1. Cybersquatting describes the practice of
hacking into a company's website to install a virus or Trojan horse designed to steal information but allow the site to continue operation
registering multiple domain names and then selling them back to companies at inflated prices
using mechanical devises to access a company's website multiple times to the point that traffic to the site is slowed or blocked
hacking into a company's website to install a virus designed to cause the company's website to totally cease operation
2. The three stripes on Adidas clothing represents a
trade dress
trademark
patent
trade secret
3 Which of the following is classified as an equitable remedy?
Consequential damages
Liquidated damages
Restitution
Reformation
4 The UCC will permit an incomplete or slightly ambiguous contract to be enforced using each of the following criteria EXCEPT
correspondence or verbal exchanges between the parties
judicial input of any terms necessary to maintain fairness
past commercial conduct
industry standards or norms
5 The color or shape of an item, if distinctive, is a
patent
trademark
copyright
trade dress
6 Two merchant companies have entered into a contract for the sale of goods but have had no prior dealings, which would establish a course of conduct between them. The UCC will allow gap fillers to apply to their contract regarding missing terms in each of the following situations EXCEPT
they have failed to specify the price of the goods to be delivered
they have failed to specify when payment for the goods is to be made
they have failed to specify the quality or grade of the goods to be delivered
they have failed to specify where delivery of the goods is to be made
7 The power of preemption is derived from
the Supremacy Clause
the Commerce Clause
the Necessary and Proper Clause
the power of judicial review
8 With regard to consideration in a sales contract, the UCC differs from the common law in that
consideration in a sales contract may be modified without additional consideration
consideration is not required in sales contracts
consideration in a sales contract may be modified as long as additional consideration is provided
consideration exchanged must be equal or very closely equal in sales contracts
9 Which of the following is rarely awarded in contracts cases?
Punitive damages
Liquidated damages
Compensatory damages
Consequential damages
10 Ben is the manager of a branch of a large bank. He has regularly taken money from customer's accounts for his own use and changed the bank records to cover his actions. Ben is guilty of
embezzlement
a conspiracy
a Ponzi scheme
Racketeering
11 Jurisprudence is defined as
adjudication of law suits
the science and philosophy of law
the duties and obligations owed by a citizen
the enactment of laws by a government body
12 Which of the following would not be considered tangible?
A car
The pen or pencil you are using
Oxygen
The right of ownership
13 The state of Kansas has enacted a new law requiring all commercial trucks driving on Kansas roads to have special mud flaps installed. These mud flaps have been proven to make driving in the rain significantly safer due to reduced mist created by trucks driving in the rain, although data regarding accidents and injuries has not yet been determined. Any truck entering Kansas must have these flaps installed or will be subject to a significant fine and delay. The cost for purchase and installation of these flaps is $1,000 per truck. In short, trucks must have these flaps or go around the state. This Kansas law
is valid because Kansas's right to protect its citizens under its police powers will override any outside challenges to this law
is invalid because this law is intended to regulate interstate commerce, an enumerated federal power
is valid because it only applies to Kansas roads and such a law is entirely intrastate
is invalid because although on its face it's an intrastate law, this statute will have a significant economic effect on interstate commerce causing an undue burden
14 Under the U.S. legal system, subject to some exceptions, costs of litigation regarding both the plaintiff and defendant
are all paid by the winner
are paid for by each side with the plaintiff and defendant paying for their own legal costs
are all paid by the loser
are totaled by the court and then for fairness, split in half with each side paying an equal amount
15 Assumption of risk is a defense to
battery
conversion
defamation
negligence
16 Each of the following is a discharge by mutual consent EXCEPT
accord and satisfaction
rescission
frustration of purpose
novation
17 When Maria comes home from work, she finds that her yard has been mowed and trimmed. An hour later, a man comes to her door to collect payment for the yard work. Maria refuses to pay him because she has never seen him before nor had she hired him to do the work. Which of the following is accurate?
Maria has received unjust enrichment so a quasi contract is formed, so she must pay.
This is an implied, unilateral contract, so she must pay.
Maria would not have to pay anything.
The court would make Maria pay the reasonable cost of the work to be fair to both parties.
18 Joan is the CFO of Para Corp. and is a year from retirement. In order to guarantee herself a very substantial bonus and to boost her retirement package, she knowingly certifies false financial reports making the company appear to be much more profitable than it really is. She further takes steps to assure that the financial report was not reviewed through internal controls maintained by Para Corp. Under the provisions of the Sarbanes-Oxley Act (2002), if her fraud is NOT part of a larger scheme, what criminal penalties are possible for Joan?
