Question 1

_____ is the legal procedure by which a creditor may collect a debt by attaching a portion of a debtor's weekly wages.

Accepted Answer

A)  Rescission 
B)  Garnishment 
C)  Joinder 
D)  Attachment 
A)  Rescission 
B)  Garnishment 
C)  Joinder 
D)  Attachment

Question 2

Which of the following is NOT true regarding the use of genetically modified foods internationally?

Accepted Answer

A)  The European Parliament refused to approve legislation requiring the labeling of genetically modified foods. 
B)  Australia requires the labeling of genetically modified food. 
C)  The only GMO crop China grows is cotton. 
D)  In New Zealand,if a genetically modified ingredient is "highly refined," the labeling requirements concerning GMOs do not apply. 
A)  The European Parliament refused to approve legislation requiring the labeling of genetically modified foods. 
B)  Australia requires the labeling of genetically modified food. 
C)  The only GMO crop China grows is cotton. 
D)  In New Zealand,if a genetically modified ingredient is "highly refined," the labeling requirements concerning GMOs do not apply.

Question 3

Which,according to the Food and Drug Administration,of the following is part of the definition of a drug?

Accepted Answer

A)  Articles used for food or drink for humans or other animals 
B)  Chewing gum 
C)  Articles intended to affect the function of the body 
D)  Articles used for components of drink 
A)  Articles used for food or drink for humans or other animals 
B)  Chewing gum 
C)  Articles intended to affect the function of the body 
D)  Articles used for components of drink

Question 4

The Consumer Credit Protection Act limits the garnishment of wages to the lesser of _____ of the debtor's disposable earnings for the week or the amount by which disposable earnings for the week exceed _____ times the current federal minimum hourly wage.

Accepted Answer

A)  10%; 30 
B)  25%; 30 
C)  30%; 25 
D)  35%; 40 
A)  10%; 30 
B)  25%; 30 
C)  30%; 25 
D)  35%; 40

Question 5

In CASE 17.1 United States v.DeCoster (2016),the court held that a corporate officer is held liable for failure to take necessary measures to prevent or remedy violations of the Food,Drug,and Cosmetic Act,regardless of whether they were aware of or intended to cause the violation.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following categories of drugs cannot be approved by the Food and Drug Administration?

Accepted Answer

A)  Schedule I 
B)  Schedule C 
C)  Schedule 2 
D)  Schedule D 
A)  Schedule I 
B)  Schedule C 
C)  Schedule 2 
D)  Schedule D

Question 7

The Fair Debt Collection Practices Act applies only to third-party debt collectors.

Accepted Answer

A) True 
 B)False

Question 8

In 2014,the _______ announced it considered ______ to be a convertible virtual currency.

Accepted Answer

A)  Wall Street Protection Group; ETF funds 
B)  Consumer Financial Protection Bureau; bitcoin 
C)  Internal Revenue Service; bitcoin 
D)  Internal Revenue Service; gold 
A)  Wall Street Protection Group; ETF funds 
B)  Consumer Financial Protection Bureau; bitcoin 
C)  Internal Revenue Service; bitcoin 
D)  Internal Revenue Service; gold

Question 9

Which of the following is true regarding the Equal Credit Opportunity Act?

Accepted Answer

A)  It prohibits discrimination against credit applicants based on gender and marital status. 
B)  It does not apply to applicants who derive their income from public assistance. 
C)  It applies only to business credit. 
D)  It applies only to consumer credit. 
A)  It prohibits discrimination against credit applicants based on gender and marital status. 
B)  It does not apply to applicants who derive their income from public assistance. 
C)  It applies only to business credit. 
D)  It applies only to consumer credit.

Question 10

In general,consumer protection law at the state level is more stringent than federal law.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following is NOT an FDA requirement for food manufacturing and processing facilities?

Accepted Answer

A)  Take preemptive measures to prevent contamination. 
B)  Identify foods at high risk for foodborne illness outbreaks. 
C)  Develop an electronic tracking system that follows food from "farm to fork." 
D)  Block foods from facilities outside the United States. 
A)  Take preemptive measures to prevent contamination. 
B)  Identify foods at high risk for foodborne illness outbreaks. 
C)  Develop an electronic tracking system that follows food from "farm to fork." 
D)  Block foods from facilities outside the United States.

Question 12

The U.S.Food and Drug Administration inspects facilities engaged in egg production.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following is allowed to broadband providers,according to the Open Internet Rules that went into effect in 2015?

