrated in this dialogue?
DONUT DAY AT THE OFFICE
Part 4
Lee: Right. Inflexible rules, applied the same way every time and in every situation, are just a sign of corporate insanity. This is a company that knows how to adapt and make smart decisions based on the circumstances at hand. Remember when we found out that Allied Chemical hair gel accelerated hair growth at twice the industry standard . . . just before the hair would fall out? Remember what happened to Winfred after he tested out the stuff for us? Remember how happy Allied Chemical was with us when we figured how to market their goop anyway? Dogmatic rules are made to be broken by the enlightened and that's what we are now. We are officially "the enlightened" of the break room.
End Part 4
o    Sociological school of thought.
o    Irrational forces perspective.
o    Legal realism school of thought.
o    Critical legal studies school of thought.

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17.    Which legal theory is illustrated in this dialogue?
DONUT DAY AT THE OFFICE
Part 3
Joyce: We had a lawsuit filed about this after the pastry rumble of 2017 and there was . . . oh yeah, I remember there were some specific rules that are detailed out in 34 (b), section 4.
Bob: Those stupid rules were made after Winfred face-planted in the donuts when he slipped trying to get past Alison. They don't apply here. There wouldn't even be donut rules if he'd paid attention to his own big feet.
End Part 3
o    Irrational forces perspective.
o    Natural law school of thought.
o    Critical legal studies school of thought.
o    Historical perspective school of thought.

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18.    An appeals court feels that a lower court has made an incorrect judgment concerning a civil law case. Which of the following would be the mostly reason to remand the case back to the lower court?
o    The appellate court found a mistake of law that occurred during the initial trial.
o    The appellate court wants the lower court to handle the case, since it is a civil rather than criminal case.
o    The appellate court wants to see more evidence before it can make an informed decision.
o    The appellate court found a mistake of fact that occurred during the initial trial.

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19.    Charlie is summoned for jury duty. While still in the selection process, it is discovered that one of the parties to the case used to be an old friend and neighbor of Charlie's. Which of the following would most likely happen?
o    Charlie would be excluded through preemptory challenge.
o    Charlie would be excluded for cause.
o    Charlie can refuse to serve on the jury.
o    Charlie would be preserved on the jury since he would have inside information about one of the parties.
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A relationship with one of the parties is substantial cause to remove a person from a jury.

20.    Which jurisprudential school of thought relies the most upon precedent in establishing law?
o    Historical
o    Irrational Forces
o    Natural Law
o    Sociological
o    Legal Realism

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21.    The federal government passes a law which a company, JuneCorp, feels unjustifiably discriminates against the company and harms its ability to operate. Which of the following statements is true?
o    JuneCorp can contest the legality of the law if it passes all three scrutiny tests employed by the courts.
o    JuneCorp can contest the legality of the law if there is no evident state interest which substantiates the enforcement of the law.
o    JuneCorp cannot contest the legality of the law if there is anything but a financial impact on the company because of the law.
o    JuneCorp cannot contest the legality of the law, since the Equal Protection Clause applies to people rather than corporations.
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A court would need to determine that the law does not pass whichever scrutiny level applies to this situation. The key to overturning biased laws is proving that they do not further important state interests.

22.    Which legal school of thought is illustrated in this dialogue?
DONUT DAY AT THE OFFICE
Part 8
(Just then Calvin, the fit CEO, comes jogging into the room with a water bottle in hand. He spots the donuts and shows his disgust.) Calvin: Why do people inflict such nasty, sugar-coated poison on all of us?! A healthy workplace is a happy workplace. (He takes both boxes of donuts, puts them in a small, dirty, battered trash can and steps on them to squash them down, making them suddenly inedible. He smiles at everyone as if they all agree that he has done them a great service.) That's my job as CEO, to help everyone realize a long and happy life! Cheers! (He runs from the room as everyone looks on in stunned silence. After a couple of seconds Bob collapses on the floor next to the garbage can, looking at the destroyed donuts as if they were a long-lost love.)
End Part 8
o    Sociological school of thought.
o    Command school of thought.
o    Law and economics school of thought.
o    Legal realism school of thought.

