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Multiple Choice Quiz
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1
Robert contests a charge on his credit card bill but the credit card company states that this will take considerable time to investigate. How long does the credit card company have to make a decision?
A)30 days
B)60 days
C)90 days
D)120 days
2
Noah is told by Big Boats that their boat is the best fishing boat made. Noah buys a Big Boat and discovers numerous defects and that Big Boat has been the subject of many consumer complaints and suits. What legal rights does Noah have if any?
A)None since the "best fishing boat made" is sales talk.
B)Statements made about product durability and reliability may be fraudulent misrepresentations.
C)None since Noah made the decision to buy without undertaking adequate research.
D)Statements about product durability and reliability must be verified by independent research before they may be made.
3
Jackson sells his 1970 Ford to Marilyn. Jackson _____.
A)need not provide an odometer statement
B)must provide an odometer statement
C)need not provide an odometer statement unless Jackson claims that the car has less than 100,000 miles
D)must provide both an odometer statement and a Buyer's Guide
4
Marissa buys $20 of fruit from a door to door sales representative. Marissa ____.
A)is entitled to cancel within three business days of the sale
B)is entitles to cancel within three calendar days of the sale
C)is entitled to cancel as long as the fruit has not gone bad
D)is not entitled to cancel
5
Tom orders a book from Elm Co. by telephone. No time is stated for shipment. How quickly must the book be shipped?
A)14 days
B)30 days
C)45 days
D)60 days
6
The following category of discriminations is not prohibited under the Equal Credit Opportunity Act:
A)race
B)credit history
C)sex
D)religion
7
A credit card holder can avoid the $50 liability if the credit card issuer has not included on the card ______.
A)an 800 number to report loss or theft
B)a method to identify the user of the card
C)a method to identify unusual charges
D)a limitation of liability notice
8
Besides the debtor, a debt collect may lawfully contact ______.
A)the debtor's spouse
B)the debtor's attorney
C)the debtor's employer
D)the debtor's spouse, attorney, and employer
9
The Federal Trade Commission regulates _____.
A)interstate commerce
B)intrastate commerce
C)both interstate commerce and intrastate commerce
D)interstate, intrastate and foreign commerce
10
A class action lawsuit based upon a deceptive trade practice usually must be brought within _____ of the violation.
A)180 days
B)one year
C)two years
D)three years





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