The Number 1

question 1

Multiple Choice

The number 1.5 * 10⁴ can also be written as

• A) 0.00015
• B) 0.0015
• C) 1,500
• D) 15,000
• E) 150,000

Identify the differences between an agent and an employee and the legal implications thereof.

Analyze situations to determine when a principal is or is not bound by the actions of an agent.

Understand the concepts of actual, implied, and apparent authority and how they affect the liability and responsibilities of agents and principals.

Recognize the legal consequences of an agent’s breach of fiduciary duty.

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Definitions:

Security of Records

Measures put in place to protect records, both physical and electronic, from unauthorized access, theft, or damage.

Compliance Officers

Professionals responsible for ensuring that organizations adhere to legal standards and internal policies.

Indigents

Individuals lacking in basic resources such as food, clothing, and shelter due to poverty.

Social Security Amendments

Changes or modifications made to the laws governing social security, aimed at updating, improving, or expanding benefits provided to citizens.