Business and Personal Law

Chapter 18: Business and Regulations

Online Practice Tests

1
The Commerce Clause gives Congress
A)the power to regulate business among the states.
B)the responsibility to protect the environment from businesses who pollute.
C)the power to regulate nuclear energy from state to state.
D)the responsibility to protect consumers from negligent business practices.
2
Interests in sports teams and the sale of coins are
A)protected by anti-liability statutes.
B)types of securities.
C)protected by the Clayton Antitrust Act.
D)investments that must follow EPA guidelines.
3
The SEC consists of five commissioners appointed by
A)Congress.
B)the Supreme Court.
C)the United Nations.
D)the President.
4
The purpose of the Robinson-Patman Act is to
A)protect businesses from the wrongful acts of other businesses.
B)make monopolies illegal and to protect businesses from unreasonable restraint of trade.
C)makes it illegal to sell goods at lower prices to large purchasers without offering the same discount to smaller purchasers.
D)control takeover bids by making sure shareholders know the qualifications and the intentions of the suitor.
5
A detailed explanation of the stock offering for potential investors is called the
A)registration document.
B)prospectus.
C)stock report.
D)financial analysis plan.
6
Automobile emissions standards were set by
A)the Clean Air Act of 1963.
B)the Clean Air Act of 1977.
C)the EPA.
D)the Toxic Substance Control Act.
7
Oil pipeline rates are regulated by
A)the International Energy Agency.
B)the Toxic Substance Control Act.
C)the United Nations.
D)the Federal Energy Regulatory Commission.
8
The Sarbanes-Oxley Act was written
A)to control hostile takeover bids.
B)to protect corporate directors whose companies are involved in takeovers.
C)following a series of corporate failures in the 1990s.
D)to prevent monopolies by utility companies.
9
The federal government can regulate
A)only businesses that are incorporated.
B)business that does not do business overseas.
C)any business activity that affects interstate commerce.
D)businesses that earn over $500,000 per year.
10
The Federal Trade Commission Act
A)provides procedures for companies to merge.
B)requires sellers to treat all buyers equally.
C)prevents businesses from attempting to reduce competition.
D)was designed to protect businesses from the wrongful acts of other businesses.
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