Identify an ethical problem that you have or are facing at work. Apply the 3-Step Problem-Solving Approach to resolve this dilemma. Do you find this approach to be effective in solving the ethical problem? Why or why not?
Tuesday, June 9, 2020
MGT312T Week 1 Apply Exercise With tip will get 100 PERCENT
Note:I got question 6 and 7 incorrect. I have marked incorrect options. So, you have only 2 options to choose from. As you have two attempts, you will certainly score 100 percent as one of two options of both questions are correct.
Question 1
This is a scenario, not question.
Assume you are a nursing director for a nursing home. You've been working at your facility for a few short months when you learn the company that owns the home has been improperly overbilling Medicare for the care and services provided to your residents. You bring this to the attention of the company's managers, but they do nothing. You then notify the appropriate authorities (becoming a whistle-blower) and, dismayed by the fraud and other problems, you quit.
Question 2
Why are ethics considered so important when studying organizational behavior?
Unethical behavior makes it easy to influence others and conduct business.
Unethical behavior can ensure loyalty, which helps the performance of individuals and teams
You will be confronted with ethical challenges at all levels of organizations and throughout your career
Unethical acts are not illegal and can benefit the company
Question 3
The contingency approach suggests that
there is one best way to manage
OB theories apply to all situations
a manager needs to learn a set of hard-and-fast rules
the best answer depends on the situation
Question 4
Overcharging Medicare for care and services provided to patients is an example of ______ behavior
rational
unbiased
unethical
illegal
organizational
Question 5
Ethics is primarily concerned with
right and wrong
legal and illegal
moral and immoral
religious and nonreligious
Question 6
In an ethical dilemma such as the one presented above
there are two choices, neither of which resolves the situation in an ethically acceptable manner
there are two choices, either of which resolves the situation in an ethically acceptable manner
there are two choices, one of which resolves the situation in an ethically acceptable manner(Incorrect)
there is only one choice(Incorrect)
Question 7
In the case above, this presents a(n) _____
ethical dilemma(Incorrect)
desired outcome (Incorrect)
systematic approach
goal
Question 8
The case above represents an extreme example of unethical and illegal conduct. These are the exception in the business community. Which of the following statements about this behavior is false?
Very few unethical acts are also illegal
Most unethical acts are not punished in any way
Even if illegal, few of these acts are prosecuted
You can rely on the legal system to manage or assure ethical conduct at work
Question 9
Problem solving and critical thinking are ______ because they use logic and reasoning to develop and evaluate options
technical skills
soft skills
common sense
hard skills
Question 1
This is a scenario, not question.
Assume you are a nursing director for a nursing home. You've been working at your facility for a few short months when you learn the company that owns the home has been improperly overbilling Medicare for the care and services provided to your residents. You bring this to the attention of the company's managers, but they do nothing. You then notify the appropriate authorities (becoming a whistle-blower) and, dismayed by the fraud and other problems, you quit.
Question 2
Why are ethics considered so important when studying organizational behavior?
Unethical behavior makes it easy to influence others and conduct business.
Unethical behavior can ensure loyalty, which helps the performance of individuals and teams
You will be confronted with ethical challenges at all levels of organizations and throughout your career
Unethical acts are not illegal and can benefit the company
Question 3
The contingency approach suggests that
there is one best way to manage
OB theories apply to all situations
a manager needs to learn a set of hard-and-fast rules
the best answer depends on the situation
Question 4
Overcharging Medicare for care and services provided to patients is an example of ______ behavior
rational
unbiased
unethical
illegal
organizational
Question 5
Ethics is primarily concerned with
right and wrong
legal and illegal
moral and immoral
religious and nonreligious
Question 6
In an ethical dilemma such as the one presented above
there are two choices, neither of which resolves the situation in an ethically acceptable manner
there are two choices, either of which resolves the situation in an ethically acceptable manner
there are two choices, one of which resolves the situation in an ethically acceptable manner(Incorrect)
there is only one choice(Incorrect)
Question 7
In the case above, this presents a(n) _____
ethical dilemma(Incorrect)
desired outcome (Incorrect)
systematic approach
goal
Question 8
The case above represents an extreme example of unethical and illegal conduct. These are the exception in the business community. Which of the following statements about this behavior is false?
