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Q:
Hard power is waged at the emotional and psychological level.
Q:
The General Assembly consists of all UN member-states.
Q:
The national science court has exclusive jurisdiction over issues involving scientific, engineering, medical, and technological cases.
Q:
The general welfare clause has been used over the last two centuries to give Congress the power to create a national police force and the FBI.
Q:
Carmine was a patient at the Galion Memorial Hospital. While Carmine was out of the room, Riley accidentally spilled a pitcher of water on the floor of Carmine's room. Before cleaning up the water, Riley took her lunch break. When Carmine returned to his room, he slipped in the puddle of water, fell, and injured himself. Carmine sued Riley and the hospital for negligence. At the trial, Carmine argued that there was no need for an expert witness to testify as to the standard of care rendered by the nurse. Was Carmine correct? Explain.
Q:
Betty is unhappy with her physician, Todd, and wants a copy of her medical records to be able to consult another physician. Todd says the records are his work product and his property. Discuss the likely outcome of this dispute.
Q:
Small hospital uses independent physicians and allows them to wear a Small identification tag and issue orders to Small employees. Discuss the risk Small hospital is taking.
Q:
International power depends upon the type of international institution that is charged with oversight responsibilities.
Q:
Statutory law regulates the social system by telling people what they can and cannot do
Q:
Big Co. hires its auditor, Geraldo, as Vice President for Finance. Geraldo is a partner in Seasoned Accounting firm that will continue to audit Big. Discuss the major legal issues this situation raises.
Q:
Spratt, an accountant, deliberately falsified a financial statement she was preparing for Aniline Industries. Gladden and Jarvis invested in Aniline based on the statement. A banker at Kidston National Bank also relied on the statement in deciding to make a loan to Aniline. When Gladden, Jarvis, and Kidston National Bank learned of the deception, they told Spratt that they were going to bring suit against her. Spratt told them that a court would never rule in their favor because they were not known third parties. Was Spratt correct? Why or why not?
Q:
The architectural firm of Maxwell-Wyatt Inc. designed a house for Sandoval. Due to an error in the architect's plans, the drain in the basement did not work properly. Can Sandoval rightfully expect the firm to pay him the $1,500 it would cost to correct the error? Explain.
Q:
Attorney Riana prepares a will for her client Jones. After Jones dies, Jones's son, Ted, sues Riana because Jones did not minimize the probate process by creating probate avoiding devices in the will. Discuss if Ted's suit will be successful.
Q:
Sally is angry with George, her attorney, and wants to sue him for malpractice. Discuss what Sally must prove to win her case.
Q:
Eva, a Mercy Hospital patient, received medication intended for another patient and as a result suffered severe complications. In a malpractice case against Mercy, regarding the administering of the wrong medication to Eva:
A. expert testimony is required.
B. expert testimony is required only if it happened once.
C. expert testimony is not required only if the other patient was in a different area of the hospital.
D. expert testimony is not required.
Q:
_____ refer to a system of coordinated health care institutions for Medicare patients developed by the Department of Health and Human Services.
A. High-deductible health plans
B. Preferred provider organizations
C. Accountable care organizations
D. Health maintenance organizations
Q:
_____ occurs if the hospital has retained a physician that the governing body of the hospital knew or should have known was incompetent.
A. Ostensible authority
B. Negligent credentialing
C. A staff privilege
D. Indifferent testimony
Q:
Charlie, a high school dropout, works as an accountant for Small Co. Discuss if the state may prevent Charlie from working as an accountant due to his lack of education and failure to meet state registration requirements.
Q:
Big Co. has made a variety of unsecured, undisclosed, large personal loans to top management officials. Belinda audits Big and discovers this problem. Discuss what type of audit opinion Belinda is likely to issue.
Q:
Miranda, a student in Brad's business law class, asks a hypothetical question that is, in fact, based upon a current problem that her brother, Stan, is having. Brad gives an incorrect answer and Stan suffers a loss when he acts according to the answer Miranda provided him. Brad:
A. has no duty of due care to Stan but has to Miranda.
B. has no duty of due care to either Miranda or Stan.
C. has a duty of due care to both Stan and Miranda.
D. has a duty of due care to Stan but not to Miranda.
Q:
Which of the following statements holds true for the true locality rule?
A. It requires the court to look at the standard of care used in the exact locality of the physician.
B. It permits the court to judge the actions of a local physician against those of a physician in a community of comparable size and socioeconomic character.
