BUSN420 Final Exam Study Guide
YOU MAY WANT TO PRINT THIS GUIDE.
1. The Final Exam is open book and open notes. The maximum time you can spend in the exam is 3 hours, 30 minutes. If you have not clicked the Submit for Grading button by then, you will be exited from the exam automatically. In the Final Exam environment, the Windows clipboard is disabled, so you will not be able to copy exam questions or answers to or from other applications.
2. You should click the Save Answers button in the exam frequently. This helps prevent connection timeouts that might occur with certain Internet service providers and also minimizes lost answers in the event of connection problems. If your Internet connection does break, when you reconnect, you will normally be able to get back into your Final Exam without any trouble. Remember, though, that the exam timer continues to run while students are disconnected, so students should try to log in as quickly as possible. The Help Desk cannot grant any student additional time on the exam.
3. See the Syllabus section "Due Dates for Assignments & Exams" for due date information.
You will only be able to enter your online Final Exam one time.
Click the Save Answers button often.
If you lose your Internet connection during your Final Exam, log on again and try to access it. If you are unable to enter the Final Exam, first contact the Help Desk and then your instructor.
You will always be able to see the time remaining in the Final Exam at the top right of the page.
5. Assessments With Multiple Pages
Make sure you click the Save Answers button before advancing to the next page (we also suggest clicking on Save Answers while you are working).
Complete all of the pages before submitting your Final Exam for instructor review.
Do NOT use your browser's Back and Forward buttons during the Final Exam.
Please use the provided links for navigation.
Pages can be completed in any order. You may go back and forth between the pages.
6. Submitting Your Final Exam
When you are finished with the Final Exam, click on the Submit for Grading button.
Please note: Once you click the Submit for Grading button, you will NOT be able to edit or change any of your answers.
7. Exam Questions
There are 10 randomly selected essay questions each worth 20 points for a total of 200 points.
There are 5 randomly selected multiple choice questions on TCOs 5 and 8 from the Becker CPA material worth 10 points each for a total of 50 points.
The Final Exam covers all course TCOs and Weeks 1–7.
The Final Exam contains multiple pages, which can be completed in any order. You may go back and forth between the pages.
The Final Exam questions are pooled. This means that not everyone will have the same questions. Even if you do have some of the same questions, they may not be in the same order. These questions are distributed amongst the TCOs. The entire exam is worth 250 points.
On the essay questions, your answers should be succinct, should fully address each part of the question, and should demonstrate your knowledge and understanding in a concise but complete manner. Most essay questions require answers that are a couple of paragraphs (not a couple of sentences) that directly speak to each part of the question. Some students opt to work on the essay questions first, due to their higher point value and the length of time needed to adequately address each question, but this is entirely your choice.
Remember to always use proper citation when quoting other sources. This means that ANY borrowed material (even a short phrase) should be placed in quotation marks with the source (URL, author/date/page number) immediately following the end of the passage (the end quote). Changing a few words in a passage does NOT constitute putting it in your own words, and proper citation is still required. Borrowed material should NOT dominate a student’s work; it should only be used sparingly to support the student’s thoughts, ideas, and examples. Heavy usage of borrowed material (even if properly cited) can jeopardize the points for that question. Uncited material can jeopardize a passing grade on the exam. As a part of our commitment to academic integrity, your work may be submitted to turnitin.com, an online plagiarism-checking service. So please be VERY mindful of proper citation.
8. Some of the key study areas are shown below. Although these are key areas, remember that the exam is comprehensive for all of the assigned course content and this study guide may not be all-inclusive.
Describe the common law tradition as it developed in England through its existence today in American jurisprudence.
Describe the sources of law for the American legal system.
Define the concepts of stare decisis and precedent.
Explain the concept of separation of powers.
Explain the Commerce Clause, the Supremacy Clause, and the Equal Protection Clause.
Explain when a law restricting commercial speech is constitutionally valid.
Explain federal and state court structure.
Distinguish between the subject matter jurisdiction of federal and state courts and personal jurisdiction over a defendant in a civil action.
Identify the major stages of civil litigation in a trial court, and list the order of events in a civil case.
Name the requirements to form a valid contract, and explain the meaning of each.
Distinguish between unilateral and bilateral contracts, between express and implied contracts, between executed and executory contracts, and between void and voidable contracts.
Give an example of quasi-contract.
Identify the necessary requirements for a valid offer, and explain what terminates an offer.
Explain a counteroffer and its effect.
List the requirements for a valid acceptance, and explain the mailbox rule.
Explain consideration and give examples of when it is and is not present.
Explain promissory estoppel.