Very few unethical acts are also illegal
Most unethical acts are not punished in any way
Even if illegal, few of these acts are prosecuted
You can rely on the legal system to manage or assure ethical conduct at work
Question 9
Problem solving and critical thinking are ______ because they use logic and reasoning to develop and evaluate options
technical skills
soft skills
common sense
hard skills
ETH321T Week 5 Discussion
Select a company with an international presence that you are familiar with or by searching the internet. Identify the laws, treaties, acts, and governing bodies (e.g. U.N., WTO, and IMF) that impact their business. Explain the impact these laws, treaties, acts, and governing bodies have on their business. Differentiate it with their business in the United States.
ETH321T Week 5 Apply Exercise SCORE 67 PERCENT
•Millitech is a sports equipment manufacturer. It wants to form a merger with an athletic wear company. This would be a __________ merger.
• Vertical
• Conglomerate
• Market extension
• Horizontal
• A government agency which administers rules concerning clean housing projects wants to specify and explain the language it uses to communicate with the public and enforce its statutes. Which of the following is true?
• The agency must have a public hearing where it explains the statutory language it uses. (Incorect)
• The agency does not need to invite public opinion on the information it will post.
• The agency must hold a public comment period for the public to weigh in on the impact and details of the statute.
Feedback
0 / 4 (0.0%)
• Decide the legality of the company's decision or action in the following situation:
Vericorp wants to increase its profitability. It rearranges its distribution services so that it can serve customers in certain areas better, while leaving other areas where competitors are stronger unattended. The company makes no agreement with a competitor in doing so. Which of the following is true of this action?
• This is legal as long as no agreements are made with a competitor.
• This is legal.
• This may be illegal under the rule of reason.
• This is illegal per se.
Feedback
4 / 4 (100.0%)
•Funtech is a toy manufacturer. It wants to form a merger with one of the toy stores that buys its toys. This would be a __________ merger.
• Vertical
• Conglomerate
• Market extension
• Horizontal
Feedback
4 / 4 (100.0%)
• Identify the trade-restraining practice that this example demonstrates.
The CEOs of two pharmaceutical companies are having lunch. They discuss the unfair costs of ordering from a manufacturer that supplies to both companies. The CEOs decide that they will no longer work with the unfair pricing of the manufacturer.
• Division of markets
• Illegal boycott
• Price fixing
• Controlling output
• No illegal practice
Feedback
4 / 4 (100.0%)
•Blinkorp is selling toys to retailers across the nation. Depending on the season, the company may make its toys with either higher-cost domestic plastics or lower-cost foreign plastics. The retailers who purchase from Blinkorp complain about the different prices caused by the differently-priced materials. Which of the following is true?
• Blinkorp is justified in charging different prices because the toy industry is so flexible and fluid.
• Blinkorp is engaging in price discrimination against the retailers and must equalize its prices.
• Blinkorp is justified in charging different prices because of the differing production costs.
• Blinkorp is justified in charging different prices because it needs to meet the price of competition nationwide.
Feedback
4 / 4 (100.0%)
• For the scenario below, determine the legality of the company's actions.
Ioncorp sells cabinets nationwide to the furniture company Blinkorp. It makes an agreement that Blinkorp will only sell Ioncorp cabinets in its warehouses.
• Most likely legal (Incorrect)
• Illegal, depending on impact
• Impossible to determine legality
• Strictly illegal
Feedback
0 / 4 (0.0%)
• For the scenario below, determine the legality of the company's actions.
Wreckorp wants to maintain an exclusivity image for its product line of sports equipment. It limits its distribution to 100 stores in each region.
