FIN 3054 Exam 1 with all Correct & 100% Verified Answers |
Actual Complete Update |Already Graded A+
1. Constitution - Supreme law of the land
-founding document contains not only provisions that grant power or
authority, but provisions that restrain it
2. Article I - Defines the Legislative Branch, it's powers, members, and workings.
-§8 enumerates what kind of laws Congress can propose
-Authority to create laws
-Limited by: Vetoes, Judicial review
3. Article II - Defines scope of presidential power
-Allows President to conduct foreign attairs, including ratification (2/3
approval from legislative branch) of treaties and trade agreements
(majority vote)
-Enables President to appoint agency head
-Executive orders (presidential directive with ettect and force of law)
-Authority to enforce laws
-Limited by: Veto override, Judicial review, Congressional consent
4. Article III - Establishes Supreme Court and permits creation of additional federal courts
-Authority to interpret laws and determine their validity
-§2 determines which cases can be heard/jurisdiction of courts
-Limited by: Congressional action, Presidential power of appointment
5. Federalism The balance of power between federal and state governments
6. Constitutional -Article VI, §2: Supremacy clause; states that federal law takes
Basis for precedence over state laws (essentially)
Hierarchy of -Tenth Amendment: states that any rights not delegated to the United
Law
States are reserved to the states or the people
7. Private/Soft Law - non-binding norms of state behavior; may or may not eventually
become hard or obligatory law
-e.g. contracts, leases, employee handbooks, corporate codes of
conduct, indus-try custom
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, FIN 3054 Exam 1 with all Correct & 100% Verified Answers |
Actual Complete Update |Already Graded A+
Injunction Court orders prohibiting certain conduct
Order for Court order that compels certain conduct
specific
performance
Ordinance
10. -Law enacted by municipal authorities
-e.g. city zoning or building codes
International
11. A body of rules that binds states and other agents in world politics and is
Law considered to have the status of law
Bill
12. Law proposed by the legislature
Statute
13. Law that is passed by the President
Congressional
14. If President Vetoes a bill, Congress can override the veto if each houses
Override repasses the bill by a 2/3 margin
Enabling
15. -Legislation that creates and oversees Federal agencies
Legisla-tion -Authorizes Executive branch to appoint agency personnel
-Enhanced by implied powers found in Necessary and Proper cause
-Limited by Article I, §9
Federal Agency Agencies created by the government to interpret and enforce statutory
16.
law, adju-dicate disputes, and assess penalties
- Considered 4th branch of government
Executive
17. - Administered in line with the executive branch's policies.
Agency
-Agency head chosen by President
-e.g. IRS, FBI
18. Independen
t Agency
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,FIN 3054 Exam 1 with all Correct & 100% Verified Answers |Actual
Complete Update |Already Graded A+
-President has no power to remove the agency head for political reasons
-Can appoint new president once term is up
-e.g. FCC, SEC
19. Legislative Rule Functions the same way a statute might
20. Interpretive Rule Agency interprets what law means or requires
21. Informal -"Notice and Comment"
Rule-making -Agency proposes rule and allows for feedback; then the agency
publishes the rule
22. Formal
Rulemaking that requires a hearing and a formal written response to
Rulemak-ing
events that occurred at hearing
23. Administrati
-Agencies are subject to judicial review
ve
-Must comply with proper rulemaking procedures
Procedures
Act
Law that keeps citizens "in the know" - provides public access to all
24. Freedom of applicable federal documents
In-formation
Act (FOIA)
-Facts must provide substantial evidence
25. Standards of -Interpretations must be reasonable
Re-view of
Agency
Actions
26. Precedent A ruling issued by an appellate court in the past
27. Case Law Includes
-state common law (and federal but that's not discussed in class)