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23.    Which of the following situations would not substantiate proper standing to sue?
o    TreesForDays, an environmental activist group, wants to sue a company dumping chemicals into a river in a different state.
o    Aniesha wants to sue her neighbor Robert after seeing him engage in criminal animal cruelty.
o    Calvin wants to sue his sister after finding out she has been taking cash from the cash register at the family business.
o    Tyler wants to sue Kevin after Kevin harms Tyler's sister in a car crash which leaves her sister in a coma.
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24.    Which of the following situations would most likely receive a change of venue?
o    A local teacher is taken to court after a video of him beating his students goes viral.
o    A woman wants a change of venue when it appears that all jurors to the case will be male.
o    An employer who is accused of racially-discriminatory practices wants a change of venue when it finds out that the local venue judge is African-American.
o    A defendant in a case requests a change of venue because the location of the trial is inconveniently far away from the state where he lives.
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25.    Sage files a complaint against Isabel, alleging that Isabel is responsible for damages to Sage's property. Isabel thinks the allegations are ridiculous and doesn't bother to respond to the complaint which she has been served. Which of the following is likely true?
o    A court will not open a case or post a judgment until Isabel chooses to respond.
o    A court can judge in Sage's favor because Isabel seems to be constructively admitting to Sage's allegations.
o    A court can judge in Isabel's favor even if she doesn't respond if it appears Sages allegations are frivolous.
o    A court can judge in Sage favor because Isabel is not bargaining in good faith.

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26.    Casey is on trial under criminal allegations that she engaged in fraudulent behavior at the company she manages. She is worried when the plaintiff alleges that it has "unambiguous proof" that Casey is guilty. Which of the following is most likely true?
o    Casey need not worry about the plaintiff's evidence, since parties tend to boast about the level of proof they can establish anyway.
o    If the plaintiff provides proof only up to the level of "clear and convincing," Casey can still be acquitted.
o    The plaintiff will most likely prove Casey is guilty, since criminal charges only need to meet a prima facie burden of proof.
o    If the plaintiff does have unambiguous evidence that meets a "clear and convincing" burden of proof, Casey will most likely be found guilty.
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27.    Adelyn is in a financial dispute with her creditor. She wants to declare bankruptcy because she is finding herself unable to meet the requirements of paying off her debt. Which court that would most likely address this situation?
o    U.S. Bankruptcy Court
o    U.S. Tax Court
o    State Small Claims Court

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28.    Radcliffe is a college business professor with little education but extensive experience in business. A treaty negotiating the free trade of educational opportunities was just passed between Canada and the U.S., and it includes a condition that all university professors must have at least a master's degree in order to teach. Which of the following is true?
o    Radcliffe no longer meets the qualifications to teach.
o    The treaty is only enforceable if it doesn't conflict with state law in Radcliffe's state.
o    Radcliffe may still teach as long as he only teaches in the U.S.
o    Radcliffe may not be restricted from teaching if his university has no rule concerning the need for a master's degree.
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29.    Nation A is neighbors with Nation B. When an international crime lord who operates in both countries is captured by Nation A, it sentences him to a lifetime of heavy labor. Nation B wants to have the criminal executed, but it defers to Nation A's judgment. Which principle of International Law is at play?
o    Sovereign Immunity
o    Act of State Doctrine
o    Comity of Nations

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30.    Determine which moral standard of social responsibility the business is observing.
Meg's company decided to build an additional factory in a small community. When the community started a protest because of the negative impact it feels a factory will have on the community, Meg's company promises to prevent and pay for any negative impact to the community. It also offers to build a community park to balance out the negative impact the factory will have.
o    Stakeholder Theory Moral Standard
o    Moral Minimum Standard
o    Profit-Maximizing Moral Standard
o    Indeterminable
o    Corporate Citizenship Moral Standard

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31.    Anthony votes in favor of a bill which would prevent people above a certain level of income from being able to purchase subsidized housing. Which philosophy of ethics is applies here?
o    Social Justice Theory
o    Utilitarianism
o    Virtue Ethics
o    Kantianism

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32.    Nation A makes is illegal for its citizens to own more than one vehicle in order to reduce emissions. Nation A's neighbor Nation B disagrees with the decision and refuses to enforce it in its own borders but refrains from contesting the decision in court. Which principle of International Law is at play?
o    Sovereign Immunity
o    Comity of Nations
o    Act of State Doctrine

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33.    Lula thinks that people who discipline their children by spanking should be sent to jail and says she would be glad to go to jail if she was caught spanking her child. Which philosophy of ethics is applicable?
o    Virtue Ethics
o    Kantianism
o    Social Justice Theory
o    Utilitarianism

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34.    Silvia and her brother Clyde make a code of rules they have to follow together. The rules are as follows:
I) If Silvia bakes a cake, then Clyde can eat as much of it as he wants.
II) Silvia and Clyde can only go to movies they are both interested in seeing.
III) Every time Clyde borrows Silvia's car, he must put some gas in it. Silvia must do the same when she borrows Clyde's motorcycle.
IV) If Clyde makes a cobbler, Silvia can eat as much of it as she wants.
Which ethical philosophies are represented in these rules?
o    Social justice theory only
o    Social justice theory and Kantian ethics
o    Kantian ethics and utilitarianism
o    Social justice theory and Kantian ethics

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Items I and IV balance out, reflecting Kantian ethics. Item III reflects Kantian ethics as well. Item II reflects utilitarianism.

