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History Multiple Choice Questions

Question
	

1. All of the following are correct regarding the development of fief holding EXCEPT it:
A. was a response by local leaders who gathered military retainers to protect themselves, as the remnants of the imperial government could not adequately defend the state. 
B. led to the creation of a large number of knights who literally owed their livings to the lord who granted them a fief. 
C. led to a five hundred year period when warfare was dominated by heavily armed cavalry. 
D. was a result of the Church's attempt to give serfs and peasants more social mobility.

2. By the end of the thirteenth century, the institutionalization of the English Parliament:
A. provided the foundation for the absolute rule of the monarch. 
B. enabled the barons and church lords to establish themselves in the House of Commons. 
C. was a system of power sharing between the monarch and groups within the society. 
D. enabled the knights and burgesses to establish themselves in the House of Lords.
3. France's first parliament, begun under Philip IV, was the:
A. Chambre des Comptes. 
B. Parlement. 
C. Diet of Paris. 
D. Estates-General.
4. Alexander Nevsky, prince of Novgorad, defeated the:
A. Russians. 
B. Byzantines. 
C. Germans. 
D. Mongols.
5. The Dominican friars:
A. were established in the ninth century. 
B. were first led by the highly intellectual Dominic de Guzmán. 
C. lived among the people and helped the poor. 
D. became key factors in combating heresy under the leadership of the Holy Roman Emperor.
6. Which of the following was NOT true about medieval towns and cities?
A. Many towns were receiving charters of liberties by the 1100s and 1200s. 
B. Their location near transportation routes was essential. 
C. They were food producing, self sufficient units, in which commerce was secondary. 
D. Many were revived Roman cities whose size and populations grew as trade increased.
7. All of the following are true about scholasticism EXCEPT:
A. it is a term used to depict the philosophical and theological system of medieval universities. 
B. it attempted to prove the unity of faith and reason. 
C. it was preoccupied with establishing the concurrence between Christian and Aristotelian thought. 
D. the author of the Summa Theologica was Abelard dun Scotus.
8. The pope who gave his blessing and authorized the First Crusade was:
A. Urban II. 
B. Gregory VII. 
C. Gregory the Great. 
D. Innocent III.
9. Justinian's most lasting accomplishment was:
A. his victory over the Ostrogoths. 
B. his defeat of the Muslim armies outside of Constantinople. 
C. the Corpus Iuris Civilis. 
D. his victory over the Nika rioters.
10. Iconoclasm:
A. created a division in the Roman Church but not the Orthodox Church. 
B. required the worship of icons by Orthodox Christians. 
C. outlawed the use of icons in the Byzantine Empire. 
D. was imposed upon the East by Charlemagne.
11. The major threat to the Byzantine Empire in the eleventh century came from the:
A. Arabs. 
B. Seljuk Turks. 
C. Ottoman Turks. 
D. Austrians.
12. The Mongols:
A. facilitated the spread of the plague with the creation of its Silk Road empire. 
B. stopped the spread of the plague to China, but allowed it to decimate the West. 
C. stopped the spread of the plague to the West, but allowed it to decimate China. 
D. were immune from the Yersinia pestis.
13. As a result of the Black Death:
A. there was a decrease in Anti-Semitism. 
B. there was an increase in Anti-Semitism. 
C. flagellation disappeared. 
D. the population rose in Italian cities but fell in English and French cities and towns.
14. All of the following regarding the Hundred Years' War are correct EXCEPT:
A. traditional nobles fighting on horseback were the keys to victory. 
B. new weapons were used in the war, including the long bow and gunpowder. 
C. the English were victorious at the battles of Crecy and Agincourt. 
D. Joan of Arc was burnt at me is Kristen...I have to finish this in the next 17 minutes. Can you please help?
	

ECO 121 (Macroeconomics) Test 4, Fall 2013

Question
	Questions 1 to 40: Do all 40 questions (Two and one-half points each)
1.

Which of the following is the basic economic policy function of the Federal Reserve Banks?
A) the supervision of commercial banks
B) holding the deposits or reserves of commercial banks
C) acting as fiscal agents for the Federal government
D) regulating the supply of money

2.

When banks bundled mortgage loans and sold the resulting mortgage -backed securities:
A. they insulated the banking system from any risk associated with mortgage defaults.
B. they greatly reduced the overall risk of mortgage defaults.
C. they reduced their direct exposure to mortgage default risk, but were still exposed through loans to investors in
mortgage-backed securities.
D. buyers of these securities assumed all of the risk of mortgage defaults.

3.

In the financial industry, "securitization" refers to:
A. increasing insurance protection on bank deposits.
B. requiring greater down payments on home purchases to reduce mortgage default risk.
C. bundling groups of loans, bonds, mortgages, and other financial debts into new securities.
D. increasing collateral requirements on loans.

4.

Collateralized default swaps:
A. helped reduce the losses from the mortgage default crisis.
B. involve exchanging high-risk mortgages for low-risk mortgage-backed securities.
C. are loans to investors in mortgage -backed securities.
D. insured holders of loan-backed securities in case they underlying loans were not repaid.

5.

Banks create money when they:
A) loan money.
B) add to their reserves in the Federal Reserve.

C) accept deposits of cash.
D) sell government bonds.

6.

The amount that a commercial bank can lend at any given time is determined by i ts:
A) outstanding checkable deposits.
C) required reserves.
B) excess reserves.
D) outstanding loans.

7.

The value of the monetary multiplier is:
A) 1/ Excess Reserves.
B) 1/MPS.

C) 1/ Required Reserve Ratio.
D) 1/MPC.

8.

Suppose a commercial banking system has $100,000 of outstanding checkable deposits and actual reserves of
$50,000. If the reserve ratio is 20 percent, the banking system can expand the supply of money by the maximum
amount of:
A) $50,000.
B) $100,000.
C) $150,000.
D) $300,000.

9.

The ABC Bank of Bermuda has outstanding checkable deposits of $300,000 and a reserve ratio of 10%. If it has
excess reserves of $45,000, what is the size of the bank’s actual reserves?
A) $25,000
B) $55,000
C) $75,000
D) $275,000

10.

When the interest rate falls, the:
A. Asset demand for money decreases
B. Transactions demand for money increases

11.

C. Total amount of money demanded decreases
D. Total amount of money demanded increases

When the Federal Reserve uses open-market operations to raise the Federal funds rate several times over a year, it
is pursuing:
A) An expansionary money policy
C) A restrictive money policy
B) A prime interest rate policy
D) A Taylor rule policy

ECO 121 (Macroeconomics)

Test 4(112713)

12.

Which of the following will increase commercial bank reserves?
A) the purchase of government bonds in the open market by the Federal Reserve Banks
B) the sale of government bonds in the open market by the Federal Reserve Banks
C) an increase in the reserve ratio
D) an increase in the discount rate

13.

Answer the next question on the basis of the following information for a bond having no expiration date: bond
price = $1000; bond fixed annual interest payment = $100; the annual interest rate when bond was issued = 10
percent. If the price of this bond rises to $1100, the interest rate will:
A) fall to 9 percent. B) fall to 8 percent. C) rise to 11 percent. D) rise to 12 percent.

14.

Upon which of the following industries is a tight money policy likely to be most effective?
A) residential construction
C) clothing
B) furniture
D) food processing

15.

Monetary policy is expected to have its greatest impact on:
A) Xg.
B ) G.
C) C.

D) Ig.

16.

Which of the following is correct? When the Federal Reserve buys government securities from the public, the
money supply:
A) expands and commercial bank reserves decrease.
B) expands and commercial bank reserves increase.
C) contracts and commercial bank reserves increase.
D) contracts and commercial bank reserves decrease.

17.

