Exam 23: Consumer Protection

Which of the following would constitute false advertising under the FTC Act?

Firearms represent an example of consumer products that do not come under the Consumer Product Safety Commission (CPSC)rules.

The U.S.Food and Drug Administration promotes the principle of caveat emptor in sales transactions involving food and drugs.

________ requires restaurants and retail food establishments with twenty or more locations to disclose calorie counts of their food items on menus and menu boards.

The Patient Protection and Affordable Care Act (PPACA)was amended by the Health Care and Education Reconciliation Act.The amended act is commonly referred to as the ________ Act of 2010.The goal of this act was to increase the number of persons who have health care insurance in the United States.

The Nutrition Labeling and Education Act (NLEA)applies to packaged foods and other foods regulated by the ________.

Casual leases between consumers are subject to the Consumer Leasing Act (CLA).

The Federal Trade Commission (FTC)created and administers the ________,on which consumers can place their telephone numbers and free themselves from most unsolicited telemarketing and commercial telephone calls.

The ________ Act of 2010 is a federal statute that requires increased disclosure of credit information and terms to consumers and regulates consumer credit providers and others.

A person of a specific religion is protected from credit extension discrimination by the ________ Act.

How does the Mortgage Reform and Anti-Predatory Lending Act of 2010 help regulate mortgage transactions?

Which of the following federal statutes requires creditors to disclose finance charges,including interest,points,and other fees paid for the extension of credit to debtors?

At the food processing company where Mika works,his primary job responsibility is to review the quality of preservatives that are used in the food products being made.A new and highly recommended preservative that has the potential to preserve food longer without refrigeration was approved by Mika.However,Mika failed to identify that the substance used to make the particular preservative was banned.The food product was released into the market with the preservative containing the banned substance.Which of the following agencies has the power to enact the statutes that govern such violations?

Section 4205 of the Patient Protection and Affordable Health Care Act of 2010 requires restaurants and retail food establishments with 20 or more locations to disclose calorie counts of their food items.

The ________ is an independent federal administrative agency empowered to conduct research on the safety of consumer products.

Give an account of the Consumer Financial Protection Act of 2010.

The mislabeling of medicinal devices is prohibited under the Nutrition Labeling and Education Act.

At the food processing company where Mika works,his primary job responsibility is to review the quality of preservatives that are used in the food products being made.A new and highly recommended preservative that has the potential to preserve food longer without refrigeration was approved by Mika.However,Mika failed to identify that the substance used to make the particular preservative was banned.If the food product is released with this new preservative,which of the following provisions of the Nutrition Labeling and Education Act (NLEA)would help consumers identify the banned preservative prior to consumption?

The ________ applies to lessors who engage in leasing or arranging leases for consumer goods in the ordinary course of their business.

Regulation Z is an administrative agency regulation that sets forth detailed rules for compliance with the ________ Act.