Accepted Answer

A)  Blocking access to legal services or devices 
B)  Eliminating pay-for-play fast lanes 
C)  Providing paid prioritization over other Internet traffic for consideration 
D)  Throttling lawful Internet traffic based on content 
A)  Blocking access to legal services or devices 
B)  Eliminating pay-for-play fast lanes 
C)  Providing paid prioritization over other Internet traffic for consideration 
D)  Throttling lawful Internet traffic based on content

Question 14

Caveat emptor means:

Accepted Answer

A)  "let the buyer beware." 
B)  "let the buyer prevail." 
C)  "let the market decide." 
D)  "let the seller beware." 
A)  "let the buyer beware." 
B)  "let the buyer prevail." 
C)  "let the market decide." 
D)  "let the seller beware."

Question 15

Caveat venditor means:

Accepted Answer

A)  "let the buyer beware." 
B)  "let the buyer prevail." 
C)  "let the market decide." 
D)  "let the seller beware." 
A)  "let the buyer beware." 
B)  "let the buyer prevail." 
C)  "let the market decide." 
D)  "let the seller beware."

Question 16

A 2016 amendment to the Agricultural Marketing Act requires food producers to label food products that contain genetically modified organisms (GMOs).

Accepted Answer

A) True 
 B)False

Question 17

Which of the following is NOT true regarding bioengineered insects and pathogens?

Accepted Answer

A)  Scientists have created genetically engineered insects and microbes to fight pests that harm crops. 
B)  The Environmental Protection agency issues permits for the use of bioengineered insects. 
C)  The Food and Drug Administration issues permits for the use of bioengineered pathogens. 
D)  The Environmental Protection Agency issues permits for the use of bioengineered pathogens. 
A)  Scientists have created genetically engineered insects and microbes to fight pests that harm crops. 
B)  The Environmental Protection agency issues permits for the use of bioengineered insects. 
C)  The Food and Drug Administration issues permits for the use of bioengineered pathogens. 
D)  The Environmental Protection Agency issues permits for the use of bioengineered pathogens.

Question 18

Executive branch regulatory agencies are located in cabinet departments.

Accepted Answer

A) True 
 B)False

Question 19

The Flammable Fabrics Act is an example of a federal law regulating the labeling of clothing.

Accepted Answer

A) True 
 B)False

Question 20

Congress has made it a federal crime to engage in the extortionate extension of credit.

Accepted Answer

A) True 
 B)False

Exam 17: Consumer-Protection

_____ is the legal procedure by which a creditor may collect a debt by attaching a portion of a debtor's weekly wages.

Which of the following is NOT true regarding the use of genetically modified foods internationally?

Which,according to the Food and Drug Administration,of the following is part of the definition of a drug?

The Consumer Credit Protection Act limits the garnishment of wages to the lesser of _____ of the debtor's disposable earnings for the week or the amount by which disposable earnings for the week exceed _____ times the current federal minimum hourly wage.

In CASE 17.1 United States v.DeCoster (2016),the court held that a corporate officer is held liable for failure to take necessary measures to prevent or remedy violations of the Food,Drug,and Cosmetic Act,regardless of whether they were aware of or intended to cause the violation.

Which of the following categories of drugs cannot be approved by the Food and Drug Administration?

The Fair Debt Collection Practices Act applies only to third-party debt collectors.

In 2014,the _______ announced it considered ______ to be a convertible virtual currency.

Which of the following is true regarding the Equal Credit Opportunity Act?

In general,consumer protection law at the state level is more stringent than federal law.

Which of the following is NOT an FDA requirement for food manufacturing and processing facilities?

The U.S.Food and Drug Administration inspects facilities engaged in egg production.

Which of the following is allowed to broadband providers,according to the Open Internet Rules that went into effect in 2015?

Caveat emptor means:

Caveat venditor means:

A 2016 amendment to the Agricultural Marketing Act requires food producers to label food products that contain genetically modified organisms (GMOs).

Which of the following is NOT true regarding bioengineered insects and pathogens?

Executive branch regulatory agencies are located in cabinet departments.

The Flammable Fabrics Act is an example of a federal law regulating the labeling of clothing.

Congress has made it a federal crime to engage in the extortionate extension of credit.

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Constitutional Bases For Business Regulation

Agency

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Torts and Privacy Protection

Product-Liability

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The Employment Agreement

Civil Rights and Employment Discrimination

Criminal-Law

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Antitrust

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Forms Of Business Organizations

Directors Officers And Controlling Shareholders

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Filters

The Consumer Credit Protection Act limits the garnishment of wages to the lesser of _ of the debtor's disposable earnings for the week or the amount by which disposable earnings for the week exceed _ times the current federal minimum hourly wage.

In 2014,the _ announced it considered to be a convertible virtual currency.