Which of the following statements is true?
A) The Federal Reserve sets the Federal funds rate.
B) The Federal Reserve sets the target for the Federal funds rate, and then uses the reserve ratio to push
banks toward that target.
C) The Federal Reserve does not set the Federal funds rate, but it influences it through the use of open
market operations.
D) The Federal Reserve will set a higher target for the Federal funds rate if pursuing an expansionary
monetary policy.

18.

If the amount of money supplied exceeds the amount demanded, the:
A) demand-for-money curve will shift to the left.
B) money supply curve will shift to the right.
C) interest rate will rise.
D) interest rate will fall.

19.

If the Fed wants to raise the Federal funds rate, it should:
A) decrease the discount rate.
C) buy government securities.
B) decrease the reserve ratio.
D) sell government securities.

20.

Which would provide the most accurate description of events when monetary authorities increase the size of
commercial banks' excess reserves?
A. A fall in interest rates decreases the money supply, causing an increase in investment spending, output, and
employment
B. A rise in interest rates increases the money supply, causing a decrease in investment spending, output, and
employment
C. The money supply is decreased, which increases the interest rate, and causes investment spending, output, and
employment to decrease
D. The money supply is increased, which decreases the interest rate, and causes investment spending, output, and
employment to increase

ECO 121 (Macroeconomics)

Test 4(112713)

21.

Which of the following best describes what occurs when monetary authorities sell government securities?
A. There is a decrease in the size of commercial banks' excess reserves, the money supply increases, and interest
rates fall, thereby causing a decrease in investment spending and real GDP
B. There is a decrease in the size of commercial banks' excess reserves, the money supply decreases, and the
interest rates rise, thereby causing a decrease in investment spending and real GDP
C. There is a decrease in the size of commercial banks' excess reserves, the money supply decreases, and interest
rates rise, thereby causing an increase in investment spending and real GDP
D. There is an increase in the size of commercial bank reserves, the money supply increases, and interest rates fall,
thereby causing an increase in investment spending and real GDP

22.

Generally, the prime interest rate:
A) moves in the opposite direction as the Federal funds rate.
B) remains constant over long periods of time.
C) is highly inflexible downward.
D) moves in the same direction as the Federal funds rate.

23.

Assume the economy is operating at less than full employment. An easy money policy will cause interest rates to
________, which will ___________ investment spending.
A) increase; decrease
C) decrease; increase
B) decrease; decrease
D) increase; increase

24.

One of the strengths of monetary policy relative to fiscal policy is that monetary policy:
A) entails a larger spending income multiplier effect on real GDP.
B) can be implemented more quickly.
C) is subject to closer political scrutiny.
D) does not produce a net export effect.

25.

M
onetary policy is thought to be:
A) only effective in moving the economy out of a depression.
B) equally effective in moving the economy out of a depression as in controlling demand -pull inflation.
C) more effective in moving the economy out of a depression than in controlling demand -pull inflation.
D) more effective in controlling demand-pull inflation than in moving the economy out of a depression.

ECO 121 (Macroeconomics)

Test 4(112713)

For questions 26, 27 and 28, refer to the graphs below in which the numbers in parentheses near the AD1, AD2, and AD3
labels indicate the level of investment spending associated with each curve. All figures are in billions.

26.

If the money supply is MS0 and the goal of the monetary authorities is full -employment output Qf, they should:
A. increase the money supply from $80 to $100.
B. increase the money supply from $100 to $120.
C. maintain the money supply at $100.
D. decrease the money supply from $100 to $80.

27.

If aggregate demand is AD1 and the monetary authorities desire to increase it to AD2, they should:
A. increase the interest rate from 3 percent to 6 percent.
B. increase the money supply from $80 to $100.
C. decrease the money supply from $120 to $100.
D. decrease the interest rate from 9 percent to 3 percent.

28.

Which of the following would shift the money supply curve from MS3 to MS1?
A. a decrease in the discount rate
B. purchases of U.S. securities by the Fed in the open market
C. sales of U.S. securities by the Fed in the open market
D. a decrease in the reserve ratio

29.

If there is full employment, and a decline in aggregate demand occurs:
A) Keynesian analysis would predict a decline in prices and wages.
B) Keynesian analysis would predict a decline in real output and employment.
C) Classical analysis would predict a decline in real output and employment.
D) RET analysis would predict declines in both real GDP and the price level.

30.

According to monetarists:
A) the supply of money changes in response to changes in the levels of real output and prices.
B) an expansionary fiscal policy will lower interest rates and overstimulate the economy.
C) changes in the velocity of money are more important than changes in the money supply in causing the level of
economic activity to change.
D) changes in the money supply are the primary cause of changes in the price level.

ECO 121 (Macroeconomics)

Test 4 (112713)

31.

According to mainstream macroeconomists, U.S. macro instability has resulted from:
A. adherence by the Fed to a monetary rule.
B. investment "booms" and "busts" and, occasionally, adverse aggregate supply shocks.
C. government's attempts to balance its budget.
D. wide fluctuations in net exports.

32.

Monetarists believe the private economy is inherently:
A. unstable and the public sector should be small.
B. unstable and the public sector should be large.
C. stable, but that the public sector should be large.
D. stable and that the government sector should be small.

33.

The view that inappropriate monetary policy was the main reason for the depth of the Gr eat Depression in the
United States is most closely associated with:
A. monetarism.
C. the rational expectations theory.
B. the mainstream view.
D. the real-business-cycle theory.

34.

Rational expectations theory assumes that:
A. people behave rationally and that all product and resource prices are flexible both upward and downward.
B. firms pay above-market wages to elicit work effort.
C. markets fail to coordinate the actions of households and businesses.
D. markets are dominated by monopolistic firms.

35.

Most monetarists would say that:
A) the MV = PQ equation provides a better understanding of the macroeconomy than does the C +
Ig + Xn + G = GDP equation.
B) most changes in the price level are explainable by changes in the money sup ply.
C) the velocity of money is quite stable.
D) all of the above are true.

36.

Mainstream economists favor:
A) the use of discretionary monetary policy and fiscal policy.
B) a monetary rule.
C) a balance-budget amendment.
D) wage and price controls.

37.

The traditional monetary rule is the idea that:
A. the annual rate of increase in the money supply should be equal to the potential annual growth rate of real GDP.
B. the annual rate of increase in the money supply should be equal to the lo ng-term increase in the price level.
C. an expansionary fiscal policy should always be accompanied by an easy monetary policy.
D. monetary policy only affects the economy 6 to 9 months after the money supply is changed.

38.

The view that excessive growth of the money supply over long periods leads to inflation:
A. is accepted by the monetarists but not by mainstream macroeconomists.
B. is the main contribution of the rational expectations theory.
C. had been absorbed into the mainstream of macroeconomics.
D. is known as the monetary rule.

39.

Modern mainstream macroeconomists agree with the monetarists that:
A) the Fed should increase the money supply at a fixed annual rate.
B) velocity is highly stable.
C) "money matters" in the macroeconomy.
D) fiscal policy is largely ineffective.

40.