35.    Determine which moral standard of social responsibility the business is observing.
Vivian's company is considering building a huge new department store in a small town. The community argues that the store will disrupt local commerce and harm local business owners. Vivian argues that the store will save money for customers and bring more jobs to the community. Assume both arguments are true.
o    Stakeholder Theory Moral Standard
o    Profit-Maximizing Moral Standard
o    Moral Minimum Standard
o    Indeterminable
o    Corporate Citizenship Moral Standard

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36.    NoraCorp wants to meet a moral minimum of ethical behavior in its operations. It is planning a merger with another company which would cause any or all of the following:
I) Stock price will go up, positively impacting shareholders
II) The company could build a new central headquarters, negatively impacting landowners and community members by decreasing property values
III) The company could fire 200 employees
IV) The company could afford a new production facility, which would negatively impact the environment and landowners' property
V) The company could offer more, higher-quality products to customers for lower cost, positively impacting them.
NoreCorp decides to move forward with the merger. All of the above events occur, but NoraCorp offers severance packages to the employees it fires and plans to compensate landowners for damages caused by the new production facility. Which of the following is true?
o    NoraCorp has not met its moral minimum requirements.
o    NoraCorp has met its moral minimum requirements.
o    NoraCorp has exceeded its moral minimum requirements, meeting g a corporate citizenship standard.
o    It is impossible to determine whether the company has met a moral minimum standard of ethical behavior.
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The company is compensating for some of its negative impacts (severance packages, compensation to landowners near the production facility). It is also not perfectly addressing some shareholders' interests (community members at the new headquarters, fired employees have no job, and environmental damage is paid for rather then prevented.) The company is "in the middle" of meeting ethical standards and strongly pursuing social responsibilities.

37.    Determine which moral standard of social responsibility the business is observing.
Brad's company has a smokestack that pollutes the air in a nearby community. When people begin complaining about the pollution, the company pays to have a stack scrubber installed on the smokestack to limit the pollution but does not respond to the community's complaints.
o    Profit-Maximizing Moral Standard
o    Stakeholder Theory Moral Standard
o    Corporate Citizenship Moral Standard
o    Indeterminable
o    Moral Minimum Standard

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38.    Nation A builds a new highway next to citizens' properties. In the months following, littering as well as several highway accidents result in damage to the properties. The property owners want to sue the government for damages, but are restrained by:
o    Sovereign Immunity
o    Act of State Doctrine
o    Comity of Nations

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39.    Finley steals from a greedy CEO in order to give money to a large number of poor people. Which philosophy of ethics is applicable?
o    Virtue Ethics
o    Social Justice Theory
o    Kantianism
o    Utilitarianism

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40.    Determine which moral standard of social responsibility the business is observing.
Genie's company is considering building an annex to its main factory. While deciding on the project, the board of directors discusses the impact the the annex would have on the local community, shareholders, company profits, and nearby landowners.
o    Moral Minimum Standard
o    Indeterminable
o    Corporate Citizenship Moral Standard
o    Profit-Maximizing Moral Standard
o    Stakeholder Theory Moral Standard

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Exam 500301 Future Cash

1.   Amortized loans must have which one of these characteristics?
    
  A. One lump sum principal payment

  B. Either equal or unequal principal payments over the life of the loan

  C. Increasing payments over the life of the loan

  D. Equal interest payments over the life of the loan

2.   Why is "preferred" stock given that name?
    
  A. Despite its deceptive name, preferred stock is actually a special kind of debt with a AAA rating, and the debt holders can vote in stockholder elections.
  B. It's stock that's preferred by investors because of its high performance and the fact that it's in the S&P 500 and other stock market indexes.
  C. While all stockholders have rights to dividends, preferred stockholders also can vote on changes to the corporate charter and can vote to hire and fire executives, whereas common stockholders can't.
  D. Preferred stockholders have preferential treatment over common stockholders; they're usually paid first and sometimes have additional voting rights.

3.   Would you expect to pay a higher interest rate for an unsecured loan for $2,000 or a secured loan for the same amount?
    
  A. The rate for both would be about the same on average.

  B. The secured loan would be at a higher rate.

  C. The unsecured loan would be at a higher rate.

  D. The rate for each loan would vary based on inflation.

4.   What's the present value of $4,500, discounted at eight-percent interest per period, for two periods? (Round your answer to the nearest dollar.)
    
  A. $3,858

  B. $4,160

  C. $3,932

  D. $4,166









5.   Which of the following is a network-based, over-the-counter exchange, with no physical marketplace?
    
  A. NYSE (New York Stock Exchange)

  B. NYMEX (New York Mercantile Exchange)

  C. NASDAQ (National Association of Securities Dealers Automated Quotations)
D. WSJ (Wall Street Journal)

6.   You can't attend the shareholder's meeting for Alpha United, so you authorize another shareholder to vote on your behalf. The granting of this authority is called
    
  A. alternative voting.

  B. straight voting.

  C. voting by proxy.

  D. cumulative voting.


 

7.   New Homes has a bond issue with a coupon rate of 5½ percent that matures in 8½ years. The bonds have a par value of $1,000 and a market price of $972. Interest is paid semiannually. What's the yield to maturity?
    
