Question 1

"Bait and switch" is:

Accepted Answer

A)  advertising a product for sale and then giving a rain check. 
B)  placing the store brand and the national brand side-by-side in a store. 
C)  selling the store brand at a lower price than the national brand. 
D)  the act of advertising certain goods and then pressuring the customer to buy different, more expensive goods. 
A)  advertising a product for sale and then giving a rain check. 
B)  placing the store brand and the national brand side-by-side in a store. 
C)  selling the store brand at a lower price than the national brand. 
D)  the act of advertising certain goods and then pressuring the customer to buy different, more expensive goods.

Question 2

The Fair Debt Collection Practices Act prohibits which of the following practices?

Accepted Answer

A)  A debt collector falsely representing himself as a lawyer. 
B)  A debt collector telephoning the debtor at 8:00 a.m. 
C)  Visiting a debtor at work if the employer permits personal visits. 
D)  Using neighbors to locate the debtor. 
A)  A debt collector falsely representing himself as a lawyer. 
B)  A debt collector telephoning the debtor at 8:00 a.m. 
C)  Visiting a debtor at work if the employer permits personal visits. 
D)  Using neighbors to locate the debtor.

Question 3

Brooke uses her credit card to purchase a lawn mower at the local "big box" hardware store,but when she tries to use the mower for the first time,she finds it is not self-propelled as advertised.Does she have any recourse?

Accepted Answer

Since Brooke used a credit card for the

Question 4

The Consumer Leasing Act requires a lessor to disclose in writing all EXCEPT:

Accepted Answer

A)  number of payments. 
B)  penalties for late payments. 
C)  lease rates of the competition. 
D)  penalties for early termination. 
A)  number of payments. 
B)  penalties for late payments. 
C)  lease rates of the competition. 
D)  penalties for early termination.

Question 5

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 6

Explain the difference between a debit and a credit card and discuss the potential liability for a lost or stolen card.

Accepted Answer

A credit card evidences an open-end cred

Question 7

The maximum rate of interest for credit transactions is established by:

Accepted Answer

A)  state law. 
B)  federal law. 
C)  the Federal Reserve Board. 
D)  the FTC. 
A)  state law. 
B)  federal law. 
C)  the Federal Reserve Board. 
D)  the FTC.

Question 8

Commonground Collections has been hired to collect past-due medical bills for Lakeview Physicians.List some activities that Commonground may not do pursuant to the FDCPA.

Accepted Answer

Under the FDCPA,Commonground may not:
•c

Exam 39: Consumer Law

"Bait and switch" is:

The Fair Debt Collection Practices Act prohibits which of the following practices?

Brooke uses her credit card to purchase a lawn mower at the local "big box" hardware store,but when she tries to use the mower for the first time,she finds it is not self-propelled as advertised.Does she have any recourse?

The Consumer Leasing Act requires a lessor to disclose in writing all EXCEPT:

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

Explain the difference between a debit and a credit card and discuss the potential liability for a lost or stolen card.

The maximum rate of interest for credit transactions is established by:

Commonground Collections has been hired to collect past-due medical bills for Lakeview Physicians.List some activities that Commonground may not do pursuant to the FDCPA.

Introduction To Law

Business Ethics And Social Responsibility

Dispute Resolution

Common Law,Statutory Law,And Administrative Law

Constitutional Law

Intentional Torts And Business Torts

Negligence And Strict Liability

Crime

International Law

Introduction To Contracts

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Consideration

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Third Parties

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Remedies

Practical Contracts

Introduction To Sales

Ownership And Risk

Warranties And Product Liability

Performance And Remedies

Secured Transactions

Creating A Negotiable Instrument

Liability For Negotiable Instruments

Accountants' Liability

Agency Law

Employment Law

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Starting A Business

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Life And Death Of A Corporation

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Shareholders

Securities Regulation

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Personal Property And Bailment

Planning For The Future: Wills,Trusts,And Insurance

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