1. What does the term "boilerplate language" mean?
a) A legal term used in a contract.
b) Standard language in a legal document that is identical in similar instruments.
c) A dish that is extremely hot.

2. What is an " executory contract"?
a) A contract that has not yet been fully completed or performed.
b) A contract that has been executed.
c) A document stating how a person will be killed.

3. What is an "exculpatory clause" in a contract?
a) An agreement between two parties
b) A clause in a contract that implicates an individual
c) A contract clause which releases one of the parties from liability for his or her wrongful acts. Such a clause is common in leases, contracts and trusts.

4. What does the term " free and clear property" refer to?
a) The title of property that is not encumbered by any liens.
b) A property that can be obtained free of charge.
c) A property that has been dully registered with state and federal agencies.

5. Explain the term "Judicial Notice."
a) A notice given by a judge or the Justice Department
b) An act in which a court will on its own motion or on request of a party, and without the production of evidence recognize the truth of certain facts or things which are universally regarded as established by common notoriety. e.g. inature, events, geography, etc.
c) Statements in the body of a pleading, which set forth that facts to be proven at trial.

6. What doe the term "misnomer" mean?
a) A mistake in a court proceeding
b) The wrong name for an object
c) A misnomer is a mistake in a mane, giving an incorrect name to person in accusation, indictment, pleading, deed or other instrument.

7. Which person in a mortgage, is the "mortgagee"?
a) The person that takes, holds, or receives the mortgage.
b) The person that gives, or awards the mortgage.
c) The banker.

8. What is no-fault insurance?
a) A type of home insurance that covers tornadoes, floods and earthquakes.
b) A type of automobile insurance in force in many states, wherein each person's own insurance company pays for injury or damage up to a certain limit regardless if it is the insured who was actually at fault.
c) A type of home insurance that covers everything but tornadoes and earthquakes.

9. What is a "nominal partner"?
a) A nominal partner is a person who appears to be a partner in the firm, or is so represented to persons dealing with the firm or who allows his name to appear in the style of the firm, or to be used in its business,in the character or a partner, but who has no actual interest in the firm or business.
b) A partner in a firm whose name appears in the name of the firm.
c) A partner in a firm who was named a partner in the firm by the other firm's partners.

10. What is a "pecuniary interest"
a) It is a direct interest related to money in an action or case as would, for example require a judge to disqualify himself from sitting on a case if he owned stock in a corporate party.
b) The interest on a check issued by the authorized officer of a bank.
c) A share of ownership in a poultry business.

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