  A. 6.36 percent

  B. 6.42 percent

  C. 5.74 percent

  D. 5.92 percent


8.   A floor broker on the NYSE
    
  A. trades for his or her personal inventory.

  B. supervises the commission brokers of a specific financial firm.

  C. executes orders on behalf of a commission broker.

  D. maintains an inventory and assumes the role of a market maker.

9.   What's it called when we use a table or spreadsheet to track a loan balance, payments, and the portion of these payments that can be attributed to interest and paying off the principal?
    
  A. Loan tracking

  B. Loan matrix

  C. Loan amortization

  D. Loan payment plan


10.   Most investments can be valued by looking at all future cash flows. The cash flows from stocks are usually paid as
    
  A. net income.

  B. bond yields.

  C. dividends.

  D. capital gains.


11.   Three Corners Markets paid an annual dividend of $1.37 a share last month. Today, the company announced that future dividends will be increasing by 2.8 percent annually. If you require a return of 11.6 percent, how much are you willing to pay to purchase one share of this stock today?
    
  A. $15.57

  B. $16.00

  C. $16.67

  D. $18.23


12.   You own a classic car currently valued at $64,000. If the value increases by 2½ percent annually, how much will the car be worth 15 years from now?
    
  A. $86,008.17

  B. $92,691.08

  C. $80,013.38

  D. $91,480.18


13.   The next dividend (D1) for the Jimmy Company will be $6 per share. Investors require a 20-percent return on companies such as the Jimmy Company. Jimmy's dividends are expected to increase by 10 percent every year. Based on the dividend growth model, what's the value of the stock today?
    
  A. $60

  B. $30

  C. $66

  D. $120







 
14.   Suppose that you buy a $2,000 bond with a 10-percent annual coupon, payable semiannually on January 1st and July 1st. On both January 1st and July 1st, the bondholder will receive $100 for a total annual interest payment of $200 ($100 + $100). Based on the principal and accrued interest only, how much would you expect to pay to purchase this bond on April 1st?
    
  A. $2,050

  B. $2,000

  C. $2,100

  D. $2,200

15.   Assume that a corporation wants to borrow $100,000 by issuing one hundred 10-year, $1,000 bonds. The interest rate required for similar bonds from similar corporations is 11 percent. What's the bond's face value?
    
  A. $111,000

  B. $1,000

  C. $1,110

  D. $110

16.   Today, you deposit $1,500 into an account that pays six-percent interest annually. How much will you have in the account after five years? (Round your answer to the nearest dollar.)
    
  A. $2,007

  B. $2,097

  C. $1,894

  D. $1,950


17.   Megan is thinking about creating a small college fund for her daughter, Jayda, to help Jayda with the first year of tuition. Jayda is four years from starting university, and Megan estimates that tuition will be about $10,000. Megan has $10,000 today, but she wants to spend some of it on a new computer. How much of the $10,000 will Megan need to invest today in an account with a seven-percent interest rate to have enough in four years to pay for the first year of college? (Round your answer to the nearest dollar.)
    
  A. 7,200

  B. 7,932

  C. 7,629

  D. 8,327


18.   While researching construction loans, you discover you can take out a Bank of America five-year, $200,000 loan with eight-percent interest compounded annually, or a Chase Bank loan with the same terms—except that the eight-percent interest is compounded semiannually. You know you won't be able to make any payments on the loan until you sell the building at the end of year five. Which loan will result in the lowest interest expense?
    
  A. The Chase Bank loan

  B. The Bank of America loan

  C. It doesn't make any difference; the interest expense will be the same.

  D. It isn't possible to determine the interest expense of these loans with the information provided.


 
19.   What's the present value of the right to receive three equal payments, with the first payment starting today (annuity due) of $9,000 per period, discounted at a rate of 10 percent per period? (Round your answer to the nearest dollar.)
    
  A. $24,620

  B. $27,000

  C. $22,382

  D. $15,620



 
20.   The Pet Tracker Company announced that their dividend next year (D1) will be $18 per share. Investors require a 25-percent return on companies such as the Pet Tracker. The firm's dividends are expected to increase by five percent every year. Based on the dividend growth model, what's the value of the stock today?
    
