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Exam 21: Consumer Protection

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Question 41

Multiple Choice

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An ad for Bagels Inc.attracts buyers who would otherwise have made purchases from Croissant Company.To bring a successful claim against Bagels Inc.under the federal Lanham Act for false advertising,Croissant must establish that

A) the ad was false or deceptive.
B) the buyers were deceived by the ad.
C) the ad directly caused Croissant to lose sales.
D) all of the choices.

E) B) and C)
F) A) and D)

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Question 42

True/False

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Under the Fair Credit Reporting Act,a consumer can request the identity of anyone who has received a credit agency's report on the consumer.

A) True
B) False

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Question 43

True/False

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Bait-and-switch advertising occurs if the seller fails to have reasonably adequate quantities of the advertised item available.

Regulation Z was issued by the Federal Reserve Board of Governors to implement the disclosure requirements of the Truth-in-Lending Act.

Labels must be accurate and use words easily understood by the ordinary consumer.

The government cannot remove a product from the market simply because it is considered imminently hazardous.

The Lanham Act protects against the deceptive use of trademarks but does not cover false advertising claims.

A consumer may recover under a state consumer-fraud statute,even if he or she has not suffered actual damages proximately caused by a deceptive act.

Credit Loan Company extends credit in the ordinary course of its business.Under the Truth-in-Lending Act,Credit Loan must inform potential borrowers of

Spicy Salsa,Inc. ,complains to the Federal Trade Commission (FTC) about an ad broadcast by Tangy Taco Sauce Company,Spicy's competitor.The FTC investigates and concludes that the ad is deceptive.The FTC's next step is to

Lu's application to Metro Bank for a credit card is denied.Logan can obtain information on his credit history in a credit agency's files under

Bea borrows funds from Credit Union to repair her home and to buy a car.She buys a laptop from Discount Store in a transaction financed by the seller.If these parties are subject to the Truth-in-Lending Act,Regulation Z applies to