Which of the following ideas of the rational expectations theory has been absorbed into mainstream
macroeconomics?
A) the monetary rule
C) the monetary multiplier
B) the idea that "expectations are important"
D) the idea that " money doesn't matter "	

Finance MCQs

Question
	
1. You're figuring out the bid for a job that includes installing a device you've never installed before. To get
an accurate and competitive bid for this installation, you should
A. include the total cost of all tools needed to install it.
B. leave it out of the bid because you're not sure exactly what it will cost to do the installation.
C. assume it won't take more than the normal labor-unit so your bid won't be more than your competitor's.
D. try to guess at the time and expenses to install it based on your knowledge of similar tasks.
2. In a situation where conditions don't allow you to make a fixed-dollar bid, you should
A. make a shot-in-the-dark bid.
B. give an approximate bid based on cost per square foot.
C. match the lowest bid of your competitors.
D. give time and material pricing.
3. What percentage of the total material cost is considered an acceptable value for tools, such as ladders,
cords, and screw guns?
A. 5 percent
B. 2 percent
C. 4 percent
D. 3 percent
4. Which of the following should you consider when adjusting labor units for job conditions?
A. Anticipated staff strikes
B. Material cost fluctuations
C. Weather/temperature
D. Sales tax
5. Which of the following is not an advantage of estimating software?
A. An estimator can have increased confidence that the bid price is correct.
B. Software reduces overhead by allowing the estimator to bid more jobs in less time.
C. Software and a computer can do mathematical calculations quickly without errors.
D. An unskilled estimator can easily create an accurate bid price.
6. If your employees prefer to work second shift, they prefer to work from
A. 7 a.m. to 3 p.m.
B. 3 p.m. to 11 p.m.
C. 7 a.m. to 11 p.m.
D. 11 p.m. to 7 a.m.
7. What is the estimated labor cost for a job if the total adjusted estimated labor is 115 hours and the labor
rate per man-hour is $23.00?
A. $2,645.00
B. $2,530.00
C. $1,322.50
D. $138.00
8. What labor-unit adjustment should you make for ladder work at 18 feet?
A. 13%
B. 25%
C. 3%
D. 19%
9. Supervision represents _______ percent of the labor unit.
A. 15
B. 10
C. 5
D. 50
10. A/An _______ Worksheet contains pertinent job information, such as the job name, location, and
address, as well as the name and phone number for the business owner.
A. Plan Review
B. Estimate Record
C. Direct Job Expenses
D. Take-Off
11. The second step in determining your break-even cost is to transfer the _______ from the Price/Labor
Worksheets to the Estimate Summary Worksheet.
A. material cost
B. occupational fees
C. sales tax
D. labor burden
12. The act of pricing consists of looking up the cost for each material item and penciling it onto the
_______ Worksheet.
A. Price/Labor
B. Estimate Record
C. Direct Job Expenses
D. Take-Off
13. You might want to consider _______ to protect you against dramatic cost increases, such as those in
steel conduit and copper wire prices.
A. a utility charge
B. occupational fees
C. job insurance
D. a contingency clause
14. Which of the following does not need to be considered when deciding on the cost of a job?
A. Cost of small tools needed
B. Site distractions
C. Parking fees
D. Competitors' labor rates
15. What is the total travel time required for a 350-hour job that has 5 workers, assuming a travel time of
1.5 hour per worker per day and 7-hour work days?
A. 75 hours
B. 105 hours
C. 525 hours
D. 52.5 hours
16. After developing your bid, you need to create a proposal that states what you'll be responsible for and
what costs are included in the bid. Which of the following does not need to be included in the proposal?
A. The amount of your bid for the final cost of the project
B. Information about who will pay for the cost of the permit
C. The length of time the agreement will remain in effect
D. The analysis of the accuracy of your bid
17. What part of the bid would cover the cost of an administrative employee's pay?
A. Overhead
B. Miscellaneous labor
C. Utility expense
D. Profit
18. As you increase your job experience, the time needed to complete a particular job decreases. To
decrease your time in completing a specific job from 40 minutes to
30 minutes, you'll most likely have to repeat a job
A. 2 to 3 times.
B. 6 to 10 times.
C. 3 to 5 times.
D. 11 to 15 times.
19. How much must sales increase per year to cover the cost of a software estimating system based on a
cost of $3,000 with an expected life of 6 years and a gross profit margin of 25 percent?
A. $3,000
B. $2,000
C. $500
D. $18,000
20. Many labor-related tasks are considered when developing a labor-unit count for a job. A portion of the
labor-unit total includes
A. 50 percent for installation and layout.
B. 25 percent for material handling.
C. 75 percent for layout, material, and tool handling.
D. 60 percent for installation and material handling.
	

Law question data bank

Question
	
1205. ,70 

The December 31, 2011, balance sheet of the RST General Partnership reads as
follows.








 

 

 
 
 
 

 
Basis
 
 

 
FMV
 

 

 

 
Cash
 
 

 
$ 65,000
 
 

 
$ 65,000
 

 

 

 
Receivables
 
 

 
–0–
 
 

 
7,500
 

 

 

 
Capital and § 1231 assets
 
 

 

 55,000
 
 

 
 100,000
 

 

 

 
 Total
 
 

 
$120,000
 
 

 
$172,500
 

 

 

 
 
 
 

 
 
 
 

 
 
 

 

 

 
Roy, capital
 
 

 
$ 40,000
 
 

 
$ 57,500
 

 

 

 
Sue, capital
 
 

 
40,000
 
 

 
57,500
 

 

 

 
Ted, capital
 
 

 

 40,000
 
 

 

 57,500
 

 

 

 
 Total
 
 

 
$120,000
 
 

 
$172,500
 

 

 

 

 
 

 

 
 

 

 





The partners share equally in partnership capital, income, gain, loss,
deduction and credit. Ted’s adjusted basis for his partnership interest is
$40,000. On December 31, 2011, he retires from the partnership, receiving a
$60,000 cash payment in liquidation of his interest. The partnership agreement
states that $2,500 of the payment is for goodwill. Which of the following
statements about this distribution is false?





a.
If capital is NOT a material income-producing factor to the partnership, the §
736(a) payment will be $2,500.

b. If capital IS a material
income-producing factor, the entire $60,000 payment will be a § 736(b) property
payment.

c. The payment for Ted’s share of
goodwill will create $2,500 of ordinary income to him.

d. The partnership can deduct any amount
that is a § 736(a) payment because it will be determined without regard to
partnership profits.

e. All statements are false.







1206. ,71 

Which of the following statements is true
regarding the sale of a partnership interest?





a.
The selling partner’s share of partnership liabilities is disregarded in
determining the gain or loss on the sale of a partnership interest.

b. For purposes of computing the selling
partner’s gain or loss, the partner’s basis in the partnership interest is
determined as of the last day of the partnership tax year ending before the
year in which the interest is sold.

c. No reporting is required if a partner
sells an interest in a partnership.

d. The selling partner could be required
to report both ordinary income and a capital loss on sale of the partnership
interest.

e. The partner’s share of partnership
“hot assets” is disregarded in determining the character of the partner’s gain
on the sale of the partnership interest.







1207. ,72 

Nicholas is a 25% owner in the DDBN LLC (a calendar year entity). At the end of
the last tax year, Nicholas’s basis in his interest was $50,000, including his
$20,000 share of LLC liabilities. On July 1 of the current tax year, Nicholas
sells his LLC interest to Anna for $80,000 cash. In addition, Anna assumes
Nicholas’s share of LLC liabilities, which, at that date, was $15,000. During
the current tax year, DDBN’s taxable income is $120,000 (earned evenly during
the year). Nicholas’s share of the LLC’s unrealized receivables is valued at
$6,000 ($0 basis). At the sale date, what is Nicholas’s basis in his LLC
interest, how much gain or loss must he recognize, and what is the character of
the gain or loss?





a.
$45,000 basis; $6,000 ordinary income; $44,000 capital gain.

b. $60,000 basis; $6,000 ordinary
income; $29,000 capital gain.

c. $60,000 basis; $35,000 capital gain.

d. $75,000 basis; $0 ordinary income;
$20,000 capital gain.

e. $75,000 basis; $6,000 ordinary
income; $14,000 capital gain.







