The federal Fair Debt Collection Practices Act

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Reference no: EM132246123

1. The federal Fair Debt Collection Practices Act (FDCPA) is designed to shield debtors from which of the following practices?

(A) Erroneous credit reports against a consumer

(B) Civil lawsuits by creditors in an effort to collect a consumer debt

(D) Unfair delinquency reports by creditors against consumers

2. All but which of the following is a fear associated with the Consumer Financial Protection Bureau’s role in the finance market?

(A) Increased government regulation is likely to reduce the availability of credit.

((B) Increased government regulation is likely to increase the cost of credit.

(D) Increased government interference will increase consumer spending.

3. Which of the following is true of lemon laws?

A consumer generally may file a lawsuit if he or she disagrees with the decision of an arbitration panel as to whether a car is a lemon.

Arbitration panels determine whether the car is a lemon, and this decision may not be appealed to a court.

Lemon laws are the same for all states except Louisiana.

The vehicle must have been unavailable to the consumer for a total of at least 60 days in a 6-month period.

4. The Food and Drug Administration (FDA) can monitor which of the following products?

Tobacco products

Medical devices

Cosmetics

All of the choices are correct.

5. When a garage uses its paint to repaint a customer’s automobile, the car owner, not the painter, is the owner of the finished product. This situation follows the general rule of:

Conversion

Composition

Receivership

Confusion

Accession

Reference no: EM132246123

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