Question-1
The __________ oversees union elections, prevents employers and unions from engaging in illegal or unfair labor practices, and enforces and interprets certain federal labor laws.
A. NLRA
B. NLRB
C. AFL
D. CIO
Question-2
__________ discrimination occurs when an employer treats a specific individual less favorably than others because of that person's race, color, national origin, sex, or religion.
A. Disparate-treatment
B. Disparate-impact
C. Favored-treatment
D. Unfair-impact
Question-3
The __________ is a federal act legislated in 1970 that promotes safety in the workplace.
A. OSHA
B. FLSA
C. FMLA
D. ERISA
Question-4
According to the Department of Labor, children under the age of 14 can be employed only as __________.
A. stocking staff at stores
B. newspaper deliverers
C. waiters
D. store assistants
Question-5
A __________ is a deceit in which an agent makes an untrue statement that he or she knows is not true.
A. partially disclosed agency
B. misrepresentation
C. respondeat superior
D. dual-purpose mission
Question-6
A(n. __________ is a relationship formed when an employer hires an employee and gives that employee authority to act and enter into contracts on his or her behalf.
A. agent-independent contractor relationship
B. principal-agent relationship
C. agent-agent relationship
D. employer-employee relationship
Question-7
Which of the following is true regarding workers' compensation?
A. Families of workers cannot claim workers' compensation despite the death of the worker.
B. Workers' compensation is only awarded for injuries resulting from the job.
C. The claim for workers' compensation must be filed with the employer.
D. Workers' compensation is a fixed amount throughout the country.
Question-8
Which of the following is true regarding religious discrimination?
A. Only monotheistic religions are covered under Title VII.
B. An employer need not accommodate the religious observances or practices of its employees in the workplace.
C. An employee who claims religious discrimination cannot sue the employer for any other violation of Title VII.
D. Religious organizations can give preferential employment to individuals of a particular religion.
Question-9
Taylor gives power of attorney to his twin brother Corey, permitting Corey to make all decisions on his behalf while he is abroad. As per the terms of the power of attorney, Corey is allowed to make decisions to purchase or sell stocks on Taylor's behalf, sell Taylor's real estate if he deems it to be in Taylor's best interest, pursue or defend lawsuits on Taylor's behalf, and make all other relevant decisions for Taylor. What kind of power of attorney would confer such powers to Corey?
A. a special power of attorney
B. a limited power of attorney
C. an implied power of attorney
D. a general power of attorney
Question-10
An employer pays higher wages to Shelly—who has worked with the company for six years—than to Samuel, who holds a similar position and performs the same functions as Shelly, but who has worked with the company for only five and a half years. Which of the following is true of this case?
A. The employer has violated the Fair Employment Practices Act.
B. The employer is liable for disparate treatment discrimination.
C. The employer is liable for disparate impact discrimination.
D. The employer has not violated the Equal Pay Act.
Question-11
Which of the following is true regarding workers' compensation?
A. A worker must file a complaint with the police before claiming workers' compensation.
B. Workers' compensation is a provisional remedy, not an equitable remedy.
C. A worker who receives workers' compensation cannot sue his/her employer.
D. Workers' compensation is generally awarded as punitive damages in a lawsuit initiated by the injured employee.
Question-12
Which of the following is an instance of misuse of confidential information?
A. An agent gives the seller the principal's name and phone number in a fully disclosed transaction.
B. A principal gives the contact details of an agent to a third-party without the agent's knowledge.
C. An agent withholds critical information from the principal about the agency.
D. An agent divulges details of his past employer to his principal.
Question-13
Which of the following is considered an intentional tort?
A. negligence
B. innocent misrepresentation
C. fraud
D. dual-purpose mission
Question-14
Who is an agent?
A. a party who agrees to act on behalf of another
B. a party who employs another person to act on his or her behalf
C. a party who directs a worker under an express or implied contract of employment
D. a party who receives the services of another for remuneration
Question-15
Marcus employs a real estate broker, Dean, to sell his house. Dean's express powers are to advertise and market the house for sale, show the house to prospective buyers, and accept offers from people who want to purchase the house. He is not allowed to seal a deal without Marcus's consent. Marcus goes away on a month-long trip during which he cannot be contacted. During this time, a short circuit in the house causes a power outage. Dean uses his authority to hire an electrician to repair the circuits and restore electricity to the house. Marcus then comes back and pays Dean for the electricity repair. What is the nature of the agency that Dean used to fix the electricity problem in the house?
A. implied agency
B. agency by ratification
C. power of attorney
D. express agency
Question-16
Which of the following is an illegal strike?
A. sit-down strike on the employer's premises
B. absence from work
C. cessation of work
D. employer lockout
Question-17
If a business reasonably anticipates a strike by some of its employees, it may legally arrange a(n) __________ to prevent these employees from entering the work premises.