• Impossible to determine legality
• Strictly illegal
• Illegal, depending on impact (Incorrect)
• Most likely legal
Feedback
0 / 4 (0.0%)
•Gilcorp wants to increase its profitability. It tries to gain new customers by offering a cash bonus to customers who switch to its service from another company. Which of the following is true of this action?
• This may be illegal under the rule of reason.
• This is illegal per se.
• This is legal.
• This is legal as long as no agreements are made with a competitor.
Feedback
4 / 4 (100.0%)
•Millcorp sells wetsuits for deep sea divers. It recently engineered a new material for its wetsuits to better hold in the wearer's body heat. After a close encounter with a shark, a customer discovers that the new material protects against shark bites. Soon after, Millcorp's sales explode and it achieves 90% market share in diver wetsuits. Which of the following best describes this situation?
• Millcorp does not have a monopoly.
• Millcorp has a lawful natural monopoly
• Millcorp has a lawful innocent acquisition of a monopoly.
• Millcorp can likely be found guilty of pursuing monopoly power.
Feedback
4 / 4 (100.0%)
• Identify the trade-restraining practice that this example demonstrates.
Tubifor, Inc. purchases all available imported lumber so it can resell it at a quantity and rate that it prefers.
• Controlling output (Incorrect)
• Division of markets
• No illegal practice
• Illegal boycott
• Price fixing
Feedback
0 / 4 (0.0%)
•Flippatech is a home furnishings manufacturer. It wants to form a merger with SleepzCorp, another home furnishings manufacturer. This would be a __________ merger.
• Market extension
• Vertical
• Conglomerate
• Horizontal
Feedback
4 / 4 (100.0%)
• Identify the trade-restraining practice that this example demonstrates.
Two retailers decide that they will both sell no more than 100 premium TVs per month in order to maintain the quality image of the TVs.
• Price fixing
• Division of markets
• No illegal practice
• Controlling output
• Illegal boycott
Feedback
4 / 4 (100.0%)
• Identify the trade-restraining practice that this example demonstrates.
Company A and Company B both work in the candy industry. They agree that Company A will only sell chocolate to Company C and Company B will only sell fruit candies to Company C.
• Illegal boycott
• Division of markets
• Price fixing
• No illegal practice
• Controlling output
Feedback
4 / 4 (100.0%)
• Identify the trade-restraining practice that this example demonstrates.
Company A and Company B discuss average industry prices.
• Price fixing
• Controlling output
• Division of markets
• Illegal boycott
• No illegal practice
Feedback
4 / 4 (100.0%)
• Bernie just started a business and is trying to raise capital. He has both accredited and non-accredited investors investing in the company. What constraints on investments for new businesses apply here?
• Investors may invest a combined $50 million within a 12-month period.
• Investors' allowable investment depends on the accredited or non-accredited status.
• Investors may invest no more than $1 million combined for the first year of the business.
Feedback
4 / 4 (100.0%)
• Horace is trying to start a business. He knows several accredited investors who he knows will help him jumpstart his business. What constraints on investments for new businesses apply here?
• Investors may invest a combined $50 million within a 12-month period.
• Investors' allowable investment depends on the accredited or non-accredited status.
• Investors may invest no more than $1 million combined for the first year of the business.
Feedback
4 / 4 (100.0%)
•Gillcore is about to go public and begin selling securities. As a new public company, what steps must Gillcore take in order to stay in line with the requirements of the Securities Act?
• This company must file a registration statement and prospectus with the SEC.
• As a new public company it does not need to take any special action.
• The company's obligations depend on what type of company it is and what type of securities it is offering.
Feedback
4 / 4 (100.0%)
• Wendy wants to start a business. She knows many unaccredited investors who she knows will help her jumpstart her business. What constraints on investments for new businesses apply here?
• Investors may invest no more than $1 million combined for the first year of the business.
• Investors may invest a combined $50 million within a 12-month period.
• Investors' allowable investment depends on the accredited or non-accredited status.
