Question 1

DR-CAFTA removed all tariffs and trade restrictions among member nations.

Accepted Answer

A) True 
 B)False

Question 2

Distinguish between the act of state doctrine and the doctrine of sovereign immunity.

Accepted Answer

A general principle of international law

Question 3

All the countries of the world are members of the United Nations.

Accepted Answer

A) True 
 B)False

Question 4

One of the primary functions of the WTO is to hear and decide trade disputes between member nations.

Accepted Answer

A) True 
 B)False

Question 5

One of the member nations of the WTO believes that another member nation has breached one of the trade agreements between them.What course of action is the WTO likely to take?

Accepted Answer

The dispute will first be heard by a thr

Question 6

The ________ is a staff of persons that administers the day-to-day operations of the UN.

Accepted Answer

A)  Council of Ministers 
B)  Security Council 
C)  General Assembly 
D)  Secretariat 
A)  Council of Ministers 
B)  Security Council 
C)  General Assembly 
D)  Secretariat

Question 7

________ is a Dialogue Partner country of ASEAN and meets regularly with ASEAN to discuss regional and economic issues.

Accepted Answer

A)  The United States 
B)  The United Kingdom 
C)  Japan 
D)  South Korea 
A)  The United States 
B)  The United Kingdom 
C)  Japan 
D)  South Korea

Question 8

Explain with the help of an example why any state or local law that unduly burdens foreign commerce is considered unconstitutional in the United States.

Accepted Answer

Though the U.S.Constitution divides the

Question 9

The UN General Assembly is composed of 15 member nations.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following is an exception to the Foreign Sovereign Immunities Act?

Accepted Answer

A)  sham exception 
B)  managed trade exception 
C)  diversity of citizenship exception 
D)  commercial activity exception 
A)  sham exception 
B)  managed trade exception 
C)  diversity of citizenship exception 
D)  commercial activity exception

Question 11

U.S.wage rates are about one-tenth of those in Mexico and Canada.

Accepted Answer

A) True 
 B)False

Question 12

Throughout Christianity,divine and natural laws have been issued in the form of ________.

Accepted Answer

A)  edicts 
B)  conventions 
C)  amendments 
D)  canons 
A)  edicts 
B)  conventions 
C)  amendments 
D)  canons

Question 13

The UN Security Council is composed of ________ member nations.

Accepted Answer

A)  5 
B)  10 
C)  15 
D)  20 
A)  5 
B)  10 
C)  15 
D)  20

Question 14

The IMF comprises more than 180 countries,of which 50 countries are elected and represented on the board of directors.

Accepted Answer

A) True 
 B)False

Question 15

The Eurozone comprises of ________.

Accepted Answer

A)  all the members of the EU 
B)  EU countries that have voted to use the euro 
C)  all countries of the continent of Europe 
D)  EU countries that have eliminated custom tariffs on trade with each other 
A)  all the members of the EU 
B)  EU countries that have voted to use the euro 
C)  all countries of the continent of Europe 
D)  EU countries that have eliminated custom tariffs on trade with each other

Question 16

Suppose the country of Vietnam outlaws the practice of all religions in that country.Abraham,a Jew,who is a citizen of,and living in,the United States,disagrees with Vietnam's law.Abraham brings a lawsuit against Vietnam in a U.S.district court located in the state of Colorado,arguing to the court that the Vietnamese law should be declared illegal.What action would the district court take?

Accepted Answer

A general principle of international law

Question 17

The WTO is headquartered in ________.

Accepted Answer

A)  Paris 
B)  The Hague 
C)  New York City 
D)  Geneva 
A)  Paris 
B)  The Hague 
C)  New York City 
D)  Geneva

Question 18

Africa is the only region where regional economic communities have not been formed.

Accepted Answer

A) True 
 B)False

Question 19

The goal of ________ is to provide humanitarian aid and assistance to children and mothers of children,primarily in developing countries.

Accepted Answer

A)  IFAD 
B)  IMF 
C)  UNESCO 
D)  UNICEF 
A)  IFAD 
B)  IMF 
C)  UNESCO 
D)  UNICEF

Question 20

Which of the following statements is true of the International Court of Justice?

Accepted Answer

A)  It is the executive branch of the United Nations that helps interpret international law. 
B)  It only hears cases of nations, and not of individuals and businesses. 
C)  It does have the authority to hear cases involving treaties and UN charters. 
D)  It is headed by the secretary-general of the United Nations. 
A)  It is the executive branch of the United Nations that helps interpret international law. 
B)  It only hears cases of nations, and not of individuals and businesses. 
C)  It does have the authority to hear cases involving treaties and UN charters. 
D)  It is headed by the secretary-general of the United Nations.

Exam 41: International and World Trade Law

DR-CAFTA removed all tariffs and trade restrictions among member nations.

Distinguish between the act of state doctrine and the doctrine of sovereign immunity.

All the countries of the world are members of the United Nations.

One of the primary functions of the WTO is to hear and decide trade disputes between member nations.

One of the member nations of the WTO believes that another member nation has breached one of the trade agreements between them.What course of action is the WTO likely to take?

The ________ is a staff of persons that administers the day-to-day operations of the UN.

________ is a Dialogue Partner country of ASEAN and meets regularly with ASEAN to discuss regional and economic issues.

Explain with the help of an example why any state or local law that unduly burdens foreign commerce is considered unconstitutional in the United States.

The UN General Assembly is composed of 15 member nations.

Which of the following is an exception to the Foreign Sovereign Immunities Act?

U.S.wage rates are about one-tenth of those in Mexico and Canada.

Throughout Christianity,divine and natural laws have been issued in the form of ________.

The UN Security Council is composed of ________ member nations.

The IMF comprises more than 180 countries,of which 50 countries are elected and represented on the board of directors.

The Eurozone comprises of ________.

The WTO is headquartered in ________.

Africa is the only region where regional economic communities have not been formed.

The goal of ________ is to provide humanitarian aid and assistance to children and mothers of children,primarily in developing countries.

Which of the following statements is true of the International Court of Justice?

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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