Question 1

The International Monetary Fund (IMF)is an example of an autonomous agency that is a part of the UN.

Accepted Answer

A) True 
 B)False

Question 2

Any state or local law that unduly burdens foreign commerce is considered to be in violation of the Foreign Commerce Clause.

Accepted Answer

A) True 
 B)False

Question 3

If a state enacts a law that increases its tax on imported automobiles but not on American-made automobiles,it violates the ________ Clause of the U.S.Constitution.

Accepted Answer

A) Equal Protection 
B) Foreign Commerce 
C) Privileges and Immunities 
D) Due Process 
A) Equal Protection 
B) Foreign Commerce 
C) Privileges and Immunities 
D) Due Process

Question 4

The United Nations (UN)Secretariat is headed by the secretary-general of the UN.

Accepted Answer

A) True 
 B)False

Question 5

What is the World Bank? What is its function?

Accepted Answer

The World Bank is a United Nations agenc

Question 6

The ________ is a regional international organization that comprises many countries of Western and Eastern Europe and was created to promote peace and security as well as economic,social,and cultural development.

Accepted Answer

A) Eastern Bloc 
B) Common Market 
C) North Atlantic Treaty Organization (NATO) 
D) European Union (EU) 
A) Eastern Bloc 
B) Common Market 
C) North Atlantic Treaty Organization (NATO) 
D) European Union (EU)

Question 7

Which of the following statements is true of the Treaty Clause?

Accepted Answer

A) It provides that the president can make treaties autonomously. 
B) It provides that the president can enter into treaties with two-thirds senate approval. 
C) It provides that the states have exclusive power to regulate internal and foreign affairs. 
D) It provides that the federal government has supremacy over the state in matters of international trade. 
A) It provides that the president can make treaties autonomously. 
B) It provides that the president can enter into treaties with two-thirds senate approval. 
C) It provides that the states have exclusive power to regulate internal and foreign affairs. 
D) It provides that the federal government has supremacy over the state in matters of international trade.

Question 8

Classical Hindu law heavily rests on civil codes adopted during the reigns of different kings.

Accepted Answer

A) True 
 B)False

Question 9

The European Union (EU)treaty creates open borders for trade by providing for the free flow of capital,labor,goods,and services among member nations.

Accepted Answer

A) True 
 B)False

Question 10

The General Assembly of the United Nations (UN)is ________.

Accepted Answer

A) a special task committee that addresses the socioeconomic problems of the United States 
B) the legislative body of the UN that is composed of all UN member nations 
C) a group of 15 member nations that is primarily responsible for maintaining international peace and security 
D) an autonomous committee that administers the day-to-day operations of the UN 
A) a special task committee that addresses the socioeconomic problems of the United States 
B) the legislative body of the UN that is composed of all UN member nations 
C) a group of 15 member nations that is primarily responsible for maintaining international peace and security 
D) an autonomous committee that administers the day-to-day operations of the UN

Question 11

A unanimous vote of existing European Union (EU)members is needed to admit a new member country.

Accepted Answer

A) True 
 B)False

Question 12

Under the Treaty Clause,the ________ is seen as the agent of the United States in dealing with foreign countries.

Accepted Answer

A) United Nations (UN)Secretariat 
B) U.S.president 
C) United Nations (UN) 
D) U.S.Senate 
A) United Nations (UN)Secretariat 
B) U.S.president 
C) United Nations (UN) 
D) U.S.Senate

Question 13

The ________ is a treaty between the United States,Mexico,and Canada to create a free trade zone between the three countries.

Accepted Answer

North Amer

Question 14

The ________ is an international organization of 160 member nations created in 1995 to promote and enforce trade agreements among member countries and customs territories.

Accepted Answer

A) World Trade Organization (WTO) 
B) International Monetary Fund (IMF) 
C) North American Free Trade Commission (NAFT
A)  
D) General Agreement on Tariffs and Trade (GATT) 
A) World Trade Organization (WTO) 
B) International Monetary Fund (IMF) 
C) North American Free Trade Commission (NAFT
A)  
D) General Agreement on Tariffs and Trade (GATT)

Question 15

The Treaty Clause of the U.S.Constitution designates the president of the United States as its agent to deal with foreign affairs.

