BUL 3320 USF Exam 3 Questions And
Answers
A
R
U
LA
C
O
D
, The principal-agent relationship is a fiduciary relationship - ANS True
If the principal is undisclosed, an agent can have no apparent authority - ANS True
The Labor-Management Relations Act (Taft-Hartley Act) prohibits the closed shop (i.e. requiring
A
an employer to hire only union members), but permits the union shop (i.e. permitting an
employer to hire non-union members but requiring the hired employee to become a union
member within a specified time after gaining employment and to remain a member in good
R
standing as a condition of employment) in a state unless a union shop is prohibited by a right to
work law in that state - ANS True
Northern Airlines would like to hire all male cabin attendants for its airline in order to serve the
U
growing number of female executives who travel. Sex is a legal BFOQ under these facts - ANS
False
LA
Which of the following acts may terminate an agency?
A) Lapse of time
B) Revocation of authority
C) Renunciation by the agent
D) All of the above are correct - ANS D) All of the above are correct
C
Which of the following allowed claims will be paid first to the debtor's estate in a Chapter 7
bankruptcy?
O
A) A gap creditor with a claim of $2,000.
B) A state claiming $5,000 in back taxes.
C) The trustee's expenses of $3,000.
D
D) Employees claiming unpaid wages of $4,000 for wages earned within 90 days of the
bankruptcy filing. - ANS C) The trustee's expenses of $3,000.
Pat wishes to raise some money to begin mass producing their prize winning jellies and jams.
Pat offers their neighbors apiece of their profits if they will stake their at $2,000 a piece. Is the
investment a security?
A) Yes, since Pat will do all of the work.
B) Yes, because Pat's neighbors will have a security interest in the jelly.
C) No, since Pat's neighbors are putting no effort into it.
Answers
A
R
U
LA
C
O
D
, The principal-agent relationship is a fiduciary relationship - ANS True
If the principal is undisclosed, an agent can have no apparent authority - ANS True
The Labor-Management Relations Act (Taft-Hartley Act) prohibits the closed shop (i.e. requiring
A
an employer to hire only union members), but permits the union shop (i.e. permitting an
employer to hire non-union members but requiring the hired employee to become a union
member within a specified time after gaining employment and to remain a member in good
R
standing as a condition of employment) in a state unless a union shop is prohibited by a right to
work law in that state - ANS True
Northern Airlines would like to hire all male cabin attendants for its airline in order to serve the
U
growing number of female executives who travel. Sex is a legal BFOQ under these facts - ANS
False
LA
Which of the following acts may terminate an agency?
A) Lapse of time
B) Revocation of authority
C) Renunciation by the agent
D) All of the above are correct - ANS D) All of the above are correct
C
Which of the following allowed claims will be paid first to the debtor's estate in a Chapter 7
bankruptcy?
O
A) A gap creditor with a claim of $2,000.
B) A state claiming $5,000 in back taxes.
C) The trustee's expenses of $3,000.
D
D) Employees claiming unpaid wages of $4,000 for wages earned within 90 days of the
bankruptcy filing. - ANS C) The trustee's expenses of $3,000.
Pat wishes to raise some money to begin mass producing their prize winning jellies and jams.
Pat offers their neighbors apiece of their profits if they will stake their at $2,000 a piece. Is the
investment a security?
A) Yes, since Pat will do all of the work.
B) Yes, because Pat's neighbors will have a security interest in the jelly.
C) No, since Pat's neighbors are putting no effort into it.
