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Exam 24: Consumer Protection

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Question 1

Multiple Choice

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Quik Collection Agency calls Pat several times a day,and sometimes in the middle of the night,about an overdue bill that Regal Sporting Goods turned over to Quik for collection.This is a violation of

A) no federal law.
B) the Fair and Accurate Credit Transactions Act.
C) the Fair Debt Collection Practices Act.
D) the Truth-in-Lending Act.

E) All of the above
F) A) and B)

Correct Answer

verified

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Question 2

True/False

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There is no distinction between regulating the information dispensed about a product and regulating the actual content of the product.

A) True
B) False

Correct Answer

verified

False

Question 3

Multiple Choice

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GR8 Fashion,Inc. ,complains to the Federal Trade Commission (FTC) about an ad broadcast by Hy-Time Clothes Company,GR8's competitor.The FTC investigates and concludes that the ad is deceptive.The FTC's next step is to

A consumer who receives unsolicited merchandise must return it within three business days.

Kirk receives an unsolicited credit card in the mail and tosses it on his desk.Without Kirk's permission,his roommate Leif uses the card to buy a new personal computer for $1,000.Kirk is

Credit can be denied solely on the basis of national origin.

Common law judicial decisions that serve to protect the interests of consumers are not classified as consumer law.

Power Up Corporation makes batteries for motor vehicles.The Federal Trade Commission (FTC)learns that Quantum Automotive Stores,a retail company that sells Power Up's batteries,engages in deceptive advertising practices.What actions can the FTC take against Quantum?

Corner Market sells groceries.Delite Food & Drug Store sells groceries and fills prescriptions.The party with the chief responsibility to prevent unsafe food and drugs from being sold is

A credit-card company is not required to provide advance notice to consumers before changing credit-card terms.

The credit department of Mega-Mart calls Nora at work about an overdue bill.Nora's employer objects.Mega-Mart continues to call Nora at work.This is a violation of

Furniture Depot sells Gail a bedroom suite on credit.Gail fails to make the scheduled payments for six months.Furniture Depot sends her a letter,asking for immediate payment.This is a violation of

Brad borrows $20,000 from City Bank to repair his home and to buy a car.Brad buys a stereo from Discount Store in a transaction financed by the seller.If these parties are subject to the Truth-in-Lending Act,Regulation Z applies to

Ron signs a contract with Sam,a door-to-door salesperson for Tutors,Inc. ,to buy a foreign-language course.To cancel the contract,Ron has up to

State laws often provide more sweeping and significant protections for the consumer than federal laws.

Bait-and-switch advertising occurs when an ad appears to be based on factual evidence but in fact is not reasonably supported by evidence.

Due to the increasing number of protections afforded debtors,creditors are without means of securing payment on debts.

Like other manufacturers and sellers,Real-Built Tools Company packages its products with labels.Under federal law,such labels must be

Consumer Finance Corporation (CFC) extends credit to consumers.CFC is subject to the Equal Credit Opportunity Act,which prohibits credit discrimination based on

Travel Tours Company faxes ads to Samantha and other individual consumers without the recipients' permission.This is subject to