1208. ,73 

James, Justin, and Joseph are equal partners in the JJJ Partnership. The
partnership balance sheet reads as follows on December 31 of the current year:








 

 

 
 
 
 

 
Basis
 
 

 
FMV
 

 

 

 
Cash
 
 

 
$ 60,000
 
 

 
$ 60,000
 

 

 

 
Unrealized receivables
 
 

 
–0–
 
 

 
45,000
 

 

 

 
Land
 
 

 

 75,000
 
 

 

 90,000
 

 

 

 
 Total
 
 

 
$135,000
 
 

 
$195,000
 

 

 

 
 
 
 

 
 
 
 

 
 
 

 

 

 
James, capital
 
 

 
$ 45,000
 
 

 
$ 65,000
 

 

 

 
Justin, capital
 
 

 
45,000
 
 

 
65,000
 

 

 

 
Joseph, capital
 
 

 

 45,000
 
 

 

 65,000
 

 

 

 
 Total
 
 

 
$135,000
 
 

 
$195,000
 

 

 

 

 
 

 

 
 

 

 





Partner Joseph has an adjusted basis of $45,000 for his partnership interest.
If Joseph sells his entire partnership interest to new partner Kayla for
$65,000 cash, how much capital gain and ordinary income must Joseph recognize
from the sale?





a.
$20,000 ordinary income.

b. $20,000 capital gain.

c. $15,000 ordinary income; $5,000
capital gain.

d. $45,000 ordinary income; $25,000
capital loss.

e. None of the above.







1209. ,74 

Tina sells her 1/3 interest in the TAX Partnership to James for $60,000 cash
plus the assumption of Tina’s $4,000 share of partnership debt. On the sale
date, the partnership balance sheet and agreed-upon fair market values were as
follows:






 

 

 
 
 
 

 
Basis
 
 

 
FMV
 

 

 

 
Cash
 
 

 
$30,000
 
 

 
$ 30,000
 

 

 

 
Receivables
 
 

 
–0–
 
 

 
42,000
 

 

 

 
Land
 
 

 
 60,000
 
 

 
 120,000
 

 

 

 
 Total
 
 

 
$90,000
 
 

 
$192,000
 

 

 

 
 
 
 

 
 
 
 

 
 
 

 

 

 
Notes payable
 
 

 
$12,000
 
 

 
$ 12,000
 

 

 

 
Tina, capital
 
 

 
26,000
 
 

 
60,000
 

 

 

 
Ariel, capital
 
 

 
 26,000
 
 

 
 60,000
 

 

 

 
Xena, capital
 
 

 
 26,000
 
 

 

 60,000
 

 

 

 
 Total
 
 

 
$90,000
 
 

 
$192,000
 

 

 

 

 
 

 

 
 

 

 





As a result of the sale, Tina recognizes:





a.
No gain or loss.

b. $34,000 capital gain.

c. $38,000 capital gain.

d. $14,000 ordinary income and $20,000
capital gain.

e. $14,000 capital gain and $24,000
ordinary income.







1210. ,75 

Which of the following statements about the transfer of a partnership interest
is not true?





a.
The seller’s adjusted basis for the partnership interest is increased by the
seller’s share of undistributed partnership income (or reduced by partnership
loss) for the portion of the partnership’s taxable year ending on the date of
the sale.

b. The partnership taxable year
generally does not close with respect to a partner who transfers a partnership
interest at death.

c. The amount realized on the sale of a
partnership interest is the sum of any money and the fair market value of any
property received for the interest, plus the selling partner’s share of
partnership liabilities under § 752.

d. With respect to a transfer of a
partnership interest by gift, all partnership gain, loss, credit, etc., items
are allocated between the donor and the donee.

e. All of the above are true statements.







1211. ,76 

Brittany, Jennifer, and Daniel are equal partners in the BJD Partnership. The
partnership balance sheet reads as follows on December 31 of the current year.








 

 

 
 
 
 

 
Basis
 
 

 
FMV
 

 

 

 
Cash
 
 

 
$ 75,000
 
 

 
$ 75,000
 

 

 

 
Unrealized receivables
 
 

 
–0–
 
 

 
51,000
 

 

 

 
Land
 
 

 

 45,000
 
 

 

 63,000
 

 

 

 
 Total
 
 

 
$120,000
 
 

 
$189,000
 

 

 

 
 
 
 

 
 
 
 

 
 
 

 

 

 
Brittany, capital
 
 

 
$ 40,000
 
 

 
$ 63,000
 

 

 

 
Jennifer, capital
 
 

 
40,000
 
 

 
63,000
 

 

 

 
Daniel, capital
 
 

 

 40,000
 
 

 

 63,000
 

 

 

 
 Total
 
 

 
$120,000
 
 

 
$189,000
 

 

 

 

 
 

 

 
 

 

 





Partner Daniel has an adjusted basis of $40,000 for his partnership interest.
If Daniel sells his entire partnership interest to new partner Amber for
$73,000 cash, how much can the partnership step-up the basis of Amber’s share
of partnership assets under §§ 754 and 743(b)?





a.
$6,000.

b. $18,000.

c. $23,000.

d. $33,000.

e. None of the above.







1212. ,77 

Partner Jordan received a distribution of $80,000 cash from the JKL Partnership
in complete liquidation of his partnership interest. If Jordan’s outside basis
immediately before the distribution was $90,000, and if the partnership has
made (and not revoked) a § 754 election in a prior year, which of the following
statements is true? (Assume the partnership owns no “hot assets.”)





a.
The partnership will step-down the basis of its assets by $10,000.

b. The partnership will step-up the
basis of its assets by $10,000.

c. Jordan will recognize $10,000 of
ordinary loss on the distribution.

d. Jordan will recognize a $10,000
capital loss on the distribution.

e. Both a. and d. are true.







1213. ,78 

The RST Partnership makes a proportionate distribution of its assets to Ryan,
in complete liquidation of his partnership interest. The distribution consists
of $40,000 in cash and capital assets with a basis to the partnership of
$30,000 and a fair market value of $48,000. None of the payment is for
partnership goodwill. At the time of the distribution, Ryan’s partnership basis
is $45,000 and the partnership has no liabilities and no “hot assets.” If the
partnership makes an optional basis adjustment election on a timely filed
return, it recognizes:





a.
Capital gain of $25,000 and increases the basis of its remaining assets by
$12,500.

b. Capital loss of $5,000 and decreases
the basis of its remaining assets by $5,000.

c. No gain or loss and increases the
basis of its remaining assets by $25,000.

d. No gain or loss and decreases the
basis of its remaining assets by $58,000.

e. None of the above.







1214. ,79 

Cynthia sells her 1/3 interest in the CAR Partnership to Brandon for $80,000
cash. Brandon also assumed Cynthia’s 1/3 share of partnership liabilities. On
the date of sale, the partnership balance sheet and agreed-upon fair market
values were as follows:






 

 

 
 
 
 

 
Basis
 
 

 
FMV
 

 

 

 
Cash
 
 

 
$ 55,000
 
 

 
$ 55,000
 

 

 

 
Receivables
 
 

 
–0–
 
 

 
60,000
 

 

 

 
Land
 
 

 

 50,000
 
 

 
 125,000
 

 

 

 
 Total
 
 

 
$105,000
 
 

 
$240,000
 

 

 

 
 
 
 

 
 
 
 

 
 
 

 

 

 
Recourse liabilities
 
 

 
$ 15,000
 
 

 
$ 15,000
 

 

 

 
Cynthia, capital
 
 

 
30,000
 
 

 
75,000
 

 

 

 
Arnold, capital
 
 

 
 30,000
 
 

 
 75,000
 

 

 

 
Ralph, capital
 
 

 

 30,000
 
 

 

 75,000
 

 

 

 
 Total
 
 

 
$105,000
 
 

 
$240,000
 

 

 

 

 
 

 

 
 

 

 





If the partnership has a § 754 election in effect, the total “step-up” in basis
that Brandon can take in the partnership assets is:





a.
$85,000.

b. $55,000.

c. $50,000.

d. $45,000.

e. $20,000.







