WorksheetsLaw/Finance Final Exam
Total questions: 55
Worksheet time: 28mins
The golden rule holds that you “Do unto others before they do unto you.”
True
False
At times, ethics and the law may conflict.
True
False
The laws of the United States are virtually all based on what?
The Roman Code
Administrative Law
common law
moral law
The heart of the golden rule is
empathy
greatest good
opinion
constitutional law
Rules of conduct established by the government to maintain stability and justice are called
ethics
golden rule
amendments
laws
Common law originated in what country?
England
Rome
France
Egypt
Decisions made by the highest court of any state follow the law of what?
original jurisdiction
prosecution
citation
precedent
A person who lives by certain social values that is considered in a high regard by most people is said to be what?
lawful
ethical
religious
stability
Legal rights and duties are defined and enforced by the __________________.
Amendments
Constitution
Statutes
law
This is the country's most fundamental law.
constitution
Bill of Rights
State Statutes
Federal Statutes
The first ten amendments of the U.S. Constitution are called the ____________.
Legislative Branch
State Constitutions
Common Law
Bill of Rights
A court can declare any law or government activity that goes against the Constitution as what?
unconstitutional
administrative law
statues
unlawful
A law that is passed by the legislature is know as what?
statute
constitution
regulation
precedent
Rules and procedures established by the regulatory agencies are know as what?
administrative law
statutory law
common law
governmental law
A government agency such as FCC or OSHA DOES NOT have the power to do which of the following things:
make rules or regulations
enforce rules
close a company down for good
investigate violations
When you go to the Court of Appeals a panel of how many judges hears your case?
1
2
3
4
At the bottom level of the federal court system are the federal
small claims court
district courts
Supreme Court
appellate courts
The jurisdiction of local courts is
general
appellate
special
limited
This is someone who is under the age of 18 who has done something that inappropriate like trespassing on your property will be known as what?
delinquent child
unruly child
neglected child
bright flight child
This is someone who is under the age of 18 who has done something that serious like robbing a bank during business hours?
delinquent child
unruly child
neglected child
bright flight child
The power given a court to hear a case and make a judgment is known as ____________________.
jurisdiction
Amendments
answer
Bill of Rights
Courts with special jurisdiction over minors are ____________________ courts.
adult court
juvenile court
general trial court
domestic relations court
Intermediate state courts hear appeals from courts of ____________________ jurisdiction.
appellate
original
limited
general
Following the jury's verdict, the court issues the ____________________.
sentencing
opening statements
interview of witnesses
closing statements
A court may issue a(n) ____________________ depriving a person of his or her freedom.
fine
death penalty
arrest to jail
probation
Under the ____________________ warnings, people must be informed of their constitutional rights when they are arrested.
judge
Miranda
US Constitution
Federal Law
Which party gets to make the closing statements first?
judge
jury
plaintiff
defendant
The two sides of the dispute come together with a 3rd party person to help come to a comprise to avoid going to court is called what?
arbitration
mediation
settlement
small claims court
The first step in the court case is which of the following?
opening statement
filing the pleading
selection of the jury
instructions to the jury
Which of the following is NOT something that a jury can decide?
guilty
not guilty
sentencing
mistrial
In order to avoid court, the two parties go into this and the third person decides on the verdict based on what is said by the two parties?
mediation
arbitration
med-arb
none of the other answers are correct
The first step taken in a juvenile offender's case is the
detention hearing
examination
jury selection
dispositional hearing
The person being tried for a crime is the ____________________.
plaintiff
defendant
offender
protagonist
John James pretended to start a business and persuaded some people to lend him some money. He used the money to go on a holiday to the Caribbean.
hijacking
smuggling
fraud
shoplifting
The Silva brothers owned an ABA team in this city before the team folded?
Chicago
St. Louis
Dallas
New York
Georgia, an elderly woman lived with her only son Billy. Billy convinced Georgia to sell him the lands that she owns for $50,000 but it was worth over $150,000. Right before the transfer of title, Georgia found out that Billy was going to sell it to a real estate developer for $250,000. What did Billy do?
undue influence
bilateral mistake
unilateral mistake
misrepresentation
I decided to contract a company to build me an office building. I received three bids on the projects and I decided to go with the lowest one because it was a half of million dollars less. Once the contract was agreed upon, the contractor realized that he made a math error and the bid should have been a million more dollars. What type of mistake just happened?
economic duress
physical duress
unilateral
bilateral
The taking back of an offer by the offeror is
revocation
rejection
cancellation
consideration
What is the decision of a court called?
Verdict
Jury
Bench Trial
Evidence
We get laws from all of the following sources except:
Businesses
The Constitution
Legislatures
Voters
Which statement is true regarding the possibility of a single incident being addressed in both civil and criminal court?
It is not possible for an incident to go to both courts.
Only criminal cases can be addressed in both courts.
The same incident can go to both civil and criminal court, depending on the circumstances.
Civil cases are always addressed before criminal cases.
The Nasdaq is considered a safer investment than than the S&P500.
True
False
The difference between the actual and forecast amounts is called what?
budget
variance
projection
actual
According to Mr. Hingle, over the history of the stock market, what is the average increase in value for stocks for a 10 year period?
5%
10%
15%
20%
What type of ratios measure the ability of a company to meet its short-term payments when they become due?
Investment Ratio
Liquidity Ratio
Asset Management Ratio
Profitability Ratio
What does ROE (Return on Owner's Equity) not consider when evaluating the ratio?
assets
liabilities
risk
investments
How is the S&P 500 calculated, by using what method?
current market capitalization
float adjusted market capitalization
add them up and divide
sum divided by a divisor
What is the largest stock exchange in the world by market capitalization?
NASDAQ
S&P 500
Dow Jones Industrial Averages
New York Stock Exchange
What forecasting method is one of the simplest and easy methods to follow?
The Straight Line Method
Moving Average
Simple Linear Regression
Multiple Linear Regression
When a company decides to use Moving Average to forecast, the normal amount of time is how much?
2 months
4 months
5 months
7 months
Before a lender gives out a loan to a business, the lender will want to know the company's what?
assets
liabilities
owner's equity
net income
The Wilson Sporting Company needs to the following things to make a tennis racket: string, carbon fiber composite, plastic, rubber, and leather. All of these materials are known as what to the Wilson Sporting Company?
sales return
gross profit
cost of goods sold
net sales
The statement that shows the profit that is leftover after all the expenses and dividends have been paid to its respect parties.
Cash Flow Statement
Statement of Retained Earnings
Balance Sheet
Income Statement
Which of the following is NOT an asset that can be easily manipulated to show profit is higher than it really is?
goodwill
depreciation
accounts receivable
trademark
Economic Value Added (EVA) takes into the account of the total cost of what?
capital
liabilities
asset
net income