-Statutory interpretation
-Interpretation of regulatory law
3/
42
, FIN 3054 Exam 1 with all Correct & 100% Verified Answers |Actual
Complete Update |Already Graded A+
-Constitutional law
4/
42
Actual Complete Update |Already Graded A+
1. Constitution - Supreme law of the land
-founding document contains not only provisions that grant power or
authority, but provisions that restrain it
2. Article I - Defines the Legislative Branch, it's powers, members, and workings.
-§8 enumerates what kind of laws Congress can propose
-Authority to create laws
-Limited by: Vetoes, Judicial review
3. Article II - Defines scope of presidential power
-Allows President to conduct foreign attairs, including ratification (2/3
approval from legislative branch) of treaties and trade agreements
(majority vote)
-Enables President to appoint agency head
-Executive orders (presidential directive with ettect and force of law)
-Authority to enforce laws
-Limited by: Veto override, Judicial review, Congressional consent
4. Article III - Establishes Supreme Court and permits creation of additional federal courts
-Authority to interpret laws and determine their validity
-§2 determines which cases can be heard/jurisdiction of courts
-Limited by: Congressional action, Presidential power of appointment
5. Federalism The balance of power between federal and state governments
6. Constitutional -Article VI, §2: Supremacy clause; states that federal law takes
Basis for precedence over state laws (essentially)
Hierarchy of -Tenth Amendment: states that any rights not delegated to the United
Law
States are reserved to the states or the people
7. Private/Soft Law - non-binding norms of state behavior; may or may not eventually
become hard or obligatory law
-e.g. contracts, leases, employee handbooks, corporate codes of
conduct, indus-try custom
1/
42
, FIN 3054 Exam 1 with all Correct & 100% Verified Answers |
Actual Complete Update |Already Graded A+
Injunction Court orders prohibiting certain conduct
Order for Court order that compels certain conduct
specific
performance
Ordinance
10. -Law enacted by municipal authorities
-e.g. city zoning or building codes
International
11. A body of rules that binds states and other agents in world politics and is
Law considered to have the status of law
Bill
12. Law proposed by the legislature
Statute
13. Law that is passed by the President
Congressional
14. If President Vetoes a bill, Congress can override the veto if each houses
Override repasses the bill by a 2/3 margin
Enabling
15. -Legislation that creates and oversees Federal agencies
Legisla-tion -Authorizes Executive branch to appoint agency personnel
-Enhanced by implied powers found in Necessary and Proper cause
-Limited by Article I, §9
Federal Agency Agencies created by the government to interpret and enforce statutory
16.
law, adju-dicate disputes, and assess penalties
- Considered 4th branch of government
Executive
17. - Administered in line with the executive branch's policies.
Agency
-Agency head chosen by President
-e.g. IRS, FBI
18. Independen
t Agency
2/
42
,FIN 3054 Exam 1 with all Correct & 100% Verified Answers |Actual
Complete Update |Already Graded A+
-President has no power to remove the agency head for political reasons
-Can appoint new president once term is up
-e.g. FCC, SEC
19. Legislative Rule Functions the same way a statute might
20. Interpretive Rule Agency interprets what law means or requires
21. Informal -"Notice and Comment"
Rule-making -Agency proposes rule and allows for feedback; then the agency
publishes the rule
22. Formal
Rulemaking that requires a hearing and a formal written response to
Rulemak-ing
events that occurred at hearing
23. Administrati
-Agencies are subject to judicial review
ve
-Must comply with proper rulemaking procedures
Procedures
Act
Law that keeps citizens "in the know" - provides public access to all
24. Freedom of applicable federal documents
In-formation
Act (FOIA)
-Facts must provide substantial evidence
25. Standards of -Interpretations must be reasonable
Re-view of
Agency
Actions
26. Precedent A ruling issued by an appellate court in the past
27. Case Law Includes
-state common law (and federal but that's not discussed in class)
-Statutory interpretation
-Interpretation of regulatory law
3/
42
, FIN 3054 Exam 1 with all Correct & 100% Verified Answers |Actual
Complete Update |Already Graded A+
-Constitutional law
4/
42
