Question 1

NAFTA includes special protection for favored industries that have a lot of lobbying power.

Accepted Answer

A) True 
 B)False

Question 2

The country of Morocco has state-owned enterprises.The government of Morocco wants to raise capital for these state-owned enterprises,for which,the Moroccan government sells 15-year bonds in these companies to investors in the United States.The bondholders are to be paid 10 percent interest annually.What would happen if Morocco defaults and does not pay the U.S.investors the 10 percent interest on the bonds or the principal when due? Give reasons in support of your answer.

Accepted Answer

The Foreign Sovereign Immunities Act (FS

Question 3

UNICEF is funded by the monetary contributions of member nations,assessed based on the size of each nation's economy.

Accepted Answer

A) True 
 B)False

Question 4

The United States presently grants absolute immunity to foreign governments from suits in U.S.courts with no exceptions.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following constitutional provision gives the U.S.federal government more authority to regulate foreign affairs than state governments?

Accepted Answer

A)  the Due Process Clause 
B)  the Equal Protection Clause 
C)  the Free Exercise Clause 
D)  the Treaty Clause 
A)  the Due Process Clause 
B)  the Equal Protection Clause 
C)  the Free Exercise Clause 
D)  the Treaty Clause

Question 6

The IMF is funded by ________.

Accepted Answer

A)  monetary contributions of member nations 
B)  private donations from nonprofit organizations 
C)  the World Bank 
D)  the United Nations 
A)  monetary contributions of member nations 
B)  private donations from nonprofit organizations 
C)  the World Bank 
D)  the United Nations

Question 7

Russia is a permanent member of the UN Security Council.

Accepted Answer

A) True 
 B)False

Question 8

The General Assembly of the United Nations is ________.

Accepted Answer

A)  a collection of autonomous agencies that deal with the socio-economic problems of third-world countries 
B)  the legislative body of the United Nation that is composed of all UN members 
C)  a group of 15 member nations that is primarily responsible for maintaining international peace and security 
D)  the staff of persons that administers the day-to-day operations of the UN 
A)  a collection of autonomous agencies that deal with the socio-economic problems of third-world countries 
B)  the legislative body of the United Nation that is composed of all UN members 
C)  a group of 15 member nations that is primarily responsible for maintaining international peace and security 
D)  the staff of persons that administers the day-to-day operations of the UN

Question 9

Which of the following is true of the International Monetary Fund?

Accepted Answer

A)  The IMF is a federal body that consists of representatives of all the states and federal experts in the United States. 
B)  The IMF is funded from the Superfund created by the Comprehensive Environmental Response, Compensation, and Liability Act. 
C)  The IMF is an autonomous agency under the UN which promotes sound monetary, fiscal, and macroeconomic policies worldwide. 
D)  The IMF is responsible for providing one-time grants to needy countries with no terms and conditions attached to the assistance. 
A)  The IMF is a federal body that consists of representatives of all the states and federal experts in the United States. 
B)  The IMF is funded from the Superfund created by the Comprehensive Environmental Response, Compensation, and Liability Act. 
C)  The IMF is an autonomous agency under the UN which promotes sound monetary, fiscal, and macroeconomic policies worldwide. 
D)  The IMF is responsible for providing one-time grants to needy countries with no terms and conditions attached to the assistance.

Question 10

An agreement between two or more nations that is formally signed by an authorized representative of each nation and ratified by each nation is defined as a(n)________.

Accepted Answer

A)  statute 
B)  charter 
C)  treaty 
D)  arraignment 
A)  statute 
B)  charter 
C)  treaty 
D)  arraignment

Question 11

The Asia-Pacific region is the world's slowest-growing economic region.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following statements is true of the NAFTA?

Accepted Answer

A)  Consumers in the United States, Canada, and Mexico began to pay higher prices for goods and services after the formation of NAFTA. 
B)  Critics contend that NAFTA shifted Mexican jobs, particularly blue-collar jobs, to the United States. 
C)  Environmentalists have appreciated the pact for preventing pollution in Mexico and for helping the country clean up its natural environment. 
D)  Many economists assert that NAFTA is not a "free trade" pact but a managed trade agreement. 
A)  Consumers in the United States, Canada, and Mexico began to pay higher prices for goods and services after the formation of NAFTA. 
B)  Critics contend that NAFTA shifted Mexican jobs, particularly blue-collar jobs, to the United States. 
C)  Environmentalists have appreciated the pact for preventing pollution in Mexico and for helping the country clean up its natural environment. 
D)  Many economists assert that NAFTA is not a "free trade" pact but a managed trade agreement.

Question 13

Which of the following statements is true with regard to international law?

Accepted Answer

A)  All legal matters of international importance are prosecuted by a single world court that is responsible for interpreting international law. 
B)  The enforcement of all international laws is regulated by a unitary world executive branch. 
C)  There is no single legislative source from which all international laws are created. 
D)  All countries have to follow the international laws enacted by other countries. 
A)  All legal matters of international importance are prosecuted by a single world court that is responsible for interpreting international law. 
B)  The enforcement of all international laws is regulated by a unitary world executive branch. 
C)  There is no single legislative source from which all international laws are created. 
D)  All countries have to follow the international laws enacted by other countries.

Question 14

The ________ is an institution of the EU that has the authority to enact legislation and to take enforcement actions to ensure member compliance with the treaty.

