Question-1
Which of the following is true regarding the Endangered Species Act?
A. It is the only federal law that protects wildlife at present.
B. It empowers the secretary of the interior to declare a form of wildlife as endangered.
C. It does not include marine species and amphibian life forms.
D. It applies only to the government taking of any endangered species.
Question-2
Federal administrative agencies are created by __________.
A. the U.S. President
B. the U.S. Congress
C. general public elections
D. the U.S. judiciary
Question-3
Which of the following is true with regard to price fixing?
A. Price fixing is a reasonable violation of Section I of the Sherman Act.
B. Price fixing is a process seen exclusively among sellers of goods and services.
C. Price fixing is permissible as it helps consumers or protects competitors from ruinous competition.
D. Price fixing also involves fixing the quantity of a product or service to be produced or provided.
Question-4
What is a vertical merger?
A. merger between firms in totally unrelated businesses
B. merger between the operations of a supplier and a customer
C. merger between two companies in similar fields whose sales do not overlap
D. merger between two or more companies that compete in the same geographical market
Question-5
The Superfund Act, administered by the EPA, gives the federal government a mandate to __________.
A. establish marine sanctuaries in ocean waters as far seaward as the edge of the continental shelf
B. impose fines on buildings and offices that cause harm to their occupants due to indoor air pollution
C. clean up hazardous wastes that have been spilled, stored, or abandoned
D. set standards on toxic substances that can be used or sold
Question-6
__________ requires the respondent to be given proper and timely notice of the allegations or charges against him or her as well as an opportunity to present evidence on the matter.
A. Interpretive rule
B. Substantive due process (This is incorrect)
C. Procedural due process
D. Code of operation
Question-7
The __________ is a federal statute passed in 1990 that requires food manufacturers and processors to provide nutrition information on many foods and prohibits them from making scientifically unsubstantiated health claims.
A. Food, Drug, and Cosmetic Act
B. Health Care and Education Reconciliation Act
C. Nutrition Labeling and Education Act
D. Patient Protection and Affordable Care Act
Question-8
The __________ is a federal administrative agency created by Congress to coordinate the implementation and enforcement of federal environmental protection laws.
A. Ministry of Environmental Protection
B. Environmental Investigation Agency
C. Environmental Protection Agency
D. Global Environment Facility
Question-9
__________ establishes the protocol that must be followed by an administrative agency while enforcing substantive laws.
A. Formal ruling
B. Substantive administrative law
C. Procedural administrative law
D. Informal ruling
Question-10
The Consumer Product Safety Commission is __________.
A. a communion of two state-funded regulatory bodies working together to ensure consumer safety
B. a federal body created to ensure the safety of a few consumer products like motor vehicles, boats, aircraft, and firearms
C. an independent federal administrative agency that regulates potentially dangerous consumer products
D. a federal agency working to ensure product safety standards for food, poultry, medicines, and medical devices
Question-11
A geographical area that does not meet established air quality standards is designated as a(n. __________.
A. limited pollution area
B. nonattainment area
C. zoned ordinance area
D. federal regulation area
Question-12
If a food product is released with a controversial new preservative, which of the following provisions of the NLEA would help consumers identify the banned preservative prior to consumption?
A. condemnation of unfit food products
B. disclosure of information on food labels
C. inspection of storage facilities
D. initiating legal proceedings against violators
Question-13
Which of the following is a primary cause of sick building syndrome in the United States?
A. large number of outside ducts
B. unsealed windows
C. thinly insulated buildings
D. hazardous construction materials
Question-14
The Food, Drug, and Cosmetic Act is a federal statute that __________.
A. covers all food products including poultry and processed meat
B. grants approval for food additives, drugs, cosmetics, and medicinal devices
C. implements the Federal Meat Inspection Act enacted in 1906
D. protects the public by providing greater medical coverage of food-related illnesses
Question-15
General government regulation consists of laws that regulate __________.