Feedback
4 / 4 (100.0%)
•Jewelcorp just began trading securities. The company is a closely-held corporation with several dozen shareholders and $10 million in assets. Which of the following is true concerning the company's requirement to report to the SEC?
• Must file annual and quarterly financial reports
• Requirement to file depends on the company's assets and shareholder base. (Incorrect)
• Required to report major business developments and must file annual and quarterly financial reports.
• Not required to report information to the SEC.
Feedback
0 / 4 (0.0%)
•Fancorp regularly trades in securities on a national exchange. Which of the following is true concerning the company's requirement to report to the SEC?
• Required to report major business developments and must file annual and quarterly financial reports. (Incorrect)
• Not required to report information to the SEC.
• Must file annual and quarterly financial reports
• Requirement to file depends on the company's assets and shareholder base.
Feedback
0 / 4 (0.0%)
• Which of the following places the events in the correct order?
• Concept release; Rule proposal; Public comment period; Amendment of rule proposal; Rule adoption
• Amendment of rule proposal; Rule adoption; Concept release; Rule proposal; Public comment period
• Public comment period; Concept release; Rule proposal; Amendment of rule proposal; Rule adoption
• Rule adoption; Concept release; Rule proposal; Public comment period; Amendment of rule proposal
Feedback
4 / 4 (100.0%)
• Bekah is an adviser for the company Vicoltech, which deals heavily in investments. Bekah also advises several other clients in her state, but no clients outside of her state. Before the Dodd-Frank Act was passed, Bekah was exempt from registration and reporting requirements with the SEC. When the Dodd-Frank Act was passed:
• Bekah was required to begin reporting information to the SEC.
• Bekah was still exempt from the SEC's reporting requirements.
• Bekah was required to register with the SEC, but not required to report information to the SEC. (Incorrect)
• Indeterminable with current information
Feedback
0 / 4 (0.0%)
To fully grasp this question, we must revisit the section that states that advisers only working with clients in their same state of operation were exempted from reporting requirements with the SEC.
• Kathleen works for an accounting firm, Securate, as an auditor. Kathleen's firm provides many services including auditing services, investment consulting, and tax assistance. Kathleen is working on an audit for a company that Securate also does consulting for. Which of the following is true?
• Kathleen may assist in consulting services for the company as long as she makes notice of a conflict of interest. (Incorrect)
• Kathleen may assist in consulting services for the company without restriction.
• Kathleen may not assist in consulting for the company.
• Kathleen may not assist in consulting services for the company unless she is an officer in the company.
Feedback
0 / 4 (0.0%)
Under SOX, auditors may not serve in other roles for their companies.
• Nation A has a contract with Nation B which it breaks. The International Court of Justice is asked to offer a decision resolving the matter. Which of the following is false?
• The ICJ will not hear the case if a party is not a UN member state. (Incorrect)
• The ICJ can bind Nations A and B to an agreement even if there is no legal precedent for the situation.
• The ICJ will examine the custom of law used heretofore to help determine the right decision.
• ICJ cannot deviate from similar decisions it has made on contract breaches before.
Feedback
0 / 4 (0.0%)
The ICJ is not required to follow precedent.
• Determine the legality of the transaction.
KlineCorp wants to conduct business with Company B in another country. While visiting Company B, the management team of Company A offers some of the foreign employees some free products from their company.
• Illegal bribe
• Legal bribe
• Legal or illegal, depending on the purpose
Feedback
4 / 4 (100.0%)
• Determine the legality of the transaction.
Tichatech is trying to pierce the global marketplace. When the CEO meets with a foreign prime minister, he offers him a vacation package to show his goodwill toward the country.
• Legal or illegal, depending on the purpose (Incorrect)
• Legal bribe
• Illegal bribe
Feedback
0 / 4 (0.0%)
• Nation A has a political dispute with Nation B. The nations are at odds, but they agree to let a mediator hear the dispute. Which group would hear and decide on the nations' dispute?
