Global Business Environment
Exam Materials
Course Introduction
The Global Business Environment course provides students with an in-depth understanding of the dynamic and interconnected nature of international business. The course explores how global economic, political, social, and cultural factors influence business operations and strategies across borders. Key topics include international trade theories, global markets and institutions, foreign direct investment, exchange rates, and the challenges and opportunities of operating in diverse regulatory and cultural contexts. Through case studies and real-world examples, students learn to analyze and respond to the complexities of doing business in a globalized world, equipping them with the knowledge to make strategic decisions in an international context.
Recommended Textbook
Business Its Legal Ethical and Global Environment 10th Edition by Marianne M. Jennings
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Chapter 1: Introduction to Law
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Sample Questions
Q1) Zoning laws are substantive only.
A)True
B)False
Answer: False
Q2) Give a sample citation for each of the following statutes/regulations:
a. United States Code
b. Code of Federal Regulations
Answer: 15 U.S.C. sec.77
12 C.F.R. sec.226
Q3) Statutory law exists at all levels of government.
A)True
B)False
Answer: True
Q4) Which of the following is an example of a law that provides compromises?
A) curfews
B) antitrust laws
C) traffic laws
D) union/management laws
Answer: D
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Chapter 2: Business Ethics and Social Responsibility
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Sample Questions
Q1) "If you think what we're doing now is bad, you should have seen 10 years ago at this company..." is an example of:
A) ethical analysis.
B) rationalization.
C) comparative or relative ethics.
D) both a and c
Answer: B
Q2) Milton Friedman's view of the social responsibility of business is best described as:
A) the social responsibility of a business is to make money within the rules of the game.
B) the social responsibility of a business should be dictated by its managers.
C) the social responsibility of a business requires it to be environmentally clean.
D) businesses have no social responsibility.
E) none of the above
Answer: A
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Chapter 3: The Judicial System
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Sample Questions
Q1) Which of the following is NOT true of long-arm statutes?
A) they are state jurisdiction statutes
B) they are not subject to federal review
C) they vary from state-to-state
D) all of the above are not true
Answer: B
Q2) A small claims court:
A) is a court where diversity cases are heard.
B) is a court where no attorneys are used.
C) is a general jurisdiction court.
D) is part of the federal system.
Answer: B
Q3) The trial transcript, trial evidence, and appellate briefs are generally not available to the appellate court.
A)True
B)False
Answer: False
Q4) Name three courts in the federal system that are not courts of general jurisdiction.
Answer: Bankruptcy court Court of claims Indian Tribal Court
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Chapter 4: Managing Disputes: Alternative Dispute
Resolution and Litigation Strategies
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Sample Questions
Q1) A hung jury requires a retrial of the case.
A)True
B)False
Q2) To be valid, a complaint must have every fact listed in it.
A)True
B)False
Q3) Amanda Reiss was injured at a wedding reception at a private home. Amanda tripped over a piece of rebar that was sticking from the end of one portion of a sidewalk leading to the front door. Amanda's lawyer believes that the homeowners were aware of the rebar problem and that other guests to the home had tripped over it but not been injured. How can Amanda's lawyer get the information about the homeowner's knowledge?
A) he cannot because they are not required to talk with Amanda's lawyers
B) he can depose the homeowners
C) he can depose others who have been guests
D) both b and c
Q4) A directed verdict can occur immediately after the pleadings are filed.
A)True
B)False
Page 6
Q5) Name and describe three types of motions that can be made prior to trial.
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Chapter 5: Business and the Constitution
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Sample Questions
Q1) The Supreme Court uses the direct and immediate effect test in reviewing congressional regulation of interstate commerce.
A)True
B)False
Q2) Which of the following enjoy full First Amendment protections?
A) Video games
B) Yelling "Fire!" in a crowded theater when there is no fire
C) Commercial advertisement
D) all of the above
Q3) The state of Arizona has just passed a mandatory seat belt law that will require anyone traveling in Arizona to put on his/her seat belt. Several travelers from other states that do not have such seat belt laws have brought suit challenging the constitutionality of the Arizona law as an undue burden on interstate commerce. What test will the court apply in reviewing the statute?
A) the apportionment test
B) the impairment test
C) the balancing test
D) none of the above
Q4) Discuss the ruling and the importance of Citizen's United.
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Chapter 6: Administrative Law
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Sample Questions
Q1) Sanctions that can be imposed by agencies include:
A) injunctions.
