Question 1

The World Bank established the Multilateral Investment Guarantee Agency to encourage increased investment in developing nations.

Accepted Answer

A) True 
 B)False  True

Question 2

A number of countries have joined together in Europe, Asia, Africa, and Latin America to coordinate their regional economies.Which of the following has NOT been an objective of such cooperation?

Accepted Answer

A)  Creation of "regional" legislatures with actual powers. 
B)  Lowering of tariffs or removing other trade barriers. 
C)  Providing adequate and effective enforcement of intellectual property rights. 
D)  Establishing an economic and monetary union. 
A)  Creation of "regional" legislatures with actual powers. 
B)  Lowering of tariffs or removing other trade barriers. 
C)  Providing adequate and effective enforcement of intellectual property rights. 
D)  Establishing an economic and monetary union. A

Question 3

Expropriation of property by a foreign government for a public purpose with the payment of just compensation, but without the consent of the owner, violates generally observed principles of international law.

Accepted Answer

A) True 
 B)False  False

Question 4

The United States and a Latin American country signed a treaty whereby the United States agreed to assist the Latin American country in controlling drug traffic.The United States, following the treaty, seized 100 square meters of land and bulldozed it, because it was a suspected haven of drug smuggling.The land in question was in Latin America, but belonged to an American citizen.Which of the following is correct?

Accepted Answer

A)  The treaty will supersede any general Constitutional rights because the treaty gave specific authorization for the act. 
B)  The act was not offensive to the Constitution, because it occurred in Latin America. 
C)  Constitutional rights apply to people, not to property. 
D)  Constitutional rights supersede treaties. 
A)  The treaty will supersede any general Constitutional rights because the treaty gave specific authorization for the act. 
B)  The act was not offensive to the Constitution, because it occurred in Latin America. 
C)  Constitutional rights apply to people, not to property. 
D)  Constitutional rights supersede treaties.

Question 5

The European Community was the predecessor to the:

Accepted Answer

A)  ICJ. 
B)  GAAT. 
C)  CISG. 
D)  EU. 
A)  ICJ. 
B)  GAAT. 
C)  CISG. 
D)  EU.

Question 6

The World Bank established the MIGA to eliminate the practice of dumping.

Accepted Answer

A) True 
 B)False

Question 7

The judicial branch of the United Nations is called the World Court.

Accepted Answer

A) True 
 B)False

Question 8

The U.S.Constitution provides that all valid treaties, which are agreements among independent nations, have the force of federal statutes.

Accepted Answer

A) True 
 B)False

Question 9

A country may issue to foreign citizens visas that permit them to enter the country for identified purposes or for specific periods of time.

Accepted Answer

A) True 
 B)False

Question 10

The U.N.Commission on International Trade Law develops model laws, such as the CISG and the UNCITRAL Model Law on Electronic Signatures.

Accepted Answer

A) True 
 B)False

Question 11

The United States and Germany may request an advisory opinion from the ICJ to settle a dispute over a trade issue.

Accepted Answer

A) True 
 B)False

Question 12

Why do governments impose tariffs?

Accepted Answer

A)  To protect domestic industries from foreign competition. 
B)  To raise revenues. 
C)  To attempt to improve their balance of trade. 
D)  Governments impose tariffs for all of the above reasons. 
A)  To protect domestic industries from foreign competition. 
B)  To raise revenues. 
C)  To attempt to improve their balance of trade. 
D)  Governments impose tariffs for all of the above reasons.

Question 13

The international organization which seeks to stabilize currency exchange is the:

Accepted Answer

A)  United Nations Exchange Branch. 
B)  International Court of Justice. 
C)  United States Treasury. 
D)  International Monetary Fund. 
A)  United Nations Exchange Branch. 
B)  International Court of Justice. 
C)  United States Treasury. 
D)  International Monetary Fund.

Question 14

Which of the following is an objective of the North American Free Trade Agreement (NAFTA)?

Accepted Answer

A)  Create trade barriers to the movement of goods and services across the borders. 
B)  Promote conditions of fair competition in the free trade area. 
C)  Decrease investment opportunities in the area. 
D)  Provide adequate and effective enforcement of all types of property rights. 
A)  Create trade barriers to the movement of goods and services across the borders. 
B)  Promote conditions of fair competition in the free trade area. 
C)  Decrease investment opportunities in the area. 
D)  Provide adequate and effective enforcement of all types of property rights.

Question 15

Kelly has just been appointed the manager of a company that has begun the direct export of its product.What precautions should he take to assure that the company will in fact be paid for its products when the company has never dealt with the buyers before and is new to the international legal environment?

Accepted Answer

The company should have a good working r

Question 16

How is "sovereign immunity" interpreted under U.S.law today?

