Download SPMT 481 Exam Prep | Actual Questions and Answers Latest Updated 2024/2025 (Graded A+) and more Exams Sports Law in PDF only on Docsity!
SPMT 481 Exam Prep | Actual Questions and Answers Latest Updated
2024/2025 (Graded A+)
How does someone become an agent? - ✔✔find a client __ people who act as sports agents. - ✔✔25000 + About __ certified agents in the 10 major sports leagues. - ✔✔ 4000 Number of players in the NFLPA? - ✔✔ 1728 Number of certified agents in the NFLPA? - ✔✔ 1112 What is the percent of agents who represent at least 1 player in the NFLPA? - ✔✔30% Number of players in the NBAPA? - ✔✔ 360 Number of certified agents in the NBAPA? - ✔✔ 183 Number of agents who represent at least 1 player in the NBAPA? - ✔✔< Number of players in the MLBPA? - ✔✔ 1200 Number of certified agents in the MLBPA? - ✔✔ 328 Percent of agents who represent at least 1 player in the MLBPA? - ✔✔100%
What is the reason that all agents in the MLB have clients? - ✔✔you cannot become a sports agent until you have at least 1 player on the 40 man roster The number of agents is astounding, how can so many agents make a living in this business? - ✔✔they cannot Who made the conclusion regarding, "The number of agents is astounding, how can so many agents make a living in this business? The answer is, they can't" - ✔✔ed garvey What are the two questions that you need to ask yourself before becoming a sports agent? - ✔✔-how are you going to convince a player that you can do a better job than an experienced agent; - how are you going to show them that you know all of the ins and out of negotiating a contract and doing all and doing all of the other myriad things that agent does
- The "Galloping Ghost"
- Turned pro after 1925 season
- Gave immediate legitimacy to professional football Who is this referring to? - ✔✔george harold "red" grange Who did Vince Lombardi of the Green Bay Packers coach? - ✔✔jim ringo all pro hall of fame Who was held out for $167,000 each, $42,000 more than highest paid player? - ✔✔sandy koufax and don drysdale What are two pioneer sport management firms? - ✔✔international management group (IMG), proserv Who is the founder of International Management Group (IMG)? What year? - ✔✔mark mccormack, 1960
Higher salaries/income What is this referring to? - ✔✔free agency Mid-90s: Consolidation begin
- SFX Sports
- Assante Corp.
- Octagon
- Creative Artists Agency (CAA)
- Wasserman Media Group What is this referring to? - ✔✔consolidation of agency firms The fiduciary relationship which results from the manifestation of consent by one person to another that the other shall act in his behalf and subject to his contract, and consent by the other so to act. What is this referring to? - ✔✔agency One who acts primarily for the benefit of another. What is this referring to? - ✔✔fiduciary The one for whom the action is to be taken. What is this referring to? - ✔✔principal The one who acts for the principal. What is this referring to? - ✔✔agent
An agency relationship is based on a? - ✔✔specialized type of contract In order to establish an agency relationship, there must be an? What does this do? - ✔✔agreement, constitutes the contract between the parties If there is no agreement, then? - ✔✔there is no agency The agent owes his principal the __ __ of undivided loyalty, and the duty to act in good faith at __ times
- ✔✔fiduciary obligation (called the duty), all Violating a fiduciary duty creates a __ __ for the agent. - ✔✔legal liability What are two ways to create an agency relationship? - ✔✔express contract, implied contract A specific agreement between the parties that contains the agency agreement. What is this referring to? - ✔✔express contract The agreement is implied from the words or actions of the parties. What is this referring to? - ✔✔implied contract The Authority of Agent source of the power to act is ALWAYS who? - ✔✔the player The agent may only do what he/she has been authorized to do by who? - ✔✔the player What are the two types of agent authority? - ✔✔express authority, implied authority
Duration of the Agency Relationship is determined by (8)? - ✔✔for a fixed period of time, until completion of specific acts, perpetual, revocation by player, voluntary renunciation by agent, involuntary renunciation by agent, death of player or agent, mental incapacity of player or agent "Short and slick, he wears a gold chain around his neck and a diamond ring on his pinky finger; he's armed with a stream of fast talk and a package of promises to fatten his wallet at the expense of the athlete." What is this describing? Who said this? - ✔✔stereotypical agent, leigh steinberg Typical problem areas with agents (7). - ✔✔unethical solicitation, charging excessive fees, conflicts of interest, general incompetence, income mismanagement, fraud, unauthorized practice of law An act of a legislative body which declares, commands or prohibits something. - ✔✔statute Federal Statutes are passed by the? - ✔✔us congress State Statutes are passed by the? - ✔✔state legislatures 3 athletes agent statutes. - ✔✔sports agent responsibility and trust act (SPARTA), uniform athlete agent act, state athlete agents acts When was the Sports agent responsibility & Trust Act signed into law - ✔✔9/24/ Designed primarily to protect universities, not athletes. Signed into law on September 24, 2004. - ✔✔sports agent responsibility and trust act (SPARTA) The following provision is for which act?
- Prohibits certain acts
- Requires certain disclosures
- Creates civil liability for violation by agent
- States and institution have right to sue
- Liability is in addition to state statutes - ✔✔sports agent responsibility and trust act (SPARTA) Who drafted Uniform Athlete Agents Act effective in 2000? - ✔✔national conference of commissioners The following provision is for which act?
- Creates uniformity among states
- Creates reciprocity between states
- Provides criminal penalty for agent
- Provides civil liability for agent & former athlete
- University has right to sue - ✔✔uniform athlete agents act (UAAA) What does the Uniform Athlete Agents Act do? - ✔✔protect student athletes and amateur sports Most state Agent Acts are very similar, adopted from the provisions of the? - ✔✔uniform athlete agents act (UAAA) __ states (and D.C.) have passed Uniform Athlete Agents Act (UAAA). - ✔✔ 38 __ states have agent laws other than Uniform Athlete Agents Act (UAAA). - ✔✔ 3 __ state (NJ) has Uniform Athlete Agents Act pending. - ✔✔ 1 __ states (including NJ) have no agent laws. - ✔✔ 9 In 1981, __ was the first state to pass a statute to regulate athlete agents. - ✔✔california
Who regulates the Contractual Agreements in individual sports? - ✔✔whatever the player and agent agree upon Agent services (6). - ✔✔legal consultations, contract negotiation, income tax planning and preparation, financial planning and or investment advice, endorsement and other income opportunities, insurance guidance, post career development, retirement planning, estate planning, sport medicine consultations, draft preparation assistance How is the agent's fee determined (3)? - ✔✔contingent fee, hourly fee, flat fee Contingent fee (3) - ✔✔most popular, percentage of compensation under contracts, percentage above minimum salary (under CBA) When talking about contingent fee, what is the percentage of pay they can take from (5) - ✔✔salary, signing bonus, reporting bonus, roster bonus, performance incentives (no honor bonuses or collectively bargained benefits) When talking about contingent fee, what is the maximum percentage fees that an agent can take from a player in the MLBPA? - ✔✔3 to 4% When talking about contingent fee, what is the maximum percentage fees that an agent can take from a player in the NFLPA? - ✔✔3% When talking about contingent fee, what is the maximum percentage fees that an agent can take from a player in the NBPA? - ✔✔4%
