chapter 19
The Consumer Credit Protection Act was passed in: a. 1909 b. 1928 c. 1948 d. 1958 e. 1968
1968
The FDA began issuing regulations for nutrition labeling in: a. 1909 b. 1940 c. 1970 d. 1973 e. 1990
1970
Prior to the Food and Drug Administration's creation in 1927, the administered the Food and Drug Act. a. Bureau of Chemistry of the Department of Agriculture b. Bureau of Land Management c. Bureau of Food and Drug Regulation d. Bureau of Consumables of the Department of Agriculture e. Bureau of Food of the Department of Agriculture
Bureau of Chemistry of the Department of Agriculture
medical devices are things presenting minimal potential for harm to the user and are usually of simple design, such as bandages and gloves. a. Class I b. Class II c. Class III d. Generic e. Common
Class I
The ______ provides standard terms for leases. a. Truth-in-Lending Act b. Consumer Leasing Act c. Consumer Buying Act d. Consumer Renting Act e. Consumer Lease Regulation Act
Consumer Leasing Act
The to the Food and Drug Act gave the FDA authority for the first time to approve drugs based on their proven effectiveness. a. Kefauver Amendment of 1962 b. Food, Drug and Cosmetics Amendment of 1964 c. Effectiveness Amendment of 1962 d. Madison Amendment of 1962 e. Drug Efficacy Amendment of 1964
Kefauver Amendment of 1962
The Food Additives Amendment (Delaney Clause) to the Food, Drug, and Cosmetic Act: a. prohibited the use of food additives in food sold for consumption by humans b. gave the U.S. Department of Agriculture the authority to study food additives and make the findings public c. prohibited the FDA from regulating "natural foods" d. prohibited the FDA from regulating food additives e. None of the above
None of the above
The Consumer Credit Protection Act was the first major federal legislation on consumer credit. a. True b. False
True
The Delaney Clause (the Food Additives Amendment) allows the FDA to regulate food additives. a. True b. False
True
The Kefauver Amendment of 1962 requires the FDA to approve drugs based on proven effectiveness, not just safety. a. True b. False
True
The first law under the Consumer Credit Protection Act was: a. Truth-in-Lending Act (TILA) b. Fair Credit Reporting Act c. Equal Credit Opportunity Act d. Electronic Funds Transfer Act e. none of the other choices
Truth-in-Lending Act (TILA)
Which of the following agencies has primary responsibility for sanitation of meat, poultry, and eggs: a. U.S. Chemistry Bureau b. U.S. Food Bureau c. U.S. Department of Agriculture d. U.S. Department of Food and Drugs e. U.S. Department of Meat
U.S. Department of Agriculture
The Consumer Leasing Act would apply to which of the following leases: a. living room furniture for three months b. an apartment for a year c. a car for a week d. a big-screen television for a year e. all of the other choices would be covered if for personal, not business, use
a big-screen television for a year
What is not a feature of the Consumer Credit Protection Act: a. abusive debt collection tactics are limited b. credit reporting agencies must follow certain rules about accuracy in consumer reports c. creditors must follow certain procedures for handling charges disputed by consumers d. creditors must disclose all relevant terms in credit transactions e. all of the other choices are features of the Act
all of the other choices are features of the Act
Which of the following is an example of a class II medical device: a. surgical materials b. wheelchairs c. x-ray machines d. all of the other specific choices are correct e. none of the other specific choices are correct
all of the other specific choices are correct
Which of the following is true about class I medical devices: a. the makers are registered with the FDA b. the goods must be properly manufactured c. the goods must be properly labeled d. the goods are not subject to extensive controls e. all of the other specific choices are correct
all of the other specific choices are correct
Which of the following is NOT a required disclosure under the Consumer Leasing Act: a. number, amount, and period of the payments and the payment total b. express warranties offered by the leasing party or the manufacturer of the leased property c. identification of the party responsible for maintaining the leased property d. all of the other specific choices are required e. none of the other specific choices are required
all of the other specific choices are required
Under the Fair Credit Reporting Act, a consumer reporting agency (credit bureau) must: a. allow consumers to see credit ratings of businesses b. allow consumers to see information about them that results in their being denied credit c. allow any citizen (or business), without discrimination, to obtain a copy of a consumer report on any person d. allow consumers to see credit ratings of businesses and allow any citizen (or business), without discrimination, to obtain a copy of a consumer report on any person e. allow consumers to see information about them that results in their being denied credit and allow any citizen (or business), without discrimination, to obtain a copy of a consumer report on any person
