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Law/Finance Final Exam

Total questions: 55

Worksheet time: 28mins

Name
Class
Date
1.

The golden rule holds that you “Do unto others before they do unto you.”

a)

True

b)

False

2.

At times, ethics and the law may conflict.

a)

True

b)

False

3.

The laws of the United States are virtually all based on what?

a)

The Roman Code

b)

Administrative Law

c)

common law

d)

moral law

4.

The heart of the golden rule is

a)

empathy

b)

greatest good

c)

opinion

d)

constitutional law

5.

Rules of conduct established by the government to maintain stability and justice are called

a)

ethics

b)

golden rule

c)

amendments

d)

laws

6.

Common law originated in what country?

a)

England

b)

Rome

c)

France

d)

Egypt

7.

Decisions made by the highest court of any state follow the law of what?

a)

original jurisdiction

b)

prosecution

c)

citation

d)

precedent

8.

A person who lives by certain social values that is considered in a high regard by most people is said to be what?

a)

lawful

b)

ethical

c)

religious

d)

stability

9.

Legal rights and duties are defined and enforced by the __________________.

a)

Amendments

b)

Constitution

c)

Statutes

d)

law

10.

This is the country's most fundamental law.

a)

constitution

b)

Bill of Rights

c)

State Statutes

d)

Federal Statutes

11.

The first ten amendments of the U.S. Constitution are called the ____________.

a)

Legislative Branch

b)

State Constitutions

c)

Common Law

d)

Bill of Rights

12.

A court can declare any law or government activity that goes against the Constitution as what?

a)

unconstitutional

b)

administrative law

c)

statues

d)

unlawful

13.

A law that is passed by the legislature is know as what?

a)

statute

b)

constitution

c)

regulation

d)

precedent

14.

Rules and procedures established by the regulatory agencies are know as what?

a)

administrative law

b)

statutory law

c)

common law

d)

governmental law

15.

A government agency such as FCC or OSHA DOES NOT have the power to do which of the following things:

a)

make rules or regulations

b)

enforce rules

c)

close a company down for good

d)

investigate violations

16.

When you go to the Court of Appeals a panel of how many judges hears your case?

a)

1

b)

2

c)

3

d)

4

17.

At the bottom level of the federal court system are the federal

a)

small claims court

b)

district courts

c)

Supreme Court

d)

appellate courts

18.

The jurisdiction of local courts is

a)

general

b)

appellate

c)

special

d)

limited

19.

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?

a)

delinquent child

b)

unruly child

c)

neglected child

d)

bright flight child

20.

This is someone who is under the age of 18 who has done something that serious like robbing a bank during business hours?

a)

delinquent child

b)

unruly child

c)

neglected child

d)

bright flight child

21.

The power given a court to hear a case and make a judgment is known as ____________________.

a)

jurisdiction

b)

Amendments

c)

answer

d)

Bill of Rights

22.

Courts with special jurisdiction over minors are ____________________ courts.

a)

adult court

b)

juvenile court

c)

general trial court

d)

domestic relations court

23.

Intermediate state courts hear appeals from courts of ____________________ jurisdiction.

a)

appellate

b)

original

c)

limited

d)

general

24.

Following the jury's verdict, the court issues the ____________________.

a)

sentencing

b)

opening statements

c)

interview of witnesses

d)

closing statements

25.

A court may issue a(n) ____________________ depriving a person of his or her freedom.

a)

fine

b)

death penalty

c)

arrest to jail

d)

probation

26.

Under the ____________________ warnings, people must be informed of their constitutional rights when they are arrested.

a)

judge

b)

Miranda

c)

US Constitution

d)

Federal Law

27.

Which party gets to make the closing statements first?

a)

judge

b)

jury

c)

plaintiff

d)

defendant

28.

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?

a)

arbitration

b)

mediation

c)

settlement

d)

small claims court

29.

