FBLA Business Law Exam V2
2025/2026 | Complete Question and
Answer Study Guide | Legal Terms
and Concepts | Future Business
Leaders of America
Identify ethical character traits
Honesty, integrity, compassion, respect, responsibility, citizenship, and justice.
Explain the relationship between law and ethics and why they sometimes conflict.
Law and ethics both guide behavior but may conflict when legal actions are perceived as
unethical or vice versa.
Explain the differences between local, state, and federal government and the powers and
limitations of each.
Whereas the Federal Government and State governments share power in countless ways, a local
government must be granted power by the State. In general, mayors, city councils, and other
governing bodies are directly elected by the people. State and Federal Governments are elected
through representatives
Define statutory law, identify the purpose of statutory law, and describe how a bill becomes a
statute under federal law.
Statutory law is written law passed by a legislative body. Bills become statutes through the
legislative process of proposal, debate, and approval.
, FBLA Business Law Exam V2
2025/2026 | Complete Question and
Answer Study Guide | Legal Terms
and Concepts | Future Business
Leaders of America
Identify ways laws affect individuals, sources of law, constitutional rights and responsibilities of
U.S. citizens, and the responsibilities of government.
Laws impact individuals through rights and responsibilities. Sources include statutes,
constitutions, and common law.
Distinguish between different types of courts.
Courts vary, including trial, appellate, federal, state, and specialty courts like family or probate
courts.
Distinguish between the roles of legal professionals (e.g., judges, lawyers, and paralegals).
Judges interpret and apply the law, lawyers advocate for clients, and paralegals assist lawyers in
legal tasks.
Identify the elements of criminal, civil, and business law, including trial procedures.
Criminal law addresses offenses against society, civil law resolves disputes between individuals,
and business law focuses on commercial transactions.
2025/2026 | Complete Question and
Answer Study Guide | Legal Terms
and Concepts | Future Business
Leaders of America
Identify ethical character traits
Honesty, integrity, compassion, respect, responsibility, citizenship, and justice.
Explain the relationship between law and ethics and why they sometimes conflict.
Law and ethics both guide behavior but may conflict when legal actions are perceived as
unethical or vice versa.
Explain the differences between local, state, and federal government and the powers and
limitations of each.
Whereas the Federal Government and State governments share power in countless ways, a local
government must be granted power by the State. In general, mayors, city councils, and other
governing bodies are directly elected by the people. State and Federal Governments are elected
through representatives
Define statutory law, identify the purpose of statutory law, and describe how a bill becomes a
statute under federal law.
Statutory law is written law passed by a legislative body. Bills become statutes through the
legislative process of proposal, debate, and approval.
, FBLA Business Law Exam V2
2025/2026 | Complete Question and
Answer Study Guide | Legal Terms
and Concepts | Future Business
Leaders of America
Identify ways laws affect individuals, sources of law, constitutional rights and responsibilities of
U.S. citizens, and the responsibilities of government.
Laws impact individuals through rights and responsibilities. Sources include statutes,
constitutions, and common law.
Distinguish between different types of courts.
Courts vary, including trial, appellate, federal, state, and specialty courts like family or probate
courts.
Distinguish between the roles of legal professionals (e.g., judges, lawyers, and paralegals).
Judges interpret and apply the law, lawyers advocate for clients, and paralegals assist lawyers in
legal tasks.
Identify the elements of criminal, civil, and business law, including trial procedures.
Criminal law addresses offenses against society, civil law resolves disputes between individuals,
and business law focuses on commercial transactions.