allow consumers to see information about them that results in their being denied credit
The Consumer Leasing Act: a. applies to most apartment leases b. only applies to leases for less than $25,000 c. only applies to leases lasting longer than four months d. applies to leases for less than $25,000 and applies to leases lasting longer than four months e. applies to leases for less than $25,000 and applies to leases lasting longer than four months and applies to most apartment leases
applies to leases for less than $25,000 and applies to leases lasting longer than four months
The 1962 Kefauver Amendment to the Food and Drug Act gave the FDA authority for the first time to: a. approve drugs based on their proven effectiveness b. license the use of drugs in physician offices c. determine which drugs are to be prescription drugs d. approve drugs based on their safety e. none of the other choices
approve drugs based on their proven effectiveness
What is not a feature of the Consumer Credit Protection Act: a. abusive debt collection tactics are limited b. credit reporting agencies must follow certain rules about accuracy in consumer reports c. creditors must follow certain procedures for handling charges disputed by consumers d. creditors may not charge interest rates that exceed the federal maximum rates e. all of the other choices are features of the Act
creditors may not charge interest rates that exceed the federal maximum rates
The Consumer Leasing Act does not apply to leases for: a. automobiles b. televisions and other home electronics c. furniture for a dentist's office d. automobiles and furniture for a dentist's office e. all of the other specific choices are not covered by the Act
furniture for a dentist's office
The Food Additives Amendment (Delaney Clause) to the Food, Drug, and Cosmetic Act: a. prohibited the use of food additives in food sold for consumption by humans b. gave the U.S. Department of Agriculture the authority to study food additives and make the findings public c. gave the FDA authority to set safe use levels of food additives d. prohibited the FDA from regulating food additives e. did none of the other choices
gave the FDA authority to set safe use levels of food additives
The intent of the Nutrition Labeling and Education Act is to: a. make people eat healthier food b. make people buy more packaged food c. help consumers make informed purchases d. prevent consumers from making informed purchases e. help companies sell their food products
help consumers make informed purchases
The Fair Credit Reporting Act: a. applies to anyone giving financial information about another person b. provides a statutory right for anyone to obtain a credit report about another person, so long as all parties involved are notified c. regulates interest rates on consumer credit d. all of the other specific choices e. none of the other choices
none of the other choices
The intent of the Nutrition Labeling and Education Act is to: a. make people eat healthier food b. make people buy more packaged food c. help companies sell their food products d. prevent consumers from making informed purchases e. none of the other choices are correct
none of the other choices are correct
The Consumer Leasing Act applies to consumer leases for all of the following except a lease: a. of living room furniture for two months b. of a car for two years c. of a computer for a year d. of a big-screen television for six months e. all of the other choices are covered if for personal use
of living room furniture for two months
The intent of the Nutrition Labeling and Education Act is to: a. make people eat healthier food b. make people buy more packaged food c. prevent misleading product claims d. prevent consumers from making informed purchases e. help companies sell their food products
prevent misleading product claims
Federal regulation of the relationship between consumers and creditors is based on an umbrella law that contains many credit laws: a. the Truth-in-Lending Act b. the Consumer Credit Protection Act c. the Equal Credit Opportunity Act d. the Fair Consumer Credit Act e. none of the other choices
the Consumer Credit Protection Act
Credit bureaus are regulated by: a. the Fair Credit Reporting Act b. the Legitimate Credit Reporting Act c. the Credit CARD Act d. Congress e. none of the other choices are correct
the Fair Credit Reporting Act
Under the Consumer Leasing Act, which of the following must be given before a consumer becomes obligated under a lease? a. the identity of the party responsible for maintaining the property b. the name of the leaser's agent who is authorized to sign the lease c. the name of the leaser's bank d. the address and relation of the leaser's credit agency e. all of the other choices must be provided
the identity of the party responsible for maintaining the property
Which of the following is NOT a required disclosure under the Consumer Leasing Act: a. number, amount, and period of the payments and the payment total b. express warranties offered by the leasing party or the manufacturer of the leased property c. identification of the party responsible for maintaining the leased property d. the number of leases both parties are involved in e. all of the other specific choices are required