1215. ,80 

A partnership may make an optional election to adjust the basis of its property
on a distribution to a partner which liquidates the partner’s entire interest
in the partnership. If such an election is in effect, the partnership:





a.
Generally applies the election to transfers that take place at any later date,
unless the election is revoked.

b. Only adjusts the basis of its
property for differences in basis between that of the partnership and a
distributee partner if a transferor-transferee situation arises within two
years after the distribution.

c. Increases the basis of similar
retained assets when a distributee partner takes a basis which is greater than
the partnership’s basis in these assets, assuming the partnership does not have
any receivables or inventory.

d. Decreases the basis of similar
retained assets when a distributee partner takes a basis for the distributed
assets which is less than the partnership’s basis in these assets.

e. All of the above.







1216. ,81 

Which of the following transactions will not
result in termination of a partnership for Federal tax purposes?





a.
The partnership is incorporated.

b. A 70% interest in partnership capital
and profits is sold to a third party purchaser.

c. Cash is distributed in liquidation of
a 60% partner’s interest in a five-partner partnership.

d. A 40% interest in partnership capital
and profits is sold to the other partner in a two-partner partnership.

e. None of the above.







1217. ,82 

On December 31 of last year, Rachel gave her daughter, Courtney, a gift of a
25% interest in a partnership in which capital is a material income-producing
factor. For the current calendar year, the partnership’s ordinary income was
$200,000. Rachel and Courtney were the only partners, and there were no
guaranteed payments. Rachel’s services performed for the partnership were worth
$40,000, and Courtney has never performed any services. What is Courtney’s
distributive share of partnership income for the current year?





a.
$100,000.

b. $80,000.

c. $50,000.

d. $40,000.

e. None of the above.







1218. ,83 

Which of the following statements, if any, about an LLC is false?





a.
An LLC is usually taxed like a partnership.

b. “Members” of an LLC generally have
limited personal liability for debts of the LLC, except for the managing member
who has unlimited liability for LLC debts.

c. “Members” of an LLC can participate
in management of the LLC unless the member agrees not to participate.

d. An LLC can specially allocate income
items, as long as the substantial economic effect rules of § 704(b) are
followed.

e. None of the above statements is
false.







1219. ,84 

Which of the following is nottrue
regarding a limited liability company?





a.
The Code does not specifically provide for the taxation of limited liability
companies. Therefore, an LLC that is taxed as a partnership must rely primarily
on the tax provisions that apply to partnerships.

b. An LLC is effectively treated as a
limited partnership with no limited partners.

c. An LLC offers several advantages over
the S corporation, including not making the managing member of the LLC liable
for self-employment taxes on his or her share of LLC income.

d. In general, an LLC member is not
personally liable for LLC debts.

e. Any member of an LLC can participate
in the management of the LLC if the operating agreement so permits.







1220. ,85 

Match the following statements with the
best match from the choices below. Note: Choice L may be used more than once.Nonliquidating
distributionRecaptured receivablesInventoryUnrealized receivableDepreciation
recaptureDisproportionate distributionLiquidating distributionNonqualified
distributionOrdering rulesHot assetsSubstantially appreciated inventoryOptional
adjustment electionDoes not eliminate the partner’s interest in the
partnership. No correct match provided. Any partnership assets other than cash,
capital, or § 1231 assets. Cash basis accounts receivable, for example. An
unrealized receivable. Changes the partner’s or the partnership’s ordinary
income potential. Terminates the partner’s interest in the partnership. No
correct match provided. Cash, then inventory and unrealized receivables, then
other assets. Ordinary income-producing items. Fair market value exceeds 120%
of basis. Inside basis of partnership property can be adjusted to reflect the
purchase price paid. A distribution of all partnership hot assets.





 [a] 1. Nonliquidating distribution

 [b] 2. Recaptured receivables

 [c] 3. Inventory

 [d] 4. Unrealized receivable

 [e] 5. Depreciation recapture

 [f] 6. Disproportionate
distribution

 [g] 7. Liquidating
distribution

 [h] 8. Nonqualified
distribution

 [i] 9. Ordering rules

 [j] 10. Hot assets

 [k] 11. Substantially
appreciated inventory

 [l] 12. Optional adjustment
election





 

with the best match from the choices
below. Note: Choice M may be used more than once.Unstated goodwillStated goodwillCapital
intensive partnershipService providing partnershipSales price of partnership
interestLimited partnerGeneral partnerSection 754Mandatory step downStep upStep
downLimited liability partnershipTechnical terminationMay be a § 736(a)
payment. A § 736(b) payment. Liquidation payments from this type of partnership
are always § 736(b) payments. Liquidation payments from this type of
partnership may include § 736(a) payments. Includes the partner’s share of
partnership liabilities. No correct match is provided. May receive § 736(a)
payments. Adjustment designed to bring inside and outside bases into balance.
Partnership asset basis is at least $250,000 > FMV. Could arise if a
distribution results in gain to the distributee partner. Could result from sale
of a partnership interest for less than the partner’s share of the inside basis
of assets. No correct match is provided. Sale of more than 50% in less than 12
months. Would result if the partner contributes appreciated property to the
partnership.





 [a] 1. Unstated goodwill

 [b] 2. Stated goodwill

 [c] 3. Capital intensive
partnership

 [d] 4. Service providing
partnership

 [e] 5. Sales price of
partnership interest

 [f] 6. Limited partner

 [g] 7. General partner

 [h] 8. Section 754

 [i] 9. Mandatory step down

 [j] 10. Step up

 [k] 11. Step down

 [l] 12. Limited liability
partnership

 [m] 13. Technical termination





 

1222. ,87 

Match the following independent
distribution payments in liquidation of a partner’s interest in an ongoing
partnership with the statements below.Payment to a limited partner for $10,000 of goodwill, where goodwill is not provided for in the partnership
agreement.Payment to a general
partner for $10,000 of goodwill, where goodwill is provided for in the partnership agreement, and the partnership
derives most of its income from services.Payment of $25,000 cash for a
partner’s share of substantially appreciated inventory.Payment of $60,000 cash
for a partner’s share of unrealized receivables where the partner is a general
partner, and most of the partnership’s income is derived from services.Payment
of $60,000 cash for a partner’s share of unrealized receivables where the
partner is a limited partner, and most of the partnership’s income is derived from
services.Payment of an annuity to a retiring general partner in a service
oriented partnership of 5% of partnership profits each year for the five years
following the partner’s retirement.Payment of $100,000 cash, representing the
partner’s share of the value of partnership equipment which has a potential
depreciation recapture of $25,000.A payment for the partner’s share of
partnership property under § 736(b). A payment for the partner’s share of
partnership property under § 736(b). A payment for the partner’s share of
partnership property under § 736(b). A payment for the partner’s share of
partnership income under § 736(a). A payment for the partner’s share of
partnership property under § 736(b). A payment for the partner’s share of
partnership income under § 736(a). A payment for the partner’s share of
partnership property under § 736(b). The payment includes both a § 736(a) and a
§ 736(b) element. 





 [a] 1. Payment to a limited partner for $10,000 of goodwill,
where goodwill is not provided for in
the partnership agreement.

 [b] 2. Payment to a general partner for $10,000 of goodwill,
where goodwill is provided for in the
partnership agreement, and the partnership derives most of its income from
services.

 [c] 3. Payment of $25,000 cash
for a partner’s share of substantially appreciated inventory.

 [d] 4. Payment of $60,000 cash
for a partner’s share of unrealized receivables where the partner is a general
partner, and most of the partnership’s income is derived from services.

 [e] 5. Payment of $60,000 cash
for a partner’s share of unrealized receivables where the partner is a limited
partner, and most of the partnership’s income is derived from services.

 [f] 6. Payment of an annuity
to a retiring general partner in a service oriented partnership of 5% of
partnership profits each year for the five years following the partner’s
retirement.

 [g] 7. Payment of $100,000
cash, representing the partner’s share of the value of partnership equipment
which has a potential depreciation recapture of $25,000.