  A. $95

  B. $45

  C. $72

  D. $90











 





 






 

Exam 402418 animation

1.   You're organizing the files in your multimedia project, which are also known as
    
  A. frames.

  B. assets.

  C. software.

  D. objects.


2.   If you're using twisted-pair copper wires to connect to your network, you're most likely using
    
  A. radio.

  B. USB.

  C. Ethernet.

  D. WiFi.


3.   Which of the following standards developed by the Moving Picture Experts Group offers indexing and querying?
    
  A. MPEG-1

  B. MPEG-3

  C. MPEG-4

  D. MPEG-2


 
4.   If you're using a flat-screen display, which type of technology could you use with it?
    
  A. LCD

  B. CRT

  C. DVD

  D. ATSC



5.   Disney is known for having popularized a certain type of animation. What type of animation is it?
    
  A. Cel

  B. Path

  C. 2 ½–D

  D. 3–D



6.   You're managing a multimedia project that teaches people basic finance skills. Who should you hire to make sure the subject matter is clear for users?
    
  A. The instructional designer

  B. The multimedia programmer

  C. The interface designer

  D. The project manager


7.   When animating people, you want to make sure their movements are true to life. The study of this movement is known as
    
  A. rendering.

  B. morphing.

  C. modeling.

  D. kinematics.


8.   If you're working on adding color to your animations with special methods, you're working on
    
  A. inks.

  B. penciling.

  C. blots.

  D. color-coding.


9.   You're working on computer animation. If you add an illusion of depth to your animation with shadowing and highlighting, you're most likely using _______ animation.
    
  A. 2 ½–D

  B. 3–D

  C. 2–D

  D. path


10.   You're using a tool that will allow you to make transparent colors so you can mix together two videos. Which of the following is not one of these possible tools to help you in this process?
    
  A. Chroma key editing

  B. Ultimatte

  C. Keyframing

  D. Blue screen



11.   You've been hired to ensure the navigation pathways and content maps are clear in a multimedia project. What's your role?
    
  A. Multimedia programmer

  B. Multimedia designer

  C. Project manager

  D. Interface designer


 
12.   Which acronym pertains to a product that allows changes to be made that are not forgotten when power is turned off?
    
  A. DVD-ROM

  B. CD-RW

  C. EPROM

  D. CD-ROM


 
13.   You're shopping around for authoring tools. Which of the following is not a type of authoring tool?
    
  A. Frame-based

  B. Time-based

  C. Page-based

  D. Object-based


14.   Video content that you shoot or acquire is known as
    
  A. stock.

  B. footage.

  C. scripts.

  D. frames.


15.   Which of the following is not a common special effects filter in an image-editing tool?
    
  A. Emboss

  B. Implode

  C. Splatter

  D. Wind



16.   Which multi-touch gesture is not used on mobile devices, smartphones, and tablets?
    
  A. Pan

  B. Triple-finger tap

  C. Flick

  D. Pinch open


17.   A superfast _______ system will support high-support high-speed data transfer rates.
    
  A. high-definition multimedia interface

  B. charge-coupled device

  C. complementary metal-oxide semiconductor

  D. redundant array of independent disks


 
18.   You're creating a rolling ball animation using a distortion filter called "Spherize." Which tool are you using to create this animation?
    
  A. Photoshop

  B. AnimatorPro

  C. Flash

  D. Director


19.   Some DVDs use a/an _______ widescreen coding system to squeeze 16:2 image data into a DVD's standard 4:3 aspect ratio format.
    
  A. codec

  B. light-emitting diode

  C. anamorphic

  D. progressive-scan


20.   When you plan your video ahead of time, you may be using a process known as
    
  A. panning.

  B. storyboarding.

  C. framing.

  D. composing.

Exam 80544RR Groundwork

1.   A resort employs _______ when it shifts the firm's target market from singles to families.
    
  A. multisegmentation

  B. undifferentiation

  C. customization

  D. repositioning


 
2.   _______ occurs when resources of any variety are transferred between the parties to a transaction.
    
  A. Commerce

  B. Exchange

  C. Marketing

  D. Puffery

3.   A mail-order company that uses PRIZM employs _______ segmentation.
    
  A. geographic

  B. demographic

  C. geodemographic

  D. psychographic


 
4.   The items people own, the services they use, and the activities they engage in are byproducts of _______ actions.
    
  A. networking

  B. marketing

  C. global

  D. high-involvement


5.   Which of the following is an example of the concentration targeting strategy?
    
  A. A tailor who individualizes each suit for each customer

  B. A cruise line that advertises to families and singles

  C. A toy manufacturer that makes some toys for children and some for adults

  D. A retailer that sells gadgets for left-handed people only

6.   If fewer people can afford the cost of a college education, this will drastically impact consumer behavior. In a recent survey of college pricing, the College Board reported that "moderate" college budgets for in-state public colleges and private colleges for the 2015–2016 academic year averaged approximately _______, respectively.
    
