Question: Market risk refers to the tendency of a stock to move with the general stock market. A stock with above-average market risk will tend to be more volatile than an average stock, and its beta will be greater than 1.0.
a. True
b. False
Answer:
Question: Which of the following is not a requirement of all contracts?
Writing
Agreement
Consideration
Answer: Writing
Question: Lotta Plante owns a nursery. She is informed that the Federal government is going to take the nursery land to extend a highway. Which of the following is likely going to be the issue between Lotta and the government?
Answer Options:
Her ability to refuse any offer the government makes to purchase her land.
The government’s refusal to pay Lotta any compensation.
Listening to Lotta’s ideas as to how the government should use her land.
Whether the compensation given is just compensation.
Answer: Whether the compensation given is just compensation.
Question: In will terminology, a devise is which of the following?
Answer Options:
An instruction in a living will.
The manner in which a lifetime trust is created.
A term in a will gifting property to a beneficiary through a will.
A power granted to an agent in a durable power of attorney.
Answer: A term in a will gifting property to a beneficiary through a will.
Question: Which of the following contracts do not have to be in writing?
Answer Options:
A purchase agreement for a house.
An otherwise non-enforceable debt.
A mortgage.
An employment contract.
Answer: An employment contract.
Question: :
Which of the following is true with respect to personal property?
Personal property can never be converted to real property.
If real property is converted to personal property, the contract for sale must be in writing.
Intangible property is not personal property.
Some personal property can be converted to real property.
Answer: Some personal property can be converted to real property.
Question: Which of the following statements is CORRECT?
a. One advantage of a zero coupon Treasury bond is that no one who owns the bond has to pay any taxes on it until it matures or is sold.
b. Long-term bonds have less price risk but more reinvestment risk than short-term bonds.
c. If interest rates increase, all bond prices will increase, but the increase will be greater for bonds that have less price risk.
d. Relative to a coupon-bearing bond with the same maturity, a zero coupon bond has more price risk but less reinvestment risk.
e. Long-term bonds have less price risk and also less reinvestment risk than short-term bonds.
Answer Options:
a. False
b. False
c. False
d. True
e. False
Answer: d. True
Question: Phyllis Goode went to a plumbing store and purchased a sink for her cabin. There is a remote road leading to the cabin but instead of driving on that road to reach the cabin, without permission, Phyllis drives through another property owner’s driveway to get to the cabin. By driving through the driveway instead of through the remote road, Phyllis saved at least an hour. Which of the following is true?
Phyllis committed a tort because she did not have permission to use the driveway.
Phyllis did not commit a tort because the driveway is the only access to her property.
It is not a tort because the driveway is an implied easement.
None of the alternatives are correct.
Answer: Phyllis committed a tort because she did not have permission to use the driveway.
Question: General damages awarded to patients in medical malpractice cases in Florida are no longer subject to limits because
Answer Options:
the U.S. Supreme Court ruled that limits on those kinds of damages in medical malpractice cases violated the U.S. Constitution.
the prior cap was based on common law rather than statutory law.
the Florida Supreme Court ruled that places a cap on general damages in medical malpractice cases violated the Florida Constitution.
Florida doctors were taking advantage of the cap.
Answer: the Florida Supreme Court ruled that places a cap on general damages in medical malpractice cases violated the Florida Constitution.
Question: The difference between registering a copyright and not registering a copyright is which of the following?
Answer Options:
There is no difference.
Only by registering a copyright can the copyright holder recover statutory damages.
If the copyright is registered, it is automatically also registered as a trademark.
By registering a copyright, the copyright holder is entitled to a greater exclusive rights period.
Answer: Only by registering a copyright can the copyright holder recover statutory damages.