Accepted Answer

A)  It gives absolute immunity to a foreign nation from all U.S. laws. 
B)  It gives immunity to foreign governments for commercial activity carried on in the U.S. by the foreign government. 
C)  It exempts the public acts of a foreign government, such as those involving diplomatic activity, from all U.S. laws. 
D)  All of these are a part of the interpretation. 
A)  It gives absolute immunity to a foreign nation from all U.S. laws. 
B)  It gives immunity to foreign governments for commercial activity carried on in the U.S. by the foreign government. 
C)  It exempts the public acts of a foreign government, such as those involving diplomatic activity, from all U.S. laws. 
D)  All of these are a part of the interpretation.

Question 17

Sovereign immunity is absolute immunity from the courts of a host country.

Accepted Answer

A) True 
 B)False

Question 18

When a treaty and a right declared under a subsequent federal statute conflict, the treaty must prevail.

Accepted Answer

A) True 
 B)False

Question 19

In Saudi Arabia v.Nelson , the court held:

Accepted Answer

A)  under the Foreign Sovereign Immunities Act, a foreign state is presumptively under the jurisdiction of the U.S. courts. 
B)  the Foreign Sovereign Immunities Act provides the sole basis for obtaining jurisdiction over a foreign state in the courts of this country. 
C)  whether a state acts in the manner of a private party is a question of motivation. 
D)  in determining whether a state engages in commercial activity, the question is whether the foreign government is motivated by profit. 
A)  under the Foreign Sovereign Immunities Act, a foreign state is presumptively under the jurisdiction of the U.S. courts. 
B)  the Foreign Sovereign Immunities Act provides the sole basis for obtaining jurisdiction over a foreign state in the courts of this country. 
C)  whether a state acts in the manner of a private party is a question of motivation. 
D)  in determining whether a state engages in commercial activity, the question is whether the foreign government is motivated by profit.

Question 20

Because there is no international currency, nations have sought to ease the flow of capital between them.

Accepted Answer

A) True 
 B)False

Exam 46: International Business Lawpart X: Property

The World Bank established the Multilateral Investment Guarantee Agency to encourage increased investment in developing nations.

A number of countries have joined together in Europe, Asia, Africa, and Latin America to coordinate their regional economies.Which of the following has NOT been an objective of such cooperation?

Expropriation of property by a foreign government for a public purpose with the payment of just compensation, but without the consent of the owner, violates generally observed principles of international law.

The European Community was the predecessor to the:

The World Bank established the MIGA to eliminate the practice of dumping.

The judicial branch of the United Nations is called the World Court.

The U.S.Constitution provides that all valid treaties, which are agreements among independent nations, have the force of federal statutes.

A country may issue to foreign citizens visas that permit them to enter the country for identified purposes or for specific periods of time.

The U.N.Commission on International Trade Law develops model laws, such as the CISG and the UNCITRAL Model Law on Electronic Signatures.

The United States and Germany may request an advisory opinion from the ICJ to settle a dispute over a trade issue.

Why do governments impose tariffs?

The international organization which seeks to stabilize currency exchange is the:

Which of the following is an objective of the North American Free Trade Agreement (NAFTA)?

How is "sovereign immunity" interpreted under U.S.law today?

Sovereign immunity is absolute immunity from the courts of a host country.

When a treaty and a right declared under a subsequent federal statute conflict, the treaty must prevail.

In Saudi Arabia v.Nelson , the court held:

Because there is no international currency, nations have sought to ease the flow of capital between them.

Introduction to Law

Business Ethicspart Ii: the Legal Environment of Business

Civil Dispute Resolution

Constitutional Law

Administrative Law

Criminal Law

Negligence and Strict Liabilitypart Iii: Contracts

Introduction to Contracts

Mutual Assent

Conduct Invalidating Assent

Consideration

Illegal Bargains

Contractual Capacity

Contracts in Writing

Third Parties to Contracts

Performance, Breach, and Discharge

Contract Remediespart Iv: Sales

Introduction to Sales and Leases

Performance

Transfer of Title and Risk of Loss

Product Liability: Warranties and Strict Liability

Sales Remediespart V: Negotiable Instruments

Form and Content

Transfer and Holder in Due Course

Liability of Parties

Bank Deposits, Collections, and Funds Transferspart Vi: Agency

Relationship of Principal and Agent

Relationship With Third Partiespart Vii: Business Associations

Formation and Internal Relations of General Partnerships

Operation and Dissolution of General Partnerships

Limited Partnerships and Limited Liability Companies

Nature and Formation of Corporations

Financial Structure of Corporations

Management Structure of Corporations

Fundamental Changes of Corporationspart Viii: Debtor and Creditor Relations

Secured Transactions and Suretyship

Bankruptcypart Ix: Regulation of Business

Securities Regulation

Intellectual Property

Employment Law

Antitrust

Accountants Legal Liability

Consumer Protection

Introduction to Property, Property Insurance, Bailments, and Documents of Title

Interests in Real Property

Transfer and Control of Real Property

Trusts and Wills

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