A. the legislative branch of the federal government
B. government-aided organizations
C. the executive branch of the federal government
D. businesses and industries
Question-16
Which of the following is true regarding antitrust laws?
A. Antitrust laws are fixed and unchangeable.
B. Each new administration adopts a different policy for enforcing antitrust laws.
C. Federal antitrust laws provide for government lawsuits and exclude private lawsuits from their purview.
D. Treble damages cannot be sought in antitrust lawsuits.
Question-17
Which of the following would be considered a stationary source of air pollution?
A. aircrafts
B. oil rigs
C. cargo ships
D. automobiles
Question-18
What is the importance of the Biosafety Protocol prescribed by the UN?
A. It dictates the terms and conditions for the production of genetically modified food.
B. It prevents people from differentiating between normal and organic food.
C. It notifies people of the presence of genetically modified food in the market.
D. It assures people of the quality of food by providing details of its testing process.
Question-19
Which of the following is true of the Insecticide, Fungicide, and Rodenticide Act?
A. It only allows government-manufactured pesticides to be sold.
B. It requires all pesticides to be registered with the EPA.
C. It cannot suspend the registration of an already registered pesticide.
D. It allows non-registered pesticides to be sold only with the close monitoring of the EPA.
Question-20
__________ are a series of laws enacted to specifically limit anticompetitive behavior and monopolistic practices in almost all industries, businesses, and professions operating in the United States.
A. Contract laws
B. Antitrust laws
C. Laissez-faire laws
D. Canon laws
Question-21
What is a warehouse receipt?
A. A receipt received by a warehouse after the bailor has retrieved the bailed goods and a payment has been made.
B. A document of title issued by a warehouse company stating that the bailor has title to the bailed goods.
C. A certificate of authenticity issued by a warehouse stating that it is certified to hold bailed goods.
D. An inventory list provided to a warehouse company by the bailor of the bailed goods.
Question-22
Which of the following is true of the ownership rights of an abandoned property?
A. The finder and owner must share ownership of the property.
B. The finder acquires title to the property, even against its original owner.
C. The owner can reclaim his or her property completely from the finder.
D. The owner of the premises where property is mislaid is entitled to possession but cannot acquire title.
Question-23
Which of the following is true about real property?
A. Real property refers to personal property permanently attached to a land.
B. Real property can be either tangible or intangible property.
C. Real property cannot become personal property under any circumstances.
D. Real property includes land with property permanently attached to it.
Question-24
Tangible property (such as automobiles, furniture, and equipment) and intangible property (such as securities, patents, and copyrights) are collectively referred to as __________.
A. real property
B. immovable property
C. personal property
D. fixtures
Question-25
Which of the following is true of ownership titles when confusion occurs?
A. Title to the goods can never be shared between the owners involved.
B. Title to goods commingled without permission goes to the innocent party.
C. Title to the goods cannot be acquired by confusion.
D. Title to goods can only be acquired if the goods were commingled by accident.
Question-26
__________ is a method of acquiring ownership that involves a manufacturer purchasing raw materials and then manufacturing a finished good.
A. Gifting
B. Producing
C. Capturing
D. Purchasing
Question-27
What is a quiet title action?
A. a lawsuit to determine the rightful owner of a disputed property and his/her rights
B. a lawsuit to enforce the right to survivorship for the holder of the title deed
C. a lawsuit asking for the release of the details of a separate property from a couple
D. a lawsuit to obtain reimbursement for losses caused by undiscovered defects in title
Question-28
Property that the owner leaves somewhere due to negligence, carelessness, or inadvertence is referred to as __________ property.
A. abandoned
B. real
C. lost
D. mislaid
Question-29
What are fixtures?
A. goods closely associated with a piece of real property
B. intangible properties created inside the premises of a real property
C. parts of a real property that are easily transferrable without substantial damage to the property
D. goods that cannot be classified as personal property or real property
Question-30
The rights to the earth located beneath the surface of the land are defined as __________.