The first step in the court case is which of the following?

a)

opening statement

b)

filing the pleading

c)

selection of the jury

d)

instructions to the jury

30.

Which of the following is NOT something that a jury can decide?

a)

guilty

b)

not guilty

c)

sentencing

d)

mistrial

31.

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?

a)

mediation

b)

arbitration

c)

med-arb

d)

none of the other answers are correct

32.

The first step taken in a juvenile offender's case is the

a)

detention hearing

b)

examination

c)

jury selection

d)

dispositional hearing

33.

The person being tried for a crime is the ____________________.

a)

plaintiff

b)

defendant

c)

offender

d)

protagonist

34.

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.

a)

hijacking

b)

smuggling

c)

fraud

d)

shoplifting

35.

The Silva brothers owned an ABA team in this city before the team folded?

a)

Chicago

b)

St. Louis

c)

Dallas

d)

New York

36.

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?

a)

undue influence

b)

bilateral mistake

c)

unilateral mistake

d)

misrepresentation

37.

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?

a)

economic duress

b)

physical duress

c)

unilateral

d)

bilateral

38.

The taking back of an offer by the offeror is

a)

revocation

b)

rejection

c)

cancellation

d)

consideration

39.

What is the decision of a court called?

a)

Verdict

b)

Jury

c)

Bench Trial

d)

Evidence

40.

We get laws from all of the following sources except:

a)

Businesses

b)

The Constitution

c)

Legislatures

d)

Voters

41.

Which statement is true regarding the possibility of a single incident being addressed in both civil and criminal court?

a)

It is not possible for an incident to go to both courts.

b)

Only criminal cases can be addressed in both courts.

c)

The same incident can go to both civil and criminal court, depending on the circumstances.

d)

Civil cases are always addressed before criminal cases.

42.

The Nasdaq is considered a safer investment than than the S&P500.

a)

True

b)

False

43.

The difference between the actual and forecast amounts is called what?

a)

budget

b)

variance

c)

projection

d)

actual

44.

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?

a)

5%

b)

10%

c)

15%

d)

20%

45.

What type of ratios measure the ability of a company to meet its short-term payments when they become due?

a)

Investment Ratio

b)

Liquidity Ratio

c)

Asset Management Ratio

d)

Profitability Ratio

46.

What does ROE (Return on Owner's Equity) not consider when evaluating the ratio?

a)

assets

b)

liabilities

c)

risk

d)

investments

47.

How is the S&P 500 calculated, by using what method?

a)

current market capitalization

b)

float adjusted market capitalization

c)

add them up and divide

d)

sum divided by a divisor

48.

What is the largest stock exchange in the world by market capitalization?

a)

NASDAQ

b)

S&P 500

c)

Dow Jones Industrial Averages

d)

New York Stock Exchange

49.

What forecasting method is one of the simplest and easy methods to follow?

a)

The Straight Line Method

b)

Moving Average

c)

Simple Linear Regression

d)

Multiple Linear Regression

50.

When a company decides to use Moving Average to forecast, the normal amount of time is how much? 

a)

2 months

b)

4 months

c)

5 months

d)

7 months

51.

Before a lender gives out a loan to a business, the lender will want to know the company's what?

a)

assets

b)

liabilities

c)

owner's equity

d)

net income

52.

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?

a)

sales return

b)

gross profit

c)

cost of goods sold

d)

net sales

53.

The statement that shows the profit that is leftover after all the expenses and dividends have been paid to its respect parties.

a)

Cash Flow Statement

b)

Statement of Retained Earnings

c)

Balance Sheet

d)

Income Statement

54.

Which of the following is NOT an asset that can be easily manipulated to show profit is higher than it really is?

a)

goodwill

b)

depreciation

c)

accounts receivable

d)

trademark

55.

Economic Value Added (EVA) takes into the account of the total cost of what?

a)

capital

b)

liabilities

c)

asset

d)

net income