1. Which of the following is not one of the functions of the Securities and Exchange Commission? a. Providing government-backed insurance to purchasers of securities. b. Bringing enforcement actions against suspected violators of securities laws. c. Regulating securities brokers and advisors. d. Investigating securities violations. e. Adopting rules to further the functions of the securities laws.

2. Which of the following is not an advantage of franchising? a.Consumers are assured of uniform product quality. b. The franchisor gets major tax advantages. c. The franchisee has access to the franchisor's knowledge and resources. d. The franchisor can reach new markets.

3. Under the National Pollutant Discharge Elimination System: a. old permits to discharge pollutants into water are being phased out. b. permits to discharge pollutants into water can be bought, sold, or traded. c. permits are granted by the EPA to discharge pollutants in water. d. no new permits are granted to discharge pollutants into water.

4. Based on duration, all LLCs can be classified as either: a. short-term or long-term. b. determined-length or undetermined-length. c. fixed-length or variable-length. d. term or at-will. e. self-determined or statute-determined.

5. Administrative agencies are often informally referred to as: a. Courts of no resort. b. The Mini Congress. c. The constitutional aberration. d. The fourth branch government. e. The rule-mongers.