Unit 5 Review 21-40: Question Preview (ID: 22741)

Below is a preview of the questions contained within the game titled UNIT 5 REVIEW 21-40: Unit 5 Review Part 2 .To play games using this data set, follow the directions below. Good luck and have fun. Enjoy! [print these questions]

Play games to reveal the correct answers. Click here to play a game and get the answers.

The relationship of agency exists when one person has the authority to
a) alter legal relations b) control and supervise c) both control and supervise d) none of these
The person who authorizes another in an agency relationship is the
a) principal b) agent c) employee d) third party
Any agreement reached by the representative in an agency relationship binds
a) the principal and the third party b) the agent and the principal c) the agent and the third party d) the employee and the third party
The range of acts authorized by the principal is
a) fiduciary duty b) the scope of authority c) the warranty of the principal's capacity d) none of these
Examples of fiduciary duties would not include
a) finances b) accounting c) confidentiality d) loyalty and obedience
A warranty of the principal's capacity is imposed by law on the
a) agent b) employer c) principal d) third party
Direct communication by the principal to the agent whether oral or written is
a) an express authority b) an apparent authority c) an implied authority d) none of these
When the principal's words or conduct create an authority, it is called
a) an apparent authority b) an express authority c) an implied authority d) none of these
Savannah wrote a letter to Dusty giving him the authority to buy and sell stocks on her behalf. What was, in fact, created in this situation?
a) both express authority and power of attorney b) express authority c) power of attorney d) apparent authority
Grant is a high school basketball player. Although he is a minor, he wants to enter into contract negotiations with colleges. In this situation, which of these statements is true?
a) Even though he lacks contractual capacity, Grant can be a principal or can act through an agent b) Because he is a minor, Grant can not act as either a principal or agent c) A third-party agent can not be held liable because Grant lacks contractual capacity as a principal d) None of these is true
The fiduciary duty that binds the agent even years after the agency relationship has ended is
a) confidentiality b) care and skill c) accounting d) loyalty and obedience
The principal has an obligation to the agent to
a) pay what was promised b) reimburse expenses c) repay any losses suffered due to the principal's instructions d) all of these
The power, but not the right to eliminate the agency at any time goes to
a) both the agent and the principal b) the agent c) the principal d) none of these
An agency may be terminated by
a) all of these b) an agreement c) bankruptcy d) a change of law
If an agent mixes his funds with that of his principal, what fiduciary duty has the agent violated?
a) duty of accounting b) commingling duty c) duty to communicate d) confidentiality duty
Which of the following as an agent's core duty to a principal?
a) duty of loyalty and obedience b) duty to communicate c) duty of accounting d) duty of confidentiality
Employment relationship can be established without
a) length of term b) contract to pay c) supervision and control d) all of these
A common element for an employee and an independent contractor would be
a) a contract to pay b) a length of term c) supervision and control d) all of these
Employment contract terms can be derived from
a) all of these b) express agreements c) implied agreements d) state and federal laws
Employees that can be discharged at any time are
a) employees working at will b) employees working for a specific term c) public employees d) none of these
Play Games with the Questions above at ReviewGameZone.com
To play games using the questions from the data set above, visit ReviewGameZone.com and enter game ID number: 22741 in the upper right hand corner at ReviewGameZone.com or simply click on the link above this text.

Log In
| Sign Up / Register