C. It ignores the socioeconomic character of the physician's home base and concentrates instead on the geographical limits of a state border.
D. It permits general practioners to be judged by one criterion and specialists by another.
Q:
Which of the following would be considered a valid informed consent by a court?
A. Dr. Ambrose tells her patient in advance about a dangerous procedure and the risk involved, and obtains the patient's informed consent in writing on a form that is signed by the patient.
B. Dr. Ambrose tells her patient in advance about a dangerous procedure and the risk involved and obtains the patient's informed consent in writing on a form that is signed by the patient and witnessed by a third party.
C. Dr. Ambrose obtains her patient's oral informed consent, which is witnessed by a third party.
D. Dr. Ambrose tells her patient the procedure is mandatory.
Q:
Wolfgang was transported unconscious from the scene of a motorcycle accident to a local hospital where he was admitted for emergency treatment. Does the hospital need to be concerned about obtaining written consent to treatment from someone before starting treatment on Wolfgang?
A. Yes, informed consent requires a signed document.
B. No, it can get consent after the treatment.
C. Yes, without consent from the next of kin there is liability.
D. No, general consent is implied and this is an emergency.
Q:
Samuel, a physician, is involved in a malpractice case. If the true locality rule was applied in his case, the court would judge his actions:
A. against those of a physician in a community of similar size and socioeconomic character.
B. by concentrating on the geographical limits of a state border.
C. by looking at the standard of care used in the same exact locality of Samuel.
D. on the basis of expert testimony provided from his locality.
Q:
Angela asserts that HIPAA allows her to have copies of the records that result from her psychotherapy sessions with Xenon. Angela:
A. can look through the records along with Xenon.
B. must have Xenon's permission.
C. must have Xenon's permission and can only look through the records along with Xenon.
D. can have personal copies of these records.
Q:
Cal, a purchaser, lost $15,000 after purchasing corporate stock based on a false registration statement. Cal:
A. has no legal recourse through which he may try to recover his loss.
B. may sue the accountant who prepared the registration statement under the Securities Exchange Act of 1954.
C. may sue the accountant who prepared the registration statement under the Securities Act of 1933.
D. may sue the corporation of stock fraud under the Securities Exchange Act of 1934.
Q:
State security statutes are commonly called:
A. exchange laws.
B. third party laws.
C. common laws.
D. blue sky laws.
Q:
Milton is offered a contract by Marcos and Co to design homes for a fourteen storey structure. After the home is completed, Marcos and Co finds that instead of two cupboards all the houses have only one cupboard. The error is traced back to Milton's faulty design. Barring the error the houses is in absolutely usable condition. What is Milton's liability?
A. Milton has to reimburse the client for any extra money spent to fit in an extra cupboard.
B. Milton has to pay Marcos and Co difference between the market value of the building as it stands and the market value of the intended structure.
C. Milton has to pay the tenants the cost for fitting in an extra cupboard.
D. Milton has to pay the state a fine for the inconvenience caused to the tenants.
Q:
The Model Rules of Professional Conduct for attorneys was established by:
A. the American Bar Association.
B. the National Conference of Commissioners on Uniform State Laws.
C. the American Lawyer's Cooperative System.
D. Congress.
Q:
An attorney also has a _____ to protect the client and to make certain that the client receives advice and representation that is free of conflicting interests.
A. duty of due care
B. duty of loyalty
C. duty of proximity
D. duty to act in good faith
Q:
A qualified opinion by an auditor that indicates that the financial statements are an accurate reflection of the company's financial health apart from some minor deviation from GAAP, not serious enough to warrant an adverse opinion is known as a(n):
A. "except for" opinion.
B. "unless" opinion.
C. "but for" opinion.
D. "indeterminate" opinion.
Q:
When auditors conclude that the financial records of the company are an accurate reflection of the company's financial status, they will issue a(n) ____.
A. unqualified opinion
B. qualified opinion
C. adverse opinion
D. disclaimer
Q:
Dan is an accountant with Miller & co. The financial condition of Miller & Co. is bad but Dan shows it to be very healthy while preparing its financial statement, knowing that Miller & Co. will show the statement to Chase for seeking financing for its new project. Here Dan will be liable to Chase if the new project goes bankrupt, and Chase is unable to recover its investments under the liability theory of:
A. general consent.
B. attorney-client privilege.
C. breach of contract.
D. actually named third parties.
Q:
Claus tells CPA Vernon that he needs an audit to borrow money from Big Bank. Claus pays Vernon and Claus takes Vernon's audit to Big Bank who makes the loan. When Claus defaults on the loan, Big discovers numerous liabilities that the audit did not reveal. Can Big Bank sue Vernon for negligence?