Explain the concept of a minor disaffirming a contract, and explain when that applies.
Explain the effect of intoxication or mental incompetency on a person's ability to form a valid contract.
Identify some contracts that may be unenforceable as being against public policy.
Explain the purpose and function of the Uniform Commercial Code.
Define the elements necessary to form a sales contract under UCC Article 2.
Define the provisions of the Statute of Frauds and Parole Evidence Rule under UCC Article 2.
Review the Becker CPA Week 5 Lecture.
Define agency powers and functions.
Explain agency rulemaking procedures; compare and contrast the different types of rulemaking procedures.
Describe the process or judicial review and discuss the scope of review and the standards of review.
Distinguish between the protection granted to patents, copyrights, trademarks and service marks, trade names, trade dress, and cybermarks.
Explain the scope of trademark protection (trademarks, service marks, and trade dress).
Differentiate between fanciful, arbitrary, or suggestive trademarks, descriptive terms that have acquired secondary meaning, and generic terms, and the types of marks that are protected.
Explain the requirements for a valid claim of trademark infringement.
Differentiate a trade name from a trademark.
Explain the requirements for a valid claim of patent infringement.
List the required elements for a valid copyright, and the requirements for bringing a copyright infringement action.
Explain the fair use doctrine and give an example of fair use.
Explain the purposes of the Anti-cybersquatting Consumer Protection Act, the No Electronic Theft Act, and the Digital Millennium Copyright Act.
Explain the liability of Internet service providers for torts committed by users.
Explain tort liability for sending spam, and the scope of the CAN SPAM Act.
Explain how Internet data brokers may be liable for stalking.
Identify the requirements for a valid e-signature under the federal E-SIGN Act.
Explain when an electronic transaction is binding under the Uniform Electronic Transactions Act.
Distinguish between the four types of electronic funds transfer systems used by banks.
Distinguish the liability of the bank, the customer and the payee in an electronic transfer of funds.
Name some examples of e-money, and discuss the laws that apply to each.
Review the Becker CPA material in Week 6 on Secured Transactions.
Distinguish between an independent contractor and an employee.
Explain the doctrine of respondeat superior.
Define the terms agency, principals, and agent, and explain the different types of agents.
Analyze the duty, liability, and authority of the principal and the agent.
Explain the methods of terminating an agency relationship.
Describe the formation of sole proprietorships, as well as the advantages and disadvantages of that form of business organization.
Describe the formation of sole general partnerships, and limited partnerships and the rights, duties, and responsibilities of owners or partners.
Describe the formation of different types of corporations, and the rights, duties, and responsibilities of shareholders, officers, and directors.
9. Areas that were discussed in the threads will be prime targets.
10. Assignments will also be prime targets for revisiting.
11. Reviewing the TCOs, which I have listed below for your convenience, will also be a great preparation for the Final Exam.
1 The Common Law Tradition and Negligence. Given the historical framework of the common law, explain the common law tradition and its role in the development of negligence law, including the negligence liability of accountants.
2 The Constitution and Business. Given a law restricting commerce, identify the constitutional law issues raised and explain how the courts would resolve the issues according to the current state of the law.
3 Courts and Dispute Resolution. Given a lawsuit, explain the litigation process, starting with the selection of a court with proper jurisdiction, and moving through the basic steps leading to a resolution of the dispute.
4 Contracts. Given a scenario involving a contract, analyze the legal sufficiency of the offer, acceptance, and consideration, determine whether the contract is enforceable, and identify the remedies available to the non-breaching party according to the current state of the law.
5 UCC Sale of Goods. Given a fact scenario, determine whether a valid contract has been formed in accordance with Article 2 (Sales) of the UCC.
6 Administrative Law. Given a scenario involving a government regulation and an enforcement proceeding, determine the standard required to comply with the regulation, possible bases for challenging the regulation, and the tests an appellate court would consider in evaluating an appeal from the agency's final decision.
7 Intellectual Property. Given a scenario involving intellectual property, identify the type(s) of intellectual property at issue and explain whether an infringement of rights has occurred, based on the current state of the law.
8 Cyberlaw. Given a scenario involving wrongful acts transmitted electronically or via the Internet, identify the relevant laws and explain their application.
9 Agency Law. Given a scenario involving a claim against an employer based on the conduct of an employee, identify the legal principle(s) upon which the claim is based and suggest a line of defense for the employer.
10 Business Organizations. Given a scenario involving the organization of a business, discuss the legal advantages and disadvantages of the various forms of organization and the roles and responsibilities of the parties involved.
Finally, if you have any questions for me, please post them to our Q & A Forum, or e-mail me. Good luck on the exam!