Legal Environment of Business Review Questions
Course Introduction
Legal Environment of Business explores the key legal principles and regulations that shape business operations in the United States and globally. The course examines the structure and role of the legal system, contract law, torts, agency, business organizational structures, employment law, intellectual property, and government regulation. Students will gain insights into how statutory, administrative, and case law influence managerial decisions, risk management, and ethical business conduct. Emphasis is placed on real-world application and understanding the legal responsibilities and protections for businesses, employees, and consumers.
Recommended Textbook Essentials of the Legal Environment 4th Edition by Roger LeRoy Miller
Available Study Resources on Quizplus
25 Chapters
1489 Verified Questions
1489 Flashcards
Source URL: https://quizplus.com/study-set/3655
Page 2
Chapter 1: Business and Its Legal Environment3
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72723
Sample Questions
Q1) In a suit against Owen, Phil obtains specific performance.This is
A)an order to do or to refrain from doing a particular act.
B)an order to perform what was promised.
C)a payment of money or property as compensation.
D)the cancellation of a contract.
Answer: B
Q2) Under Ohio's state constitution, the Ohio Environmental Protection Agency issues a new rule, the Polk County Commission approves a new property tax measure, and the professors and students at Ohio Law School publish the results of their most recent legal research.Sources of law do not include
A)the measures approved by local governing bodies.
B)the results of legal scholars' research.
C)the rules issued by state administrative agencies.
D)the states' constitutions.
Answer: B
Q3) Judges use precedent when deciding a case in a common law legal system.
A)True
B)False
Answer: True
To view all questions and flashcards with answers, click on the resource link above. Page 3
Chapter 2: Shifting Legal Priorites for Business:
Available Study Resources on Quizplus for this Chatper
12 Verified Questions
12 Flashcards
Source URL: https://quizplus.com/quiz/72722
Sample Questions
Q1) Clark appeals a decision in his suit against Dona, grounded on rights provided in the U.S.Constitution, to the United States Supreme Court.The task of the Court to interpret and give meaning to those rights is made more difficult because A)foreign laws affect the legal environment unpredictably.
B)government's role alters with each new election.
C)parties' expectations vary with each step in the judicial process.
D)society's perceptions and needs change over time.
Answer: D
Q2) Khalil and Jasmin sign a prenuptial agreement that provides for any dispute to be arbitrated according to Islamic law.When a dispute arises over the parties' marital property in Iowa, Jasmin files a suit in an Iowa state court to contest the arbitration provision.According to rulings in other states' courts in similar cases, the provision will most likely be
A)enforced.
B)rewritten to remove the Islamic law clause.
C)struck down as outside the common legal framework of our society.
D)suspended while the court considers an equitable result.
Answer: A
To view all questions and flashcards with answers, click on the resource link above.
Page 4
Chapter 3: Courts and Alternative Dispute Resolution
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72725
Sample Questions
Q1) A state court can exercise jurisdiction over any person within the boundaries of the state.
A)True
B)False
Answer: True
Q2) The courts can decide whether the other branches of government have acted within the scope of their constitutional authority.
A)True
B)False Answer: True
Q3) An answer can deny the allegations made in a complaint.
A)True
B)False Answer: True
Q4) For purposes of diversity of citizenship, a corporation is a citizen only of the state in which it is incorporated.
A)True
B)False Answer: False
To view all questions and flashcards with answers, click on the resource link above. Page 5
Chapter 4: Ethics and Business Decision Making
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72727
Sample Questions
Q1) If the interests of different stakeholders conflict, it can be difficult to determine which group's interest should receive greater weight.
A)True
B)False
Q2) John is sales manager for Kleen 'N Brite Products, Inc.Compared to John's personal activities, his business activities most likely involve
A)more complex ethical issues.
B)no ethical issues.
C)simpler ethical issues.
D)the same ethical issues.
Q3) Corporations can be good citizens by promoting goals that society deems worthwhile.
A)True
B)False
Q4) Duty-based ethical standards often come from religious precepts or through philosophical reasoning.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 6
Chapter 5: Constitutional Authority to Regulate Business
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72729
Sample Questions
Q1) The judicial branch has the power to hold actions of the other branches of government unconstitutional.
A)True
B)False
Q2) The checks and balances in the U.S.Constitution prevent any one branch of government from exercising too much power.
A)True
B)False
Q3) Under the Constitution, the judicial branch interprets the laws.
A)True
B)False
Q4) Adult Shoppe in Bay City sells a variety of publications, including child pornography.Bay City enacts an ordinance prohibiting the sale of such materials.This ordinance is most likely
A)an invalid restriction of individuals' privacy.