A. Yes, because Vernon breached the trust that Claus had placed in him.
B. No, because Big and Vernon did not have a contract.
C. Yes, because Big was an actually named third party.
D. No, because Vernon does not guarantee the collection of Big's loans.
Q:
Jim tells his independent accountant, Rachelle, to prepare a financial statement for his business associate, Mel. If Rachelle is negligent in her preparation of this financial statement,:
A. she will be liable if Mel suffers actual financial loss due to her negligence.
B. Jim will be liable if Mel suffers actual financial loss due to Rachelle's negligence.
C. she will still not be liable to Mel.
D. Mel will not recover any money for financial loss due to her negligence because the business associate is not an actually named third party.
Q:
Hospitals cannot be held liable for the negligence of a physician if that physician is not an employee of the hospital.
Q:
An examination of the financial records of an organization to determine whether the records are a fair representation of the actual financial health of the organization is known as a(n):
A. audit.
B. appraisal.
C. review.
D. dissolution.
Q:
To be licensed as an attorney, Eva does not have to meet an experience requirement.
Q:
The SEC has the power to develop regulations that will create a "whistleblowing bounty program" analogous to the one used by the IRS.
Q:
If Nadia, a licensed physician, operated on a patient without consent, Nadia could be guilty of battery.
Q:
A patient's general consent for routine tests and procedures can be implied when she enters the hospital.
Q:
For a patient to succeed in a negligence case against a health care professional, the patient must demonstrate that the health care provider owed a duty to that patient.
Q:
Ostensible authority is created when a hospital presents itself to the public-at-large as a provider of health care services and in some way leads the patient to believe that a physician with staff privileges is an employee of the hospital.
Q:
Only two members of the PCAOB may be CPAs.
Q:
The Securities and Exchange Commission (SEC) has been charged with investigating how to regulate financial planners, including especially those planners who perform income tax planning services.
Q:
Certified public accountants (CPAs) and non-CPA partners are not under the authority of the Consumer Financial Protection Bureau as long as they are performing routine and traditional tasks.
Q:
If an accountant follows the GAAS or GAAP guidelines it automatically leads to his or her vindication in a court of law.
FALSE
Unfortunately, the opposite precept is not always true; that is, just because an accountant follows the GAAS or GAAP guidelines does not automatically lead to his or her vindication in a court of law. It is always possible that an accountant can follow the proper principles and procedures yet still make other errors that lead to liability.
Q:
An accountant who prepares a fraudulent financial statement is liable to anyone who can be reasonably foreseen as relying on that statement.
Q:
State statutes that regulate the sale of stock are frequently referred to as blue sky laws because they are set up to stop the sale of securities that are as empty as several feet of blue sky.
Q:
The cost of repair rule applies to situations where a structure is unusable for its originally intended purpose.
Q:
A disclaimer is a type of qualified opinion.
Q:
Kits wants to become a CPA and this must be approved by a vote of SEC.
Q:
Auditors may unconsciously help the organization they audit rather than the outside investors.
Q:
GAAP was created by the FASB.
Q:
Small Co. uses a unique and unrecognized accounting method and will, therefore, be subject to an adverse opinion.
Q:
A nonprofit organization, Save the Tigers, wants to contest Anna's will, since she promised to leave property to them at the annual Charity Banquet. Save the Tigers:
A. may submit evidence that Anna was of unsound mind.
B. may submit evidence that Anna was subjected to undue influence.
C. may not contest the will.
D. may not contest the will but may challenge the ownership of the property in question.
Q:
Trudy had been a constant companion of Gertrude. When Gertrude died, she left Trudy $10,000 in her will. On what basis might other heirs best attempt to challenge the $10,000 gift?
A. Undue influence
B. Unsound mind
C. Improper heir-ship
D. Improper execution
Q:
Tom and Megan die in a plane crash. After their marriage they had been jointly holding property. What happens to their property?