A. chattel rights
B. air rights
C. mineral rights
D. joint rights
Question-31
__________ is a type of ownership of real property that grants the owner the fullest bundle of legal rights that a person can hold in real property.
A. Fee simple absolute
B. Life estate
C. Servient estate
D. Fee simple defeasible
Question-32
__________ is a form of co-ownership that includes the right of survivorship as well as the right of tenants to unilaterally transfer their interest without the consent of co-tenants.
A. Tenancy in common
B. Joint tenancy
C. Cooperatives
D. Tenancy by the entirety
Question-33
A given or required right to make limited use of someone else's land without owning or leasing it is called a(n) ________.
A. zoning ordinance
B. title insurance
C. easement
D. abstract of title
Question-34
Which of the following is a form of co-ownership that disallows the right of survivorship and allows unilateral transfer of interest?
A. tenancy in common
B. joint tenancy
C. cooperatives
D. tenancy by the entirety
Question-35
Which of the following is an example of intangible property?
A. copyrights
B. fixtures
C. minerals
D. automobiles
Question-36
A building attached to a piece of land would be considered a __________ property.
A. personal
B. movable
C. chattel
D. real
Question-37
A __________ is a gratuitous bailment that arises when the bailee is requested to care for the bailor's property as a favor.
A. bailment at will
B. mutual benefit bailment
C. bailment for the sole benefit of the bailee
D. bailment for the sole benefit of the bailor
Question-38
__________ is a form of co-ownership of real property that can be used only by married couples.
A. Cooperatives
B. Tenancy in common
C. Joint tenancy
D. Tenancy by the entirety
Question-39
What are surface rights in real property?
A. the right to possess the earth beneath the land
B. the right to occupy the land
C. the right to possess personal property
D. the right to convert personal property to negotiable instruments
Question-40
The voluntary transfer of title to property without payment of consideration by the receiver is known as a(n. __________.
A. adverse possession
B. future interest
C. gift
D. purchase
Which of the following is true regarding the Endangered Species Act?
A. It is the only federal law that protects wildlife at present.
B. It empowers the secretary of the interior to declare a form of wildlife as endangered.
C. It does not include marine species and amphibian life forms.
D. It applies only to the government taking of any endangered species.
Question-2
Federal administrative agencies are created by __________.
A. the U.S. President
B. the U.S. Congress
C. general public elections
D. the U.S. judiciary
Question-3
Which of the following is true with regard to price fixing?
A. Price fixing is a reasonable violation of Section I of the Sherman Act.
B. Price fixing is a process seen exclusively among sellers of goods and services.
C. Price fixing is permissible as it helps consumers or protects competitors from ruinous competition.
D. Price fixing also involves fixing the quantity of a product or service to be produced or provided.
Question-4
What is a vertical merger?
A. merger between firms in totally unrelated businesses
B. merger between the operations of a supplier and a customer
C. merger between two companies in similar fields whose sales do not overlap
D. merger between two or more companies that compete in the same geographical market
Question-5
The Superfund Act, administered by the EPA, gives the federal government a mandate to __________.
A. establish marine sanctuaries in ocean waters as far seaward as the edge of the continental shelf
B. impose fines on buildings and offices that cause harm to their occupants due to indoor air pollution
C. clean up hazardous wastes that have been spilled, stored, or abandoned
D. set standards on toxic substances that can be used or sold
Question-6
__________ requires the respondent to be given proper and timely notice of the allegations or charges against him or her as well as an opportunity to present evidence on the matter.
A. Interpretive rule
B. Substantive due process (This is incorrect)
C. Procedural due process
D. Code of operation
Question-7
The __________ is a federal statute passed in 1990 that requires food manufacturers and processors to provide nutrition information on many foods and prohibits them from making scientifically unsubstantiated health claims.