B)an unconstitutional restriction of speech.
C)a violation of adults' rights to enjoy certain privileges.
D)constitutional under the First Amendment.
To view all questions and flashcards with answers, click on the resource link above. Page 7
Chapter 6: Administrative Law
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72731
Sample Questions
Q1) Often, an administrative agency itself enforces its rules.
A)True
B)False
Q2) With some exceptions, every portion of every meeting of the Federal Reserve System Board of Governors and other federal administrative agencies must be open to public observation under
A)no federal or state law.
B)the Freedom of Information Act.
C)the Government in the Sunshine Act.
D)the Public Accountability Act.
Q3) Freight Transport Company is subject to a decision by the National Labor Relations Board.Freight Transport appeals the decision, arguing that it is arbitrary and capricious.This could mean that the decision
A)followed a consideration of legally appropriate factors.
B)justifiably changed the agency's prior policy.
C)was accompanied by a rational explanation.
D)was plainly contrary to the evidence.
Q4) Federal executive agencies are outside the federal executive departments.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 8
Chapter 7: Torts and Product Liability
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72732
Sample Questions
Q1) Dru is an Excel Company employee.He falsely accuses Fiona, Excel's office manager, of stealing from their employer.The statement is defamatory
A)if a coworker overhears it.
B)only if Fiona hears it.
C)whether or not anyone hears it.
D)under no circumstances.
Q2) Furious Toyz Corporation makes skateboards, which it sells to consumers, including Gitana.Gitana is injured due to a defect in the board that causes an accident in which Haley, a bystander, is also injured.In a product liability suit based on strict product liability, Furious Toyz may be liable to
A)Gitana and Haley.
B)Gitana only.
C)Haley only.
D)no one.
Q3) The public disclosure of private facts about a person is not an invasion of privacy if it is done without the person's knowledge or consent.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 9
Chapter 8: Online Developments:
Available Study Resources on Quizplus for this Chatper
12 Verified Questions
12 Flashcards
Source URL: https://quizplus.com/quiz/72724
Sample Questions
Q1) A Little Bit of Lipstick, Inc., is a small, U.S.-based business that sells nanotechnology-based cosmetics for export.Under the National Export Initiative, the federal government is
A)pursuing trade agreements to improve market access for U.S.firms.
B)banning lending to small businesses, especially for export purposes.
C)placing less emphasis on exports than other governments.
D)playing a less active role in promoting exports in emerging markets.
Q2) Grace hosts Harvest, a social networking site.Idle Fields, a competitive site, hires Jeb to anonymously post on Harvest stories that question its privacy practices.Harvest might most successfully sue Idle Fields for A)slander of quality.
B)intentional infliction of emotional distress.
C)false imprisonment.
D)none of the choices.
To view all questions and flashcards with answers, click on the resource link above.
Chapter 9: Criminal Law and Cyber Crime
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72733
Sample Questions
Q1) Leah gains access to government records and alters certain dates and amounts in her favor.This is
A)embezzlement.
B)forgery.
C)larceny.
D)no crime.
Q2) Alan, the president of Bayside Investments, Inc., and Colin, Bayside's accountant, are charged with a crime, after the police search Bayside's offices.Under the exclusionary rule
A)certain Bayside records are excluded from subpoena.
B)certain parties to a criminal action may be excluded from a trial.
C)illegally obtained evidence must be excluded from a trial.
D)persons who have biases that would prevent them from fairly decid?ing the case may be excluded from the jury.
Q3) Corporations, unlike persons, cannot be liable for crimes.
A)True
B)False
Q4) Phishing occurs when a criminal poses as a member of the rock group Phish.
A)True
B)False
Page 11
To view all questions and flashcards with answers, click on the resource link above.
Chapter 10: Intellectual Property and Internet Law
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72734
Sample Questions
Q1) The process behind the production of "Fast Pace," a racecar video game, is protected by
A)copyright law.
B)patent law.
C)trademark law.
D)trade secrets law.
Q2) A list of customers cannot be a trade secret.
A)True
B)False
Q3) A patent applicant must demonstrate that the invention, discovery, or design is commercially practicable to receive a patent.
A)True
B)False
Q4) Copy Products, Inc., uses, in its ads, the trademark of Imitated Goods, Inc.Of course, Copy does not own the mark.Copy's unauthorized use constitutes trademark infringement if
A)consumers are likely to be confused.
B)Copy and Imitated are competitors.
C)Copy's use is intentional.