• The General Assembly
• The Secretariat
• The International Court of Justice
• The Security Council
Feedback
4 / 4 (100.0%)
• Nation A is new at developing monetary policy and lacks the expertise to develop a high-performing financial system. It would look to _______ for assistance.
• The Bank for International Settlement
• The International Monetary Fund
• The World Bank
Feedback
4 / 4 (100.0%)
• Nation A has expansive manufacturing capabilities, and, therefore, its economy focuses on selling goods to other countries. Country B buys goods from Country A but can't pay for the goods until it makes money from its own exports. It would look to _______ for assistance.
• The Bank for International Settlement
• The International Monetary Fund
• The World Bank
Feedback
4 / 4 (100.0%)
• Vertical
• Conglomerate
• Market extension
• Horizontal
• A government agency which administers rules concerning clean housing projects wants to specify and explain the language it uses to communicate with the public and enforce its statutes. Which of the following is true?
• The agency must have a public hearing where it explains the statutory language it uses. (Incorect)
• The agency does not need to invite public opinion on the information it will post.
• The agency must hold a public comment period for the public to weigh in on the impact and details of the statute.
Feedback
0 / 4 (0.0%)
• Decide the legality of the company's decision or action in the following situation:
Vericorp wants to increase its profitability. It rearranges its distribution services so that it can serve customers in certain areas better, while leaving other areas where competitors are stronger unattended. The company makes no agreement with a competitor in doing so. Which of the following is true of this action?
• This is legal as long as no agreements are made with a competitor.
• This is legal.
• This may be illegal under the rule of reason.
• This is illegal per se.
Feedback
4 / 4 (100.0%)
•Funtech is a toy manufacturer. It wants to form a merger with one of the toy stores that buys its toys. This would be a __________ merger.
• Vertical
• Conglomerate
• Market extension
• Horizontal
Feedback
4 / 4 (100.0%)
• Identify the trade-restraining practice that this example demonstrates.
The CEOs of two pharmaceutical companies are having lunch. They discuss the unfair costs of ordering from a manufacturer that supplies to both companies. The CEOs decide that they will no longer work with the unfair pricing of the manufacturer.
• Division of markets
• Illegal boycott
• Price fixing
• Controlling output
• No illegal practice
Feedback
4 / 4 (100.0%)
•Blinkorp is selling toys to retailers across the nation. Depending on the season, the company may make its toys with either higher-cost domestic plastics or lower-cost foreign plastics. The retailers who purchase from Blinkorp complain about the different prices caused by the differently-priced materials. Which of the following is true?
• Blinkorp is justified in charging different prices because the toy industry is so flexible and fluid.
• Blinkorp is engaging in price discrimination against the retailers and must equalize its prices.
• Blinkorp is justified in charging different prices because of the differing production costs.
• Blinkorp is justified in charging different prices because it needs to meet the price of competition nationwide.
Feedback
4 / 4 (100.0%)
• For the scenario below, determine the legality of the company's actions.
Ioncorp sells cabinets nationwide to the furniture company Blinkorp. It makes an agreement that Blinkorp will only sell Ioncorp cabinets in its warehouses.
• Most likely legal (Incorrect)
• Illegal, depending on impact
• Impossible to determine legality
• Strictly illegal
Feedback
0 / 4 (0.0%)
• For the scenario below, determine the legality of the company's actions.
Wreckorp wants to maintain an exclusivity image for its product line of sports equipment. It limits its distribution to 100 stores in each region.
• Impossible to determine legality
• Strictly illegal
• Illegal, depending on impact (Incorrect)
• Most likely legal
Feedback
0 / 4 (0.0%)
•Gilcorp wants to increase its profitability. It tries to gain new customers by offering a cash bonus to customers who switch to its service from another company. Which of the following is true of this action?
• This may be illegal under the rule of reason.
• This is illegal per se.
• This is legal.
• This is legal as long as no agreements are made with a competitor.