  A. $20,000 and $35,000

  B. $10,000 and $30,000

  C. $24,000 and $48,000

  D. $15,000 and $40,000

7.   Which of the following is an example of demographic segmentation?
    
  A. A shoe producer who targets the heaviest users of sandals

  B. A newspaper that targets teenagers

  C. A mail-order business that segments their market by Zip code

  D. A restaurant that targets vegetarians



8.   Ava posted a message on the app Nextdoor, asking her neighbors if they knew of a store that sold vintage hats. She received several replies. Which of the following best describes this situation?
    
  A. The power of agents of change

  B. The influence of opinion leaders

  C. Word-of-mouth communication

  D. High-involvement purchasing


 
9.   What do marketers attempt to do in each stage of the customer lifecycle?
    
  A. Advertise to the consumer about their other product offerings

  B. Maintain their customers for life

  C. Improve their customer centricity via touchpoints

  D. Convince consumers to buy their product

10.   Which of the following describes PersonicX household-level segmentation system?
    
  A. It characterizes six distinct types of households.

  B. It was developed by Nielsen Claritas.

  C. It enables marketers to reach targeted segments both on- and offline.

  D. It assigns colorful labels to segments such as "Young Digerati" and "Shotguns and Pickups."


 


11.   Which of the following statements about the pay gap between college graduates and everyone else in American society is true?
    
  A. It has remained constant in recent years.

  B. It has narrowed in recent years.

  C. It has disappeared altogether.

  D. It has widened over the years.

12.   Which of the following concepts pertains to the discipline of psychology?
    
  A. Norms

  B. Culture

  C. Motivation

  D. Values

13.   Which of the following statements best reflects the marketing concept?
    
  A. Quality of life is more important than standard of living.

  B. The consumer is the center of all business activities.

  C. Always target the largest number of segments that resources allow.

  D. Positioning is the most important element of marketing.

14.   Due to its influence on the way a home operates, a family's decision to purchase a dog would most likely be a/an _______ decision.
    
  A. high-involvement

  B. zero-involvement

  C. low-involvement
D. unnecessary

15.   Studies reveal that the annual medical cost of obesity in 2015 was around _______ billion, and marketers have been quick to capitalize on this.
    
  A. $55

  B. $29

  C. $98

  D. $147


 
 
16.   Which of the following is an example of behavioral segmentation?
    
  A. A resort that targets families with children

  B. A restaurant that targets senior citizens

  C. A health club that targets college students

  D. A florist that targets those who buy the most flowers


 

17.   What three customer attributes are AIO inventories designed to reveal?
    

  A. Access, intuition, and ownership

  B. Age, involvement, and oversaturation

  C. Activities, interests, and opinions

  D. Aspiration, inspiration, and orientation
18.   Which of the following statements about a company that implements the marketing concept is true?
    
  A. It puts consumers at the forefront of its activities.

  B. It spends more on advertising than competitors.

  C. It charges lower prices than competitors.

  D. It considers selling to be the most important function of the firm.

19.   Which of the following statements about perceptual maps is true?
    
  A. They chart the location of major metropolitan markets.

  B. They help marketers visually profile the differences among a number of brands that compete in the marketplace.

  C. They help marketers divide consumers into different values and lifestyle categories.

  D. They break down a metropolitan market by Zip codes and demographic characteristics.

20.   The value of the dollar is tied to that of the euro. What does this mean?
    
  A. A stronger euro lowers the cost of goods the United States imports from overseas.

  B. A weaker euro raises the cost of goods the United States imports from overseas.

  C. A stronger dollar raises the cost of goods the United States imports from overseas.

  D. A weaker dollar raises the cost of goods the United States imports from overseas.








 


 



 


 




 


 



 


 


 

FP100T Week 3 Weekly Exam

Question 1
What is the function of the Consumer Financial Protection Bureau?

    It insures the money consumers have placed in large banks.
    It protects consumers from unfair or illegal lending.
    It sets the maximum interest rates that can be charged on credit cards.
    It establishes standard contracts for home equity loans.

Question 2
The legal document that specifies the terms and conditions of a consumer loan is the

    judgement
    lien
    promissory note
    trust agreement

Question 3
When real property is used as collateral to secure a loan, the lender records a __________ against the property.

    mortgage
    deed
    lien
    judgement

Question 4
Which of the following is not one of the situations that can defer student loan payments?

    Peace Corps service
    Postsecondary study
    Change in citizenship
    Economic hardship
   
Question 5
Payday lenders are controversial because they

    are in competition with traditional lenders.
    charge very high rates of interest.
    allow people cash their paychecks even when they do not have a bank account.
    make it easier for undocumented workers to stay in the job market.

Question 6
When you know that you cannot meet your debt obligations, you should

    contact your creditors directly to explain the situation.
    use alternative lenders such as payday lenders.
    declare bankruptcy as soon as possible.
    not contact your creditors because it will adversely affect your credit report.

Question 7
Negative credit information, with the exception of bankruptcies, must be removed from a credit report after __________ years.

