Business

Which of the following is NOT a category of consumer-protection law?

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 […]

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Date: September 3rd, 2020

SnowDonuts, a maker of snow tubes, owes many thousands of dollars to s

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 […]

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Date: September 3rd, 2020

Which of the following is NOT a tax the government levies on U.S. citi

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, […]

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Date: September 3rd, 2020

The Consumer Financial Protection Bureau is an independent agency hous

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 […]

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Date: September 3rd, 2020

Implied warranties include the premise that the product or service sho

QUESTION Implied warranties include the premise that the product or service should deliver the promises advertised. Indicate whether the statement is true or false.   ANSWER Answer: TRUE Explanation: Implied warranties include the premise that the product or service should deliver the promises advertised. They also include the premise that the product or service should […]

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Date: September 3rd, 2020

For cases that are not solved in lower courts but keep getting passed

QUESTION For cases that are not solved in lower courts but keep getting passed up through the court system, what is the order of the type of court each case goes through? A) supreme courts, appellate courts, trial courts B) appellate courts, trial courts, supreme courts C) appellate courts, supreme courts, trial courts D) trial […]

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Date: September 3rd, 2020

The Consumer Financial Protective Bureau, an independent agency housed

QUESTION The Consumer Financial Protective Bureau, an independent agency housed in the Federal Reserve with its own budget and director and the authority to prevent or correct financial abuses, was set up as an attempt to try to prevent another big financial crisis. It is responsible for financial consumer protection. The CFPB is an example […]

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Date: September 3rd, 2020