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Multiple Choice Quiz
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1
A __________ power of attorney grants the agent express authority over specifically-outlined acts, while a __________ power of attorney allows the agent to conduct all business for the principal.
A)restrained; carte blanche
B)Carte blanche; restrained
C)Special; general
D)General; special
2
When a third party is aware an agent is making an agreement on behalf of a principal and also knows who the principal is, the principal is said to be __________.
A)Identified
B)Disclosed
C)Unveiled
D)Revealed
3
If a third party does not know an agent is acting on behalf of a principal, the principal is said to be __________.
A)Veiled
B)Hidden
C)Incognito
D)Undisclosed
4
If an agent makes a(n) __________ departure from the course of the employer's business, the employer is not liable.
A)Work-related
B)Insubstantial
C)Substantial
D)Suitable
5
If a third party is able to establish employee negligence such that the employer is liable, the employer has the right to recover from the employee any damages he paid to the third party; such right to recover damages is referred to as the right of __________.
A)Indemnification
B)Contribution
C)Litigation
D)Equity
6
If the principal authorizes the agent to engage in an act and the agent misrepresents herself intentionally or unintentionally, the principal is __________ liable in tort to someone who relied on the agent's misrepresentation.
A)Never
B)Sometimes
C)Always
D)Conditionally
7
Which of the following is not an occurrence that will terminate an agency relationship?
A)Lapse of time
B)Fulfillment of purpose
C)Mutual agreement by the parties
D)All of the above occurrences will terminate an agency relationship
8
Which of the following is not an occurrence that will terminate an agency relationship?
A)Death
B)Insanity
C)Bankruptcy
D)All of the above occurrences will terminate an agency relationship
9
Which of the following is classified as termination by "operation of law?"
A)Bankruptcy
B)Lapse of time
C)Fulfillment of purpose
D)Mutual agreement by the parties
10
Which of the following is classified as termination by "acts of the parties?"
A)Insanity
B)Bankruptcy
C)Revocation of authority
D)War





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