Question 1 of 40
Overtime pay is paid for each hour worked in excess of __________ hours per week.
A. 35
B. 40
C. 45
D. 50
Question 2 of 40
Picketing is unlawful when:
A. picketing obstructs customers from entering an employer's place of business.
B. picketing is carried out against the struck employer's product.
C. picketing is carried out against a neutral employer.
D. an employer instigates a "lockout" against picketers on business premises.
Question 3 of 40
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 4 of 40
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. In this case, the employer:
A. has violated the Fair Employment Practices Act.
B. is liable for disparate treatment discrimination.
C. is liable for disparate impact discrimination.
D. has not violated the Equal Pay Act.
Question 5 of 40
Which of the following is considered an intentional tort?
A. Negligence
B. Innocent misrepresentation
C. Fraud
D. Dual-purpose mission
Question 6 of 40
Duty of __________ is a fiduciary duty required by an agent not to act adversely to the interests of the principal.
A. loyalty
B. undertaking
C. discharge
D. resolution
Question 7 of 40
A(n) __________ relationship 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
B. principal-agent
C. agent-agent
D. employer-employee
Question 8 of 40
__________ 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 9 of 40
Which of the following is TRUE regarding union security agreements?
A. Under a closed shop agreement, an employer hires workers who are not part of any union
B. Under an agency shop agreement, an employer only hires workers who agree to not join any union
C. An employee hired under a union shop agreement is represented by more than one union
D. Dues checkoff refers to the deduction of union dues and agency fees from employees' wages
Question 10 of 40
The __________ is a federal act legislated in 1970 that promotes safety in the workplace.
A. OSHA
B. FLSA
C. FMLA
D. ERISA
Question 11 of 40
An agent is a party who:
A. agrees to act on behalf of another.
B. employs another person to act on his or her behalf.
C. directs a worker under an express or implied contract of employment.
D. receives the services of another for remuneration.
Question 12 of 40
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 13 of 40
The National Labor Relations Act of 1935 is intended to:
A. regulate the internal affairs of each union.
B. represent employees according to their sectors of employment.
C. bargain collectively with employers.
D. equally represent every union member.
Question 14 of 40
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 15 of 40
A(n) __________ provides that certain job preferences will be given to members of minority racial and ethnic groups, females, and other protected-class applicants when making employment decisions.
A. retaliation
B. affirmative defense
C. affirmative action plan
D. reasonable accommodation plan
Question 16 of 40
If employees no longer want to be represented by a union, a(n) __________ election is held.
A. employer-contested
B. consent
C. decertification
D. management-contested
Question 17 of 40
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 18 of 40
Which of the following is TRUE regarding the federal minimum wage?
A. An employer may not reduce the minimum wage even though he/she provides other benefits for the employees
B. Managerial employees are not subject to minimum wage requirements
C. Apprentices cannot be paid less than the minimum wage
D. Employees who earn tips, such as waiters and valets, are not entitled to the minimum wage
Question 19 of 40
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 20 of 40
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 21 of 40
__________ 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 22 of 40
Owners of a corporation who elect the board of directors and vote on fundamental changes in the corporation are known as:
A. spectators.
B. shareholders.
C. electors.
D. associates.
Question 23 of 40
A business operating under sole proprietorship:
A. is not considered a separate legal entity.
B. cannot be sold when the owner decides to do so.
C. requires governmental approval when being transferred.
D. has access to unrestricted capital by means of investments.
Question 24 of 40
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 25 of 40
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 26 of 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
Question 27 of 40
__________ is a situation in which a partner withdraws from a partnership without having the right to do so at that time.
A. Winding up
B. Indemnification
C. Wrongful dissolution
D. Proliferation
Question 28 of 40
Which of the following is an apparent disadvantage of utilitarianism?
A. It does not allow people to have subjective notions of right and wrong
B. It is based on moral duties derived from universal rules
C. It puts too much emphasis on one book or theory
D. It treats morality as if it were an impersonal mathematical calculation
Question 29 of 40
Which of the following has a fixed maturity date?
A. Bonds
B. Common stocks
C. Cumulative preferred stocks
D. Participating preferred stocks
Question 30 of 40
A(n) __________ clause 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
B. limited purpose
C. dissolution
D. ultra vires
Question 31 of 40
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 32 of 40
The __________ requires general partners to adhere to the provisions of the partnership agreement and the decisions of the partnership.
A. duty to inform
B. duty of loyalty
C. duty of care
D. duty of obedience
Question 33 of 40
Duty of __________ is a duty owed by a member of an LLC to not act adversely to the interests of the LLC.
A. discharge
B. restitution
C. loyalty
D. resolution
Question 34 of 40
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 35 of 40
Which of the following moral theories matches the dictum "I will keep the rules if everyone else does?"
A. Perspectivism
B. Social contract
C. Moral relativism
D. Utilitarianism
Question 36 of 40
An entrepreneur is best described as a person who:
A. forms and operates a business.
B. invests in an existing business.
C. lends capital to a new business.
D. derives a profit from a new or existing business.
Question 37 of 40
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 of 40
"Maximizing profits" as a social responsibility theory in business is the theory that a:
A. corporation must consider the effects its actions have on people other than its shareholders.
B. corporation's duty is to make a profit while avoiding causing harm to others.
C. corporation has a duty to take actions that increase profits for shareholders.
D. business owes responsibility to its stakeholders rather than just its shareholders.
Question 39 of 40
__________ corporations are corporations that have many shareholders and whose securities are often traded on national stock exchanges.
A. Closely held
B. Non-profit
C. Publicly held
D. Shore-up
Question 40 of 40
__________ 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
