Multiple Choice Answers

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(TCO 11) The Truth in Lending Act primarily requires
A:regulation of credit terms.
B: ability to repay the loan.
C: disclosure.
D: that the customer submit a credit report.

(TCO 11) Deadbeat Collection Agency trains its callers to attempt to contact debtors by telephone. To be sure they have the right person, they first make a call in which they say they are trying to contact the debtor because he or she has won a valuable prize (usually a cruise). Deadbeat’s tactics are effective, but what law makes these tactics illegal?
A: The Consumer Protection Act
B: TILA
C: The Fair Debt Collection Practices Act
D: The Consumer Financial Protection Bureau

(TCO 9) The Clean Water Act

None of the choices are entirely correct.  The EPA regulates The Clean Water Act however some of its authority is delegated to the states and to the Army Corps of Engineers. Therefore the choice that appears most appropriate is “is enforced by the EPA only”
A: is enforced by the EPA only.
B: is enforced by the individual states only.
C: is primarily enforced by the states, with the EPA acting only if necessary.
D: is primarily enforced by the EPA, with the states acting only if necessary.

(TCO 7) Those who install Internet tracking tools that are able to collect data from your Web searches, visits to vendors, use of social media, and the like
A: must provide an opt-out feature, to allow you to refuse tracking.
B: must provide an opt-in feature, to allow you to permit tracking.
C: are not required to provide either an opt-out or opt-in feature.
D: are illegal.

(TCO 7) Copyright
A: is available only for books and journals.
B: is available for a variety of intellectual creation, including such things as databases and software.
C: covers virtually all material which can be accessed online.
D: Both B and C

Which of the following is (are) representative of the focus of agency authority?
A: Control of supply
B: Control of rates
C: Control of conduct
D: All of the above

(TCO 8) When faced with a tender offer, the first duty of the management and directors of the target company is
A: to protect the CEO.
B: to protect the best interest of the shareholders.
C: to refuse the offer.
D: to mount a proxy fight.

(TCO 6) The Sherman Anti-trust Act and the Clayton Act can
A: only be enforced by the federal government.
B: can only be enforced by private parties.
C: can be enforced only be competing businesses.
D: can be enforced by both individuals and the government.

(TCO 6) Which of the following represent(s) the hazards of mergers?
A: Innovation may be harmed
B: Market concentration can lead to higher prices
C:Some companies may become so large we cannot allow them to fail
D:All of the above

(TCO 9) The agency charged with writing and enforcing consumer financial products is
A:  the Federal Trade Commission.
B: the Consumer Financial Protection Bureau.
C: the Consumer Product Safety Commission.
D:the Food and Drug Administration.