Question 1

__________ tariffs require the importer to pay a percentage of the value of the imported merchandise.

Accepted Answer

A)  Ad valorem 
B)  Ad hoc 
C)  Harmonized 
D)  Customs valuation 
A)  Ad valorem 
B)  Ad hoc 
C)  Harmonized 
D)  Customs valuation

Question 2

__________ law legal systems primarily rely on case law and precedents.

Accepted Answer

A)  Common 
B)  Civil 
C)  Statutory 
D)  Codified 
A)  Common 
B)  Civil 
C)  Statutory 
D)  Codified

Question 3

In India,Hindu law is applied to most commercial transactions.

Accepted Answer

A) True 
 B)False

Question 4

Some countries require employers to fund employee benefits that are not expected in the U.S.

Accepted Answer

A) True 
 B)False

Question 5

__________ can include boycotts of goods,refusal to maintain commercial relationships,and quotas.

Accepted Answer

A)  Economic sanctions 
B)  Embargoes 
C)  Tariffs 
D)  Dumping 
A)  Economic sanctions 
B)  Embargoes 
C)  Tariffs 
D)  Dumping

Question 6

When disputes arise,most western European countries use the "American rule" whereby each party,win or lose,generally pays its own attorney fees.

Accepted Answer

A) True 
 B)False

Question 7

Amanda was just hired to work for a federal agency in the procurement department.Amanda shops for the best buys possible and thinks she has found a great deal.She returns to her office and tells her supervisor about her discovery.Her boss tells her to be sure that the Buy American Act is satisfied.Amanda decides to research the law.What will she find?

Accepted Answer

A)  That under all circumstances federal agencies must purchase products that are 100% made in the U.S.A. 
B)  That under all circumstances federal agencies must purchase products with at least 75% of the components made in the U.S.A. 
C)  That unless the price is a certain percentage higher than the price of the equivalent foreign product, federal agencies must buy products with at least 50% of the components made in the U.S.A. 
D)  That federal agencies may buy foreign made products so long as it can be established that a representative did comparison shopping and established that the foreign made good is a better deal than the made in the U.S.A.product. 
A)  That under all circumstances federal agencies must purchase products that are 100% made in the U.S.A. 
B)  That under all circumstances federal agencies must purchase products with at least 75% of the components made in the U.S.A. 
C)  That unless the price is a certain percentage higher than the price of the equivalent foreign product, federal agencies must buy products with at least 50% of the components made in the U.S.A. 
D)  That federal agencies may buy foreign made products so long as it can be established that a representative did comparison shopping and established that the foreign made good is a better deal than the made in the U.S.A.product.

Question 8

In CASE 24.1Awad v.Ziriax(2012),Oklahoma passed the "Save Our State Amendment" which provided that Oklahoma courts could not consider international or Sharia law in making decisions.Awad,a muslim,was the executive director of the state chapter of the Council on American-Islamic Relations and sued.How did the court rule and why?

Accepted Answer

A)  The court dismissed Awad's lawsuit, holding that the First Amendment's Free Exercise clause does not apply to Muslims. 
B)  The court dismissed Awad's lawsuit, holding that he had no standing to challenge the law. 
C)  The court ruled for Awad, holding that the amendment violated Awad's First Amendment Right to Free Exercise of Religion was violated. 
D)  The court ruled for Awad, holding that Awad's right to Due Process and Equal Protection was denied by the amendment. 
A)  The court dismissed Awad's lawsuit, holding that the First Amendment's Free Exercise clause does not apply to Muslims. 
B)  The court dismissed Awad's lawsuit, holding that he had no standing to challenge the law. 
C)  The court ruled for Awad, holding that the amendment violated Awad's First Amendment Right to Free Exercise of Religion was violated. 
D)  The court ruled for Awad, holding that Awad's right to Due Process and Equal Protection was denied by the amendment.

Question 9

Customary practice arises from legislative action.

Accepted Answer

A) True 
 B)False

__________ tariffs require the importer to pay a percentage of the value of the imported merchandise.

__________ law legal systems primarily rely on case law and precedents.

In India,Hindu law is applied to most commercial transactions.

Some countries require employers to fund employee benefits that are not expected in the U.S.

__________ can include boycotts of goods,refusal to maintain commercial relationships,and quotas.

When disputes arise,most western European countries use the "American rule" whereby each party,win or lose,generally pays its own attorney fees.

Customary practice arises from legislative action.

Law, Value Creation, and Risk Management.

Ethics and the Law.

Sources of Law, Courts, and Dispute Resolution.

Constitutional Bases for Business Regulation.

Agency.

Administrative Law.

Contracts.

Sales, Licensing, and E-Commerce.

Torts and Privacy Protection.

Product Liability.

Intellectual Property.

The Employment Agreement.

Civil Rights and Employment Discrimination.

Criminal Law.

Environmental Law and Sustainability.

Antitrust.

Consumer Protection.

Real Property and Land Use.

Forms of Business Organizations.

Directors, Officers, and Controlling Shareholders.

Public and Private Offerings of Securities.

Securities Fraud and Insider Trading.

Debtor-Creditor Relations and Bankruptcy.

Filters

Exam 24: International Law and Transactions.

__________ tariffs require the importer to pay a percentage of the value of the imported merchandise.

__________ law legal systems primarily rely on case law and precedents.

In India,Hindu law is applied to most commercial transactions.

Some countries require employers to fund employee benefits that are not expected in the U.S.

__________ can include boycotts of goods,refusal to maintain commercial relationships,and quotas.

When disputes arise,most western European countries use the "American rule" whereby each party,win or lose,generally pays its own attorney fees.

Customary practice arises from legislative action.

Law, Value Creation, and Risk Management.

Ethics and the Law.

Sources of Law, Courts, and Dispute Resolution.

Constitutional Bases for Business Regulation.

Agency.

Administrative Law.

Contracts.

Sales, Licensing, and E-Commerce.

Torts and Privacy Protection.

Product Liability.

Intellectual Property.

The Employment Agreement.

Civil Rights and Employment Discrimination.

Criminal Law.

Environmental Law and Sustainability.

Antitrust.

Consumer Protection.

Real Property and Land Use.

Forms of Business Organizations.

Directors, Officers, and Controlling Shareholders.

Public and Private Offerings of Securities.

Securities Fraud and Insider Trading.

Debtor-Creditor Relations and Bankruptcy.

Filters