    10
    5
    3
    7

Question 8
For borrowers who carry a balance on their credit cards, which of the following methods essentially gives the consumer free credit from the date of purchase until the beginning of the next billing cycle?

    Two-cycle average daily period
    Previous balance method
    Average daily balance method without a grace period
    Average daily balance method with a grace period

Question 9
In assessing a person's creditworthiness using the Five Cs of Credit, which of the following is applicable in the category of "capacity"?

    the amount of other debt the applicant already owes
    the credit score of the person applying for credit
    the income of the person applying for credit
    the value of the asset that will secure the loan

Question 10
Which of the following is the formula for calculating the APR on a credit card?

    (Average annual finance charges + Annual fee)/Average loan balance
    (Total annual finance charges + Annual fee)/Average loan balance
    Average annual finance charges/Average loan balance
    (Total annual finance charges – Annual fee)/Average loan balance

Question 11
The grace period is the period of time before

    a penalty will be assessed for late payment.
    the lender will increase the interest rate on the credit card.
    interest begins to accrue on new transactions.
    the balance is due in full.
(B or C is correct)

Question 12
The method most commonly used by financial institutions to determine finance charges on consumer loans is the

    discount interest method
    add-on interest method
    compound interest method
    simple interest method

Question 13
An interest rate on credit cards that is below the market rate and is offered to new customers is known as a(n) __________ rate.

    cash advance
    teaser
    temporary
    balance transfer

Question 14
Janelle is debating whether to buy or lease her favorite car. Under a closed-end lease, Janelle will

    be required to compensate the lessor for fluctuations in the resale value of the car at lease end.
    not be required to compensate the lessor for fluctuations in the resale value at lease end.
    be able to walk away from her lease no matter the condition of the car.
    have to purchase the car at lease-end.

Question 15
Which of the following statements is true of adjustable-rate mortgages?

    There is no limit as the amount of payment change on an ARM.
    The interest rate changes on ARMs are limited per year and per lifetime.
    They cannot be converted to fixed-rate loans.
    They generally carry higher initial interest rates than conventional mortgages.
(B or C is correct)

Question 16
Among other factors, the price a buyer is willing to pay for a house is a function of

    the family size of the buyer and the distance to work.
    the marital status of the buyer and years of employment.
    mortgage interest rates and the condition of real estate market.
    the credit rating of the buyer and the family size.

Question 17
When considering spending on housing needs, if a person is heavily immersed in credit card debt,

    credit card debt and housing needs are separate and should not be interlinked.
    it would be a good idea to save money by cutting on housing expenditures and paying down credit card debt first.
    the person should first satisfy housing needs and then focus on paying down credit card debt.
    the individual should continue to borrow against credit cards to maintain a roof over their head.

Question 18
The dealer's invoice price is the price that the dealer

    uses as the beginning negotiating price with the buyer.
    puts on a car after purchasing it from the manufacturer.
    uses when selling the car to a buyer.
    pays to purchase a new vehicle from the manufacturer.

Question 19
Compared with a 15-year mortgage at the same rate of interest, a 30-year mortgage will

    require payment of a mortgage insurance premium.
    result in less interest being paid over the life of the loan.
    result in more principal being repaid over the life of the loan.
    require a lower monthly payment.

Question 20
If a borrower wants to lower her monthly mortgage payments, she should

    negotiate a lower interest rate.
    extend the term of the loan.
    make a larger down payment.
    do all of these.

Question 21
If all else is equal, which of the following is LEAST likely to increase the price of the house you can afford to buy?

    increasing mortgage rates
    longer mortgage term
    improvement in your credit rating
    increase in your gross monthly salary

Question 22
Not having a long-term, fixed housing payment ________ a home.

    is both an advantage and disadvantage of renting
    are advantages of renting
    is a disadvantage of owning
    are disadvantages of renting

Question 23
In a home purchase, what are discount points?

    Interest paid up front by the buyer to the lender in return for a reduced annual interest rate.
    Interest paid up front to the lender in return for a reduced monthly mortgage payment.
    A reduction in the annual interest rate of the mortgage loan because the buyer made a higher-than-required down payment.
    A reduction in the closing costs due to the fact the buyer put up a large amount of earnest money.

Question 24
Generally, a person should consider leasing a car under a closed-end lease contract rather than purchase a new car if

    she wants to lower her monthly payments.
    she does not want to take the risk of residual value fluctuation.
    she does not drive a lot of miles annually.
    all of these are true.

Question 25
A lessee is a person who

    purchases property from another person, but sells it back after a period of time.
    sells property to another person with the intention of purchasing it back after a period of time.
    pays money for the privilege of using someone else's property for a period of time.
    owns property and charges someone money to use that property for a period of time.

