Business Law FBLA Latest 2026
UPDATED Exam Questions and Verified
Answers (2026/2027) | Graded A+ |
100% Success
morality - Correct Answer -The values that govern a group's ideas about right and
wrong
murder - Correct Answer -The intentional killing of another person
mutual benefit bailment - Correct Answer -A bailment in which both the bailor
and bailee receive benefits
negligence - Correct Answer -A tort that results when one person carelessly
injures another
negotiable instrument - Correct Answer -A written document giving legal rights
that may be passed to others by endorsement or delivery; commercial paper
,negotiation - Correct Answer -The transfer of an agreement in such a way that the
transferee becomes a holder
no-fault divorce - Correct Answer -A divorce granted without either party having
to prove the other party guilty of misconduct
nondelegable duty - Correct Answer -A duty that cannot be delegated, or
transferred, to another party
note - Correct Answer -A written promise to pay money; promissory note
notice by publication - Correct Answer -Notice usually given by publishing a notice
in a local newspaper
Nuclear Regulatory Commission (NRC) - Correct Answer -Part of the Department
of Energy, this agency regulates nuclear energy
,Occupational Safety and Health Administration (OSHA) - Correct Answer -The
federal government agency that regulates health and safety standards for
companies in the United States
offer - Correct Answer -A proposal by one party to another intended to create a
legally binding agreement
partnership - Correct Answer -An association of two or more persons to carry on
as co-owners of a business for profit
patent - Correct Answer -A grant giving an inventor the exclusive right to make,
use, or sell an invention for a period set by Congress
payee - Correct Answer -The person to whom the promise is made in a note
pension plan - Correct Answer -A program established by an employer or a union
to provide income to employees after they retire
, personal property - Correct Answer -Everything, other than real property, that can
be owned
plaintiff - Correct Answer -The party that accuses a person of a crime
polygamy - Correct Answer -The illegal act of having more than two spouses at the
same time
power of attorney - Correct Answer -Any writing granting someone authority to
act as an agent
premium - Correct Answer -The amount of money an insured pays for insurance
coverage
prenuptial agreement - Correct Answer -A written and signed legal contract
couples make before getting married dealing with property and support issues
principal - Correct Answer -The person who authorizes someone to represent his
or her interests
UPDATED Exam Questions and Verified
Answers (2026/2027) | Graded A+ |
100% Success
morality - Correct Answer -The values that govern a group's ideas about right and
wrong
murder - Correct Answer -The intentional killing of another person
mutual benefit bailment - Correct Answer -A bailment in which both the bailor
and bailee receive benefits
negligence - Correct Answer -A tort that results when one person carelessly
injures another
negotiable instrument - Correct Answer -A written document giving legal rights
that may be passed to others by endorsement or delivery; commercial paper
,negotiation - Correct Answer -The transfer of an agreement in such a way that the
transferee becomes a holder
no-fault divorce - Correct Answer -A divorce granted without either party having
to prove the other party guilty of misconduct
nondelegable duty - Correct Answer -A duty that cannot be delegated, or
transferred, to another party
note - Correct Answer -A written promise to pay money; promissory note
notice by publication - Correct Answer -Notice usually given by publishing a notice
in a local newspaper
Nuclear Regulatory Commission (NRC) - Correct Answer -Part of the Department
of Energy, this agency regulates nuclear energy
,Occupational Safety and Health Administration (OSHA) - Correct Answer -The
federal government agency that regulates health and safety standards for
companies in the United States
offer - Correct Answer -A proposal by one party to another intended to create a
legally binding agreement
partnership - Correct Answer -An association of two or more persons to carry on
as co-owners of a business for profit
patent - Correct Answer -A grant giving an inventor the exclusive right to make,
use, or sell an invention for a period set by Congress
payee - Correct Answer -The person to whom the promise is made in a note
pension plan - Correct Answer -A program established by an employer or a union
to provide income to employees after they retire
, personal property - Correct Answer -Everything, other than real property, that can
be owned
plaintiff - Correct Answer -The party that accuses a person of a crime
polygamy - Correct Answer -The illegal act of having more than two spouses at the
same time
power of attorney - Correct Answer -Any writing granting someone authority to
act as an agent
premium - Correct Answer -The amount of money an insured pays for insurance
coverage
prenuptial agreement - Correct Answer -A written and signed legal contract
couples make before getting married dealing with property and support issues
principal - Correct Answer -The person who authorizes someone to represent his
or her interests
