QUESTION A civil—that is, noncriminal—wrongful act that results in injury to people or property is called what? A) a discharge B) a breach C) a tort D) a liability E) a trademark ANSWER Answer: C Explanation: C) From the French for “wrong,” a tort is a civil—that is, noncriminal—wrongful act that results in injury […]
Date: September 3rd, 2020
QUESTION Which of the following is NOT covered under copyright law? A) a song B) a poem C) a painting D) a logo E) a play ANSWER Answer: D Explanation: D) A logo is an example of something that can be trademarked. Trademarks are for protecting owners’ rights to brand names.
Date: September 3rd, 2020
QUESTION Which type of law covers warranties and negotiable instruments? A) commercial law B) contract law C) bankruptcy law D) tort law E) consumer protection law ANSWER Answer: A Explanation: A) Commercial law covers laws affecting sales transactions, under which warranties and negotiable instruments are covered.
Date: September 3rd, 2020
QUESTION Which of the following products is NOT covered under the food and drugs category of consumer-protection laws? A) lipstick B) shaving cream C) eyeglasses D) hearing aids E) apparel ANSWER Answer: E Explanation: E) The food and drugs category of consumer-protection laws covers food, cosmetics, and medical devices. Apparel is covered under the […]
Date: September 3rd, 2020
QUESTION Which of the following is NOT a category of consumer-protection law? A) food and drugs B) manufacturing C) labeling and packaging D) consumer product safety E) pricing and credit ANSWER Answer: B Explanation: B) There are four categories of consumer-protection laws: food and drugs, labeling and packaging, consumer product safety, and pricing and […]
Date: September 3rd, 2020
QUESTION SnowDonuts, a maker of snow tubes, owes many thousands of dollars to suppliers of the plastic from which the tubes are made. The suppliers have asked the courts to force SnowDonuts to repay. But SnowDonuts just got its three biggest orders ever. What would the courts likely do? A) have SnowDonuts file voluntary Chapter […]
Date: September 3rd, 2020
QUESTION Which of the following is NOT a tax the government levies on U.S. citizens? A) income tax B) property tax C) excise tax D) value-added tax E) ill-health tax ANSWER Answer: E Explanation: E) The principal ways the government raises revenue is by levying the following taxes: income tax, property tax, sales tax, […]
Date: September 3rd, 2020
QUESTION The Consumer Financial Protection Bureau is an independent agency housed in the Federal Reserve with its own budget and director and the authority to prevent or correct financial abuses. Which of the following does the CFPB NOT do? A) restrict unfair, deceptive, or abusive practices B) monitor financial markets for new risks to consumers […]
Date: September 3rd, 2020
QUESTION Sergio’s, a manufacturer of fine china, sells a place setting to department stores for $65.00 and to interior decorators for $82.00. Sergio’s can be prosecuted under what Act? A) the Sherman Antitrust Act B) the Clayton Act tying contracts clause C) the Clayton Act exclusive dealing clause D) the Robinson-Patman Act E) the Federal […]
Date: September 3rd, 2020
QUESTION Monica has an interior decorating business. She claims that her main rug supplier, Persian Footfalls, offers her competitive pricing on the rugs only if she agrees to also purchase wall tapestries from the company. Monica can file a complaint against Persian Footfalls under what act? A) the Clayton Act B) the Sarbanes-Oxley Act C) […]
Date: September 3rd, 2020
