1.If an agency agreement did not specify how much an agent would be paid for his work, the principal has a _?

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the”customary” amount.
a. duty to cooperate
b. duty to compensate
c. duty to reimburse
d. duty to indemnify
e. none of the above would apply

2.The Fair Debt Collection Practices Act prohibits the following by debt collectors except:
a. harassing, late-night phone calls
b. discussing a debt with neighbors
c. publication of a list of debts owed
d. threatening violence if a debt is not paid
e. all of the above are prohibited

3.When liability is imposed on the principal for the unauthorized torts of an agent, it is called:
a. vicarious liability
b. indemnification
c. agent respondeat
d. third-party rights, duties, and liabilities
e. none of the above

4.The primary focus of the GATT and WTO negotiations has been:
a. to reduce exchange rate fluctuations
b. to increase anti-competitive behaviors
c. to promote the use non-tariff barriers
d. to develop world-wide rules on human rights
e. none of these

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