MGMT Exam 3

The Electronic Fund Transfer Act concerns liability limits for stolen ATM cards. Which statement is correct about maximum consumer liability:

$50 if the financial institution is notified within 2 days

Which of the following is not a function of the Food and Drug Administration?

-inspections of food and drug producing establishments -drug evaluation studies -food additives studies -classifying unsafe foods all of the above are functions of the FDA

The Family and Medical Leave Act gives employees the right to take:

12 weeks of unpaid leave per year for health and family-related reasons

For the NLRB to oversee a representation election, at least what percent of employees must request an election?

30%

A principal's duties toward an agent includes

Duty of indemnification Duty to compensate Duty of reimbursement Not Duty of obedience

If an investigation of a discrimination charge is not settled by the EEOC working with the employer and complaining employee, to carry the case further, the:

EEOC issues a "right-to-sue" letter giving the employee the right to sue the employer in court

In the absence of a contrary agreement, a general partner's share of the partnership profits is determined by

Each general partner shares equally in the profits

Under the requirement of good-faith bargaining, both parties are required to come to an agreement despite their differences.

False

Surveys show that people may prefer to d^al with members of their own race. A company assigns white salespersons to white customers, and Hispanic salespersons to Hispanic clients. This makes revenues to all the salespersons higher than if the sales-persons were assigned randomly. Assignments based on race are:

Illegal segregation under Title VII

Which of the following sanctions (punishments) cannot be imposed by an administrative agency after an adequate hearing?

Jail time

Which of the following is not a procedural requirement for judicial review of an agency's action?

Jurisdiction Standing Ripeness Exhaustion all of the above are procedural requirements

In a formal adjudicatory hearing, which of the following due process requirements is not required or permitted?

Jury trial

Which of the following are afforded limited liability for the debts and torts of a business?

Limited Partners

The Environmental Protection Agency (EPA) wants to establish a list of air pollutants and make rules defining their permissible levels. These rules would be characterized as:

Substantive/legislative rules

A contract between a principal and an agent establishing an agency relationship need not be in writing nor need it b.e supported by consideration.

True

Death of either the principal or the agent terminates the agency by operation of law

True

If not otherwise agreed, either a principal or an agent may terminate an agency relationship at-will.

True

If the court "pierces the corporate veil" shareholder(s) have unlimited personal liability for corporate debts.

True

Limited liability companies are taxed like partnerships, but have the liability rules of a corporation.

True

Mandatory subjects which Congress requires unions and management to bargain in good faith concerning include

Wages, Hours, Seniority, Promotion rules, All of the above

Disparate treatment (under Title VII) refers to:

a and c

The average cost of developing a new drug and clearing all FDA regulations to get the drug to market are:

about $500 million and are paid by the drug companies

This ad was seen in a publication: "Wanted: Assistant to the President. Great job opportunity for bright, young, hard working person to work with President of a major private university." This ad is most likely to violate:

age discrimination laws since "young" is probably not over the age of 40

A place of employment where all employees are represented by a union and most employees are union members, but non-union workers must pay fees to the union, is called:

an agency shop

To create a corporation:

articles of incorporation and an application must first be filed with the federal government

Dissolution of a partnership takes place, unless otherwise provided for by contract, in the following instances except:

change in financial condition of a partner

Which of the following was not outlawed by the Taft-Hartley Act?

company unions

The Fair Debt Collection Practices Act applies to:

debt collection agencies

The Federal Trade Commission regulates

deceptive business practices false advertising claims unfair business practices All of the above

Unless otherwise stated by contract, the law of partnership presumes which of the following not to be true?

each partner has an equal voice in partnership management. a majority vote controls ordinary business decisions only managing partners are fully responsible for debts of the partnership regardless of the amount invested in the partnership, each partner has an equal vote all of the above are true

In Whirlpool v. Marshall, employees refused to perform work on a screen suspended twenty feet over the floor of a manufacturing plant. The employees were punished by their employer. The Supreme Court ruled that under OSHA:

employees may refuse to obey orders that pose an immanent risk of death or serious injury

The workers at a meat packing plant are on strike. They picket the banks in town to put pressure on the meat packing plant to come to a settlement. The pickets at the banks are:

illegal secondary boycotts

A limited liability company:

is taxed like a partnership has the liability of a corporation a&b

The business organization that has at least one general partner and other investors who have limited liability is a:

limited partnership

Which of the following is not a feature of the Fair Credit Billing Act:

maximum liability for unauthorized charges is $100 if the creditor is notified

To not violate Title VII's prohibition of discrimination based on religion, an employer may have to make changes in the way her business is organized to meet religious requirements of employees. Employers are required to incur:

no more than minimal expenses to accommodate an employee's religious requirements

Comparing regulation of drugs to other countries, the U.S. is:

one of the strictest nations and has great impact on the world market

A promise of a reward, such as promotion or pay raise, for providing sexual favors being demanded is called:

quid pro quo harassment

Which of the following would not be likely to be a violation of the Americans with Disabilities Act, because it goes beyond the scope of the legislation?

refusing to hire job applicants because they have a history of drug abuse

The "Mail Order Rule" slates that if a company:

sells products through the mail it must have a reasonable basis for expecting to ship the products within the time advertised

Suppose a debt collector has been calling and sending notices of a debt you owe. If you wish to end further notification from the debt collector, you must:

send the debt collector a letter requesting they stop contact

Which of the following is not part of the FTC policy statement for determining if a practice is deceptive?

there is a misrepresentation or omission of information in a communication to consumers the deception is likely to mislead a reasonable consumer the deception is material—likely to mislead the consumer to his or her detriment there is proximate cause between the deception and the losses suffered by consumers who are misled All of the above

The Food and Drug Administration does not have which' of the following powers:

to restrict false advertising of drugs, to inspect plants where drugs are manufactured, to set the levels of additives that may be used in food, to seize drugs that are already approved to be on the market all of the above are FDA powers