BLAW 3310:

1.Administrative agencies are created when a problem requires expertise and supervision..

A.True

B.False

2.The Administrative Procedures Act requires that notice of proposed agency rules appear in theFederal Registerso there is a chance for the public to see the rule.

A. TRUE

B. FALSE

3.InChevron v. NRDCthe Supreme Court held that courts of appeal, when considering challenges to agency regulations, must give deference to the agency decision unless the regulations are arbitrary or contrary to a statute passed by Congress.

A.TRUE

B. FALSE

4.An administrative agency cannot hold a hearing without a jury.

A. TRUE

B. FALSE

5.The modern administrative agency typically possesses legislative, executive, and judicial powers.

A. TRUE

B. FALSE

6.Before an appeal of the decision of an administrative agency may be made to a court, all appeal processes within the agency must be exhausted first.

A. TRUE

B. FALSE

7.The term "security" has a legal meaning that includes only stock, bonds and debentures.

A. TRUE

B. FALSE

8.The Securities Act of 1933 prohibits the offering or sale of securities to the public in interstate commerce before a registration statement has been filed with the Securities and Exchange Commission.

A. TRUE

B. FALSE

9.No private or limited offerings of securities are exempt from the SEC registration requirements.

A. TRUE

B. FALSE

10.Securities issued by well-known seasoned issuers do not have to have SEC staff review of the offering before being sold.

A. TRUE

B. FALSE

11.When proxies are solicited, whoever is soliciting the proxies must provide each shareholder with complete information about what the matter to be voted on is about.

A. TRUE

B. FALSE

12.The securities law imposes civil liability under Section 11 of the 1933 Act for misleading statements and material omissions in securities registration material.

A. TRUE

B. FALSE

13.Under the Securities Litigation Reform Act of 1995, companies have a safe harbor for forward-looking statements about the company made by executives.

A. TRUE

B. FALSE

14.Individuals who steal valuable nonpublic information in breach of a fiduciary duty to their employers and trade in securities on that information are guilty of insider trading as so-called misappropriators.

A. TRUE

B. FALSE

15.The Federal Trade Commission administers the law prohibiting unfair methods of competition.

A. TRUE

B. FALSE

16.InWyeth v. Levinethe Supreme Court held that FDA approval of the warning label on a drug did not mean the drug maker could not be sued for having an inadequate warning label on the drug.

A. TRUE

B. FALSE

17.The Lanham Act permits misleading advertising regarding a competitor's goods or services.

A. TRUE

B. FALSE

18.The primary purpose of the Truth-in-Lending Act is to provide disclosure of basic information about the cost and terms of credit to consumer-borrowers.

A. TRUE

B. FALSE

19.An unsolicited distribution of credit cards to persons who have not applied for them is:

a.allowed by most states.

b.lawful.

c.prohibited.

d.authorized by nonusage.

20.The Fair and Accurate Credit Transactions Act (FACT Act) requires credit reporting services to let consumers see their credit reports annually for free.

A. TRUE

B. FALSE

21.The Equal Credit Opportunity Act makes it illegal for a creditor to take into account the income of a person who applies for credit.

A. TRUE

B. FALSE

22.The Fair Debt Collection Practices Act prohibits a debt collector from calling a debtor at home more than three times regarding any one debt.

A. TRUE

B.FALSE

23.Under the Fair Debt Collection Practices Act a debt collector has the right to tell a consumer that if the validity of a debt is not disputed within 30 days, then it is presumed to be a valid debt.

A. TRUE

B.FALSE

24.Under the Electronic Fund Transfer Act, if your bank card is stolen you must notify the bank within two days to limit your liability to $50 for unauthorized charges.

A. TRUE

B. FALSE

25.The Sherman Act states that all contracts in restraint of trade are illegal.

A. TRUE

B. FALSE

26.Although many activities and businesses have lobbied Congress to be made exempt from theantitrust laws, none have been exempted.

A. TRUE

B. FALSE

27.A firm that violates the antitrust laws could be required to break up into several independent companies.

A. TRUE

B. FALSE

28.Price fixing is generally considered to be the worst violation of antitrust law.