D)Imitated's mark is registered.
Page 12
To view all questions and flashcards with answers, click on the resource link above.
Chapter 11: International Law in a Global Economy
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72735
Sample Questions
Q1) WiFi Corporation, a U.S.firm, signs a contract with Bueno Computadores, Ltd., an Argentinean firm, for a shipment and payment for WiFi's goods.This is
A)a distribution agreement.
B)a joint venture.
C)direct exporting.
D)licensing.
Q2) Restrictions on imports may include quotas.
A)True
B)False
Q3) Fabiola, or any foreign citizen, can bring a civil suit in a U.S.court for
A)a violation of a treaty of the United States only.
B)a violation of a treaty of the United States or of the law of nations.
C)a violation of the law of nations only.
D)no purpose.
Q4) Tariffs are imposed only on exports.
A)True
B)False
Q5) Tariffs are taxes on imports.
A)True
B)False
13
To view all questions and flashcards with answers, click on the resource link above.
Chapter 12: Business Organizations
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72736
Sample Questions
Q1) Paradise Footwear buys a franchise from Resilient Athletic Shoes Inc.This relationship, like all other franchise relationships, is governed by
A)contract law.
B)no law.
C)the Franchise Disclosure Document, or FDD.
D)the rules of the National Collegiate Athletic Shoe Association.
Q2) In a sole proprietorship, the proprietor shares the burden of any losses or liabilities incurred by the business enterprise with the government.
A)True
B)False
Q3) Robert owns Textbooks Plus, a sole proprietorship that sells textbooks.When Robert dies, Textbooks Plus will
A)automatically dissolve.
B)pass directly to his oldest child.
C)pass directly to the state.
D)be evenly divided among all Robert's heirs.
Q4) A director is a fiduciary of a corporation.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 14
Chapter 13: Beyond Our Borders:
Available Study Resources on Quizplus for this Chatper
12 Verified Questions
12 Flashcards
Source URL: https://quizplus.com/quiz/72726
Sample
Questions
Q1) Wei Wei, Ltd., a Chinese firm, delivers the first commercial unit of a two-unit shipment of headphones to Sonic Boom, a U.S.firm.Sonic accepts the goods, but later discovers that they are nonconforming.To revoke acceptance of the unit under the Convention on Contracts for the International Sale of Goods, Sonic A)can sue immediately, claiming that Wei Wei fundamentally breached the contract. B)must notify Wei Wei and return the goods before Sonic can sue.
C)must prove that the nonconformity of the first unit impaired the value of the whole lot. D)must prove that Sonic assumed the nonconformity would be cured and it has not been cured.
Q2) University of St.Bart (USB)offers classes online.Enrollment is carried out online.USB asks each enrolling student to agree that any dispute will be resolved by arbitration and to indicate assent by clicking a box to make "Signed by E-Signature" appear on a signature line.Most likely, this agreement is A)misleading.
B)valid.
C)invalid without further proof that the student assented to it.
D)invalid without a facsimile of an actual signature on the signature line.
To view all questions and flashcards with answers, click on the resource link above. Page 15
Chapter 14: Formation of Traditional and E-Contracts
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72737
Sample Questions
Q1) Wanda tells Vito that she plans to buy his Chocolate Goodies store some day.Vito says, "I won't sell," but later changes his mind and sends to Wanda a letter of "acceptance." Wanda and Vito have
A)a contract.
B)no contract, because Wanda merely expressed her intention to enter a future contract.
C)no contract, because Vito simply expressed his opinion that "I won't sell."
D)no contract, because Vito's letter was only an invitation to negotiate.
Q2) A partnering agreement reduces the likelihood that a dispute will arise under a contract.
A)True
B)False
Q3) Lou claims that he and Myra entered into an implied contract.To establish this contract, it is not necessary to show that
A)a court imposed a promise in the interest of fairness.
B)Lou expected to be paid for providing services or prop?erty.
C)Lou provided Myra with services or property.
D)Myra failed to reject services or property provided by Lou.
To view all questions and flashcards with answers, click on the resource link above.
Page 16
Chapter 15: Contract Performance, Breach, and Remedies
Available Study Resources on Quizplus for this Chatper
71 Verified Questions
71 Flashcards
Source URL: https://quizplus.com/quiz/72738
Sample Questions
Q1) Voluntary consent can be used as a defense to the enforceability of a contract if the consent is lacking because of a mistake.
