LLM Master of Laws MCQ 3

Question 1

Under WTO law, the Most-Favored-Nation (MFN) obligation in GATT Article I requires a member to:

Accepted Answer

Extend any trade advantage granted to one country to all WTO members immediately

Answer

MFN requires that any trade advantage, favour, privilege, or immunity granted to any country must be accorded immediately to all WTO members.

Question 2

In US securities law, Rule 10b-5 under the Securities Exchange Act of 1934 primarily prohibits:

Accepted Answer

Insider trading based on material non-public information and securities fraud

Answer

Rule 10b-5 is the SEC's broad anti-fraud rule prohibiting misrepresentations, omissions, and manipulative devices in connection with securities transactions.

Question 3

A 'hardship' clause in an international commercial contract typically entitles the affected party to:

Accepted Answer

Request renegotiation when a fundamental change of circumstances occurs

Answer

Hardship clauses, as described in the UNIDROIT Principles, entitle the affected party to request renegotiation when events fundamentally alter the equilibrium of the contract.

Question 4

Under the EU General Data Protection Regulation (GDPR), the 'right to be forgotten' is more precisely known as:

Accepted Answer

The right to erasure under Article 17

Answer

Article 17 GDPR grants data subjects the right to erasure ('right to be forgotten') in specified circumstances.

Question 5

In US immigration law, an L-1A visa is designed for:

Accepted Answer

Intracompany transferees in managerial or executive positions

Answer

The L-1A visa allows multinational companies to transfer managers and executives from a foreign affiliate to a US office.

LLM - Master of Laws Practice Test

LLM - Master of Laws Practice Test

LLM Master of Laws MCQ 3