 

	

Ramsey Company issued_Bonds Payable

Question
	

On the first day of
its fiscal year, Ramsey Company issued $35,000,000 of 10-year, 9% bonds to
finance its operations. Interest is payable semiannually. The bonds were issued
at a market (effective) interest rate of 11%, resulting in Ramsey Company receiving
cash of $30, 817,399. The company uses the interest method.

a. Journalize the
entries to record the following:

1. Sale of the
bonds.

2. Prepare an
amortization table through December 31, 2014(4 interest periods for this bond
issue

3. First semiannual
interest payment, including amortization of discount. Round to the nearest
dollar.

4. Second
semiannual interest payment, including amortization of discount. Round to the
nearest dollar.

5. compute the
amount of the bond interest expense for the first year.

(B) Yates
Corporation has the following stockholders' equity accounts on Jan 1, 2012:

Common Stock, $10
par value: $1,500,000

Paid-in Capital in
Excess of Par: 200,000

Retained Earnings:
500,000

Total Stockholders'
Equity: $2,200,000

The company uses
the cost method to account for treasury stock transactions. During 2012, the
following treasury stock transactions occurred:

April 1 Purchased
10,000 shares at $18 per share.

August 1 Sold 4,000
shares at $22 per share.

October 1 Sold
4,000 shares at $15 per share

Instructions:

(A) Journalize the
treasury stock transactions for 2012.

(B) Prepare the
Stockholders' Equity section of the balance sheet for Yates Corporation at
December 31, 2012. Assume net income was $110,000 for 2012.

C. KT Corporation
wholesales auto parts to auto manufacturers. On march 1, 2012, Kt corporation
issued $17,500,000 of five year, 12% bonds at market (effective) interest rate
of 10%, receiving cash of $18,851,252. interest is payable semiannually. KT
corporation's fiscal years begins on March 1. The company uses the interest
method.

a.Journalize the
entries to record the following:

1. sale of the
bonds.

2.prepare an
amortization table through 3 interest periods for this bond issue.

3. First semiannual
interest payment, including amortization of discount. Round to nearest dollar.

4.Second semiannual
interest payment, including amortization of discount. Round to nearest dollar.

5.Compute the
amount of the bond interest expense for the first year.
	

Security and Crime Prevention

Question
	
The following link will help you in your writing assignment for this unit: 
Research "Ponzi" scams. In a minimum of 250 words, double-spaced paper, explain what constitutes a "Ponzi" scam. How did the scam gets its name, and how can you prevent a scam like this from occurring?
	

FIU BUL 6810 quiz 4

Question
	
Question 1
In which of the following cases did the U.S. Supreme Court uphold Title II of the Civil Rights Act of 1964 prohibiting discrimination or segregation on the grounds of race, color, religion or national origin in any inn, hotel, motel, or other establishment of more than five rooms that provides lodging to transient guests?

Gibbons v. Ogden

Reno v. Condon

Heart of Atlanta Motel, Inc. v. United States

Sweet Dreams Hotel v. United States and State Department
5 points 
Question 2
When equal protection is concerned, classifications based on gender are subject to a[n] ____________ test.

rational basis

strict scrutiny

substantially related

gender-based
5 points 
Question 3
Wally, a law school student, is an intern for Rebecca, an assistant professor who is attempting to get tenure at Imperial Law School in part by getting an article published on the right to a jury trial. Rebecca asks Wally to explain to her the right to a jury trial under the U. S. Constitution as applied to jury trials involving state law. Which of the following sections of the U.S. Constitution should Wally reference when discussing the matter of the right to a jury trial with Rebecca?

The First Amendment

The Fifth Amendment

The Seventh Amendment

Article One, Section Eight
5 points 
Question 4
Which of the following was the result at the U.S. Supreme Court level in the case of Board of Education of Independent School District No. 92 of Pottawatomie County v. Earls, the case in the text involving whether a school system requiring student-athletes to take a drug test without any suspicion of drug use violates the Fourth Amendment?

That individualized suspicion is not a consideration in determining whether a search is reasonable and that the searches at issue were, therefore, constitutional.

That the searches were unconstitutional because no individual suspicion was present.

That the searches were unconstitutional because minors were involved regardless of whether or not individual suspicion was present.

That individualized suspicion is not always required and that the searches in the case were constitutional.
5 points 
Question 5
A law enacted to punish a specific individual would be an example of a(n)

Bill of attainder

Ex post facto law

Proscriptive law

Per se law
5 points 
Question 6
The Fifth Amendment does not contain the

Self incrimination provision

Grand jury requirement

Jury trial requirement

Double jeopardy prohibition
5 points 
Question 7
The general power retained by the states to protect the health, safety, welfare, and morals of state residents is often referred to as ______ power.

police

regulatory

protective

community
5 points 
Question 8
Polly owns a restaurant seating 150 people. She just learns of a newly enacted regulation in her city requiring that larger restaurants seating over 100 people be inspected by the health department on a monthly basis whereas smaller restaurants would only be inspected twice per year. She also learned that Frank, the local mayor, who recently went through a nasty divorce, was able to get passed a law requiring that restaurants owned by women pay a higher fee to receive a business license than those owned by men. Polly is angry about both laws and wants to take action to have them struck down. Which of the following would be the city's best argument that the law pertaining to more frequent inspections of larger restaurants should be upheld?

That under the rational basis test, inspections by the health department are needed in order to guard against food-borne illnesses.

That under the strict scrutiny test, larger restaurants are important to the tax basis of the community and should, therefore, be inspected more often to guard against illness and resulting lawsuits that could impact the ability of the restaurants to remain in business.

That under the substantially related test, owners of larger restaurants should expect to be inspected more often because products used in interstate commerce are invariably involved.

That under the common good test, large restaurants should be inspected more often in order to protect the community's tax base.
5 points 
Question 9
Which of the following was the result at the U.S. Supreme Court level in Brown v. Entertainment Merchants Association, the case in the text involving the issue of whether the state of California could prohibit the sale or rental of graphically violent video games to minors?

That the law was valid because the video games did not qualify for First Amendment protection.

That the law was valid because minors are not entitled to First Amendment protection.

That the law was invalid because the state could not establish a rational basis for it.

That the law was invalid because the state could not satisfy the strict scrutiny test applied.
5 points 
Question 10
In order to hold a media defendant liable for statements made about a public figure, _____ must be established on the part of the media defendant.

actual malice

negligence

only inaccuracy

intent to inflict monetary harm
5 points 
Question 11
Wally, a law school student, is an intern for Rebecca, an assistant professor who is attempting to get tenure at Imperial Law School in part by getting an article published on the right to a jury trial. Rebecca asks Wally to explain to her the right to a jury trial under the U. S. Constitution as applied to jury trials involving state law. What should Wally tell Rebecca regarding whether the U.S. Constitution requires that jury trials be held in state court civil cases?

That there is no federal constitutional requirement that jury trials be held in state court civil cases.

That the federal constitution requires that jury trials be held in state court civil cases only if the controversy involved exceeds the amount of $75,000.

That the federal constitution requires that jury trials be held in state court civil cases only if the controversy involved exceeds the amount of $20.

That in all state court civil cases the federal constitution gives any party the right to demand a jury trial.
5 points 
Question 12
Which of the following is not one of the three branches of government?

The legislative branch

The judicial branch

The representative branch

The executive branch
5 points 
Question 13
Which of the following was the result at the U.S. Supreme Court level in Citizens United v. Federal Election Commission regarding the constitutionality of the federal law providing that televised electioneering communications funded by anyone other than a candidate must include a disclaimer setting forth identifying information as to sponsorship?

That the law was unconstitutional only if a corporate entity, not an individual, sponsored the communication.

That the law was unconstitutional only if an individual, not a corporate entity, sponsored the communication.

That the law was unconstitutional in that it involved small expenditures as well as larger ones.

That the law was constitutional.
5 points 
Question 14
The _________ Amendment provides that no state shall "deprive any person of life, liberty, or property, without due process of law."

