International Business Law
Multiple Choice Questions
1. Only stats (nations can be parties to the case before the world count
A.True B.False
2. Only of the major objectives of European Union regulation is to ensure the free movement of people, capital, goods, and services.
- True
- False
3. Under NAFTA, a country can make citizenship a requirement for intellectual property rights protection.
- True
- False
4. The united states is one the few nations of the world that regulates advertising to children.
- True
- False
5. In a prosecution for violating the foreign corrupt practice ACT ( FCPA,) the defendant conduct will be excused if he r she can prove that the payment was paid as a result of extortion by the foreign official.
- True
- False
6. Assume article X is manufactured in Country Y. it is shipped to country Z where it is substantially transformed before being imported into the united states for resale. For the purposes of imposing import duties under U.S. law, article X will be considered a product of Country Y.
- True
- False
7. Forms of international business can include all of the following except:
- Foreign direct investment
- Trade
- Licensing of intellectual property
- There is no exception. All of the other choices are forms of international business
8. Under the harmonized tariff schedule, all countries charge the same rate of duty upon the import of the same or similar products.
- True
- False
9. Remedies for breach of contract under the UN convention on contracts for the International Sale of Goods (CISG) can include cancellation of the contract, an extension of performance, money damages, specific performance and price reduction.
- True
- False
10. The United States is part of the common law system.
- True
- False
11. GATT stands for:
- General administration of Tactical Trade
- General assistance for traffic in trade
- General administrative trade treaty
- General agreement on trade and tariffs.
12. If mediation is chosen as a form of dispute resolution, it will be:
- A mandatory process
- Binding on all the parties
- Not available in international disputes.
- A voluntary process.
13. In interpreting the harmonized tariff schedule, the courts will look at the common and commercial meaning of the items being imported.
- True
- False
14. Europe Is part of the civil law system.
- True
- False
15. Copyright, patents and trademarks are intellectual properties.
- True
- False
16. Some foreign countries require employee input into strategic decisions, prescribe employee representation on boards of directors and place impediments on dismissals.
- True
- False
17. European Community competition law applies only to agreements and transactions that:
- The European community wishes to have its approval and involvement.
- Involve a European community-based company
- Have a direct impact on foreign commerce
- Have an effect on intra-European community trade.
18. An independent firm that purchases goods for resale directly from the exporter assumes credit risks in the local market, and provides product service and support is known as:
- A freight forwarder.
- A foreign distributor
- A customs broker
- A foreign sales representative.
- A sales agent
19. The International Chamber of Commerce is:
- None of the other choices are correct.
- The headquarters for GATT
- A worldwide organization with business community memberships
- Part of the United Nations with emphasis on tariff reductions.
20. Letters of credit are a flexible banking arrangement that gives parties an opportunity to experiment with doing business with each other.
- True
- False
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