A. TRUE

B. FALSE

29.InLeegin Creative Leather Products v. PSKS, the Supreme Court held that minimum vertical price fixing controls (resale price maintenance) would be legal if it helped interbrand competition at the expense of intrabrand competition.

A. TRUE

B.FALSE

30.A territorial restriction, such as Pepsi telling its bottlers where they can sell and deliver Pepsi, is per se illegal under the Clayton Act.

A. TRUE

B. FALSE

31.A tie-in sale is probably per se illegal if the seller has market power in the tying product, the tied and tying products are separate, and there is evidence of substantial adverse effect in the tied-product market.

A. TRUE

B. FALSE

32.Illegal boycotts may involve manufacturers getting together to tell dealers what they must do and not selling to dealers who do not cooperate.

A. TRUE

B. FALSE

33.A seller who discriminates in price between different purchasers does not violate the Robinson-Patman Act unless the price discrimination substantially affects competition between the favored party and the disfavored party.

A. TRUE

B. FALSE

34.Only government agencies can sue for violations of environmental statutes.

A. TRUE

B. FALSE

35.People who live along rivers may use the river's water in a reasonable manner and are legally obliged by riparian law to pass the water along in usable form.

A. TRUE

B. FALSE

36.Each state is required to develop a State Implementation Plan to define control efforts necessary to achieve air quality in the state.

A. TRUE

B. FALSE

37.A new plant can be built in a nonattainment ("dirty air") area if, among other things, the air pollution from the new plant is offset by reductions in the same type of pollutant from other plants in the area

A. TRUE

B. FALSE

38.Control of point source water pollution has been the primary goal of federal water pollution law.

A. TRUE

B. FALSE

39.The Resource Conservation and Recovery Act forces hazardous waste generators, transporters and disposal site operators to follow a manifest system to keep track of the hazardous waste.

A. TRUE

B. FALSE

40.Potentially responsible parties under the Comprehensive Environmental Response, Compensation, and Liability Act ("Superfund") include past owners and any transporter of toxic waste who selected the site for disposal.

A. TRUE

B. FALSE

41.InBabbitt v. Sweet Home, the Supreme Court held that "habitat" protection is a key goal of the Endangered Species Act.

A. TRUE

B. FALSE

42.InMassachusetts v. EPA, Massachusetts and other states sued the EPA for not regulating vehicle emissions that may contribute to greenhouse gases. The Supreme Court held that there was evidence such emissions contributed to global warming and that the EPA has authority to regulate such pollutants

A. TRUE

B. FALSE

43.The main sources of international trade law are the laws of the individual countries, the laws embodied in trade agreements, and the rules enacted by trade organizations.

A. TRUE

B. FALSE

44.The term "dumping" refers to the sale of damaged goods in a foreign market in order to cut the losses that would otherwise be caused by their damage.

A. TRUE

B. FALSE

45.A "host government" may seize the assets of a foreign business through the process of:

a.seizure.

b.divestiture.

c.expropriation.

d.exoneration.

46.Legal restrictions of U. S. firms doing business abroad in regard to payments made to foreign officials for obtaining business are contained within:

a.the Corruption Prohibition Act.

b.the Antibribery Control Act.

c.the Foreign Corrupt Practices Act.

d.none of the above.

47.In letter of credit transactions, the seller gives the goods to the buyer and the buyer then pays the seller's bank to retire a loan (the letter of credit) taken out by the seller to cover the production costs of the goods.

A. TRUE

B. FALSE

48.A force majeure clause protects parties to a contract from problems beyond their control, such as a natural disaster or political upheaval.

A. TRUE

B. FALSE

49.Arbitration is rarely used in international business disputes because most foreign courts will not enforce arbitration decisions

A. TRUE

B. FALSE

50.Under which of the following is it held that a foreign sovereign cannot be sued unless it engages in illegal commercial conduct?

a.act of state doctrine

b.sovereign compliance doctrine

c.timberlane doctrine

d.sovereign immunity doctrine

PLEASE SOMONE HELP ME , I will really appreciate however help