Seventh

Tenth

Eleventh

Fourteenth
5 points 
Question 15
In what year did the U.S. Constitution become effective?

1776

1789

1774

1790
5 points 
Question 16
The _____test is applied to determine if laws impacting speech violate the U.S. Constitution.

incitement of violence

Brandenburg v. Ohio

espionage and sedition

clear and present danger
5 points 
Question 17
The President has the power to make treaties

with the advice and consent of the House of Representatives.

with the advice and consent of the Senate.

with the advice and consent of both the House of Representatives and the Senate.

without the advice and consent of either the House of Representatives or the Senate.
5 points 
Question 18
Even when Congress has taken no action in regard to a matter, the _____ or ______Commerce Clause may impose restrictions on state action.

Dormant or negative

Dormant or positive

Relative or positive

Relative or negative
5 points 
Question 19
The division of power among the executive, legislative and judicial branches of government is typically referred to as

Federalism

Judicial review

Separation of powers

The Supremacy clause
5 points 
Question 20
Congress can override a President's veto by a _________ vote of both the House of Representatives and the Senate.

majority

two-thirds

three-quarters

unanimous
	

Gb550 unit 5 assignment

Question
	
Problem (9-10)The earnings,
dividends, and stock price of Shelby Inc. are expected to grow at 7% per year
in the future. Shelby's common stock sells for$23 per share, its last dividend
was $2.00, and the company will pay a dividend of$2.14 at the end of the
current year.





a.
a. Using the discounted cash flow approach, what is its cost
of equity?

a.
If the firm's beta is 1.6,
the risk-free rate is 9%, and the expected return on the market is 13%, then
what would be the firm's cost of equity based on the CAPM approach? 

c.
c. If the firm's bonds earn a return of 12 %, then what would be your estimate
of rs using the over-own-bond-yield-plus-judgmental-risk-premium
approach? (Hint: Use the midpoint of the risk premium range.)

d. On
the basis of the results of parts a through c, what would be your estimate of
Shelby's cost of equity?

Problem
(10-1) a project has an initial cost of $40,000 expected net cash inflows of
$90,00 per year for 7 years, and a cost of capital of 11%. What is the
project's NPV? (hint: Begin by constructing a time line).

(10-2)
Refer to problem 10-1. What is the project’s IRR?

(10-3)
Refer to problem 10-1. What is the project’s MIRR?

(10-4)
Refer to problem 10-1. What is the project’s PI?

(10-5) Refer to problem 10-1. What is the
project’s payback period?

(10-6) Refer to problem 10-1. What is the
project’s discounted payback period?

(10-7)
Your division is considering two investment projects, each of which requires an
up-front expenditure of $15 million. You estimate that the investments will
produce the following net cash flows:

Year….Project A…………. Project B 

1……... $5,000,000……….. $20,000,000 

2……... $10,000,000……... $10,000,000 

3……... $20,000,000……... $6,000,000 





a. What are the two projects’ net present values, assuming the cost of capital
is 5%, 10%, and 15%?


b.
what are the two projects’ IRR at these same costs of capital?


	

MHR 6551 Training nad Development unit 7 and 8

Question
	
Utility analysis is a
Answer measure of learning.
 method of estimating overall value of training based on the trainees change in behavior.
 simplified method of cost/benefit analysis.
 a cost savings analysis.

Question 9

What are the outcome levels of evaluation identified in the text?
Answer Proactive and reactive
 Cost benefit and cost effectiveness
 Reaction, learning, behavior, and organizational results
 Utility, value, and evaluative

Question 10

Which of the following times is best for providing the opportunity to complete a reaction questionnaire?
Answer During training (after each segment)
 Immediately following training
 One or two months after training
 Both A or B depending on what information you are after
 A, B, or C depending on what information you are after

And these 10 from unit 8:

The "quid pro quo" type of sexual harassment involves
Answer using profanity in front of the opposite sex.
 unwanted touching by another employee.
 an offer of some job perks by a supervisor in exchange for sexual favors
 both A & B.
 all of the above.

Question 2

Which of the following statements about literacy is true?
Answer About five percent of the North American workforce is functionally illiterate.
 The main reason that employers need to upgrade new employees in literacy skills is that most new employees do not finish high school.
 In the training of literacy skills it is always best to use an outside consultant so employees will not feel embarrassed.
 Graduates from high school often require remedial skills training

Question 3

Providing the basic literacy skills training
Answer Is necessary before more complex training is provided but itself it has not financial impact
 Has a positive influence on safety
 Results in a large drop in absenteeism
 Has no impact on error rates

Question 4

Which of the following statements is true?
Answer The turnover of women in salaried jobs is about four times that of men.
 The turnover of women is double that of men.
 In the SBI case, it was clear to George Schaffer that Ms. Conner was not one of the best of the new hires.
 Openness to dissimilarity is a concept that suggests we are all highly likely to rate those who are dissimilar to us lower than those who are not.

Question 5

Onboarding is a term that means
Answer Taking on more responsibility
 Buying into the corporate culture of an organization
 You have been selected for the job
 None of the above.

Question 6

Some of the issues an orientation should cover are
Answer your career path for the first 10 years.
 production expectations after one year in the job.
 policies and procedures the department has in place.
 both A & B.
 all of the above.

Question 7

For the executive job rotation means
Answer working in different departments of the organization
 going to a subsidiary supplier for a while
 being coached
 it does not take place; job rotation is for managers and below

Question 8

To understand a manager's development needs, you must first understand _____.
Answer the strategic direction of the organization
 the technology of the manager's unit
 the manager's unit structure in relation to the rest of the organization
 both B& C
 all of the above

Question 9

Advantages of teamwork include
Answer increased productivity.
 improved job satisfaction.
 lower absenteeism.
 both A & B.
 all of the above.

Question 10

In developing literacy training, it is important to always
Answer Use a TNA
 Ensure confidentiality
 Use internal resources
 Use the term "basic skills training"
 Both A and B



		    
			

		
  
 
	

