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ABOUT THIS BOOK AND TESTware®
This book provides you with complete preparation for the CLEP Introductory Business Law exam. Inside you will find a targeted review of the subject matter, as well as tips and strategies for test taking. We also give you two practice tests, all based on the official CLEP Introductory Business Law exam. Our practice tests contain every type of question that you can expect to encounter on the actual exam. Following each practice test you ill find an answer key with detailed explanations designed to help you more completely understand the test material.
The practice exams in this book and software package are included in two formats: in printed format in this book, and in TESTware® format on the enclosed CD for Windows-based computers. We strongly recommend that you begin your preparation with the TESTware® practice exams. The software provides the added benefits of instant scoring and enforced time conditions.
ABOUT THE EXAM
Who takes CLEP exams and what are they used for?
CLEP (College-Level Examination Program) examinations are typically taken by people who have acquired knowledge outside the classroom and wish to bypass certain college courses and earn college credit. The CLEP is designed to reward students for learning—no matter where or how that knowledge was acquired. The CLEP is the most widely accepted credit-by-examination program in the country, with more than 2,900 colleges and universities granting credit for satisfactory scores on CLEP exams.
PASSING THE CLEP INTRODUCTORY BUSINESS LAW EXAM
Althoughmost CLEP examinees are adults returning to college, many graduating high school seniors, enrolled college students, military personnel, and international students also take the exams to earn college credit or to demonstrate their ability to perform at the college level. There are no prerequisites, such as age or educational status, for taking CLEP examinations. However, because policies on granting credits vary among colleges, you should contact the particular institution from which you wish to receive CLEP credit.
There are two categories of CLEP examinations:
1. CLEP General Examinations, which are five separate tests that
cover material usually taken as requirements during the first two years of
college. CLEP General Examinations are available for English Composition
(with or without essay), Humanities, Mathematics, Natural Sciences, and
Social Sciences and History.
2. CLEP Subject Examinations include material usually covered in
an undergraduate course with a similar title. For a complete list of the subject
examinations offered, visit the College Board website.
Who administers the exam?
The CLEP tests are developed by the College Board, administered by Educational Testing Service (ETS), and involve the assistance of educators throughout the United States. The test development process is designed and implemented to ensure that the content and difficulty level of the test are appropriate.
When and where is the exam given?
The CLEP Introductory Business Law exam is administered each month throughout the year at more than 1,300 test centers in the United States and can be arranged for candidates abroad on request. To find the test center nearest you and to register for the exam, you should obtain a copy of the free booklets CLEP Colleges and CLEP Information for Candidates and Registration Form. They are available at most colleges where CLEP credit is granted, or by contacting:
P.O. Box 6600
Princeton, NJ 08541-6600
Phone: (800) 257-9558 (8 a.m. to 6 p.m. ET)
Fax: (609) 771-7088
CLEP Options for Military Personnel and Veterans
CLEP exams are available free of charge to eligible military personnel and eligible civilian employees. All the CLEP exams are available at test centers on college campuses and military bases. In addition, the College Board has developed a paper-based version of 14 high-volume/high-pass-rate CLEP tests for DANTES Test Centers. Contact the Educational Services Officer or Navy College Education Specialist for more information. Visit the College Board website for details about CLEP opportunities for military
Eligible U.S. veterans can claim reimbursement for CLEP exams and administration fees pursuant to provisions of the Veterans Benefits Improvement Act of 2004. For details on eligibility and submitting a claim for reimbursement, visit the U.S. Department of Veterans Affairs website at www.gibill.va.gov/pamphlets/testing.htm.
SSD Accommodations for Students with Disabilities
Many students qualify for extra time to take the CLEP Introductory Business Law exam, but you must make these arrangements in advance. For information, contact:
College Board Services for Students with Disabilities
P.O. Box 6226
Princeton, NJ 08541-6226
Phone: (609) 771-7137 (Monday through Friday, 8 a.m. to 6 p.m. ET)
TTY: (609) 882-4118
Fax: (609) 771-7944
Our TESTware® can be adapted to accommodate your time extension. This allows you to practice under the same extended-time accommodations that you will receive on the actual test day. To customize your TESTware® to suit the most common extensions, visit our website at www.rea.com/ssd.
HOW TO USE THIS BOOK
What do I study first?
Read over the course review and the suggestions for test-taking, take the first practice test to determine your area(s) of weakness, and then go back and focus your study on those specific problems. Studying the reviews thoroughly will reinforce the basic skills you will need to do well on the exam. Make sure to take the practice tests to become familiar with the format and procedures involved with taking the actual exam.
To best utilize your study time, follow our
Independent Study Schedule
Chapter 1 Passing the CLEP Introductory
Business Law Exam
About This Book and TESTware®
About the Exam
How to Use This Book
Format and Content of the Exam
About Our Course Review
Scoring Your Practice Tests
Studying for the CLEP
The Day of the Exam
Chapter 2 History and Sources of American Law
Origins of the Legal System
Sources of Law
Chapter 3 American Legal Systems and Procedures
Criminal Law and Civil Law
The Court System
Court Functions and Procedures
Chapter 4 Contracts
Meanings of Terms
Formation of Contracts
Contracts for the Benefi t of Third Parties
Assignment and Delegation
Statute of Frauds
Scopes and Meanings of Contracts
Breach of Contract and Remedies
Bar to Remedies for Breach of Contract
Discharge of Contracts
Illegal Contracts and Public Policy Concerns
Chapter 5 The Legal Environment
Social Responsibility of Corporations
Government Regulation and Administrative Agencies
Securities and Antitrust Law
Employment and Labor Law
International Business Law
Chapter 6 Torts
Meanings of Terms
Harms to Reputation or Economic Interests
Chapter 7 Agency, Partnerships and Corporations
Chapter 8 Sales
Meanings of Terms
Formation of UCC Contracts
Practice Test 1
Detailed Explanations of Answers
Practice Test 2
Detailed Explanations of Answers