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 […]
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 […]
QUESTION A negotiable instrument represents only guarantees of terms specifically stated by the seller. Indicate whether the statement is true or false. ANSWER Answer: FALSE Explanation: A negotiable instrument may include terms not specifically stated by the seller.
QUESTION Jane, a 45-year-old who had suffered brain injury as a result of an aneurysm, was walking by a hot tub dealership when the salesperson invited her in to look at his newest model spa. When the salesperson told Jane she could own the tub, Jane was very excited. She agreed to the payment plan […]
QUESTION Statutory laws can be written by the U.S. Congress, city councils, and state legislatures. Indicate whether the statement is true or false. ANSWER Answer: TRUE Explanation: Statutory laws, called statutes, are written laws that are created by legislative bodies.
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 […]
QUESTION Implied warranties represent only guarantees of terms specifically stated by the seller. Indicate whether the statement is true or false. ANSWER Answer: FALSE Explanation: An implied warranty may represent terms not specifically stated by the seller.
QUESTION Deregulation is the scaling back, or relaxation in enforcement, of laws and administrative rules that seemed to restrain competition. Indicate whether the statement is true or false. ANSWER Answer: TRUE Explanation: Deregulation is the scaling back, or relaxation in enforcement, of laws and administrative rules that seemed to restrain competition.
QUESTION The Federal Communications Commission regulates the airwaves. Indicate whether the statement is true or false. ANSWER Answer: TRUE Explanation: The FCC regulates radio and TV communication.
QUESTION The Securities and Exchange Commission regulates stock and bond markets. Indicate whether the statement is true or false. ANSWER Answer: TRUE Explanation: The SEC regulates trading in stocks and bonds so that fair and transparent standards are applied.
