Reference no: EM132245033

1. Lemon laws govern the export and sale of agricultural produce in interstate commerce.

True/False

2. A contract may be unconscionable merely because one party is spectacularly clever and the other is not.

True/False

3. Which of the following debt collection practices would be legal under the federal Fair Debt Collection Practices Act?

A. Using physical force on a debtor to recover debt

B. Making repeated phone calls to a debtor with the intent to harass

C. Contacting a debtor in an unfair, abusive, or deceptive manner

D. Contacting third parties to locate a debtor

4. Which of the following is the federal agency charged with protecting consumers from "unreasonable risks of injury and death" from products such as toys, lawn mowers, washing machines, bicycles, fireworks, pools, portable heaters, and household chemicals?

A. The Consumer Product Safety Commission

B. The Consumer Goods Commerce Agency

C. The Consumer Financial Protection Bureau

D. The Federal Trade Commission

5. The Equal Credit Opportunity Act (ECOA) is designed to combat bias in lending.

True/False

6. All but which of the following is true of credit reporting protections provided to consumers under the federal Fair Credit Reporting Act (FCRA)?

A. You can sue for damages if your rights under the act have been violated.

B. Lenders are required to provide a consumer’s credit score as well as any factors that affected that score if the lender took any adverse action based on that score.

C. You must provide written consent before a CRA can provide information to your employer or prospective employer.

D. Negative information more than three years old must be removed from a consumer’s credit file.