Question 1

GATT stands for the:

Accepted Answer

A) General Agreement on Tariffs and Taxation. 
B) General Agreement on Transportation and Taxation. 
C) General Agreement on Tariffs and Trade. 
D) General Agreement on Trade and Tobacco. 
A) General Agreement on Tariffs and Taxation. 
B) General Agreement on Transportation and Taxation. 
C) General Agreement on Tariffs and Trade. 
D) General Agreement on Trade and Tobacco. C

Question 2

The government of Argentina has taken over all the country's banks. No compensation has been paid. Some U.S. citizens and businesses had accounts in the banks. Absent treaty provisions the takeover:

Accepted Answer

A) can be set aside by a U.S. federal court because no compensation was paid. 
B) can be partially set aside by a U.S. federal court on the accounts of U.S. citizens and businesses. 
C) can be reviewed by the U.S. State Department. 
D) is immune from review under the act of state doctrine. 
A) can be set aside by a U.S. federal court because no compensation was paid. 
B) can be partially set aside by a U.S. federal court on the accounts of U.S. citizens and businesses. 
C) can be reviewed by the U.S. State Department. 
D) is immune from review under the act of state doctrine. D

Question 3

"When in Rome, do as the Romans do" is a recognized defense under the FCPA.

Accepted Answer

A) True 
 B)False  False

Question 4

Repatriation is the limitation on removal of profits earned in a country from that country.

Accepted Answer

A) True 
 B)False

Question 5

Tariffs can be revenue-raising and protectionist for domestic goods.

Accepted Answer

A) True 
 B)False

Question 6

The Kyoto Treaty no longer has the support of the U.S.

Accepted Answer

A) True 
 B)False

Question 7

A foreign country engaging in commercial transactions in the United States is not protected by the doctrine of sovereign immunity for those transactions.

Accepted Answer

A) True 
 B)False

Question 8

Discuss the history and purpose of the International Monetary Fund (IMF).

Accepted Answer

Created at Bretton Woods, New Hampshire,

Question 9

In a polychronic culture, multitasking is seen as necessary so that a job can be completed quickly.

Accepted Answer

A) True 
 B)False

Question 10

U.S. courts have no jurisdiction over foreign businesses with operations in the United States.

Accepted Answer

A) True 
 B)False

Question 11

There was some resistance to granting China MFN status.

Accepted Answer

A) True 
 B)False

Question 12

Forum non conveniens :

Accepted Answer

A) is a principle of U.S. justice. 
B) is a principle of jurisdiction. 
C) can require a case to be sent out of the U.S. 
D) All of the above 
A) is a principle of U.S. justice. 
B) is a principle of jurisdiction. 
C) can require a case to be sent out of the U.S. 
D) All of the above

Question 13

The contact lens company, Here's Clear Eye, sold thousands of pairs of contact lenses in Kenya. The lenses were defective and resulted in severe eye infections, and in 156 cases, blindness. The purchasers of the lenses who bring suit in Kenya will be entitled to recover their purchase price, attorney fees and medical bills. Kenya does not permit recovery for pain and suffering nor for permanent injury. Several of the purchasers who are blind have brought suit in South Carolina, the home of Here's Clear Eye. South Carolina permits recovery for permanent injury as well as punitive damages. The average recovery in Kenya for the purchasers is $600. A lawyer for the purchasers from Columbia, South Carolina estimates the average verdict will be $600,000. Which of the following statements is true?

Accepted Answer

A) The Kenya purchasers may use the South Carolina courts because their remedies in Kenya are inadequate. 
B) The South Carolina cases will be dismissed on the grounds of forum non conveniens . 
C) The Kenya purchasers can recover only punitive damages in South Carolina. 
D) The Kenya purchasers can recover only for permanent injuries in South Carolina. 
A) The Kenya purchasers may use the South Carolina courts because their remedies in Kenya are inadequate. 
B) The South Carolina cases will be dismissed on the grounds of forum non conveniens . 
C) The Kenya purchasers can recover only punitive damages in South Carolina. 
D) The Kenya purchasers can recover only for permanent injuries in South Carolina.

Question 14

The EU created the European _____ that has authority to issue regulations and decisions that are binding on all EU members.

Accepted Answer

A) Commission 
B) Council 
C) Parliment 
D) Community 
A) Commission 
B) Council 
C) Parliment 
D) Community

Question 15

Discuss how NAFTA differs from the EU.

Accepted Answer

The North American Free Trade Agreement

Question 16

U.S. businesses that break laws while operating in foreign countries:

Accepted Answer

A) cannot be prosecuted in those countries. 
B) are immune under the act of state doctrine. 
C) are subject to full prosecution, fines, and imprisonment. 
D) None of the above 
A) cannot be prosecuted in those countries. 
B) are immune under the act of state doctrine. 
C) are subject to full prosecution, fines, and imprisonment. 
D) None of the above

Question 17

Rich Hasbro is a vice president for Huffy Diapers. He currently heads the African division of this international company. He has just been able to secure approval for sale of Huffy Pull-Ons in the Sudan. When the Pull-Ons arrive at the borders, a customs agent demands $5,000 before he will allow the Pull-Ons into his country. Rich tells the trucking company, "Pay him. I'll reimburse."

