QUESTION Implied warranties represent only guarantees of terms specifically stated by the seller. Indicate whether the statement is true or false. ANSWER Answer: FALSE Explanation: An implied warranty may represent terms not specifically stated by the seller.
Date: September 3rd, 2020
QUESTION Deregulation is the scaling back, or relaxation in enforcement, of laws and administrative rules that seemed to restrain competition. Indicate whether the statement is true or false. ANSWER Answer: TRUE Explanation: Deregulation is the scaling back, or relaxation in enforcement, of laws and administrative rules that seemed to restrain competition.
Date: September 3rd, 2020
QUESTION The Federal Communications Commission regulates the airwaves. Indicate whether the statement is true or false. ANSWER Answer: TRUE Explanation: The FCC regulates radio and TV communication.
Date: September 3rd, 2020
QUESTION The Securities and Exchange Commission regulates stock and bond markets. Indicate whether the statement is true or false. ANSWER Answer: TRUE Explanation: The SEC regulates trading in stocks and bonds so that fair and transparent standards are applied.
Date: September 3rd, 2020
QUESTION What is the definition of statutory laws? A) laws governing international business activities B) laws governing domestic business activities C) written laws created by legislative bodies D) unwritten laws made by judges ruling on individual cases E) laws made by government boards, commissions, and agencies ANSWER Answer: C Explanation: C) Statutory laws are […]
Date: September 3rd, 2020
QUESTION The Gramm-Leach-Bliley Act placed extensive new regulations on the banking industry. Indicate whether the statement is true or false.c ANSWER Answer: FALSE Explanation: The Gramm-Leach-Bliley Act deregulated the banking industry.
Date: September 3rd, 2020
QUESTION The decisions judges made in past court cases in similar areas, which become guides to handling new cases, are called what? A) statutes B) regulatory laws C) treaties D) trade agreements E) precedents ANSWER Answer: E Explanation: E) Precedents are the decisions judges made in past court cases in similar areas, which become […]
Date: September 3rd, 2020
QUESTION When treaties and trade agreements do not cover points of contention between nations, which of the following bodies sometimes makes decisions that affect international business? A) the United Nations B) the United States C) the European Trade Union D) Canada E) the Peace Corps ANSWER Answer: A Explanation: A) Decisions of international organizations […]
Date: September 3rd, 2020
QUESTION A case that began in a state administrative agency, such as a planning board, and then went to a state trial court, could go where next? A) to a U.S. appellate court B) to a federal trial court C) to a federal special court D) to the U.S. Supreme Court E) to a state […]
Date: September 3rd, 2020
QUESTION The Consumer Product Safety Commission, the Environmental Protection Agency, and the Federal Communications Commission are all federal agencies with the power to create and enforce rules and regulations. They are all mainly involved with which type of law? A) common law B) statutory law C) international law D) administrative law E) national law […]
Date: September 3rd, 2020