Feedback
4 / 4 (100.0%)
•Millcorp sells wetsuits for deep sea divers. It recently engineered a new material for its wetsuits to better hold in the wearer's body heat. After a close encounter with a shark, a customer discovers that the new material protects against shark bites. Soon after, Millcorp's sales explode and it achieves 90% market share in diver wetsuits. Which of the following best describes this situation?
• Millcorp does not have a monopoly.
• Millcorp has a lawful natural monopoly
• Millcorp has a lawful innocent acquisition of a monopoly.
• Millcorp can likely be found guilty of pursuing monopoly power.
Feedback
4 / 4 (100.0%)
• Identify the trade-restraining practice that this example demonstrates.
Tubifor, Inc. purchases all available imported lumber so it can resell it at a quantity and rate that it prefers.
• Controlling output (Incorrect)
• Division of markets
• No illegal practice
• Illegal boycott
• Price fixing
Feedback
0 / 4 (0.0%)
•Flippatech is a home furnishings manufacturer. It wants to form a merger with SleepzCorp, another home furnishings manufacturer. This would be a __________ merger.
• Market extension
• Vertical
• Conglomerate
• Horizontal
Feedback
4 / 4 (100.0%)
• Identify the trade-restraining practice that this example demonstrates.
Two retailers decide that they will both sell no more than 100 premium TVs per month in order to maintain the quality image of the TVs.
• Price fixing
• Division of markets
• No illegal practice
• Controlling output
• Illegal boycott
Feedback
4 / 4 (100.0%)
• Identify the trade-restraining practice that this example demonstrates.
Company A and Company B both work in the candy industry. They agree that Company A will only sell chocolate to Company C and Company B will only sell fruit candies to Company C.
• Illegal boycott
• Division of markets
• Price fixing
• No illegal practice
• Controlling output
Feedback
4 / 4 (100.0%)
• Identify the trade-restraining practice that this example demonstrates.
Company A and Company B discuss average industry prices.
• Price fixing
• Controlling output
• Division of markets
• Illegal boycott
• No illegal practice
Feedback
4 / 4 (100.0%)
• Bernie just started a business and is trying to raise capital. He has both accredited and non-accredited investors investing in the company. What constraints on investments for new businesses apply here?
• Investors may invest a combined $50 million within a 12-month period.
• Investors' allowable investment depends on the accredited or non-accredited status.
• Investors may invest no more than $1 million combined for the first year of the business.
Feedback
4 / 4 (100.0%)
• Horace is trying to start a business. He knows several accredited investors who he knows will help him jumpstart his business. What constraints on investments for new businesses apply here?
• Investors may invest a combined $50 million within a 12-month period.
• Investors' allowable investment depends on the accredited or non-accredited status.
• Investors may invest no more than $1 million combined for the first year of the business.
Feedback
4 / 4 (100.0%)
•Gillcore is about to go public and begin selling securities. As a new public company, what steps must Gillcore take in order to stay in line with the requirements of the Securities Act?
• This company must file a registration statement and prospectus with the SEC.
• As a new public company it does not need to take any special action.
• The company's obligations depend on what type of company it is and what type of securities it is offering.
Feedback
4 / 4 (100.0%)
• Wendy wants to start a business. She knows many unaccredited investors who she knows will help her jumpstart her business. What constraints on investments for new businesses apply here?
• Investors may invest no more than $1 million combined for the first year of the business.
• Investors may invest a combined $50 million within a 12-month period.
• Investors' allowable investment depends on the accredited or non-accredited status.
Feedback
4 / 4 (100.0%)
•Jewelcorp just began trading securities. The company is a closely-held corporation with several dozen shareholders and $10 million in assets. Which of the following is true concerning the company's requirement to report to the SEC?
• Must file annual and quarterly financial reports
• Requirement to file depends on the company's assets and shareholder base. (Incorrect)
• Required to report major business developments and must file annual and quarterly financial reports.
• Not required to report information to the SEC.
Feedback
0 / 4 (0.0%)
•Fancorp regularly trades in securities on a national exchange. Which of the following is true concerning the company's requirement to report to the SEC?
