Introductory Business Law
Description of the Examination
The Introductory Business Law examination covers material that is usually taught in an introductory one-semester college course in the subject. The examination places major emphasis on understanding the functions of contracts in American business law, but also includes questions on the history and sources of American law, legal systems and procedures, agency and employment, sales, and other topics.
The examination contains 100 questions to be answered in 90 minutes. Some of these are pretest questions that will not be scored. Any time candidates spend on tutorials or providing personal information is in addition to the actual testing time.
Knowledge and Skills Required
Questions on the test require candidates to demonstrate one or more of the following abilities:
- Knowledge of the basic facts and terms (about 30-35 percent of the examination)
- Understanding of concepts and principles (about 30-35 percent of the examination)
- Ability to apply knowledge to specific case problems (about 30 percent of the examination)
The subject matter of the Introductory Business Law examination is drawn from the following topics. The percentages next to the main topics indicate the approximate percentages of exam questions on those topics.
| 5-10% | History and Sources of American Law/ Constitutional Law |
| 5-10% | American Legal Systems and Procedures |
| 25-35% | Contracts
|
| 25-30% | Legal Environment
|
| 10-15% | Torts |
| 5-10% | Miscellaneous
|
Study Resources
Most textbooks used in college-level business law courses cover the topics in the outline given earlier, but the approaches to certain topics and the emphasis given to them may differ. To prepare for the Introductory Business Law exam, it is advisable to study one or more college textbooks, which can be found in most college bookstores. When selecting a textbook, check the table of contents against the "Knowledge and Skills Required" for this test.
