Introductory Business Law CLEP Prep Practice Exam

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Prepare for the Introductory Business Law CLEP Exam. Study with flashcards and multiple choice questions, each question comes with hints and explanations. Ace your exam with confidence!

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What is another name for an employment agreement?

Statement of Work
Employee Handbook
Contract of Employment
Non-Compete Agreement

The correct answer is: Contract of Employment

An "employment agreement" is also known as a "contract of employment." This is because it outlines the terms and conditions of employment between an employer and an employee. Option A, "Statement of Work," is typically used in the context of a project or consulting agreement, where specific work and deliverables are outlined. Option B, "Employee Handbook," is a document that contains company policies and procedures, but does not specifically cover the agreement between an employer and an employee. Option D, "Non-Compete Agreement," is a separate document that restricts an employee from working for a competitor or starting a competing business after leaving their current job. It is not synonymous with an employment agreement. Therefore, option C is the most accurate answer.