1)Criminal law differs from tort law in that

a. Criminal law involves a public wrong

b. Tort law protects the public

c. Tort law protects the public

d. Criminal law compensate the injured party's loss

2)Iris is looking for a short-term mortgage that will allow her to pay fixed payments at a relatively low fixed interest rate during the life of the mortgage and one large payment at the end of the term. What kind of mortgage should Iris take

a. Balloon-payment mortgage

b. Graduated-payment mortgage

c. Conventional mortgage

d. VA Mortgage

3)Sally and Ethel have a falling out. Sally, to cause distress to Ethel and her husband Elmer, posts on the Internet that Elmer is having an affair with a college student, even though Sally Knows that what she is saying isn't true. Which of the following statements is true?

a. Sally has a claim for defamation against Ethel.

b. Ethel has a claim for defamation against Sally

c. Sally has a claim for intentional infliction of emotional distress

d. Elmer has a claim of defamation against Sally

4)Offering, promising, or giving something of value to a public official with the goal of influencing that official in the discharge of his or her duties is called

a. Racketeering

b. Bribery

c. Fraud

d. Embezzlement

5)Sammy took out a home insurance policy on the home of his neighbor, Ed. Three months later, Ed's home mysteriously burned down. Sammy attempted to collect on the policy he purchased earlier. Which of the following statements regarding this set of facts is true?

a. Sammy may collect the insurance proceeds as long as he wasn't guilty of any wrongdoing regarding the destruction of the house

b. Sammy can't collect the insurance proceeds because he lacked and insurable interest at any time of the loss

c. Sammy may collect the insurance proceeds because as long as the premium was paid, it's unnecessary that he have an insurable interest at any time

d. Sammy can't collect the insurance proceeds because he lacked an insurable interest at the time the policy was purchased

6)What type of life insurance would most likely be used to cover the outstanding balance of a home mortgage?

a. Decreasing Term insurance

b. Endowment

c. Straight life

d. Universal life

7)If the mortgagor has defaulted or has failed to perform some other agreement in the mortgage, the mortgagee has the right to apply to a court to have the property sold. This is called the right to

a. Perfection

b. Foreclosure

c. Attachment

d. Acceleration

8) A/an ___________ is an amount of any loss that is to be paid by the insured and can be a specified dollar amount, a percentage of the claim amount, or specified amount of time that must elapse before benefits are paid

a.Annuity

b. Loan value

c. Deductible

d. Cash surrender value

9)The __________ accepts the risk of loss in return for a premium

a. Insured

b. Benefactor

c. Beneficiary

D. Insurer

10)Which chapter of the bankruptcy code allows a federal homestead exemption?

a. Chapter 8

b. Chapter 11

c. Chapter 12

d. Chapter 7

11)Tom purchases a life insurance policy and then joins the military. Tom isdeployed in a combat zone and killed by enemy soldiers. Tom's wife applies for the insurance proceeds. Which of the following is most likely?

a. The insurance company won't pay, as military benefits supersede any civilian life insurance

b. The insurance company will pay double because the death was during war

c. The insurance company will pay only after the military certifies that Tom would have been honorably discharged had the completed his term of service

d. The insurance company won't pay because death due war activities is usually exempted from the risk insured against

12)Zeke approaches Allen and says, "I know you're an invader from outer space planning to take over the world-you must be stopped!" Then Zeke punches Allen in the nose. Zeke is charged with misdemeanor assault. Which of the following statements is true?

a. Zeke is guilty, regardless of his state of mind, as insanity is a defense only to felonies

b. Zeke isn't guilty by reason of insanity because it's insane to believe that there's life in outer s[pace

c. Zeke isn't guilty by reason of insanity under the irresistible impulse test because he failed to resist the urge to push Allen

d. Zeke isn't guilty by reason of insanity under the M'Naughten rule if Zeke was suffering from a mental disease

13) _____________ insurance offers protection alone, and is the least expensive kind of life insurance

a. Straight life

b. Limited-payment life

c. Universal life

d. Term

14) According to the UCC, conflicting secured interests are generally resolved

a. Based on whether the seller's inventory prevails over buyers of goods in the ordinary course of business

b. By consumers' perfected security interests of which they have no knowledge

c. According to priority in time of filling or perfection

d. According to whether an attached security interest in inventory has priority over a conflicting security in the same inventory

15)Billy borrowed money from First Bank, and he neutered an agreement listing his scooter as collateral. First bank took all necessary steps to properly perfect its security in the scooter on the day of the loan. The next day, Billy borrowed money from Second Bank, and he entered an agreement listing the same scooter as collateral. Second Bank also took all necessary steps to properly perfect its security in the scooter on the day of the load. Billy defaults on both loans, defaulting on Second Bank and then on First Bank. Which of the following statements regarding this set of facts is true?

a. First Bank possesses the priority claim because it was the first bank to make the load that listed the scooter as collateral

b. Neither bank possesses a right to repossess the scooter because Billy listed it as collateral with both banks

c. Second bank possesses the priority claim because Billy defaulted on Second Bank

d. First Bank possesses the priority claim because it was the first to perfect its security interest

16)Evan gives Zeke $200 to buy tickets for Evan and his girlfriend to attend a rock concert. Instead, Zeke spends the money to purchase video games. Evan finds out and wants to know if Zeke can be charged with a crime. Zeke has committed

a. Embezzlement

b. Robbery

c. No crime, but can be sued in civil court

d. Larceny

17)__________ demonstrates that "but for" the defendant's actions, the plaintiff would not have been injured

a. The foreseeability test

b. Proximate cause

c. Actual cause

d. Legal cause

18)Which of the following types of criminal homicide involves killing someone with premeditation, killing in a cruel way such as with torture, or killing while committing a major crime

a. Involuntary manslaughter

b. First-degree murder

c. Voluntary manslaughter

d. Second-degree murder

19)A protection that insures property that can't be covered by specific insurance because the property is constantly changing in either value or location is referred to as a/an

a. Annuity

b. Collision insurance

c. Coinsurance

d. Floater policy

20) John visits Photo-Heaven to have his picture taken. While he is waiting for the photographer in the reception area, he notices one of the chairs has yellow caution tape around it with a sign that says "Broken Chair". John has been looking for a chair just like this one, so he removes the caution tape to sit in the chair and see how it feels. The chair collapses, and John falls to the floor. John goes to the hospital, where the doctor treats him for injuries. If John files suit against Photo-Heaven for negligence, he will most likely lose because

a. He didn't suffer a legally recognizable injury

b. Photo-Heaven's didn't owe John a duty

c. Photo-Heaven's negligence didn't cause John's injury

d. He assumed the risk because he knew the chair was broken