A. meeting
B. picketing
C. employer lockout
D. employee lockout
Question-18
Which of the following is the National Labor Relations Act of 1935 meant to do?
A. to regulate the internal affairs of each union
B. to represent employees according to their sectors of employment
C. to bargain collectively with employers
D. to equally represent every union member
Question-19
The act of negotiating contract terms between an employer and the members of a union is known as __________.
A. mediation
B. arbitration
C. collective bargaining
D. litigation
Question-20
A(n. __________ is a contract a principal and agent enter into that says the principal cannot employ another agent other than the one stated.
A. exclusive principal contract
B. exclusive agency contract
C. ratified contract
D. apparent agency contract
Question-21
A limited partnership has two types of partners, __________.
A. general partners and sole proprietors
B. general partners and limited partners
C. ordinary partners and liable partners
D. special partners and sole proprietors
Question-22
An association of two or more people to carry on as co-owners of a business for profit is known as a(n. __________.
A. limited partnership
B. sole proprietorship
C. corporation
D. general partnership
Question-23
A member's ownership interest in an LLC is called a __________.
A. certificate of interest
B. distributional interest
C. collateral interest
D. creditor's interest
Question-24
Which of the following is true for a corporation's incorporation into a state?
A. Domestic corporations can incorporate into only one state.
B. Domestic corporations can incorporate into all states that they conduct business in.
C. Alien corporations can only incorporate into one state.
D. Foreign corporations can incorporate into more than one state.
Question-25
A(n. __________ is a debt security with a maturity of five years or less.
A. bond
B. debenture
C. indenture
D. note
Question-26
A(n. __________ is a clause that can be included in the articles of incorporation that permit a corporation to engage in any activity permitted by law.
A. general purpose clause
B. limited purpose clause
C. dissolution clause
D. ultra vires clause
Question-27
Which of the following is true of general and limited partners in a limited partnership?
A. Limited partners are exempt from annual capital investment and need only participate in management functions.
B. General partners are not personally liable for partnership debts.
C. General partners are required to invest capital and refrain from managerial activities.
D. Limited partners are not personally liable for partnership debts beyond their capital contributions.
Question-28
Which of the following is a cause for the dissolution of a partnership?
A. written consent of the general partners
B. withdrawal of a general partner
C. withdrawal of all limited partners
D. acquisition of business by another partnership
Question-29
The certificate of interest acts the same as a(n. __________ issued by a corporation.
A. promissory note
B. stock certificate
C. deposit note
D. initial public offering
Question-30
Which of the following has a fixed maturity date?
A. bonds
B. common stocks
C. cumulative preferred stocks
D. participating preferred stocks
Question-31
In states where an LLC may be organized by only one member, __________ can obtain the benefit of the limited liability shield of an LLC.
A. corporations
B. sole proprietors
C. LLPs
D. general partnerships
Question-32
Which of the following governs a limited partnership, its internal affairs, and the liability of its limited partners?
A. the federal government
B. all states in which the business operates
C. the articles of limited partnership
D. the law of the state in which it is organized
Question-33
__________ is said to have occurred if a certificate of limited partnership was not properly filed.
A. Defective formation
B. Illegitimate partnership
C. Void partnership
D. Voidable association
Question-34
Which of the following is true of a business operating under sole proprietorship?
A. It is not considered a separate legal entity.
B. It cannot be sold when the owner decides to do so.
C. It requires governmental approval when being transferred.
D. It has access to unrestricted capital by means of investments.
Question-35
__________ is a moral concept which asserts that fairness is the essence of justice.
A. Kantian ethics
B. Moral relativism
C. Utilitarianism
D. Rawls's social justice theory
Question-36
A(n. __________ is a partnership created for a fixed duration.
A. partnership for a term
B. partnership at will
C. ordinary partnership
D. limited partnership
Question-37
A social responsibility theory of business which says that a corporation's duty is to make a profit while avoiding causing harm to others is referred to as __________.
A. stakeholder interest
B. corporate citizenship
C. maximizing profits
D. moral minimum
Question-38
__________ are corporations that have many shareholders and whose securities are often traded on national stock exchanges.
A. Closely held corporations
B. Non-profit corporations
C. Publicly held corporations
D. Shore-up corporations
Question-39
What is "maximizing profits" as a social responsibility theory in business?
A. The theory that a corporation must consider the effects its actions have on people other than its shareholders.
B. The theory that a corporation's duty is to make a profit while avoiding causing harm to others.
C. The theory that a corporation has a duty to take actions that increase profits for shareholders.
D. The theory that a business owes responsibility to its stakeholders rather than just its shareholders.
Question-40
__________ is/are a set of moral principles or values that governs the conduct of an individual or a group.
A. Rationality
B. Evolution
C. Ethics
D. Reasons
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