B) fines.
C) loss of license.
D) all of the above
Q2) If the Department of Labor decides to change the content and approach of the proposed rules based on feedback, which of the following is correct?
A) The Department must return to Congress to get approval for the proposed changes to the original rules.
B) The Department must allow 90 days for comments on the proposed changes to the original rules.
C) The Department must publicize the proposed changes in the original rules and allow a comment period.
D) Because the rules could not be promulgated, Congress can revoke the Nursing Mothers Law.
Q3) Under the federal sunshine laws, agency staff members may hold meetings without notice.
A)True
B)False
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Chapter 7: International Law
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Sample Questions
Q1) The OECD is resistant to the U.S. position against bribery.
A)True
B)False
Q2) What is the effect of trade sanctions?
A) businesses are prohibited from dealing with certain countries
B) businesses are prohibited from selling certain items in countries subject to the sanctions
C) there is no effect; they are strictly voluntary
D) either a or b
E) none of the above
Q3) The Doctrine confirms the independence of sovereign nations anf their courts.
A) International Sovereignty
B) Act-of-Sovereign
C) Act-of-State
D) Act-of-Solidarity
Q4) An NGO:
A) is not subject to the controls of the FCPA.
B) is not subject to any nation's laws.
C) is an oil cartel.
D) none of the above
Page 9
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Chapter 8: Business Crime
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Sample Questions
Q1) McGuire was an employee of First National Bank of Grayson (FNBG). FNBG participated in a Kentucky Housing Corporation (KHC) program in which KHC loaned money to financial institutions. The institutions would then make low-interest loans to low-income individuals who qualified for purchase of a home. FNBG received the funds and produced bogus paperwork for 80 loans but never loaned the money. Instead, they invested the money at a high rate of interest. Eventually the money was returned to KHC, but McGuire was charged with making false records and fraud. Can McGuire, as an employee, be held liable?
Q2) Bond or bail is established at the initial appearance.
A)True
B)False
Q3) "Taking the Fifth" means:
A) refusing to allow a search of your office.
B) refusing to turn over corporate documents.
C) refusing to testify to prevent self-incrimination.
D) demanding a search warrant.
Q4) The exceptions for obtaining warrants include evidence in "plain view."
A)True
B)False
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Chapter 9: Business Torts
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Sample Questions
Q1) A tort is a private wrong carrying criminal penalties.
A)True
B)False
Q2) Proximate cause:
A) is the same as causation.
B) need not be proved in every negligence case.
C) was established in the Palsgraf case.
D) is no longer an element of negligence.
Q3) Three boys were leaving Wal-Mart when they were stopped by plain clothes security officers. One officer said, "Those shirts that you have on were stolen." One boy said, "You can't be serious." The officer responded, "Yes, I am. Come with me." The boys then went with the officers to a side door and into an office. The boys' parents have filed suit against Wal-Mart. Discuss what their suit might be for and what defenses Wal-Mart has.
Q4) Posting false information in a chat room is not sufficient to establish defamation.
A)True
B)False
Q5) Discuss why whistle-blowers should receive some kind of protection from defamation claims.
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Chapter 10: Cyberlaw, Social Media, and Privacy
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Sample Questions
Q1) Employee e-mails cannot be obtained through discovery processes in litigation against the company because of Fifth Amendment protections.
A)True
B)False
Q2) The Economic Espionage Act makes it a crime to take trade secrets by computer.
A)True
B)False
Q3) The transfer of copyrighted material worth over $1000 over the Internet is a crime.
A)True
B)False
Q4) Which of the following is a violation of the Economic Espionage Act?
A) Downloading your employer's website program to take to your new job.
B) Sketching your employer's new trademark to register first.
C) Photographing customer lists of a competitor.
D) All of the above are EEA violations.
Q5) Employer monitoring of employee e-mail is illegal. A)True
B)False
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Chapter 11: Environmental Regulation and Sustainability
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Sample Questions
Q1) If the EPA cleans up a toxic waste site, the cost of a cleanup can be recovered from the:
A) owner.
B) party who dumped the waste.
C) Superfund.
D) all of the above
Q2) Discuss the scope of the Endangered Species Act.
Q3) An EIS must be filed for both private and governmental projects.
A)True
B)False
Q4) Acid rain is:
A) sulfur dioxide pollution from factories.
B) not now regulated by the federal government.
C) not part of EPA enforcement plan.