Accepted Answer

A) True 
 B)False

Question 16

A choice of law clause is a clause in an international contract that designates which nation's equity principles will be applied in mediating a dispute arising out of a contract.

Accepted Answer

A) True 
 B)False

Question 17

The ________ Act exclusively governs suits against foreign nations that are brought in federal or state courts in the United States.

Accepted Answer

Foreign So

Question 18

Ecuador,Algeria,and the United Arab Emirates are members of the ________.

Accepted Answer

A) North American Free Trade Agreement (NAFT
A)  
B) Dominican Republic-Central America Free Trade Agreement (DR-CAFT
A)  
C) Association of Southeast Asian Nations (ASEAN) 
D) Organization of the Petroleum Exporting Countries (OPE
C)  
A) North American Free Trade Agreement (NAFT
A)  
B) Dominican Republic-Central America Free Trade Agreement (DR-CAFT
A)  
C) Association of Southeast Asian Nations (ASEAN) 
D) Organization of the Petroleum Exporting Countries (OPE
C)

Question 19

The secretary-general of the United Nations (UN)is elected by the Security Council.

Accepted Answer

A) True 
 B)False

Question 20

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

Accepted Answer

A) forum-selection 
B) treaty 
C) foreign commerce 
D) choice of law 
A) forum-selection 
B) treaty 
C) foreign commerce 
D) choice of law

Exam 26: International and World Trade Law

The International Monetary Fund (IMF)is an example of an autonomous agency that is a part of the UN.

Any state or local law that unduly burdens foreign commerce is considered to be in violation of the Foreign Commerce Clause.

If a state enacts a law that increases its tax on imported automobiles but not on American-made automobiles,it violates the ________ Clause of the U.S.Constitution.

The United Nations (UN)Secretariat is headed by the secretary-general of the UN.

What is the World Bank? What is its function?

The ________ is a regional international organization that comprises many countries of Western and Eastern Europe and was created to promote peace and security as well as economic,social,and cultural development.

Which of the following statements is true of the Treaty Clause?

Classical Hindu law heavily rests on civil codes adopted during the reigns of different kings.

The European Union (EU)treaty creates open borders for trade by providing for the free flow of capital,labor,goods,and services among member nations.

The General Assembly of the United Nations (UN)is ________.

A unanimous vote of existing European Union (EU)members is needed to admit a new member country.

Under the Treaty Clause,the ________ is seen as the agent of the United States in dealing with foreign countries.

The ________ is a treaty between the United States,Mexico,and Canada to create a free trade zone between the three countries.

The ________ is an international organization of 160 member nations created in 1995 to promote and enforce trade agreements among member countries and customs territories.

The Treaty Clause of the U.S.Constitution designates the president of the United States as its agent to deal with foreign affairs.

A choice of law clause is a clause in an international contract that designates which nation's equity principles will be applied in mediating a dispute arising out of a contract.

The ________ Act exclusively governs suits against foreign nations that are brought in federal or state courts in the United States.

Ecuador,Algeria,and the United Arab Emirates are members of the ________.

The secretary-general of the United Nations (UN)is elected by the Security Council.

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

Legal Heritage and the Digital Age

Ethics and Social Responsibility of Business

Courts, Jurisdiction, and Administrative Agencies

Alternative, Judicial, and E-Dispute Resolution

Constitutional Law for Business and E-Commerce

Torts and Strict Liability

Cyber Law and Cyber Crimes

Intellectual Property and Cyber Piracy

Formation and Requirements of Contracts

Performance and Breach of Contracts

Digital Law and E-Commerce

UCC Sales Contracts, Leases, and Warranties

Credit, Secured Transactions, and Bankruptcy

Small Business, General Partnerships, and Limited Partnerships

Limited Liability Companies, Limited Liability Partnerships, and Special Forms of Business

Corporations and Corporate Governance

Investor Protection, E-Securities, and Wall Street Reform

Agency Law

Equal Opportunity in Employment

Employment Law and Worker Protection

Labor Law and Immigration Law

Antitrust Law and Unfair Trade Practices

Consumer Protection

Environmental Protection

Real Property and Land Use Regulation

Accountants' Duties and Liability

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