Accepted Answer

A)  European Union Commission 
B)  European Parliament 
C)  European Council 
D)  European Court of Auditors 
A)  European Union Commission 
B)  European Parliament 
C)  European Council 
D)  European Court of Auditors

Question 15

________ is a clause in an international contract that designates which nation's court has jurisdiction to hear a case arising out of the contract.

Accepted Answer

A)  Equal protection clause 
B)  Supremacy clause 
C)  Forum-selection clause 
D)  Choice of law clause 
A)  Equal protection clause 
B)  Supremacy clause 
C)  Forum-selection clause 
D)  Choice of law clause

Question 16

The World Bank is ________.

Accepted Answer

A)  an autonomous agency under the aegis of the European Union 
B)  an agency that monitors the financial collaborations taking place in the eurozone 
C)  primarily responsible for promoting sound monetary, fiscal, and macroeconomic policies worldwide 
D)  primarily responsible for providing money to developing countries to fund projects for humanitarian purposes 
A)  an autonomous agency under the aegis of the European Union 
B)  an agency that monitors the financial collaborations taking place in the eurozone 
C)  primarily responsible for promoting sound monetary, fiscal, and macroeconomic policies worldwide 
D)  primarily responsible for providing money to developing countries to fund projects for humanitarian purposes

Question 17

The FSIA provides that a foreign country is not immune to lawsuits in U.S.courts if the foreign country has waived its immunity,either explicitly or by implication.

Accepted Answer

A) True 
 B)False

Question 18

The ________ prescribes comprehensive and integrated rules of religious,political,and legal life that together form Jewish thought.

Accepted Answer

A)  Bhagavad Gita 
B)  Torah 
C)  Principia Discordia 
D)  Book of the Zodiac 
A)  Bhagavad Gita 
B)  Torah 
C)  Principia Discordia 
D)  Book of the Zodiac

Question 19

Only nations,not individuals or businesses,can have cases decided by the International Court of Justice.

Accepted Answer

A) True 
 B)False

Question 20

The International Court of Justice is composed of ________.

Accepted Answer

A)  15 judges who serve nine-year terms 
B)  10 judges who serve five-year terms 
C)  9 judges who serve ten-year terms 
D)  10 judges who serve twelve-year terms 
A)  15 judges who serve nine-year terms 
B)  10 judges who serve five-year terms 
C)  9 judges who serve ten-year terms 
D)  10 judges who serve twelve-year terms

Exam 41: International and World Trade Law

NAFTA includes special protection for favored industries that have a lot of lobbying power.

UNICEF is funded by the monetary contributions of member nations,assessed based on the size of each nation's economy.

The United States presently grants absolute immunity to foreign governments from suits in U.S.courts with no exceptions.

Which of the following constitutional provision gives the U.S.federal government more authority to regulate foreign affairs than state governments?

The IMF is funded by ________.

Russia is a permanent member of the UN Security Council.

The General Assembly of the United Nations is ________.

Which of the following is true of the International Monetary Fund?

An agreement between two or more nations that is formally signed by an authorized representative of each nation and ratified by each nation is defined as a(n)________.

The Asia-Pacific region is the world's slowest-growing economic region.

Which of the following statements is true of the NAFTA?

Which of the following statements is true with regard to international law?

The ________ is an institution of the EU that has the authority to enact legislation and to take enforcement actions to ensure member compliance with the treaty.

________ is a clause in an international contract that designates which nation's court has jurisdiction to hear a case arising out of the contract.

The World Bank is ________.

The FSIA provides that a foreign country is not immune to lawsuits in U.S.courts if the foreign country has waived its immunity,either explicitly or by implication.

The ________ prescribes comprehensive and integrated rules of religious,political,and legal life that together form Jewish thought.

Only nations,not individuals or businesses,can have cases decided by the International Court of Justice.

The International Court of Justice is composed of ________.

Legal Heritage and the Digital Age

Constitutional Law for Business and E-commerce

Courts and Jurisdiction

Judicial Alternative Administrative and E-Dispute Resolution

Intentional Torts and Negligence

Criminal Law and Cyber Crimes

Intellectual Property and Cyber Piracy

Ethics and Social Responsibility of Business

Nature of Traditional and E-Contracts

Agreement and Consideration

Capacity and Legality

Genuineness of Assent and Statute of Frauds

Third-Party Rights and Discharge

Breach of Contract and Remedies

Digital Law and E-Commerce

Formation of Sales and Lease Contracts

Title to Goods and Risk of Loss

Remedies for Breach of Sales and Lease Contracts

Warranties and Product Liability

Creation and Transfer of Negotiable Instruments

Holder in Due Course and Liability of Parties

Banking System and Electronic Financial Transactions

Credit, Real Property Financing, and Secured Transactions

Bankruptcy and Reorganization

Agency law

Small Business, Entrepreneurship, and Partnerships

Corporate Formation and Financing

Corporate Governance and the Sarbanes-Oxley Act

Corporate Acquisitions and Multinational Corporations

Limited Liability Companies and Limited Liability Partnerships

Franchise and Special Forms of Business

Investor Protection, E-Securities, and Wall Street Reform

Antitrust Law and Unfair Trade Practices

Consumer Safety and Environmental Protection

Labor, Worker Protection, and Immigration Laws

Equal Opportunity in Employment

Personal Property, Bailment, and Insurance

Real Property, Landlord-Tenant Law, and Land Use Regulation

Family Law, Wills, and Trusts

Accountants' Duties and Liability

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