D) only a problem outside the United States.
Q5) Brownfields:
A) are former Superfund sites that have been cleaned up.
B) are Superfund sites that are lying fallow.
C) cannot be sold or transferred.
D) both b and c
13
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Chapter 12: Contracts and Sales: Introduction and Formation
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Sample Questions
Q1) Options require consideration to be valid.
A)True
B)False
Q2) Point-and-click is a valid means of forming a contract if the parties had adequate knowledge of the terms and conditions of the agreement in advance.
A)True
B)False
Q3) Discuss what colleges and universities must do under CARD for their students.
Q4) Under the UCC, offers need price, subject matter, and quantity to be definite enough.
A)True
B)False
Q5) S has made a valid revocation to B.
A)True
B)False
Q6) Predatory lending involves high interest rates and title loans.
A)True
B)False
Q7) List the types of contracts required to be in writing.
Q8) Name the statutes that affect contract formation in cyberspace. Page 14
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Chapter 13: Contracts: Performance, Remedies, and Rights
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Sample Questions
Q1) "Only those on the cutting edge of technology have this product," is an example of puffing.
A)True
B)False
Q2) Covenants not to compete are generally considered void as against public policy.
A)True
B)False
Q3) Fraud is misrepresentation with intent to mislead or deceive.
A)True
B)False
Q4) The FDCPA is not applicable to the collection of judgments.
A)True
B)False
Q5) Suppose, with reference to #81 above, that Angela turned 18 between the time of the accident and when she received the bill. Angela:
A) is a minor and need not pay the bills.
B) is liable for the bill as a necessity.
C) can rescind the agreement.
D) none of the above
Q6) Explain the purpose of a force majeure clause.
Page 16
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Chapter 14: Sales: Product Advertising and Liability
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Sample Questions
Q1) James Kaufman purchased 11 heifers from Peter Van Santen. Van Santen provided in their agreement that the cows had "no mastitis." Mastitis is an inflammation of the milk-producing tissue in the udder that can result in infection and reduction of milk production. Shortly after taking delivery, Kaufman discovered mastitis in the cows. One had to be killed and the remainder of Kaufman's herd became infected. He lost $30,000 because of decreased milk production and spent nearly $600 in vet bills. Can Kaufman recover from Van Santen? If so, on what theories?
Q2) Which of the following is not required of a celebrity who will be endorsing a product?
A) verification of the claims to be presented
B) actual use of the product
C) disclosure of source of claims not known personally by the celebrity
D) All of the above are required.
Q3) Which of the following is not an example of an express warranty?
A) "This jacket is lined."
B) "This water heater holds 50 gallons."
C) "This toothpaste makes teeth the whitest around."
D) "Preshrunk jeans."
Q4) Describe three defenses to product liability.
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Chapter 15: Products: Business Intellectual Property
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Sample Questions
Q1) Trademark registration in the United States is good only in the United States.
A)True
B)False
Q2) To receive a permanent injunction a patent plaintiff must satisfy an established three-prong test.
A)True
B)False
Q3) John W. Carson, better known as Johnny Carson, was the host and star of "The Tonight Show." His announcer used the phrase "Here's Johnny" to introduce Mr. Carson from the time the first show appeared in 1957. Carson licensed the phrase for use with a clothing line he endorsed as well as a line of men's toiletries. In 1976, a Michigan corporation began manufacturing and selling portable toilets for use at construction sites and at large outdoor events. The toilets were called, "Here's Johnny! portable toilets!" The company also used the phrase, "the world's foremost commodian" in describing its product. Mr. Carson filed suit. What would be the basis of his lawsuit?
Q4) Design patents extend for a 14-year period.
A)True
B)False
Q5) Discuss the potential penalties under the Industrial Espionage Act.
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Chapter 16: Business Competition: Antitrust
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Sample Questions
Q1) The failing company doctrine is an exception to horizontal merger restrictions.
A)True
B)False
Q2) Meeting the competition is a defense to price discrimination.
A)True
B)False
Q3) The Joint Venture Trading Act of 1983:
A) allows Justice Department approval for joint ventures of competitors in the international markets.
B) prohibits joint ventures among competitors unless in the international market.
C) prohibits joint ventures among competitors.
D) none of the above
Q4) Guernzey Milk produces canned milk under its label and several grocery-store labels. The content is the same but the grocery-store labels are sold for less. Guernzey says the packaging for the grocery store brands is cheaper. Any antitrust problems?