Accepted Answer

A) Rich has not violated the FCPA because this is a facilitation payment. 
B) Rich has not violated the FCPA because a third party made the payment. 
C) Rich has violated the FCPA. 
D) None of the above 
A) Rich has not violated the FCPA because this is a facilitation payment. 
B) Rich has not violated the FCPA because a third party made the payment. 
C) Rich has violated the FCPA. 
D) None of the above

Question 18

The United State has, since 1989, prohibited U.S.-based companies from selling military equipment to China. This restriction is an example of:

Accepted Answer

A) a treaty trade restriction. 
B) an individual nation sanction. 
C) an illegal boycott. 
D) None of the above 
A) a treaty trade restriction. 
B) an individual nation sanction. 
C) an illegal boycott. 
D) None of the above

Question 19

MFN stands for "most favored nation" status under GATT.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following best describes the duties of U.S. companies when using agents in foreign countries?

Accepted Answer

A) The company is not liable for the agent's actions that might involve payments in violations of the FCPA unless someone in the company actually knew about the payments. 
B) The company has strict criminal liability for whatever the agent does. 
C) The company has criminal liability only if the agent is an employee. 
D) The company has criminal liability if it fails to do a background check or fails to monitor payments to the agent. 
A) The company is not liable for the agent's actions that might involve payments in violations of the FCPA unless someone in the company actually knew about the payments. 
B) The company has strict criminal liability for whatever the agent does. 
C) The company has criminal liability only if the agent is an employee. 
D) The company has criminal liability if it fails to do a background check or fails to monitor payments to the agent.

GATT stands for the:

The government of Argentina has taken over all the country's banks. No compensation has been paid. Some U.S. citizens and businesses had accounts in the banks. Absent treaty provisions the takeover:

"When in Rome, do as the Romans do" is a recognized defense under the FCPA.

Repatriation is the limitation on removal of profits earned in a country from that country.

Tariffs can be revenue-raising and protectionist for domestic goods.

The Kyoto Treaty no longer has the support of the U.S.

A foreign country engaging in commercial transactions in the United States is not protected by the doctrine of sovereign immunity for those transactions.

Discuss the history and purpose of the International Monetary Fund (IMF).

In a polychronic culture, multitasking is seen as necessary so that a job can be completed quickly.

U.S. courts have no jurisdiction over foreign businesses with operations in the United States.

There was some resistance to granting China MFN status.

Forum non conveniens :

The EU created the European _____ that has authority to issue regulations and decisions that are binding on all EU members.

Discuss how NAFTA differs from the EU.

U.S. businesses that break laws while operating in foreign countries:

The United State has, since 1989, prohibited U.S.-based companies from selling military equipment to China. This restriction is an example of:

MFN stands for "most favored nation" status under GATT.

Which of the following best describes the duties of U.S. companies when using agents in foreign countries?

Introduction to Law

Business Ethics and Social Responsibility

The Court System and Dispute Resolution

Business and the Constitution

Administrative Law

Business Crime

Business Torts

Environmental Regulation and Sustainability

Contracts and Sales: Introduction and Formation

Contracts and Sales: Performance, Remedies, and Rights

Business Marketing and Products: Ads and Product Safety

Business Competition: Antitrust Law

Business and Intellectual Property Law

Agency Law

Governance and Structure: the Law of Business Associations

Governance and Regulation: Securities Law

Business and Employees: Employment Regulation

Business and Employees: Employment Discrimination

Filters

Exam 6: International Law

GATT stands for the:

The government of Argentina has taken over all the country's banks. No compensation has been paid. Some U.S. citizens and businesses had accounts in the banks. Absent treaty provisions the takeover:

"When in Rome, do as the Romans do" is a recognized defense under the FCPA.

Repatriation is the limitation on removal of profits earned in a country from that country.

Tariffs can be revenue-raising and protectionist for domestic goods.

The Kyoto Treaty no longer has the support of the U.S.

A foreign country engaging in commercial transactions in the United States is not protected by the doctrine of sovereign immunity for those transactions.

Discuss the history and purpose of the International Monetary Fund (IMF).

In a polychronic culture, multitasking is seen as necessary so that a job can be completed quickly.

U.S. courts have no jurisdiction over foreign businesses with operations in the United States.

There was some resistance to granting China MFN status.

Forum non conveniens :

The EU created the European _____ that has authority to issue regulations and decisions that are binding on all EU members.

Discuss how NAFTA differs from the EU.

U.S. businesses that break laws while operating in foreign countries:

The United State has, since 1989, prohibited U.S.-based companies from selling military equipment to China. This restriction is an example of:

MFN stands for "most favored nation" status under GATT.

Which of the following best describes the duties of U.S. companies when using agents in foreign countries?

Introduction to Law

Business Ethics and Social Responsibility

The Court System and Dispute Resolution

Business and the Constitution

Administrative Law

Business Crime

Business Torts

Environmental Regulation and Sustainability

Contracts and Sales: Introduction and Formation

Contracts and Sales: Performance, Remedies, and Rights

Business Marketing and Products: Ads and Product Safety

Business Competition: Antitrust Law

Business and Intellectual Property Law

Agency Law

Governance and Structure: the Law of Business Associations

Governance and Regulation: Securities Law

Business and Employees: Employment Regulation

Business and Employees: Employment Discrimination

Filters