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Business Law in Canada, 12e (Yates/Bereznicki-Korol/Clarke) Chapter 1 Managing Your Legal Affairs 1) In the context of a sophisticated client, "sophisticated" can best be defined as A) complicated, self-reliant, and cosmopolitan. B) refined and cultured. C) si...

University of Manchester / BUSINESS / Business Law in Canada, 12e (Yates/Bereznicki-Korol/Clarke) Chapter 1 Managing Your Legal Affairs 1) In the context of a sophisticated client, "sophisticated" can best be defined as A) complicated, self-reliant, and cosmopolitan. B) refined and cultured. C) simple and naïve. D) confident, knowledgeable, and up to date. E) aggressive, dynamic, and forceful. Answer: D Diff: 1 Type: MC Page Ref: 2 Topic: Ch. 1 - Becoming a Sophisticated Client Skill: Recall Objective: Chapter 1: 1. Explain the meaning of "sophisticated client." Bloom&039;s Taxonomy: Knowledge 2) Which of the following best describes the likelihood of a student becoming involved in a situation necessitating legal advice? A) A student, or someone close to a student, sometimes becomes involved in such a situation. B) A student, or someone close to the student, will always become involved in such a situation. C) Because students are not business people, they never become involved in such situations. D) Because students cannot be sophisticated, they will often become involved in such situations. E) Legal advice is not available to students. Answer: A Diff: 1 Type: MC Page Ref: 3 Topic: Ch. 1 - "I Think I Need Legal Advice..." Skill: Applied Objective: Chapter 1: 1. Explain the meaning of "sophisticated client." Bloom&039;s Taxonomy: Knowledge 3) Becoming a sophisticated client will A) ensure that a business person never needs a lawyer. B) help a business person manage her legal affairs more efficiently and effectively. C) result in a business person developing a bias against lawyers. D) relieve a business person from having to conduct legal research. E) protect a business person from needing legal advice. Answer: B Diff: 2 Type: MC Page Ref: 3 Topic: Ch. 1 - "I Think I Need Legal Advice..." Skill: Applied Objective: Chapter 1: 1. Explain the meaning of "sophisticated client." Bloom&039;s Taxonomy: Knowledge 3 4) Having a good lawyer on your team is A) usually too expensive to be worthwhile. B) only necessary for large companies. C) a good alternative to becoming a sophisticated client. D) a legal requirement prior to incorporating a business. E) a critical component of being a sophisticated client. Answer: E Diff: 3 Type: MC Page Ref: 4 Topic: Ch. 1 - Becoming a Sophisticated Client Skill: Applied Objective: Chapter 1: 1. Explain the meaning of "sophisticated client." Bloom&039;s Taxonomy: Knowledge 5) Which of the following best describes the role of the lawyer? A) The lawyer makes the legal decisions for the client. B) The lawyer is simply one of the experts the businessperson consults. C) The client must follow the lawyer&039;s instructions, as long as they are lawful. D) The client makes decisions regarding civil matters; the lawyer makes decisions regarding criminal matters. 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E) The lawyer makes decisions regarding civil matters; the client makes decisions regarding criminal matters. Answer: D Diff: 2 Type: MC Page Ref: 4 Topic: Ch. 1 - The Role of the Lawyer Skill: Recall Objective: Chapter 1: 2. Examine the role of the lawyer. Bloom&039;s Taxonomy: Knowledge 9) Sophisticated clients A) do not require the services of a lawyer. B) understand the importance of the solicitor-client relationship. C) distrust and deride lawyers. D) is someone with formal legal training. E) should represent themselves, rather than paying for legal services. Answer: B Diff: 2 Type: MC Page Ref: 4 Topic: Ch. 1 - When to Hire a Lawyer Skill: Recall Objective: Chapter 1: 1. Explain the meaning of "sophisticated client." Bloom&039;s Taxonomy: Knowledge 5 10) Raman is a sophisticated client. This means that she A) understands how to manage a lawyer-client relationship. B) has a law degree. C) is a small business owner. D) manages her legal affairs without assistance from a lawyer. 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Business Law in Canada 12th Canadian Edition