Question 1

An employee in a factory who is injured by his or her employer's negligence can sue:

Accepted Answer

A)  No one.
B)  The employer.
C)  Him- or herself.
D)  The worker's compensation board. A

Question 2

To qualify as a patent,an invention must be all of the following except:

Accepted Answer

A)  Useful.
B)  Novel.
C)  Valuable.
D)  Nonobvious. C

Question 3

During which period of the registration process may an issuer sell the offered securities?

Accepted Answer

A)  The prefiling period.
B)  The waiting period.
C)  The posteffective period.
D)  The medieval period. C

Question 4

A child who voluntarily leaves their parents and then lives on their own is:

Accepted Answer

A)  An idiot.
B)  Paroled.
C)  Emancipated.
D)  Allowed to vote,but not drink and smoke.

Question 5

Which of the following products does not need to be approved by the FDA before being sold to the public?

Accepted Answer

A)  Antidepressants.
B)  Cosmetics.
C)  Steroids.
D)  Vitamins.

Question 6

The parent who has legal custody of a child has:

Accepted Answer

A)  The right to make day-to-day decisions concerning the child's matters.
B)  The physical custody of the child as well,generally.
C)  Both of the above.
D)  None of the above.

Question 7

The owner of a trade secret is obligated to take all reasonable precautions to prevent those secrets from being discovered by others.

Accepted Answer

A) True 
 B)False

Question 8

If an investor owns shares in Microsoft,for instance,he or she does not have to register with the SEC before reselling those shares.

Accepted Answer

A) True 
 B)False

Question 9

States with air pollution problems that fail to develop or implement an approved plan for dealing with nonattainment areas are subject to the following sanctions:

Accepted Answer

A)  Loss of federal highway funds.
B)  Limitations on new sources of emissions.
C)  Both of the above.
D)  None of the above.

Question 10

A partner cannot violate the terms of the partnership agreement and withdraw and dissolve the partnership at any time.

Accepted Answer

A) True 
 B)False

Question 11

A sole proprietorship protects the owner from unlimited liability.

Accepted Answer

A) True 
 B)False

Question 12

The Securities and Exchange Commission is an example of specific government regulation.

Accepted Answer

A) True 
 B)False

Question 13

A manufacturing facility is an example of a stationary source of air pollution.

Accepted Answer

A) True 
 B)False

Question 14

The federal securities laws came about after the stock market crash.

Accepted Answer

A) True 
 B)False

Question 15

The following types of works are eligible for copyright protection:

Accepted Answer

A)  Dance routines.
B)  Photographs.
C)  None of the above.
D)  Both of the above.

Question 16

Who brings criminal actions against those charged with willfully violating the Securities Act of 1933?

Accepted Answer

A)  The Securities and Exchange Commission.
B)  The Justice Department.
C)  The Federal Securities Laws Enforcement Department.
D)  The National Department of Securities Violators.

Question 17

The following is not required to make a will:

Accepted Answer

A)  Testamentary capacity.
B)  Writing.
C)  Self-proving clause.
D)  Testator's signature.

Question 18

Attestation is the process where a will put through the legal process in order to distribute the testator's property.

Accepted Answer

A) True 
 B)False

Question 19

If a testator's will leaves his red Ferrari to his butler and his yellow Ferrari to his maid,and at the time of his death,the yellow Ferrari was sold,the following doctrine applies:

Accepted Answer

A)  Abatement.
B)  Ademption.
C)  Recrimination.
D)  Bequestability.

Question 20

The FedEx delivery person gets in an accident while delivering a package.Who is liable?

Accepted Answer

A)  The delivery person.
B)  FedEx.
C)  Both of the above.
D)  None of the above.

Exam 1: Midterm One

An employee in a factory who is injured by his or her employer's negligence can sue:

To qualify as a patent,an invention must be all of the following except:

During which period of the registration process may an issuer sell the offered securities?

A child who voluntarily leaves their parents and then lives on their own is:

Which of the following products does not need to be approved by the FDA before being sold to the public?

The parent who has legal custody of a child has:

The owner of a trade secret is obligated to take all reasonable precautions to prevent those secrets from being discovered by others.

If an investor owns shares in Microsoft,for instance,he or she does not have to register with the SEC before reselling those shares.

States with air pollution problems that fail to develop or implement an approved plan for dealing with nonattainment areas are subject to the following sanctions:

A partner cannot violate the terms of the partnership agreement and withdraw and dissolve the partnership at any time.

A sole proprietorship protects the owner from unlimited liability.

The Securities and Exchange Commission is an example of specific government regulation.

A manufacturing facility is an example of a stationary source of air pollution.

The federal securities laws came about after the stock market crash.

The following types of works are eligible for copyright protection:

Who brings criminal actions against those charged with willfully violating the Securities Act of 1933?

The following is not required to make a will:

Attestation is the process where a will put through the legal process in order to distribute the testator's property.

If a testator's will leaves his red Ferrari to his butler and his yellow Ferrari to his maid,and at the time of his death,the yellow Ferrari was sold,the following doctrine applies:

The FedEx delivery person gets in an accident while delivering a package.Who is liable?