BLAW FINAL EXAM STUDY GUIDE OVERVIEW
UPDATED ACTUAL QUESTIONS AND CORRECT
ANSWERS
Question:
1. Unfair labor practices
Answer:
Interference with the efforts of employees to form,
join, or assist labor organizations; an employer's
domination of a labor organization; discrimination in
hiring or awarding of tenure to employees for reason
of union affiliation; discrimination against employees
for filing charges under the act or giving testimony
under the act; refusal to bargain collectively with the
duly designated representative of the employees.
Question:
2. National Labor Relations Act (NLRA)
Answer:
Protects workplace democracy by providing
employees at private-sector workplaces the
fundamental right to seek better working conditions
and designation of representation without fear of
retaliation.
Question:
3. Garnishment
Answer:
Refers to the legal process through which a creditor
can collect a debt by taking a portion of a debtor's
wages, bank account funds, or other assets directly
from a third party (such as an employer or financial
institution).
Question:
4. Ethical Leadership
Answer:
Helps build trust and a positive work environment and
inspires employees to follow suit.
, Question:
5. Codes of Conduct
Answer:
Rules that a company sets forth that it can also
enforce, typically outlining the company's policies on
particular issues and indicating how employees are
expected to act.
Question:
6. Enron
Answer:
Once one of the largest energy companies in the
world, engaged in unethical practices and accounting
fraud to appear more profitable than it was.
Question:
7. Accounting Fraud
Answer:
Enron used mark-to-market accounting, where they
counted projected future profits as current revenue,
inflating earnings and hiding losses.
Question:
8. Special Purpose Entities (SPEs)
Answer:
Used by Enron to hide debt and inflate profits.
Question:
9. Stock Manipulation
Answer:
Executives encouraged employees to invest heavily in
Enron stock while they privately sold their own shares
before the company collapsed.
Question:
10. Merck and Vioxx
Answer:
Involved the pharmaceutical company Merck & Co.
and its painkiller Vioxx (rofecoxib), which was
launched in 1999 and later revealed to significantly
increase the risk of cardiovascular events.
UPDATED ACTUAL QUESTIONS AND CORRECT
ANSWERS
Question:
1. Unfair labor practices
Answer:
Interference with the efforts of employees to form,
join, or assist labor organizations; an employer's
domination of a labor organization; discrimination in
hiring or awarding of tenure to employees for reason
of union affiliation; discrimination against employees
for filing charges under the act or giving testimony
under the act; refusal to bargain collectively with the
duly designated representative of the employees.
Question:
2. National Labor Relations Act (NLRA)
Answer:
Protects workplace democracy by providing
employees at private-sector workplaces the
fundamental right to seek better working conditions
and designation of representation without fear of
retaliation.
Question:
3. Garnishment
Answer:
Refers to the legal process through which a creditor
can collect a debt by taking a portion of a debtor's
wages, bank account funds, or other assets directly
from a third party (such as an employer or financial
institution).
Question:
4. Ethical Leadership
Answer:
Helps build trust and a positive work environment and
inspires employees to follow suit.
, Question:
5. Codes of Conduct
Answer:
Rules that a company sets forth that it can also
enforce, typically outlining the company's policies on
particular issues and indicating how employees are
expected to act.
Question:
6. Enron
Answer:
Once one of the largest energy companies in the
world, engaged in unethical practices and accounting
fraud to appear more profitable than it was.
Question:
7. Accounting Fraud
Answer:
Enron used mark-to-market accounting, where they
counted projected future profits as current revenue,
inflating earnings and hiding losses.
Question:
8. Special Purpose Entities (SPEs)
Answer:
Used by Enron to hide debt and inflate profits.
Question:
9. Stock Manipulation
Answer:
Executives encouraged employees to invest heavily in
Enron stock while they privately sold their own shares
before the company collapsed.
Question:
10. Merck and Vioxx
Answer:
Involved the pharmaceutical company Merck & Co.
and its painkiller Vioxx (rofecoxib), which was
launched in 1999 and later revealed to significantly
increase the risk of cardiovascular events.
