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Questions # 1:

What is the term used to refer to a special form of contract whereby one party guarantees the performance by a second party of certain obligations and what is the term used to refer to the first party?

Options:

A.

The contract is a surety and the first party is referred to as the bond.

B.

The contract Is a bond and the first party Is referred to as the surety.

C.

The contract Is a surety and the first party is referred to as the oblige.

D.

The contract is a bond and the first party is referred to as the principal.

Questions # 2:

A licensed professional Is a mediator at a firm specializing in resolving contractual disputes between Businesses. Recently, the professional was assigned to be Die mediator In a business contract dispute Involving their father-In-taw's company.

What is the most reasonable course of action for the professional to take?

Options:

A.

Resign from the assignment citing personal and confidential reasons.

B.

Continue on with the assignment, ensuring they maintain an unbiased approach.

C.

Immediately announce their relationship and remove themselves from the assignment.

D.

Immediately announce their relationship and continue with the process, ensuring an unbiased approach.

Questions # 3:

A "letter of Intent" can be considered an enforceable contract, provided It:

Options:

A.

contains essential terms of a contract.

B.

is dated and witnessed by both parties.

C.

has been prepared by a legally competent parson.

D.

Includes representations and warrants.

Questions # 4:

In which of the following situations Is It necessary that a professional be Informed that his or her work Is being reviewed?

Options:

A.

When public safety is involved

B.

When proprietary matters such as trade secrets are involved

C.

When a lawyer requests the review under solicitor-client privilege

D.

When an association conducts a practice review to ensure continuing competency

Questions # 5:

A "dummy run" for commercial software is best described as

Options:

A.

sample testing performed by a non-expert user

B.

a full-scale duplication of the computation with different software, hardware, and Inputs

C.

the application of analytical calculations of a simpler model and comparing them with the software's result

D.

a basic check on the program's computation, using nominal entries such as zeroes or ones, to get a known answer

Questions # 6:

A licensed professional prepared a research project proposal for their employer, Alton University. The professional had signed a non-disclosure clause, which bound them from disclosing any proprietary or confidential Information related to the project proposal. When Blaney University won the project and advertised for a qualified professional to Join the project, the professional applied. During the interview, the professional disclosed their involvement with the Alton University research project proposal.

Is their disclosure potential malpractice that the interviewer should report to the professional regulator?

Options:

A.

It Is not potential malpractice as long as they always followed the non-disclosure terms.

B.

It is potential malpractice because their involvement in the project proposal was confidential.

C.

It Is potential malpractice Because they could transfer proprietary knowledge and the regulator needs to be advised in order to eliminate potential liability for the Blaney research project.

D.

It Is not potential malpractice as sharing what they know about research streams in the Alton proposal that could prove successful but that were not considered in the Blaney's proposal Is Justified.

Questions # 7:

In what order should the following steps of the professional's duty to report be followed when a licensed professional observes an unsafe, unethical, or Illegal environmental incident^

1. Dad do whether the problem Is caused by an Individual or by the situation and what the simplest remedial action would be.

2. Consult with the appropriate professional regulator for further guidance.

3. The professional should have a direct, but Informal personal conversation with his or her Immediate supervisor on a proposed solution. Escalate through the chain of command, If necessary.

4. Assess the situation.

Options:

A.

1, 2, 3, 4

B.

2, 1, 4, 3

C.

4, 1, 3, 2

D.

4, 3, 1, 2

Questions # 8:

Which of the following statements regarding expert witnesses is incorrect?

Options:

A.

They have an obligation to remain neutral.

B.

They can testify about the standard of care required by a contract.

C.

They cannot charge a fee that Is dependent on the outcome of the case.

D.

They cannot be hired by a defendant or plaintiff and must be appointed by the court.

Questions # 9:

Professional geoscientist Bev has been a contract employee for ABC Mining Co. for the past eight years. Recently, she was the lead due diligence investigator on the potential acquisition of the Bon u view Mine. XYZ Mining, a major competitor of ABC Mining, subsequently acquires the Beau view Mine. Shortly thereafter, Bev's manager Indicates that there may soon be a downsizing In ABC Mining's geology deportment due to the unsuccessful acquisition of the Beouview Mine. The next day, XYZ Mining offers Bev a position identical to the one she has with ABC Mining but with a batter overall compensation package.

What action should Bev take to ensure that this offer is handled ethically?

Options:

A.

Disclose to her manager at ABC Mining that she has been offered a job opportunity while she considers the XYZ Mining offer.

B.

Give her notice of resignation well in advance of the time Indicated in her contract once she accepts the XYZ Mining offer.

C.

Disclose XYZ Mining's job offer terms to her manager at ABC Mining while she considers the XYZ Mining offer.

D.

Assure ABC Mining that there will be no conflict of Interest after starting the new Job at XYZ Mining.

Questions # 10:

A certain licensed professional consultant provides services to the public. In order to reduce the risk of litigation by the client, the most Important thing for the professional to do is to ensure

Options:

A.

that they have a detailed, written contract with every client

B.

they are registered as a professional member with their regulator

C.

that they are protected with a comprehensive, all-risk insurance policy

D.

they only accept contracts in competency areas where they arc a subject matter expert

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