• Required to report major business developments and must file annual and quarterly financial reports. (Incorrect)
• Not required to report information to the SEC.
• Must file annual and quarterly financial reports
• Requirement to file depends on the company's assets and shareholder base.
Feedback
0 / 4 (0.0%)
• Which of the following places the events in the correct order?
• Concept release; Rule proposal; Public comment period; Amendment of rule proposal; Rule adoption
• Amendment of rule proposal; Rule adoption; Concept release; Rule proposal; Public comment period
• Public comment period; Concept release; Rule proposal; Amendment of rule proposal; Rule adoption
• Rule adoption; Concept release; Rule proposal; Public comment period; Amendment of rule proposal
Feedback
4 / 4 (100.0%)
• Bekah is an adviser for the company Vicoltech, which deals heavily in investments. Bekah also advises several other clients in her state, but no clients outside of her state. Before the Dodd-Frank Act was passed, Bekah was exempt from registration and reporting requirements with the SEC. When the Dodd-Frank Act was passed:
• Bekah was required to begin reporting information to the SEC.
• Bekah was still exempt from the SEC's reporting requirements.
• Bekah was required to register with the SEC, but not required to report information to the SEC. (Incorrect)
• Indeterminable with current information
Feedback
0 / 4 (0.0%)
To fully grasp this question, we must revisit the section that states that advisers only working with clients in their same state of operation were exempted from reporting requirements with the SEC.
• Kathleen works for an accounting firm, Securate, as an auditor. Kathleen's firm provides many services including auditing services, investment consulting, and tax assistance. Kathleen is working on an audit for a company that Securate also does consulting for. Which of the following is true?
• Kathleen may assist in consulting services for the company as long as she makes notice of a conflict of interest. (Incorrect)
• Kathleen may assist in consulting services for the company without restriction.
• Kathleen may not assist in consulting for the company.
• Kathleen may not assist in consulting services for the company unless she is an officer in the company.
Feedback
0 / 4 (0.0%)
Under SOX, auditors may not serve in other roles for their companies.
• Nation A has a contract with Nation B which it breaks. The International Court of Justice is asked to offer a decision resolving the matter. Which of the following is false?
• The ICJ will not hear the case if a party is not a UN member state. (Incorrect)
• The ICJ can bind Nations A and B to an agreement even if there is no legal precedent for the situation.
• The ICJ will examine the custom of law used heretofore to help determine the right decision.
• ICJ cannot deviate from similar decisions it has made on contract breaches before.
Feedback
0 / 4 (0.0%)
The ICJ is not required to follow precedent.
• Determine the legality of the transaction.
KlineCorp wants to conduct business with Company B in another country. While visiting Company B, the management team of Company A offers some of the foreign employees some free products from their company.
• Illegal bribe
• Legal bribe
• Legal or illegal, depending on the purpose
Feedback
4 / 4 (100.0%)
• Determine the legality of the transaction.
Tichatech is trying to pierce the global marketplace. When the CEO meets with a foreign prime minister, he offers him a vacation package to show his goodwill toward the country.
• Legal or illegal, depending on the purpose (Incorrect)
• Legal bribe
• Illegal bribe
Feedback
0 / 4 (0.0%)
• Nation A has a political dispute with Nation B. The nations are at odds, but they agree to let a mediator hear the dispute. Which group would hear and decide on the nations' dispute?
• The General Assembly
• The Secretariat
• The International Court of Justice
• The Security Council
Feedback
4 / 4 (100.0%)
• Nation A is new at developing monetary policy and lacks the expertise to develop a high-performing financial system. It would look to _______ for assistance.
• The Bank for International Settlement
• The International Monetary Fund
• The World Bank
Feedback
4 / 4 (100.0%)
• Nation A has expansive manufacturing capabilities, and, therefore, its economy focuses on selling goods to other countries. Country B buys goods from Country A but can't pay for the goods until it makes money from its own exports. It would look to _______ for assistance.