$10 million in fines and up to 20 years in prison
$2 million in fines and up to 12 years in prison
$1 million in fines and up to 10 years in prison
$5 million in fines and up to 15 years in prison
19 "What if everyone took these same actions?" is a question sometimes called the
morality approach
universalization approach
functionality approach
utilitarian approach
20 The Digital Millennium Copyright Act (1998) provided each of the following protections EXCEPT
restrictions were placed on analog recorders and camcorders that lack antipiracy features
civil and criminal penalties were established for those who sell or manufacture products or services that circumvent antipiracy software
manufacturers of CD-Writers were required to pay 2% of their sales into a fund to be distributed to copyright holders because the CD-Writers could easily copy music and other copyrighted works
ISPs were relieved of liability for copyright infringement by their users as long as the ISP had no knowledge of the infringement
21 Generally, torts law is governed by
federal statutory law
state statutory law
constitutional law
state common law
22 Where a promise can only be accepted by the performance of the person to whom it is offered is an example of a/an
quasi contract
unilateral contract
implied contract
bilateral contract
23 Harry sees an AK-47 automatic assault rifle in a gun shop window. He inquires about the price and is told that it is $2,500. Harry signs a contract promising to pay the $2,500 on Friday, taking possession of the rifle when payment is made. On Thursday, a law is enacted making the ownership, sale, or possession of an automatic rifle illegal. This contract
is enforceable and not affected by the new law because it was entered into before the law took effect
automatically terminates due to impracticability
automatically terminates due to frustration of purpose
automatically terminates due to impossibility
24 The Sarbanes-Oxley Act (2002) imposed stricter regulations on how corporations do business through regulations in each of the following areas EXCEPT
tax compliance
corporate governance
auditing
financial reporting
25 Stan is an investment manager. He has received money from various investors with a promise of very high returns on their investments. The invested money is not supplying enough capital in order to pay the returns promised, so he has started using new investor's money to pay older investors. By advertising and by word of mouth, people are anxious to invest with Stan because of the money being paid, and with the influx of new investors, he is able to continue operating. Stan is
racketeering
operating a Ponzi scheme
operating an insider trading operation
guilty of conspiracy to defraud
26 Which of these is not a requirement for disclaiming a warranty?
Including the word merchantability if merchantability is to be disclaimed
A conspicuous writing
Explaining why the warranty is being disclaimed
Statutory authorization
27 Which of the following does not result in a decision rendered by the hearing officer?
Mediation
Arbitration
Med-arb
Using expert evaluators
28 What is the main problem with international courts?
Finding judges who understand the complexities of international law
Enforcing a ruling on sovereign nations is difficult
Creating a body of law that reflects multiple legal systems
Lack of recognition from the U.N. and WTO
29 The utilitarian approach to moral philosophy was founded by
Immanuel Kant
Cicero
Kenneth Lay
Jeremy Bentham
30 When a buyer rejects nonconforming goods and purchases the appropriate goods from a different seller, this is an example of which of the following:
Specific Performance
Cover
Revoking Acceptance
Lawsuit for Money Damages
hacking into a company's website to install a virus or Trojan horse designed to steal information but allow the site to continue operation
registering multiple domain names and then selling them back to companies at inflated prices
using mechanical devises to access a company's website multiple times to the point that traffic to the site is slowed or blocked
hacking into a company's website to install a virus designed to cause the company's website to totally cease operation
2. The three stripes on Adidas clothing represents a
trade dress
trademark
patent
trade secret
3 Which of the following is classified as an equitable remedy?
Consequential damages
Liquidated damages
Restitution
Reformation
4 The UCC will permit an incomplete or slightly ambiguous contract to be enforced using each of the following criteria EXCEPT
correspondence or verbal exchanges between the parties
judicial input of any terms necessary to maintain fairness
past commercial conduct
industry standards or norms
5 The color or shape of an item, if distinctive, is a
patent
trademark
copyright
trade dress
6 Two merchant companies have entered into a contract for the sale of goods but have had no prior dealings, which would establish a course of conduct between them. The UCC will allow gap fillers to apply to their contract regarding missing terms in each of the following situations EXCEPT
they have failed to specify the price of the goods to be delivered
they have failed to specify when payment for the goods is to be made
they have failed to specify the quality or grade of the goods to be delivered
they have failed to specify where delivery of the goods is to be made
7 The power of preemption is derived from
the Supremacy Clause
the Commerce Clause
the Necessary and Proper Clause
the power of judicial review
8 With regard to consideration in a sales contract, the UCC differs from the common law in that
consideration in a sales contract may be modified without additional consideration
consideration is not required in sales contracts
consideration in a sales contract may be modified as long as additional consideration is provided
consideration exchanged must be equal or very closely equal in sales contracts
9 Which of the following is rarely awarded in contracts cases?
Punitive damages
Liquidated damages
Compensatory damages
Consequential damages
10 Ben is the manager of a branch of a large bank. He has regularly taken money from customer's accounts for his own use and changed the bank records to cover his actions. Ben is guilty of
