Question 1

Which of the following statements express the purpose of the Truth-in-Lending Act?

Accepted Answer

A)  To require lenders to charge a "reasonable" rate of interest. 
B)  To help small business. 
C)  To provide consumers with information necessary to make the best credit decision. 
D)  To help lenders limit state laws. 
A)  To require lenders to charge a "reasonable" rate of interest. 
B)  To help small business. 
C)  To provide consumers with information necessary to make the best credit decision. 
D)  To help lenders limit state laws.

Question 2

Nestles sold a drink called Boost Kid Essentials,which contained probiotics and claimed that Boost would prevent children from getting sick or missing school,assertions for which the company had no evidence.The FTC ruled that:

Accepted Answer

A)  the advertising was not deceptive because it did contain probiotics which were good for the children's health. 
B)  the advertising was misleading,but was not likely to make a consumer really believe Boost Kids Essentials could keep their kid from getting sick. 
C)  the advertising was deceptive,and the FTC required the company to specifically stop claiming such health benefits. 
D)  None of the above 
A)  the advertising was not deceptive because it did contain probiotics which were good for the children's health. 
B)  the advertising was misleading,but was not likely to make a consumer really believe Boost Kids Essentials could keep their kid from getting sick. 
C)  the advertising was deceptive,and the FTC required the company to specifically stop claiming such health benefits. 
D)  None of the above

Question 3

Consumer credit reporting agencies are unregulated governmental agencies.

Accepted Answer

A) True 
 B)False

Question 4

The type of product that prompted passage of the Consumer Product Safety Act was:

Accepted Answer

A)  automobiles. 
B)  children's toys. 
C)  refrigerators. 
D)  food products. 
A)  automobiles. 
B)  children's toys. 
C)  refrigerators. 
D)  food products.

Question 5

The FTC may consider an act unfair if it simply violates public policy.

Accepted Answer

A) True 
 B)False

Question 6

The Federal Trade Commission Act considers the terms "deceptive" and "unfair" to be synonymous when determining what practices should be prohibited.

Accepted Answer

A) True 
 B)False

Question 7

What are the three tests or elements used by the FTC to determine whether a particular act is an unfair trade practice?

Accepted Answer

The FTC considers an act to be unfair if

Which of the following statements express the purpose of the Truth-in-Lending Act?

Nestles sold a drink called Boost Kid Essentials,which contained probiotics and claimed that Boost would prevent children from getting sick or missing school,assertions for which the company had no evidence.The FTC ruled that:

Consumer credit reporting agencies are unregulated governmental agencies.

The type of product that prompted passage of the Consumer Product Safety Act was:

The FTC may consider an act unfair if it simply violates public policy.

The Federal Trade Commission Act considers the terms "deceptive" and "unfair" to be synonymous when determining what practices should be prohibited.

What are the three tests or elements used by the FTC to determine whether a particular act is an unfair trade practice?

Introduction to Law

Business Ethics and Social Responsibility

Courts,Litigation and Alterntive Dispute Resolution

Constitutional, Statutory, Administrative, and Common Law

Intentional Torts and Business Torts

Negligence and Strict Liability

Crime

International Law

Introduction to Contracts

Contract Impediments

Conclusion to Contracts

Practical Contracts

Introduction to Sales

Negotiable Instruments

Secured Transactions

Bankruptcy

Agency Law

Employment Law

Employment Discrimination

Labor Law

Starting a Business: Llcs and Other Option

Life and Death of a Corporation

Government Regulation: Securities and Antitrust

Accountants' Liability

Environmental Law

Cyberlaw

Intellectual Property

Real Property and Tenant: Landlord Law

Personal Property and Bailment

Estate Planning

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Exam 25: Consumer Law

Which of the following statements express the purpose of the Truth-in-Lending Act?

Nestles sold a drink called Boost Kid Essentials,which contained probiotics and claimed that Boost would prevent children from getting sick or missing school,assertions for which the company had no evidence.The FTC ruled that:

Consumer credit reporting agencies are unregulated governmental agencies.

The type of product that prompted passage of the Consumer Product Safety Act was:

The FTC may consider an act unfair if it simply violates public policy.

The Federal Trade Commission Act considers the terms "deceptive" and "unfair" to be synonymous when determining what practices should be prohibited.

What are the three tests or elements used by the FTC to determine whether a particular act is an unfair trade practice?

Introduction to Law

Business Ethics and Social Responsibility

Courts,Litigation and Alterntive Dispute Resolution

Constitutional, Statutory, Administrative, and Common Law

Intentional Torts and Business Torts

Negligence and Strict Liability

Crime

International Law

Introduction to Contracts

Contract Impediments

Conclusion to Contracts

Practical Contracts

Introduction to Sales

Negotiable Instruments

Secured Transactions

Bankruptcy

Agency Law

Employment Law

Employment Discrimination

Labor Law

Starting a Business: Llcs and Other Option

Life and Death of a Corporation

Government Regulation: Securities and Antitrust

Accountants' Liability

Environmental Law

Cyberlaw

Intellectual Property

Real Property and Tenant: Landlord Law

Personal Property and Bailment

Estate Planning

Insurance

Filters