Q5) A vertical merger that prevents market entry is illegal.
A)True
B)False
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Chapter 17: Management of Employee Conduct: Agency
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Sample Questions
Q1) Agents are liable to principals for negligence in performing their duties.
A)True
B)False
Q2) Ellen Fishman was hired by Attics, Inc., a company that does attic refurbishments and redesigns, to evaluate attics, provide homeowners with estimates, and, hopefully, sign them up with contracts for their attics. Ellen provided an estimate of $11,000 to the Kornbluths for a redesign of their attic. Because she was new at the job, Ellen forgot the demolition costs in the estimate. However, the Kornbluths signed a contract Ellen presented and put down a 10% deposit of $1,100. Attics, Inc.'s president has refused to do the attic for anything less than $15,000, what the estimate should have been. The Kornbluths have no experience with remodeling and had only one other estimate for the refurbishment, which was $12,500.
A) Attics, Inc. need not perform the refurbishment because Ellen did not have authority for the bid or contract.
B) Attics, Inc. must perform the refurbishment for $11,000 because Ellen had authority to enter into the contract.
C) Attics, Inc. need not perform the contract for $11,000 because Ellen made a mistake. D) none of the above
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Page 20
Chapter 18: Governance and Structure: Forms of Doing Business
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Sample Questions
Q1) Which of the following is not required for the certificate of limited partnership (under RULPA)?
A) names of the limited partners
B) capital contributions of the partners
C) the profit-sharing arrangement
D) None of the above are required.
Q2) Limited partners have liability limited to the amount of their contribution to the partnership.
A)True
B)False
Q3) Lawyers for corporations are not required to reveal investigations of misconduct in the corporation to the CEO.
A)True
B)False
Q4) Limited liability companies are peculiar to the United States.
A)True
B)False
Q5) Discuss CEO concerns regarding CEO compensation.
Q6) Discuss investors' concerns regarding CEO compensation.
Q7) List the provisions of Sarbanes-Oxley that affect corporation governance. Page 21
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Chapter 19: Governance and Regulation: Securities Law
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Q1) Under SarbanesÂOxley, audit committees of publicly held companies' boards need not be made up of independent members so long as the majority of the board is independent.
A)True
B)False
Q2) How long does an officer of a publicly traded company have to file a disclosure of transactions in the company's stock?
A) until the end of the month
B) two days
C) three days
D) until the end of the quarter
Q3) A comment or deficiency letter:
A) is a denial of registration.
B) must be issued within 20 days of the filing of the registration statement.
C) can only be issued once.
D) all of the above
Q4) Rule 504 has no limitations on number of offerees.
A)True
B)False
Q5) Discuss why Bernie Madoff received the sentence he did for his crimes.
Page 23
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Chapter 20: Management: Employee Welfare
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Sample Questions
Q1) Which of the following is not a function of OSHA?
A) promulgating safety standards for the workplace
B) conducting random inspections of workplaces
C) responding to employee complaints
D) All of the above are functions of OSHA.
Q2) Employee evaluation systems that rank employees in tiers for purposes of raises and termination violate the Fair Labor Standards Act.
A)True
B)False
Q3) Discuss when OSHA will find willful violations.
Q4) Workers' compensation systems cover independent contractors.
A)True
B)False
Q5) Which firms are covered under FLSA?
A) hotels
B) retail businesses
C) restaurants
D) All of the above are covered.
Q6) What protections does the Equal Pay Act provide?
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Chapter 21: Management: Employment Discrimination
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Sample Questions
Q1) Which statute is not an amendment to Title VII?
A) Equal Pay Act
B) Equal Employment Opportunity Act
C) Pregnancy Discrimination Act
D) All of the above are amendments to Title VII.
Q2) A suit against Wal-Mart alleges that only 14% of its store managers are women, but 70% of its hourly workers are women and 85-90% of its customer service managers are women. What will the plaintiffs need to establish that Wal-Mart has violated Title VII?
A) That Wal-Mart has an adequate pool from which to draw female store managers.
B) That Wal-Mart has engaged in disparate treatment.
C) That the labor market is one-half female.
D) all of the above
Q3) List all the possible defenses to charges of discrimination.
Q4) The Equal Pay Act addressed only the issue of wage discrimination.
A)True
B)False
Q5) The Age Discrimination Act protects those who are 40 to 75 years old.
A)True
B)False
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