embezzlement
a conspiracy
a Ponzi scheme
Racketeering
11 Jurisprudence is defined as
adjudication of law suits
the science and philosophy of law
the duties and obligations owed by a citizen
the enactment of laws by a government body
12 Which of the following would not be considered tangible?
A car
The pen or pencil you are using
Oxygen
The right of ownership
13 The state of Kansas has enacted a new law requiring all commercial trucks driving on Kansas roads to have special mud flaps installed. These mud flaps have been proven to make driving in the rain significantly safer due to reduced mist created by trucks driving in the rain, although data regarding accidents and injuries has not yet been determined. Any truck entering Kansas must have these flaps installed or will be subject to a significant fine and delay. The cost for purchase and installation of these flaps is $1,000 per truck. In short, trucks must have these flaps or go around the state. This Kansas law
is valid because Kansas's right to protect its citizens under its police powers will override any outside challenges to this law
is invalid because this law is intended to regulate interstate commerce, an enumerated federal power
is valid because it only applies to Kansas roads and such a law is entirely intrastate
is invalid because although on its face it's an intrastate law, this statute will have a significant economic effect on interstate commerce causing an undue burden
14 Under the U.S. legal system, subject to some exceptions, costs of litigation regarding both the plaintiff and defendant
are all paid by the winner
are paid for by each side with the plaintiff and defendant paying for their own legal costs
are all paid by the loser
are totaled by the court and then for fairness, split in half with each side paying an equal amount
15 Assumption of risk is a defense to
battery
conversion
defamation
negligence
16 Each of the following is a discharge by mutual consent EXCEPT
accord and satisfaction
rescission
frustration of purpose
novation
17 When Maria comes home from work, she finds that her yard has been mowed and trimmed. An hour later, a man comes to her door to collect payment for the yard work. Maria refuses to pay him because she has never seen him before nor had she hired him to do the work. Which of the following is accurate?
Maria has received unjust enrichment so a quasi contract is formed, so she must pay.
This is an implied, unilateral contract, so she must pay.
Maria would not have to pay anything.
The court would make Maria pay the reasonable cost of the work to be fair to both parties.
18 Joan is the CFO of Para Corp. and is a year from retirement. In order to guarantee herself a very substantial bonus and to boost her retirement package, she knowingly certifies false financial reports making the company appear to be much more profitable than it really is. She further takes steps to assure that the financial report was not reviewed through internal controls maintained by Para Corp. Under the provisions of the Sarbanes-Oxley Act (2002), if her fraud is NOT part of a larger scheme, what criminal penalties are possible for Joan?
$10 million in fines and up to 20 years in prison
$2 million in fines and up to 12 years in prison
$1 million in fines and up to 10 years in prison
$5 million in fines and up to 15 years in prison
19 "What if everyone took these same actions?" is a question sometimes called the
morality approach
universalization approach
functionality approach
utilitarian approach
20 The Digital Millennium Copyright Act (1998) provided each of the following protections EXCEPT
restrictions were placed on analog recorders and camcorders that lack antipiracy features
civil and criminal penalties were established for those who sell or manufacture products or services that circumvent antipiracy software
manufacturers of CD-Writers were required to pay 2% of their sales into a fund to be distributed to copyright holders because the CD-Writers could easily copy music and other copyrighted works
ISPs were relieved of liability for copyright infringement by their users as long as the ISP had no knowledge of the infringement
21 Generally, torts law is governed by
federal statutory law
state statutory law
constitutional law
state common law
22 Where a promise can only be accepted by the performance of the person to whom it is offered is an example of a/an
quasi contract
unilateral contract
implied contract
bilateral contract
23 Harry sees an AK-47 automatic assault rifle in a gun shop window. He inquires about the price and is told that it is $2,500. Harry signs a contract promising to pay the $2,500 on Friday, taking possession of the rifle when payment is made. On Thursday, a law is enacted making the ownership, sale, or possession of an automatic rifle illegal. This contract
is enforceable and not affected by the new law because it was entered into before the law took effect
automatically terminates due to impracticability
automatically terminates due to frustration of purpose
automatically terminates due to impossibility
24 The Sarbanes-Oxley Act (2002) imposed stricter regulations on how corporations do business through regulations in each of the following areas EXCEPT
tax compliance
corporate governance
auditing
financial reporting
25 Stan is an investment manager. He has received money from various investors with a promise of very high returns on their investments. The invested money is not supplying enough capital in order to pay the returns promised, so he has started using new investor's money to pay older investors. By advertising and by word of mouth, people are anxious to invest with Stan because of the money being paid, and with the influx of new investors, he is able to continue operating. Stan is
racketeering
operating a Ponzi scheme
operating an insider trading operation
guilty of conspiracy to defraud
26 Which of these is not a requirement for disclaiming a warranty?
Including the word merchantability if merchantability is to be disclaimed
A conspicuous writing
Explaining why the warranty is being disclaimed
Statutory authorization
27 Which of the following does not result in a decision rendered by the hearing officer?
Mediation
Arbitration
Med-arb
Using expert evaluators
28 What is the main problem with international courts?
Finding judges who understand the complexities of international law
Enforcing a ruling on sovereign nations is difficult
Creating a body of law that reflects multiple legal systems
Lack of recognition from the U.N. and WTO
29 The utilitarian approach to moral philosophy was founded by
Immanuel Kant
Cicero
Kenneth Lay
Jeremy Bentham
30 When a buyer rejects nonconforming goods and purchases the appropriate goods from a different seller, this is an example of which of the following:
Specific Performance
Cover
Revoking Acceptance
Lawsuit for Money Damages
