BUS 201 FINAL EXAM QUESTIONS AND
VERIFIED ANSWERS (LATEST 2026) 100%
CORRECT
_____ protects employees against discrimination and
harassment based upon race, color, religion, national origin, and
sex. - correct answer- Title VII of the Civil Rights Act of 1964
A _____ transaction is a transaction in which the payment of a
debt is guaranteed by the debtor's personal property owned by
the debtor. - correct answer- secured
A directors, who cannot attend a board meeting due to a good
reason, is allowed to vote by proxy. - correct answer- This
statement is incorrect.
A mother lives in Indian River & has a farm with 400 acres valued
at $400,000. The farm is in the mother's name only. When she
dies, she wants to give her estate to her 3 children and avoid
probate. Based on our class discussion, how could the mother
do this? - correct answer- Re-title mom's property so the
three children and the mom are "joint tenants" or put the farm
in a trust, during mother's life-time, naming the children the
,beneficiaries of the trust when mother dies are both good
answers
A power of attorney can be general or specific. - correct
answer- true
A trust has three parties that are involved. Name the three
parties: - correct answer- The trustee, the grantor, and the
beneficiary
A(n) _____ takes over administration of the debtor's estate. -
correct answer- trustee
According to the _____ doctrine, an employee may be fired for
almost any reason. - correct answer- employment-at-will
An agent's implied authority is derived from an agent's express
authority and consists of what is reasonably necessary for
carrying out the agent's grant of express authority.
Group starts - correct answer- true
, An individual who hires an independent contractor can generally
be held liable for the torts committed by an independent
contractor. - correct answer- FALSE
An NFL football player "crashed" a party where the home-owner
asked football player to leave. Football player beat-up and
kicked home-owner, before football player left the party. The
home-owner called the police and went to the hospital (home-
owner had $100,000 in medical bills). The police arrested
football player and charged him with felony battery. Football
player pled guilty to misdemeanor battery. Football player loses
his job playing football and now has $500,000 in debt (credit
cards and other unsecured debt) and football player is being
sued by home-owner for $600,000. Home-owner claims he is
entitled to $100,000 for medical bills and $500,000 for the pain
and injury home-owner received from the beating. Football
player, who only has assets of $20,000, and now works at
Wendy's making $18,000 per year, files a peition in Chapter 7
bankruptcy. Is filing Chapter 7 bankruptcy the right strategy? -
correct answer- No. Football player should file for Chapter 11
bankruptcy since football player does not qualify for Chapter 13.
The home-owner lawsuit is a non-dischargeable debt under
Chapter 7 but may be paid-off under a Chapter 11 petition.
Aunt Mary dies & she has no relatives (blood heirs). She leaves
everything she owns to Vivian ($60,000). Based on our video
VERIFIED ANSWERS (LATEST 2026) 100%
CORRECT
_____ protects employees against discrimination and
harassment based upon race, color, religion, national origin, and
sex. - correct answer- Title VII of the Civil Rights Act of 1964
A _____ transaction is a transaction in which the payment of a
debt is guaranteed by the debtor's personal property owned by
the debtor. - correct answer- secured
A directors, who cannot attend a board meeting due to a good
reason, is allowed to vote by proxy. - correct answer- This
statement is incorrect.
A mother lives in Indian River & has a farm with 400 acres valued
at $400,000. The farm is in the mother's name only. When she
dies, she wants to give her estate to her 3 children and avoid
probate. Based on our class discussion, how could the mother
do this? - correct answer- Re-title mom's property so the
three children and the mom are "joint tenants" or put the farm
in a trust, during mother's life-time, naming the children the
,beneficiaries of the trust when mother dies are both good
answers
A power of attorney can be general or specific. - correct
answer- true
A trust has three parties that are involved. Name the three
parties: - correct answer- The trustee, the grantor, and the
beneficiary
A(n) _____ takes over administration of the debtor's estate. -
correct answer- trustee
According to the _____ doctrine, an employee may be fired for
almost any reason. - correct answer- employment-at-will
An agent's implied authority is derived from an agent's express
authority and consists of what is reasonably necessary for
carrying out the agent's grant of express authority.
Group starts - correct answer- true
, An individual who hires an independent contractor can generally
be held liable for the torts committed by an independent
contractor. - correct answer- FALSE
An NFL football player "crashed" a party where the home-owner
asked football player to leave. Football player beat-up and
kicked home-owner, before football player left the party. The
home-owner called the police and went to the hospital (home-
owner had $100,000 in medical bills). The police arrested
football player and charged him with felony battery. Football
player pled guilty to misdemeanor battery. Football player loses
his job playing football and now has $500,000 in debt (credit
cards and other unsecured debt) and football player is being
sued by home-owner for $600,000. Home-owner claims he is
entitled to $100,000 for medical bills and $500,000 for the pain
and injury home-owner received from the beating. Football
player, who only has assets of $20,000, and now works at
Wendy's making $18,000 per year, files a peition in Chapter 7
bankruptcy. Is filing Chapter 7 bankruptcy the right strategy? -
correct answer- No. Football player should file for Chapter 11
bankruptcy since football player does not qualify for Chapter 13.
The home-owner lawsuit is a non-dischargeable debt under
Chapter 7 but may be paid-off under a Chapter 11 petition.
Aunt Mary dies & she has no relatives (blood heirs). She leaves
everything she owns to Vivian ($60,000). Based on our video