A)True
B)False
Q2) Lyra induces Moe to enter into a contract for the sale of an apartment about which Lyra fraudulently misrepresents a number of material facts.Lyra tells Moe that her commission is 6 percent, but their signed, written contract states "12 percent." The Statute of Frauds governs
A)contracts that are induced by fraud.
B)contracts that must be in writing to be enforceable.
C)the admissibility in court of oral evidence.
D)the reformation of oral and written statements into one contract.
Q3) Tristan hires Stefani to perform at Tristan's Club, but she breaches the agreement to accept a higher-paying job at Rock Star Arena.Tristan files a suit against Stefani.The court will most likely
A)award damages to Tristan.
B)cancel Stefani and Rock Star's contract.
C)order Stefani to perform the contract.
D)reform Tristan and Stefani's contract.
To view all questions and flashcards with answers, click on the resource link above.
Page 17
Chapter 16: Sales and Leases
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72739
Sample Questions
Q1) On January 10, Winchester Pet Supplies orders fifty small dog collars from Quality Collars, Inc.to be delivered by January 15.On January 13, Quality Collars tenders fifty large dog collars.Winchester Pet Supplies rejects the shipment.Quality Collars has
A)no right to cure.
B)until January 15 to cure.
C)until the end of the business day on January 13 to cure.
D)unlimited time to cure.
Q2) Under the UCC, a sales or lease contract will fail for indefiniteness if one or more terms are left open.
A)True
B)False
Q3) Rikki and Sid enter into a sales contract for tennis equipment.With respect to the specific contractual provisions set out in the UCC, Rikki and Sid may
A)agree to different terms only to a reasonable extent.
B)agree to different terms unless they "get caught."
C)agree to whatever terms they wish.
D)not agree to different terms.
To view all questions and flashcards with answers, click on the resource link above.
Page 18
Chapter 17: Creditors Rights and Bankruptcy
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72740
Sample Questions
Q1) Roland files for Chapter 7 bankruptcy.After all his assets have been sold and the proceeds distributed among his creditors, Roland's remaining debts
A)are discharged.
B)paid by the court.
C)must be paid by Roland.
D)are put on hold until Roland has sufficient means to pay them.
Q2) A mechanic's lien can be enforced to obtain payment for work that adds value to real property.
A)True
B)False
Q3) Some student loans are dischargeable in a Chapter 7 bankruptcy.
A)True
B)False
Q4) A writ of execution is a writ that puts in force a court decree or judgment.
A)True
B)False
Q5) Liens usually do not take priority over other claims against the same property. A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 19
Chapter 18: Mortgages Foreclosures After the Recession
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72741
Sample Questions
Q1) A subprime mortgage is a loan made to a borrower who does not qualify for a standard mortgage.
A)True
B)False
Q2) Refer to Fact Pattern 15-1.Under federal law, disclosures with respect to one of Northeast's loans must be provided
A)a certain number of days after the loan is finalized.
B)a certain number of days before the loan is finalized.
C)at the same time at which the loan is finalized.
D)at whatever time is most rational and appropriate.
Q3) Federal law encourages private lenders to modify mortgages so as to lower the monthly payments of borrowers who are in default.
A)True
B)False
Q4) A home equity loan starts as a fixed-rate mortgage and then converts into an adjustable-rate mortgage.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 20
Chapter 19: Employment, Immigration, and Labor Law
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72742
Sample Questions
Q1) There is federal regulation of employers' pension plans for employees.
A)True
B)False
Q2) Network Industries, Inc., wants to monitor its employees' electronic communications.To avoid liability under laws related to employee monitoring, Network should announce the monitoring to
A)no one.
B)the employees.
C)the government.
D)the public generally.
Q3) An employer may avoid laws regulating monitoring activities by notifying employees that they are subject to monitoring.
A)True
B)False
Q4) Employers that fall under the provisions of the Federal Unemployment Tax Act of 1935 are taxed at regular intervals.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 21
Chapter 20: Beyond Our Borders:
Available Study Resources on Quizplus for this Chatper
6 Verified Questions
6 Flashcards
Source URL: https://quizplus.com/quiz/72728
Sample Questions
Q1) PowerSoft Corporation creates an internal social media network using enterprise social networking software and systems.Concerns about the use of an internal social media network include how to
A)keep the data safe.
B)make the data public.
C)provide access to all files to all employees.
D)maintain a personal, lively, and entertaining tone.
Q2) Belle is an employee of Capital Corporation, a U.S.firm.Dana is an employee of Esta, Ltd., a European firm.The problem of sexual harassment in the workplace is
A)confined to Europe alone.
B)confined to Europe and the United States.
C)confined to the United States alone.