A. Food, Drug, and Cosmetic Act
B. Health Care and Education Reconciliation Act
C. Nutrition Labeling and Education Act
D. Patient Protection and Affordable Care Act
Question-8
The __________ is a federal administrative agency created by Congress to coordinate the implementation and enforcement of federal environmental protection laws.
A. Ministry of Environmental Protection
B. Environmental Investigation Agency
C. Environmental Protection Agency
D. Global Environment Facility
Question-9
__________ establishes the protocol that must be followed by an administrative agency while enforcing substantive laws.
A. Formal ruling
B. Substantive administrative law
C. Procedural administrative law
D. Informal ruling
Question-10
The Consumer Product Safety Commission is __________.
A. a communion of two state-funded regulatory bodies working together to ensure consumer safety
B. a federal body created to ensure the safety of a few consumer products like motor vehicles, boats, aircraft, and firearms
C. an independent federal administrative agency that regulates potentially dangerous consumer products
D. a federal agency working to ensure product safety standards for food, poultry, medicines, and medical devices
Question-11
A geographical area that does not meet established air quality standards is designated as a(n. __________.
A. limited pollution area
B. nonattainment area
C. zoned ordinance area
D. federal regulation area
Question-12
If a food product is released with a controversial new preservative, which of the following provisions of the NLEA would help consumers identify the banned preservative prior to consumption?
A. condemnation of unfit food products
B. disclosure of information on food labels
C. inspection of storage facilities
D. initiating legal proceedings against violators
Question-13
Which of the following is a primary cause of sick building syndrome in the United States?
A. large number of outside ducts
B. unsealed windows
C. thinly insulated buildings
D. hazardous construction materials
Question-14
The Food, Drug, and Cosmetic Act is a federal statute that __________.
A. covers all food products including poultry and processed meat
B. grants approval for food additives, drugs, cosmetics, and medicinal devices
C. implements the Federal Meat Inspection Act enacted in 1906
D. protects the public by providing greater medical coverage of food-related illnesses
Question-15
General government regulation consists of laws that regulate __________.
A. the legislative branch of the federal government
B. government-aided organizations
C. the executive branch of the federal government
D. businesses and industries
Question-16
Which of the following is true regarding antitrust laws?
A. Antitrust laws are fixed and unchangeable.
B. Each new administration adopts a different policy for enforcing antitrust laws.
C. Federal antitrust laws provide for government lawsuits and exclude private lawsuits from their purview.
D. Treble damages cannot be sought in antitrust lawsuits.
Question-17
Which of the following would be considered a stationary source of air pollution?
A. aircrafts
B. oil rigs
C. cargo ships
D. automobiles
Question-18
What is the importance of the Biosafety Protocol prescribed by the UN?
A. It dictates the terms and conditions for the production of genetically modified food.
B. It prevents people from differentiating between normal and organic food.
C. It notifies people of the presence of genetically modified food in the market.
D. It assures people of the quality of food by providing details of its testing process.
Question-19
Which of the following is true of the Insecticide, Fungicide, and Rodenticide Act?
A. It only allows government-manufactured pesticides to be sold.
B. It requires all pesticides to be registered with the EPA.
C. It cannot suspend the registration of an already registered pesticide.
D. It allows non-registered pesticides to be sold only with the close monitoring of the EPA.
Question-20
__________ are a series of laws enacted to specifically limit anticompetitive behavior and monopolistic practices in almost all industries, businesses, and professions operating in the United States.
A. Contract laws
B. Antitrust laws
C. Laissez-faire laws
D. Canon laws
Question-21
What is a warehouse receipt?
A. A receipt received by a warehouse after the bailor has retrieved the bailed goods and a payment has been made.
B. A document of title issued by a warehouse company stating that the bailor has title to the bailed goods.
C. A certificate of authenticity issued by a warehouse stating that it is certified to hold bailed goods.
D. An inventory list provided to a warehouse company by the bailor of the bailed goods.
Question-22
Which of the following is true of the ownership rights of an abandoned property?