• The Bank for International Settlement
• The International Monetary Fund
• The World Bank
Feedback
4 / 4 (100.0%)
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.
•
•
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
•
•
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
•
•
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
•
•
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.
•
•
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
•
•
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
•
•
What type of crime is petty theft?
• Felony
• Misdemeanor
• Infraction
• Capital Crime
•
•
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
•
•
What type of crime is money laundering?
• Capital Crime
• Felony
• Misdemeanor
• Infraction
•
•
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.
•
•
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.
•
•
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
•
•
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)
•
•
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
•
•
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)
•
•
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
•
•
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
•
•
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.
•
•
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
•
•
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.
•
•
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
•
•
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.
•
•
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.
•
•
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
•
•
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
•
•
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.
•
•
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
•
•
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
•
•
Training opportunities are what kind of a bargaining subject?
• Permissive bargaining subject
• Mandatory bargaining subject
• Illegal bargaining subject
•
•
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
•
•
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.
•
•
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
•
•
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.
•
•
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)
•
•
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
•
•
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
•
•
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.
•
•
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.
•
•
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.
• 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.
•
•
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
•
•
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
•
•
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
•
•
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.
•
•
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
•
•
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
•
•
What type of crime is petty theft?
• Felony
• Misdemeanor
• Infraction
• Capital Crime
•
•
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
•
•
What type of crime is money laundering?
• Capital Crime
• Felony
• Misdemeanor
• Infraction
•
•
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.
•
•
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.
•
•
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
•
•
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)
•
•
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
•
•
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)
•
•
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
•
•
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
•
•
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.
•
•
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
•
•
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.
•
•
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
•
•
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.
•
•
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.
•
•
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
•
•
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
•
•
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.
•
•
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
•
•
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
•
•
Training opportunities are what kind of a bargaining subject?
• Permissive bargaining subject
• Mandatory bargaining subject
• Illegal bargaining subject
•
•
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
•
•
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.
•
•
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
•
•
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.
•
•
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)
•
•
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
•
•
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
•
•
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.
•
•
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.
•
•
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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3 / 3 (100.0%)
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 / 3 (100.0%)
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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3 / 3 (100.0%)
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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3 / 3 (100.0%)
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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3 / 3 (100.0%)
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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3 / 3 (100.0%)
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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3 / 3 (100.0%)
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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3 / 3 (100.0%)
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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3 / 3 (100.0%)
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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3 / 3 (100.0%)
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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3 / 3 (100.0%)
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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3 / 3 (100.0%)
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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3 / 3 (100.0%)
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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3 / 3 (100.0%)
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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0 / 3 (0.0%)
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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0 / 3 (0.0%)
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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3 / 3 (100.0%)
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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3 / 3 (100.0%)
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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3 / 3 (100.0%)
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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3 / 3 (100.0%)
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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3 / 3 (100.0%)
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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3 / 3 (100.0%)
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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3 / 3 (100.0%)
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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3 / 3 (100.0%)
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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0 / 3 (0.0%)
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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3 / 3 (100.0%)
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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3 / 3 (100.0%)
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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0 / 3 (0.0%)
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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3 / 3 (100.0%)
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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3 / 3 (100.0%)
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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3 / 3 (100.0%)
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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3 / 3 (100.0%)
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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0 / 3 (0.0%)
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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3 / 3 (100.0%)
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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3 / 3 (100.0%)
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
Feedback
3 / 3 (100.0%)
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
Feedback
3 / 3 (100.0%)
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
Feedback
3 / 3 (100.0%)
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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3 / 3 (100.0%)
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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3 / 3 (100.0%)
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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3 / 3 (100.0%)
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.
Feedback
3 / 3 (100.0%)
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.
Feedback
3 / 3 (100.0%)
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
Feedback
3 / 3 (100.0%)
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.
Feedback
3 / 3 (100.0%)
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.
Feedback
3 / 3 (100.0%)
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
Feedback
3 / 3 (100.0%)
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
Feedback
3 / 3 (100.0%)
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
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
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