Chapter 15 – The Regulatory Process Questions

Administrative agencies have either quasi-legislative regulatory authority or quasi-judicial regulatory authority, but they cannot have both.

Expertise beyond Congress is required to develop sound policies and proper decisions in response to problems in different areas regulated by the law.

Advisory opinions of an administrative agency are as binding as formal rulings.

In exercising their investigative functions, administrative agencies are excluded from using subpoena powers.

To establish standing, the challenging party must address issues relating to the reviewability of a decision and the aggrieved party involved.

The general language used in delegating quasi-judicial authority usually involves grants of substantial discretion to an agency.

According to the doctrine of the exhaustion of remedies, judicial review is available only for final actions by an agency.

For the courts to exercise their function of limited review, an agency must provide a record that sets forth the reasons and basis for its decision.

The primary focus of policymaking by way of regulation has been on balancing the costs of regulatory programs with their potential benefits.

All levels of government have grown larger and more complex in the twenty-first century.

Which of the following type of regulatory authority issues rules that have the impact of laws?

Choose the statement below that is true of administrative agencies?

Which of the following federal agencies protects the public from anticompetitive behavior and unfair and deceptive business practices?

Which of the following is true of the Occupational Safety and Health Administration (OSHA)?

Which federal agency promotes dependable, affordable energy through sustained competitive markets?

Administrative agencies are needed to provide all of the following except_______.

The government relies on administrative agencies for ________, which is/are necessary to develop sound policies and provide solutions and management for problems.

Business often fails to regulate itself, and the lack of self-regulation is contrary to the public interest. To counterbalance, administrative agencies exist to

The ______ function of an administrative agency involves both fact-finding and applying law to the facts.

Which of the following is an order that an agency imposes on a violator to stop an objectionable activity and refrain the violator from any further violations?

The Federal Reserve Board (FRB) found that Parson Inc., a newly established financial company, had violated banking laws. The company was involved in transactions that were prohibited by the United States government. Along with imposing a hefty fine, the FRB issued an order on Parson to stop the nature of such objectionable transactions and ordered the firm to refrain from indulging in such transactions in the future. This order is an example of a(n) ______.

Which of the following statements is true of a consent order?

Which of the following statements is true of the functionality of agencies providing services?

The Securities and Exchange Commission (SEC) primarily functions as a(n) ______ body, which oversees the issue and sale of investment securities.

Administrative law judges are