FP100T Week 2 WileyPlus Exam SCORE 100 PERCENT

Question 1
A budget variance occurs when your actual expenses are ______ than your budgeted expenses.
    less
    more
    different
    all of the above

Question 2
Which of the following pays interest that is exempt from state and local taxation?

    certificate of deposit
    NOW account
    series EE bond
    inflation.

Question 3
If you write a check or use your debit card when there isn't enough money in your account to cover the payment, this is known as

    being unbanked.
    skimming.
    a stop payment.
    an overdraft.

Question 4
Sophie wrote a check to a contractor who did not complete the job. She would like to make sure the contractor is unable to cash her check. She should go to her financial institution and request a(n)

    overdraft protection.
    stop payment.
    wire transfer.
    police report.

Question 5
A money market mutual fund is a mutual fund that invests in

    stocks of the 500 largest companies in the United States.
    investment quality corporate bonds.
    short-term, low risk financial assets such as short-term government bonds.
long-term certificates of deposit.

Question 6
You have invested $1,000 in an account that promises APY of 3 percent per year. Assuming you leave the original investment and all earned interest in the account, and ignoring taxes, how long will it take to double your money?

    72 years
    24 years
    12 years
    4.16 years

Question 7
A savings account that pays a stated rate of interest if you agree to leave your money on deposit for a certain period of time is known as a

mutual fund.
    series EE fund.
    certificate of deposit.
    money market account.
Question 8
For an account that compounds interest more often than once per year, the annual percentage yield will be

    greater than the stated nominal yield.
    less than the stated nominal yield.
    equal to the stated nominal yield.
    either greater than or less than the stated nominal yield, depending on the current interest rate environment

Question 9
Which of the following types of accounts is not insured for $250,000 by the Federal Deposit Insurance Corporation (FDIC)?

    savings account at a commercial bank
    money market mutual fund offered by an insurance company
    checking account at an online bank
    savings account at a savings and loan association

Question 10
Credit unions are a unique type of depository institution because credit unions

are primarily mortgage lenders.
    tend to charge higher fees than commercial banks.
    are nonprofit.
    are insured by FDIC.

Question 11
Simone spent an average of $500 each month on groceries last year for herself and her family. She is now forecasting the family budget for next year. She read that an inflation rate of 5% is expected. How much should Simone budget for the monthly food expense next year?

    $500
    $525
    $750
    $475

Question 12
A ________ is an investment company that sells shares to investors and then invests the pool of funds in stocks, bonds, or other assets.

    mutual fund
    life insurance company
    brokerage firm
    credit union

Question 13
Which of the following tax credits best applies to a low-income person contributing to an IRA?

    lifetime learning credit
    retirement savings contribution credit
    child tax credit
    American Opportunity credit

Question 14
To calculate taxable income, which of the following must be subtracted from adjusted gross income?

    adjustments to income
    tax credits
    FICA payroll tax
    personal exemptions
Question 15
___________ taxes are used to finance Social Security and Medicare.

    FSSA
    FICA
    SIS
    FDIC
Question 16
Which of the following tax credits best applies to a parent of an undergraduate freshman?

    retirement savings contribution credit
    American Opportunity credit
    lifetime learning credit
    child tax credit

Question 17
Jim and Judy file taxes jointly as a married couple. They have a combined adjusted gross income of $97,651. They can claim two exemptions of $4,000 each. Their Schedule A itemized expenses are as follows: Interest on home mortgage, $11,986; Property taxes on home, $3,762; Total medical expenses, $1,345; and Charitable contributions, $900. What is their taxable income?

$71,648
    $73,903
    $81,003
    $73,003

Question 18
To which of the following does the marginal tax rate apply?
    last dollar of income
next dollar of income
    no dollars of income
    first dollar of income

Question 19
Your average tax rate will always be _______ your marginal rate.

    the difference between your taxable income and
    more than
    the same as
    less than or equal to

Question 20
Which of the following must be included in total income on federal income tax returns?

    child support received
    tips and bonuses
    worker's compensation benefits
    insurance claim payments

Question 21
Which of the following is the formula for calculating the average tax rate?

    taxes paid/taxable income
    taxes paid/ adjusted gross income
    taxable income/taxes paid
    adjusted gross income/ taxes paid

Question 22
If you made a mistake on last year's tax return, you would file a

    W4.
    1040A.
    1099.
    1040X.
    1040EZ

Question 23
The reduction in taxes owed as a result of a financial decision is known as the

    average tax effect.
    progressive tax effect.
    opportunity cost
    marginal tax effect.

Question 24
What is the FICA payroll tax used to pay for?
    neither Social Security nor Medicare
    Social Security
    both Social Security and Medicare
    Medicare

Question 25
Which of the following is an expense that is subtracted from total income to arrive at adjusted gross income?

    child care tax credit
    lottery winnings
    individual retirement account contributions up to the legal limit
    long-term capital gains