D)worldwide.
Q3) Women's groups contend that sexual harassment is viewed with "quiet tolerance" in corporations based in A)Asia.
B)Europe.
C)North America.
D)South America.
To view all questions and flashcards with answers, click on the resource link above.
Page 22
Chapter 21: Employment Discrimination
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72743
Sample Questions
Q1) An employer may defend against a claim of unintentional discrimination by asserting that a practice that has a discriminatory effect is a business necessity.
A)True
B)False
Q2) Gelato Cheese Company, a major processor of cheese sold throughout the United States, employs one hundred workers at its principal processing plant.The plant is located in Heartland Corners, which has a population that is 50 percent white and 25 percent African American, with the balance Hispanic American, Asian American, and others.Gelato requires a high school diploma as a condition of employment for its cleaning crew.Three-fourths of the white population completed high school, compared with only one-fourth of those in the minority groups.Gelato has an all-white cleaning crew.Has Gelato violated the Civil Rights Act of 1964 Explain.
Q3) Making out a prima facie case of discrimination means that a plaintiff has met his or her initial burden of proof.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 23
Chapter 22: Environmental Law
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72744
Sample Questions
Q1) Ultra Kleen, Inc., operates a chain of laundry establishments throughout the United States.The government entity that is most likely to be involved in regulating the chain's environmental impact is A)Congress.
B)federal and state regulatory agencies.
C)local chambers of commerce.
D)local police departments.
Q2) ChemiCorp, Inc., makes and sells pesticides.If a substance is identified as harmful and the harm is imminent, the Environmental Protection Agency can
A)conduct an inspection of ChemiCorp's plant.
B)declare the substance to be unregulated and allow its production.
C)ignore the risk if the benefit outweighs the harm.
D)order the substance to be sold in an adulterated form.
Q3) National effluent (pollution)standards are set by the Environmental Protection Agency for each industry.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
24
Chapter 23: Antitrust Law and Promoting Competition
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72745
Sample Questions
Q1) A suit is filed against Dormroom Furniture Unlimited, Inc., alleging that the firm has committed the offense of monopolization.To determine whether Dormroom has committed this offense, the court will consider the extent of Dormroom's market power and
A)how Dormroom acquired its power.
B)how Dormroom makes its products.
C)Dormroom's customers.
D)Dormroom's suppliers.
Q2) Conditioning the sale of one product on the purchase of another is an exclusive-dealing contract.
A)True
B)False
Q3) Fresh Vegetables, Inc., a wholesaler, refuses to sell its produce to Good Mart Stores, Inc., a retailer.This is
A)"an unfair or deceptive act or practice."
B)a per se violation.
C)not a violation.
D)subject to analysis under the rule of reason.
To view all questions and flashcards with answers, click on the resource link above.
Chapter 24: Online Developments:
Available Study Resources on Quizplus for this Chatper
8 Verified Questions
8 Flashcards
Source URL: https://quizplus.com/quiz/72730
Sample Questions
Q1) Deutsche Werke, GmbH., a German firm, is harmed by a price-fixing scheme engineered by Collider Industries, S.A., an international cartel.The European Union is most likely to
A)actively pursue Collider and impose civil penalties.
B)actively pursue Collider and impose criminal penalties.
C)contact Collider and issue a reprimand but impose no penalties.
D)do nothing.
Q2) Ray-On Corporation makes inexpensive, highly efficient, solar energy cells.Ray-On anticipates a change in the demand for its products as a consequence of climate change.According to the Securities and Exchange Commission, Ray-On should A)disclose this information.
B)keep this information confidential.
C)reveal this information to insiders only if asked.
D)release this information to current shareholders only.
To view all questions and flashcards with answers, click on the resource link above.
Chapter 25: Investor Protection, Insider Trading, Corp Gov
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72746
Sample Questions
Q1) Corporations' chief executive officers are directly accountable for the accuracy of financial statements filed with the Securities and Exchange Commission.
A)True
B)False
Q2) Generally, stock offerings that are made in a limited manner during any twelve-month period are exempt from the registration requirement.
A)True
B)False
Q3) A corporation whose security does not qualify for an exemption can avoid the cost and complexity associated with registration.
A)True
B)False
Q4) Refer to Fact Pattern 20-1.If Fresh is exempt from the federal registration requirement, Fresh is
A)automatically exempt from any state registration requirement.
B)not subject to any state securities laws.
C)not necessarily exempt under a state registration requirement.
D)automatically subject to all state registration requirements.
To view all questions and flashcards with answers, click on the resource link above. Page 27