A. The finder and owner must share ownership of the property.
B. The finder acquires title to the property, even against its original owner.
C. The owner can reclaim his or her property completely from the finder.
D. The owner of the premises where property is mislaid is entitled to possession but cannot acquire title.
Question-23
Which of the following is true about real property?
A. Real property refers to personal property permanently attached to a land.
B. Real property can be either tangible or intangible property.
C. Real property cannot become personal property under any circumstances.
D. Real property includes land with property permanently attached to it.
Question-24
Tangible property (such as automobiles, furniture, and equipment) and intangible property (such as securities, patents, and copyrights) are collectively referred to as __________.
A. real property
B. immovable property
C. personal property
D. fixtures
Question-25
Which of the following is true of ownership titles when confusion occurs?
A. Title to the goods can never be shared between the owners involved.
B. Title to goods commingled without permission goes to the innocent party.
C. Title to the goods cannot be acquired by confusion.
D. Title to goods can only be acquired if the goods were commingled by accident.
Question-26
__________ is a method of acquiring ownership that involves a manufacturer purchasing raw materials and then manufacturing a finished good.
A. Gifting
B. Producing
C. Capturing
D. Purchasing
Question-27
What is a quiet title action?
A. a lawsuit to determine the rightful owner of a disputed property and his/her rights
B. a lawsuit to enforce the right to survivorship for the holder of the title deed
C. a lawsuit asking for the release of the details of a separate property from a couple
D. a lawsuit to obtain reimbursement for losses caused by undiscovered defects in title
Question-28
Property that the owner leaves somewhere due to negligence, carelessness, or inadvertence is referred to as __________ property.
A. abandoned
B. real
C. lost
D. mislaid
Question-29
What are fixtures?
A. goods closely associated with a piece of real property
B. intangible properties created inside the premises of a real property
C. parts of a real property that are easily transferrable without substantial damage to the property
D. goods that cannot be classified as personal property or real property
Question-30
The rights to the earth located beneath the surface of the land are defined as __________.
A. chattel rights
B. air rights
C. mineral rights
D. joint rights
Question-31
__________ is a type of ownership of real property that grants the owner the fullest bundle of legal rights that a person can hold in real property.
A. Fee simple absolute
B. Life estate
C. Servient estate
D. Fee simple defeasible
Question-32
__________ is a form of co-ownership that includes the right of survivorship as well as the right of tenants to unilaterally transfer their interest without the consent of co-tenants.
A. Tenancy in common
B. Joint tenancy
C. Cooperatives
D. Tenancy by the entirety
Question-33
A given or required right to make limited use of someone else's land without owning or leasing it is called a(n) ________.
A. zoning ordinance
B. title insurance
C. easement
D. abstract of title
Question-34
Which of the following is a form of co-ownership that disallows the right of survivorship and allows unilateral transfer of interest?
A. tenancy in common
B. joint tenancy
C. cooperatives
D. tenancy by the entirety
Question-35
Which of the following is an example of intangible property?
A. copyrights
B. fixtures
C. minerals
D. automobiles
Question-36
A building attached to a piece of land would be considered a __________ property.
A. personal
B. movable
C. chattel
D. real
Question-37
A __________ is a gratuitous bailment that arises when the bailee is requested to care for the bailor's property as a favor.
A. bailment at will
B. mutual benefit bailment
C. bailment for the sole benefit of the bailee
D. bailment for the sole benefit of the bailor
Question-38
__________ is a form of co-ownership of real property that can be used only by married couples.
A. Cooperatives
B. Tenancy in common
C. Joint tenancy
D. Tenancy by the entirety
Question-39
What are surface rights in real property?
A. the right to possess the earth beneath the land
B. the right to occupy the land
C. the right to possess personal property
D. the right to convert personal property to negotiable instruments
Question-40
The voluntary transfer of title to property without payment of consideration by the receiver is known as a(n. __________.
A. adverse possession
B. future interest
C. gift
D. purchase
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