Question_MJ12E_7Dec_3rd

Question
	61. In plain language an “expediting charge” is really
a. a legal gift.
b. a bribe.
c. a courtesy.
d. a benefit.
62. The Foreign Corrupt Practices Act (FCPA) prohibits
a. U.S. firms from engaging in corrupt practices in foreign countries.
b. foreign firms from engaging in corrupt practices in the U.S.
c. U.S. firms from doing business with foreign firms which engage in corrupt practices.
d. U.S. firms from engaging in practices which are corrupt under the laws of the countries in
which they are operating.
63. A not-for-profit scientific organization wishes to build a fisheries research station in a remote part of a
developing nation. In order to receive a construction permit from the local government, the scientific
organization had to agree to build an elementary school, a medical clinic, free housing for all workers
and to provide SUVs for the use of local officials. This is
a. a clear example of a violation of the Foreign Corrupt Practices Act.
b. an example of an ethical dilemma in deciding whether this action would be bribery or a
benevolent act by the U.S. organization.
c. an instance of the corrupting influence of U.S. organizations on developing countries.
d. an acceptable practice because it is legal in this nation, even though it is not legal in the
U.S.
64. All of the following are aspects of UPS’s corporate integrity program EXCEPT
a. a zero-tolerance policy regarding ethical lapses.
b. a detailed code-of-conduct manual.
c. annual ethics training.
d. a hotline for confidential calls on ethical problems.
65. Which of the following statements is TRUE?
a. The HR function in the organization is largely insulated from unethical behaviors.
b. The HR department is largely responsible for the unethical behaviors of employees in the
organization.
c. HR management is the voice of organizational ethics.
d. HR management must focus on clearly illegal behaviors within the firm and leave ethics
up to the conscience of each individual manager.
66. As Director of HR, you are designing an ethics program for your organization. You plan to develop a
written code of ethics, training for all organizational members, and means for organizational members
to obtain advice on ethical situations. What critical element is missing from your plan?
a. systems for confidential reporting of misconduct.
b. a discipline system for offenders against the code of ethics.
c. means for employees to blow the whistle on organizational wrongdoing to governmental
agencies.
d. ensuring that the organization’s code of ethics is not more restrictive than the relevant
laws.
67. In organizations, in order to decide whether certain behavior is ethical or not, a person must answer all
the following questions EXCEPT
a. Does this behavior conform to mainstream political standards?
b. Does this behavior meet all applicable laws, regulations, and government codes?
c. Does this behavior meet organizational standards?
d. Does this behavior meet professional standards?
68. Ethics deals with
a. what ought to be done.
b. what is required by law.
c. religious values.
d. standard practices and procedures.
69. Whether employees and managers of an organization behave ethically is fundamentally a function of
a. professional codes of ethics.
b. the relevant laws and legal guidelines applying to the organization and its industry.
c. whether the organization has a code of ethics.
d. the organization’s culture.
70. The Sarbanes-Oxley Act has had all of the following effects on HR EXCEPT
a. HR vendors must prove that they are in compliance with the act.
b. HR has had to staff the compliance verification effort involved with the act.
c. HR has to check time, attendance, and payroll more closely.
d. HR exempt-level professionals must have professional certification.
71. The position of vice-president of HR is open in a large paper-products manufacturing company. Two
individuals are being considered, both from the internal HR function at the firm. The selection
committee wants the new vice-president to be a strategic contributor to the firm. All of the following
competencies are highly desirable EXCEPT
a. that the candidate understands the paper-products business in all aspects.
b. that the candidate be a highly detail-oriented person.
c. that the candidate have personal and professional credibility.
d. that the candidate understand the long-term implications of HR issues.
72. Pauline is an employee of a large city. She is the lead negotiator for contracts between the city
government and the police and firefighters’ unions. Pauline is an HR
a. specialist.
b. technologist.
c. generalist.
d. interventionist.
73. The most common area for HR specialization is
a. EEO compliance.
b. labor/management relations.
c. benefits.
d. HR information systems.
74. The largest professional organization for HR generalists is
a. the International Personnel Management Association (IPMA).
b. the American Society for Training and Development (ASTD).
c. the Human Resource Certification Institute (HRCI).
d. the Society for Human Resource Management (SHRM).
75. Emil is the assistant HR manager at a commercial construction company. Emil handles almost every
aspect of human resources at the company, from employee questions about benefits to holding exit
interviews. Emil is an HR
a. generalist.
b. specialist.
c. technologist.
d. unit manager.
76. The ____ sponsors the most well-known certification program for HR generalists.
a. Human Resource Certification Institute
b. International Personnel Management Association
c. World at Work Association
d. American Society for Training and Development
77. You are the director of HR for a medium-sized firm. You are looking to hire a benefits specialist. You
would prefer the individual to be certified in this field. Consequently, you will check applicant
resumés for these initials
a. OHST.
b. CEBS
c. CPT.
d. GPHR.
78. HR professionals value their professional certification because
a. certification is required in order to hold an exempt-level position in HR.
b. PHR and SPHR certified professionals command higher pay.
c. of the credibility certification gives them with peers and senior managers.
d. certification is viewed as the equivalent of a master’s degree in HR.
TRUE/FALSE
1. Few firms bother to calculate the return they receive on human capital investments.
2. Effective use of a firm’s human capital may explain significant amounts of the difference in market
value between one company and another.
3. Intellectual capital is the thinking, knowledge, creativity, and decision-making that people in
organizations contribute.
4. The value of human capital is intangible and its contribution to the organization is not measurable,
even though it is of critical importance to the organization’s success.
5. HR management is exclusively concerned with activities and forces within the firm.
6. Human resource management is a technical discipline requiring specialized skills. Accordingly, all HR
activities should be carried out by HR professionals.
7. From a legal standpoint, it is critical that line managers not undertake HR management activities.
8. Most HR outsourcing is related to the administrative role of HR.
9. The top management team of an international chemical company is considering outsourcing some of
its HR functions. As a member of the HR staff who has been involved with top management in
strategic discussions about an upcoming acquisition, you ought to be updating your resumé because
you will probably be terminated.
10. Typical operational HR functions include legal compliance, processing applications, training
supervisors, and administering wages and salaries.
11. Operational HR is essentially reactive while strategic HR is essentially proactive.
12. When EconoPharm acquired a
competing chain of discount drug stores, the vice president of HR was
brought in after the decision to acquire was made, in order to make plans for workforce changes. This
is an example of HR as a strategic partner.
13. An HR professional who seeks to work in international business must look for a job in a very large
firm.
14. The fastest-growing occupations are related to information technology and health care, but the most
job growth in terms of total number of jobs is in lower-skilled service fields.
15. If the U.S. educational system does not improve, U.S. employers will be forced to expand international
outsourcing of jobs.
16. Contingent workers have less legal protection regarding selection, discrimination, benefits, discipline
and termination than do regular employees.
17. Clark employs eleven international sales representatives who communicate with him entirely by
telephone and email. Clark is correct in calling them “my virtual employees.”
18. African-Americans make up the largest proportion of minorities in the overall U.S. workforce.
19. Employee problems with balancing work and family have resulted in growing retention problems for
firms.
20. As a recruiter for DeeLish Candies, Inc., Joyce has noticed a number of applicants for positions at
DeeLish Candies who were laid off from one of its main competitors. This competitor recently
completed a major restructuring of the organization. Although Joyce has no direct information about
this competitor, she surmises that the restructuring was due to cost pressures. Joyce is probably correct
in her guess.
21. It is illegal under discrimination laws for a firm to be hiring employees for some positions while
simultaneously laying off employees from other positions.
22. Because the core of HR management involves working with people one-on-one, the introduction of
web-based technology has had little impact on the day-to-day working lives of HR managers.
23. When HR departments of firms in the same industry collaborate, there is some concern that
competitive conflicts may arise.
24. The initial purpose served by an HRMS in an organization is efficiency: quicker processing of data
and activities with fewer HR staff.
25. HRMS have not been effective at improving HR work flow in most organizations because of
educational limitations of hourly-level employees.
26. Employee self-service in an HRMS means that employees can handle all their interactions with HR
electronically without ever needing to interact face-to-face with an HR professional.
27. Firms with high ethical standards are more likely to meet long-term strategic goals than firms which
behave unethically.
28. Because of higher European standards for business conduct, European businesses are less subject to
ethical scandals than are U.S. businesses.
29. A bribe to a government official will be exempt from the Foreign Corrupt Practices Act if the HR
professional involved records the transaction as a gift.
30. It is fair to say that at Enron (where there were widespread incidents of corruption) the organizational
culture supported unethical behavior.
31. A survey of HR professionals indicated that common ethical misconduct in HR activities included
favoritism in hiring and promotion as well as personal bias in performance appraisal and pay increases.
32. With respect to HR management, ethics is primarily concerned with legal compliance to avoid
expensive lawsuits and out-of-court settlements.
33. An important method for an HR professional to establish credibility internally and externally to the
firm is professional certification.
34. When hiring a benefits specialist for a large organization, the recruiter would be wise to look for a
professional with the OHST and/or the CPT certifications.
35. An individual wanting a position in international HR would be well-advised to seek GPHR
certification.
ESSAY
1. What are the three major roles of HR management? Which is/are the most affected by technology and
outsourcing? Which role is growing in importance?
2. What challenges face HR managers with regard to workforce availability and quality? What are
potential solutions?
3. Describe the major purposes of an HR management system (HRMS) in the organization. Give
examples of HRMS uses.
4. Discuss why ethical issues permeate HR management. Beyond the value of ethics for its own sake,
what “practical” value does ethical behavior have for an organization? What are the four elements of
ethics programs?
.
5. Identify the key competencies needed by HR professionals.