Business Law FBLA Most Recent Exam Actual Complete
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Newest Exam | Just Released!!2026 -2027
Agency
A type of working relationship in which one person represents another person
in a business transaction with a third party
Agency by Estoppel
When the principal's actions lead the third party to believe that the agent is
working for the principal (appointed but not officially)
Agent
The person who has been authorized to do the work
Alternative Dispute Resolution
Parties try to resolve disagreements outside of the usual court system, by
mediation, arbitration, conciliation, and negotiation
Annual Percentage Rate (APR)
The true interest rate of a loan
,Apparent Authority
Authority that a 3rd party believes an agent has while acting on behalf of the
principal
Appellate Court
The U.S. courts of appeals in federal system; hears appeals and reviews cases
from the lower courts
Arraignment
A formal hearing during which the defendant is read the indictment or info and
is asked to plead guilty or not guilty
Articles of Incorporation
A legal document filed with the state to establish a corporation
Arrest
Occurs when a person is legally deprived of his or her freedom
Assault
Attempt to commit a battery
Asset Acquisition
When one corporation agrees to purchase the assests, such as property, building,
and equipment, of a second corporation
, Assignment
The transfer of a right under contract
Assumption of Risk
A defense against negligence that is raised when the plaintiff knew of the risk
and still took the chance of being injured
Bail
Money or other property that is left with the court to assure that a person who
has been arrested, but released, will return to jail
Bailment
The transfer of possession and control of personal property to another with
the intent that the same property will be returned later
Bankruptcy
The legal process by which a debtor can make a fresh start through the sale of
assets to pay off creditors
Battery
The unlawful touching of another person
Bigamy
The illegal act of having two spouses at the same time
Real Exam Questions And Correct Answers (Verified
Answers) Already Graded A+ || Guaranteed Success!!
Newest Exam | Just Released!!2026 -2027
Agency
A type of working relationship in which one person represents another person
in a business transaction with a third party
Agency by Estoppel
When the principal's actions lead the third party to believe that the agent is
working for the principal (appointed but not officially)
Agent
The person who has been authorized to do the work
Alternative Dispute Resolution
Parties try to resolve disagreements outside of the usual court system, by
mediation, arbitration, conciliation, and negotiation
Annual Percentage Rate (APR)
The true interest rate of a loan
,Apparent Authority
Authority that a 3rd party believes an agent has while acting on behalf of the
principal
Appellate Court
The U.S. courts of appeals in federal system; hears appeals and reviews cases
from the lower courts
Arraignment
A formal hearing during which the defendant is read the indictment or info and
is asked to plead guilty or not guilty
Articles of Incorporation
A legal document filed with the state to establish a corporation
Arrest
Occurs when a person is legally deprived of his or her freedom
Assault
Attempt to commit a battery
Asset Acquisition
When one corporation agrees to purchase the assests, such as property, building,
and equipment, of a second corporation
, Assignment
The transfer of a right under contract
Assumption of Risk
A defense against negligence that is raised when the plaintiff knew of the risk
and still took the chance of being injured
Bail
Money or other property that is left with the court to assure that a person who
has been arrested, but released, will return to jail
Bailment
The transfer of possession and control of personal property to another with
the intent that the same property will be returned later
Bankruptcy
The legal process by which a debtor can make a fresh start through the sale of
assets to pay off creditors
Battery
The unlawful touching of another person
Bigamy
The illegal act of having two spouses at the same time
