final exam week 4 BUSINESS LAW
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Keiser University *
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Feb 20, 2024
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WEEK 4 FINAL EXAM BUSINESS LAW
KEISER UNIVERSITY
Question 1
5 out of 5 points
A suit brought by a shareholder to enforce a corporate cause of action against a third person is called:
Selected Answer:
Derivative suit
Correct Answer:
Derivative suit
Answer Feedback:
Question 2
5 out of 5 points
If a person fails to pay a creditor, in some cases the creditor may get payment by:
Selected Answer:
a and b are correct
Correct Answer:
a and b are correct
Answer Feedback:
See CH. 32
Question 3
5 out of 5 points
Credit card applications from retail stores do not meet the requirement for a written security interest.
Selected Answer:
False
Correct Answer:
Fals
e
Question 4
5 out of 5 points
Which of the following is not
exempt from satisfaction of judgment debts:
Selected Answer:
Personal bank account
Correct Answer:
Personal bank account
Answer Feedback:
Question 5
5 out of 5 points
Danielle lives in California and is hired to work for a firm in New York. Her start date is one week away. Between finding someone to sublet her old
apartment, moving costs and paying a first and last months' rent for a new apartment, the total costs incurred amount to $8,000. On her first day of work, she arrives to discover that the employer has changed his mind- there
is no longer a position available to her. She files suit for $8,000 on the grounds that she reasonably relied upon the new job when she incurred these costs. She is attempting to prevail based upon the Doctrine of Strict Liability.
Selected Answer:
False
Correct Answer:
Fals
e
Response Feedback:
promissory estoppel
Question 6
0 out of 5 points
All states require a corporation name to include the word:
Selected Answer:
Correct Answer:
All of the above
Question 7
5 out of 5 points
The main difference between an employee and an independent contractor is:
Selected Answer:
An employee is controlled by the employer, while the independent contractor is not; an independent contractor has more freedom
Correct Answer:
An employee is controlled by the employer, while the independent contractor is not; an independent contractor has more freedom
Answer Feedback:
Question 8
5 out of 5 points
The duties of an agency relationship are implied only when the identity of the principal is disclosed to the third party.
Selected Answer:
False
Correct Answer:
Fals
e
Question 9
5 out of 5 points
Once a Bankruptcy petition is filed, creditors who are owed money may still attempt to collect the debts owed.
Selected Answer:
False
Correct Answer:
Fals
e
Question 10
5 out of 5 points
Bankruptcy has many forms. Which of the following is not a type of Bankruptcy?
Selected Answer:
Chapter 2 Set Off
Correct Answer:
Chapter 2 Set Off
Answer Feedback:
Question 11
5 out of 5 points
In employment law, an at-will employee refers to an employee who generally can be fired
Selected Answer:
For any reason or for no reason at all
Correct Answer:
For any reason or for no reason at all
Answer Feedback:
Question 12
5 out of 5 points
A principal owes his/her agent the duty of reimbursement.
Selected Answer:
True
Correct Answer:
Tru
e
Question 13
A security interest is best described as every interest in personal property or fixtures that secures (guarantees) the payment or performance of an obligation
Selected Answer:
Correct Answer:
Tru
e
Question 14
5 out of 5 points
Digital Software, Inc. prefers to hire Asian Americans, because, according to its personnel director, "they're smarter and work harder" than other minorities. Showing a preference for one minority over another is prohibited by
Selected Answer:
Title VII of Civil Rights Act of 1964.
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Correct Answer:
Title VII of Civil Rights Act of 1964.
Answer Feedback:
Question 15
5 out of 5 points
Some debts simply cannot be discharged in Bankruptcy. Which of the following CANNOT be discharged, and must be repaid?
Selected Answer:
Debts due for unpaid Federal taxes
Correct Answer:
Debts due for unpaid Federal taxes
Answer Feedback:
Question 16
5 out of 5 points
An employer can raise or lower an at-will employee's salary
Selected Answer:
True
Correct Answer:
Tru
e
Question 17
5 out of 5 points
Laws which can assist creditors in collecting the payments due include:
Selected Answer:
All of the above
Correct Answer:
All of the above
Answer Feedback:
See CH. 33
Question 18
5 out of 5 points
Filing a bankruptcy petition operates as a binder
on virtually all litigation by creditors against the debtor.
Selected Answer:
False
Correct Answer:
Fals
e
Question 19
5 out of 5 points
The minimum number of members of a body of officials or other group that must be present before business can validly be transacted is called a dividend
.
Selected Answer:
False
Correct Answer:
Fals
e
Question 20
5 out of 5 points
Acts of a corporation that are beyond the authority given to it under its charter are called:
Selected Answer:
Ultra vires
Correct Answer:
Ultra vires
Answer Feedback:
Wednesday, January 31, 2024 1:09:31 PM EST