A. Tom's heirs inherit the whole property.
B. The state escheats the property.
C. Megan's heirs inherit the whole property.
D. The property is distributed equally between the heirs.
Q:
If Tano dies without a will, he dies:
A. testate.
B. intestate.
C. interstate.
D. testator.
Q:
Morgan, a resident of New York, had an antique car collection garaged in New Jersey. The car titles were kept in a safety deposit box of a bank in Delaware. If Morgan dies intestate, the law of which state will determine the ownership of the cars?
A. New Jersey
B. New York
C. Delaware
D. New Jersey, New York, and Delaware
Q:
Mack, the father of two children, dies intestate. Under a typical statute, the rights of his wife would include entitlement to:
A. one-half of the estate.
B. the entire estate.
C. one-half of the remainder of the estate plus $200,000.
D. no part of the estate.
Q:
The federal government's power to regulate accounting emerges from the inherent police powers found in the Fifth Amendment.
Q:
Dai executes a will and provides copies to all her children. Later she prepares a different will and destroys the first original will but not the copies. Has the original will been canceled?
A. No, since the copies still exist.
B. Yes, since Dai destroyed the original.
C. No, since delivering the copies prevents Dai from later changing her will.
D. Yes, since the last will is always the one probated.
Q:
Ruby's husband Caleb dies with title to the family home in his name. Caleb's creditors want to force the sale of the home to satisfy the unpaid debts. May Ruby prevent this sale?
A. Not if the debts are legitimate.
B. Yes, with homestead exemption.
C. No if the amount of debts exceeds the fair market value of the home.
D. Yes, with the forced share.
Q:
Lucy's stepfather, Zed, passed away intestate when she was 19. Zed had never adopted Lucy, but they were much closer than most fathers and daughters. As a stepdaughter,:
A. Lucy's legal rights of inheritance are the same as those of adopted children.
B. Lucy's legal rights of inheritance are the same as those of natural children.
C. Lucy has a limited right of inheritance as she was not adopted.
D. Lucy has no right of inheritance as she was not adopted.
Q:
Mathew made his will leaving his estate to his only son, Andrew. Two years later, he felt inclined to leave $100,000 toward a new old age home under construction in his locality. Mathew may make this bequest:
A. by executing a codicil.
B. by adding the bequest to the original will and initialing it.
C. by writing the bequest on a separate sheet and affixing it to the original.
D. by executing a durable power of attorney.
Q:
Carl has his lawyer prepare his will. Wanting to make a few minor changes, Carl places some handwritten words in the margins, initials them, and scratches out words in the typed text. These changes:
A. create a codicil.
B. create a new will.
C. amend the typed will.
D. are ineffective.
Q:
While in combat, a soldier, in front of four witnesses, made an oral will in which he distributed personal property. Such a will was:
A. a nuncupative will, which is not valid in most states.
B. a nuncupative will, which is valid in all states.
C. a valid holographic will.
D. intestate.
Q:
When a trust is established, legal and beneficial titles remain with the trustee.
Q:
A sprinkling trust has a built-in spendthrift provision.
Q:
Grandmother Smith is concerned about having an incapacitating illness that will prevent her from managing her finances. Grandmother Smith should execute a(n):
A. power of attorney.
B. advance directive.
C. agency proxy.
D. durable power of attorney.
Q:
Chandra is an invalid and therefore she cannot put her signature on her will. Her friend Nina signs the will for her. When Nina signs on behalf of Chandra there is no one else in the house. Is the will valid?
A. Yes, since Chandra was present during the time the will was signed.
B. No, since she did not date it.
C. Yes, since she is presumed to be mentally competent.
D. No, since there were no witnesses present during the signing of the will.
Q:
Darius wrote a will leaving his property in equal shares "to all my friends." which he dated and signed. Is the will valid?
A. Yes, since the document expresses Darius' intent.
B. No, since the will itself is ambiguous.
C. Yes, since he has dated and signed it.
D. No, since there is a numerical limit to the number of legal heirs.
Q:
Stepchildren are given the same legal rights under estate law as natural children.
Q:
A codicil is considered invalid if it does not refer to the existing will to which it applies.
Q:
While examining allegations of "undue influence" the court treats kindliness and undue influence as one and the same.
Q:
If the deceased dies without a will and is survived by no issue and no blood relatives, the surviving spouse is entitled to the entire estate.
Q:
In case of simultaneous death of husband and wife property owned jointly by both of the deceaseds is distributed equally between the heirs.
Q:
A living will typically authorizes an agent to make medical treatment decisions for another.
Q:
Nuncupative wills exclude giving of personal property.