Question 1

The euro can only be used in countries that are part of the eurozone.

Accepted Answer

A) True 
 B)False

Question 2

A nation can seek redress on behalf of an individual or a business that has a claim against another country in the International Court of Justice.

Accepted Answer

A) True 
 B)False

Question 3

The United States follows the principle of restricted immunity for suits against foreign nations.

Accepted Answer

A) True 
 B)False

Question 4

The Association of Southeast Asian Nations (ASEAN)was created as a treaty among the oil-producing countries of Asia.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following is codified in the Foreign Sovereign Immunities Act?

Accepted Answer

A) the act of state doctrine 
B) the principle of restricted immunity 
C) the Supremacy Clause 
D) the choice of forum clause 
A) the act of state doctrine 
B) the principle of restricted immunity 
C) the Supremacy Clause 
D) the choice of forum clause

Question 6

Which of the following is true of the International Monetary Fund (IMF)?

Accepted Answer

A) The IMF is a federal body that consists of representatives of all the states and federal experts of 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 of the United Nations 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 of 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 of the United Nations 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 7

The act of state doctrine allows the citizen of one country to bring a lawsuit in that country against a law prevalent in another.

Accepted Answer

A) True 
 B)False

Question 8

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 9

Which of the following is a provision under the Foreign Sovereign Immunities Act?

Accepted Answer

A) It stipulates the rules for conflict resolution between the Dominican Republic-Central America Free Trade Agreement (DR-CAFT
A) members. 
B) It endows the president with powers to enter into treaties with foreign nations. 
C) It exclusively governs suits against foreign nations in the United States. 
D) It regulates commerce between the United States and foreign nations. 
A) It stipulates the rules for conflict resolution between the Dominican Republic-Central America Free Trade Agreement (DR-CAFT
A) members. 
B) It endows the president with powers to enter into treaties with foreign nations. 
C) It exclusively governs suits against foreign nations in the United States. 
D) It regulates commerce between the United States and foreign nations.

Question 10

Which of the following is an example of an autonomous agency of the United Nations?

Accepted Answer

A) the North Atlantic Treaty Organization 
B) the Security Council 
C) the World Trade Organization 
D) the International Monetary Fund 
A) the North Atlantic Treaty Organization 
B) the Security Council 
C) the World Trade Organization 
D) the International Monetary Fund

Question 11

The North American Free Trade Agreement (NAFTA)includes special protection for favored industries that have a lot of lobby muscle.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following replaced the General Agreement on Tariffs and Trade (GATT)?

Accepted Answer

A) the World Bank 
B) the World Trade Organization 
C) the International Monetary Fund 
D) the North American Free Trade Agreement 
A) the World Bank 
B) the World Trade Organization 
C) the International Monetary Fund 
D) the North American Free Trade Agreement

Question 13

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

Accepted Answer

A) Shari'a 
B) Torah 
C) dharmasastra 
D) riba 
A) Shari'a 
B) Torah 
C) dharmasastra 
D) riba

Question 14

The Foreign Sovereign Immunities Act (FSIA)strictly states that a foreign country is not immune to lawsuits in U.S.courts under any circumstances.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following is headed by the secretary-general of the United Nations (UN)?

Accepted Answer

A) the International Court of Justice 
B) the Secretariat 
C) the Security Council 
D) the General Assembly 
A) the International Court of Justice 
B) the Secretariat 
C) the Security Council 
D) the General Assembly

Question 16

How are disputes settled in the World Trade Organization (WT
O)? What are the different WTO bodies that handle disputes?

Accepted Answer

A member nation that believes that anoth

Question 17

The World Trade Organization (WT
O)appellate body hears appeals that are limited to issues of law, not fact.

Accepted Answer

A) True 
 B)False

Question 18

The canons of Christian faiths provide rules for believers to follow in living their lives and professing their faith.

Accepted Answer

A) True 
 B)False

Question 19

The European Union was created by a multilateral treaty.

Accepted Answer

A) True 
 B)False

Question 20

Rabbinic jurisprudence is administered by rabbi-judges sitting as the Beis Din.

Accepted Answer

A) True 
 B)False

Exam 54: International and World Trade Law

The euro can only be used in countries that are part of the eurozone.

A nation can seek redress on behalf of an individual or a business that has a claim against another country in the International Court of Justice.

The United States follows the principle of restricted immunity for suits against foreign nations.

The Association of Southeast Asian Nations (ASEAN)was created as a treaty among the oil-producing countries of Asia.

Which of the following is codified in the Foreign Sovereign Immunities Act?

Which of the following is true of the International Monetary Fund (IMF)?

The act of state doctrine allows the citizen of one country to bring a lawsuit in that country against a law prevalent in another.

The World Bank is ________.

Which of the following is a provision under the Foreign Sovereign Immunities Act?

Which of the following is an example of an autonomous agency of the United Nations?

The North American Free Trade Agreement (NAFTA)includes special protection for favored industries that have a lot of lobby muscle.

Which of the following replaced the General Agreement on Tariffs and Trade (GATT)?

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

The Foreign Sovereign Immunities Act (FSIA)strictly states that a foreign country is not immune to lawsuits in U.S.courts under any circumstances.

Which of the following is headed by the secretary-general of the United Nations (UN)?

How are disputes settled in the World Trade Organization (WT O)? What are the different WTO bodies that handle disputes?

The World Trade Organization (WT O)appellate body hears appeals that are limited to issues of law, not fact.

The canons of Christian faiths provide rules for believers to follow in living their lives and professing their faith.

The European Union was created by a multilateral treaty.

Rabbinic jurisprudence is administered by rabbi-judges sitting as the Beis Din.

Legal Environment of Business and Online Commerce

Courts and Jurisdiction

Judicial, alternative, and Online Dispute Resolution

Constitutional Law for Business and E-Commerce

Intentional Torts and Negligence

Product and Strict Liability

Intellectual Property and Cyber Piracy

Criminal Law and Cyber Crime

Nature of Traditional and E-Contracts

Agreement

Consideration and Promissory Estoppel

Capacity and Legality

Genuineness of Assent and Undue Influence

Statute of Frauds and Equitable Exceptions

Third-Party Rights and Discharge

Remedies for Breach of Traditional and E-Contracts

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

Creation of Negotiable Instruments

Holder in Due Course and Transferability

Liability, defenses, and Discharge

Banking System and Electronic Financial Transactions

Credit, mortgages, and Debtors Rights

Secured Transactions

Bankruptcy and Reorganization

Agency Formation and Termination

Liability of Principals, agents, and Independent Contractors

Employment, worker Protection, and Immigration Law

Labor Law

Equal Opportunity in Employment

Small Business, entrepreneurship, and General Partnerships

Limited Partnerships and Special Partnerships

Corporate Formation and Financing

Corporate Governance and the Sarbanes-Oxley Act

Corporate Acquisitions and Multinational Corporations

Limited Liability Companies and Limited Liability Partnerships

Franchises and Special Forms of Businesses

Investor Protection, e-Securities, and Wall Street Reform

Ethics and Social Responsibility of Business

Administrative Law and Regulatory Agencies

Consumer Protection and Product Safety

Environmental Protection

Antitrust Law and Unfair Trade Practices

Personal Property, real Property, and Insurance

Real Property

Landlord-Tenant Law and Land Use Regulation

Insurance

Accountants Duties and Liability

Wills, trusts, and Estates

Family Law

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