Business Law - Chapter 21
Which of the following is not unlawful under the FDCPA?
Notifying the debtor of their rights
Which of the following parties are not covered by the FDCPA?
Original creditors
Which of the following is not a remedy used by the FTC to enforce the FDCPA?
Paying the consumer debt
Which of the following allows consumers to opt out of receiving unwanted calls from telemarketers?
Telemarketing and Consumer Fraud and Abuse Prevention Act
Which of the following is a primary statute designed to prevent deceptive telemarketing practices?
Telephone Consumer Protection Act
Which of the following created the Food and Drug Administration?
The Food, Drug, and Cosmetic Act
Which of the following allows a seller to disclaim both implied and express warranties under certain conditions?
UCC
Deceptive advertising as it relates to pricing is evidenced in all of the following except
advertising a sale in a local newspaper.
A representation of fact about a product is
an express warranty
"This chair is made of 100% walnut wood" is an example of
an express warranty.
The Federal Odometer Act requires defective odometers be
disclosed in writing.
Warranties can be
express or implied.
The attorney general of a state enforces _________ when it pursues violators of consumer protection lawsits statutes
its statutes
The implied warranty of merchantability applies to every sale of a product where
the seller is a merchant.
Under the ECOA, which of the following is not an unlawful factor to consider when deciding to extend credit?
Applicant's ability to repay loan
Which of the following describes a seller advertising a product for sale at a particularly good price, but the seller has no intention of selling this advertised product. Instead, he tries to get the customer to purchase a higher priced item.
Bait and switch
Food that contains a filthy, putrid, or decomposed substance or any food unfit for consumption is defined by the FDA as food.
Blank 1: adulterated
The state general typically enforces state consumer protection laws.
Blank 1: attorney
The and switch is considered a deceptive sales tactic.
Blank 1: bait
The is the party extending credit.
Blank 1: creditor
The is the party borrowing money, also called the borrower.
Blank 1: debtor
Misrepresenting the prices of a competitor is a common example of advertising as it relates to prices.
Blank 1: deceptive, unfair, or false
Using bold print and capital letters are common ways to a warranty.
Blank 1: disclaim
A(n) warranty is a factual statement about a good's quality or effectiveness.
Blank 1: express or expressed
Historically, the only protection a consumer had against a deceitful seller of goods was a common law action for
Blank 1: fraud
The UCC defines a(n) as one who is regularly engaged in the sale of a particular product.
Blank 1: merchant
The CCPA has components that regulate credit transactions between a creditor and a borrower.
Blank 1: six
A federal cause of action provides for federal court to have jurisdiction over a lawsuit.
Blank 1: subject Blank 2: matter
Under the FDCPA, a consumer may a collection agency directly as well as recovering attorney fees.
Blank 1: sue or prosecute
A(n) disclosure informs a debtor of certain rights when a collection agency makes initial contact about the debt.
Blank 1: validation
Which of the following sources of federal legislation is considered the centerpiece of consumer credit transaction protection?
Consumer Credit Protection Act
Which of the following was created to provide oversight and regulation of consumer lending practices?
Consumer Financial Protection Bureau
Which of the following is focused on keeping products safe and informing consumers of dangers associated with consumer products?
Consumer Product Safety Commission
Which of the following are regulated under the Consumer Credit Protection Act?
Consumer credit reporting and debt collection from consumers
Charging higher interest rates based on discriminatory factors is illegal under the ______.
ECOA
Which of the following was created to combat discrimination in lending practices?
Equal Credit Opportunity Act
Drugs approved by the FDA are subject to which of the following agency's advertising regulations?
FDA
Which of the following investigates a public outbreak of illnesses associated with contaminated food?
FDA
Which of the following is considered the primary enforcer of federal consumer debt collection statutes?
FTC
Which of the following is a remedy for deceptive advertising?
FTC regulation
Which of the following legislation regulates consumer debt collection tactics?
Fair Debt Collection Practices Act
Which of the following is prohibited by the FTC?
Fake testimonials
True or false: Pricing advertisements are not subject to consumer protection regulations.
False
Which act provides for criminal punishment for changing the mile counter device in a motor vehicle?
Federal Odometer Act
The Consumer Financial Protection Bureau is an independent agency housed within the:
Federal Reserve
Which of the following is considered one of the first statutory protections for American consumers?
Federal Trade Commission Act
The ______ was created to regulate the testing, manufacturing and distributing of foods, medications, medical devices and cosmetics.
Food and Drug Administration (FDA)
Which of the following statements is correct about the bait and switch sales tactic?
Government authorities have gotten more aggressive about investigating such claims.
Which of the following presented the need for Congress to pass the Consumer Product Safety Act?
Injuries and deaths caused by defective products
Which of the following is correct regarding a federal cause of action?
It gives a plaintiff the right to sue a violator in federal court It gives a federal court subject matter jurisdiction