the number of leases both parties are involved in
Under the Fair Credit Reporting Act, consumer bureaus may sell consumer credit reports to: a. anyone willing to pay for one b. any person or business who signs an affidavit attesting to legitimate use of the information c. any person or business who signs an affidavit attesting to legitimate use of the information, knowing that the fact of the purchase is public record d. those needing reports for legitimate business needs e. firms that comply with the Truth-in-Lending Act's disclosure rules
those needing reports for legitimate business needs
The Nutrition Labeling and Education Act applies: a. to more than 250,000 products b. only to nutritional supplements such as herbal remedies c. primarily to foods with a high-fat content d. only to "inorganic" produce e. only to nutritional supplements such as vitamins
to more than 250,000 products
Once the FDA has approved a drug for sale there may be no liability imposed on the drug manufacturers for side- effects that were revealed during the testing process. a. True b. False
False
The Department of Agriculture has primary responsibility for sanitation of foods; the FDA focuses on food additives. a. True b. False
False
The Kefauver Amendment of 1962 requires the FDA to approve drugs based on their proven safety. a. True b. False
False
The _______ required the FDA to issue nutrition labels. a. Nutrition Marking Act b. Nutrition Announcement Act c. Nutrition Content Communication Act d. Nutrition Assurance Act e. Nutrition Labeling and Education Act
Nutrition Labeling and Education Act
Medical devices approved by the FDA before being sold and then monitored for problems. a. True b. False
True
The most heavily controlled medical devices are: a. class I b. class II c. class III d. restricted class e. high class
class III
The Consumer Leasing Act would apply to which of the following leases: a. living room furniture for three months b. an apartment for a year c. a car for a week d. a Hilton Hotel in Hawaii for six months e. none of the other choices
none of the other choices
The Fair Credit Reporting Act: a. applies to anyone giving financial information about another person b. provides a statutory right for anyone to obtain a credit report about another person, so long as all parties involved are notified c. regulates consumer credit bureaus d. applies to anyone giving financial information about another person and provides a statutory right for anyone to obtain a credit report about another person, so long as all parties involved are notified e. applies to anyone giving financial information about another person and provides a statutory right for anyone to obtain a credit report about another person, so long as all parties involved are notified and regulates consumer credit bureaus
regulates consumer credit bureaus
Nutrition labeling does not require which of the following to be listed per serving portion: a. total fat b. fiber c. calcium d. riboflavin e. carbohydrates
riboflavin
The Food Additives Amendment to the Food, Drug and Cosmetic Act is known as: a. the Delaney Clause b. the Harrison Clause c. the Additive Clause d. the Preservative Clause e. the Additive Substances Clause
the Delaney Clause
The Food Additives Amendment (Delaney Clause) to the Food, Drug, and Cosmetic Act was replaced by the Food Quality Protection Act in 1996 because the Delaney Clause: a. was not strict enough b. was too strict c. only applied to food and drug producers contracting with the government d. did not apply to food and drug producers contracting with the government e. did not bring about the economic growth it was expected to spark
was too strict
When the Consumer Credit Protection Act was passed in 1968 there was about $100 billion worth of consumer credit outstanding; not the figure is about: a. $200 billion b. $300 billion c. $1 trillion d. $2.5 trillion e. $5 trillion
$2.5 trillion
Under the ________, credit reporting services must allow consumers to see their credit reports annually for free. a. Free Trade Act b. Fair and Accurate Credit Transactions Act c. Fair and Open Credit Act d. Fair Credit Reporting Act e. True and Fair Credit Transactions Act
Fair and Accurate Credit Transactions Act
. The Department of Agriculture has primary responsibility for sanitation of meats and poultry; the FDA has responsibility for most other foods. a. True b. False
True
Medical devices are subject to FDA regulation. a. True b. False
True
The Consumer Leasing Act applies to consumer leases for all of the following except a lease: a. of living room furniture for 18 months b. of a car for two years c. of a computer for a year d. of a big-screen television for six months e. all of the other choices are covered if for personal use
all of the other choices are covered if for personal use
Nutrition labeling does not require which of the following to be listed per serving portion: a. total fat b. fiber c. calcium d. carbohydrates e. all of the other choices must be listed
all of the other choices must be listed
