- Description
LAW 531T Week 6 Practice Assignment
Complete the Week 6 Practice Assignment in MyEducator.
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Week 6 Practice Assignment
- The _________________ Act protects consumers in the collection and reporting of their personal financial credit information.
o Equal Credit Opportunity
o Fair Credit Reporting
o Fair Debt Collection Practices
o Fair Credit and Charge Card Disclosure
- In order to make a claim of deceptive advertising, a party must show all but which of the following elements?
o The false claim is made about a product or service.
o The false claim does not affect the purchasing decision.
o The false claim is likely to produce economic injury.
o The false claim is likely to deceive a buyer.
- Which of the following is not a goal of the National Environment Policy Act?
o to conserve energy and endangered animals
o to encourage productive and enjoyable harmony between humans and their environment
o to prevent damage to the environment and biosphere
o to enrich understanding of ecological systems and natural resources
- Which of the following is NOT a form that an express warranty may take?
o descriptions of a product
o oral and written representations of a product
o representative samples and models of a product
o hyperbole about the nature or quality of a product
- Which of the following is NOT true of the Food and Drug Administration?
o It inspects manufacturing facilities to check for adulteration.
o It tests all drugs for safety and efficacy.
o It aims to prevent adulterated food from entering the marketplace.
o It conducts premarket safety assessments for new drugs.
- A copyright claim is an example of a(n) _________________ on a product.
o lien
o title
o implied warranty
o infringement
- An implied warranty of _________________ is an inherent promise that the product sold conforms to ordinary standards and that it is of the same average grade, quality, and value as similar products.
o title
o product dependability
o merchantability
o fitness for a particular purpose
- Which of the following is NOT true of the Consumer Product Safety Commission?
o It operates a hotline and a website where consumers may report dangerous products.
o It may issue recalls for dangerous products, but it may not ban dangerous products that are in the marketplace.
o It is presided over by three commissioners who are appointed by the president.
o It is an independent agency that does not operate under any other department of the federal government.
- Which of the following is NOT a required element of an environmental impact statement?
o a cost-benefit analysis of the project
o a consideration of less adverse alternatives
o a supportive petition of signatures proportional to the area’s population
o negative effects to the environment from the proposed action
- Accredited investors are those who have a net worth of at least _________________.
o $10 million
o $5 million
o $20 million
o $1 million
- Which of the following is NOT a goal of the Dodd-Frank Act?
o stabilizing the economy
o increasing transparency and accountability
o addressing fraud-related issues in investment banking and accounting
o halting “too big to fail” bailouts
- Which of the following is NOT true of the Investment Company Act?
o It defines what constitutes an investment company.
o It restricts some types of securities trading.
o It regulates the terms of adviser compensation.
o Its primary purpose is to address conflicts of interest that arise in the operation of investment opportunities.
- Which of the following is NOT true of the Investment Advisers Act?
o It contains a general antifraud provision.
o It regulates the terms of management of client assets.
o It imposes a duty on advisers to act in the best interest of their clients at all times.
o It requires all investment companies to register with the SEC.
- Which of the following is NOT an aim of the SOX Act?
o To increase corporate responsibility
o To increase accountability of investment advisers
o To increase disclosure requirements
o To address fraud-related issues in accounting and investment banking
- Which of the following is NOT true of the Securities Act of 1933?
o It requires registration from securities issued by federal, state, and local governments.
o It requires issuers of securities who make offers to the public to register with the SEC.
o It was enacted after the 1929 stock market crash, when many people thought unregulated securities trading was the cause of the crisis.
o Its aim is to deter fraud by regulating the way that securities are offered to the public.
- Trading of information that is not generally available to the public is known as _________________ trading.
o interdepartmental
o insider
o nonpublic
o private
- Which of the following is NOT a responsibility of the SEC?
o prosecuting violations of regulations
o copying state regulations and enforcing them on a federal level
o monitoring the activities of advisers and brokers
o instituting regulations
- Financial interests that are expressly recognized as securities under the law are known as _________________ securities.
o express
o limited
o special interest
o statutorily defined
- Which of the following is NOT true of securities?
o Classification of securities hinges on an evaluation of the investor’s role in the investment.
o Stocks are always securities.
o Bonds and investment contracts are examples of securities.
o Securities involve pooled assets and shared profits.
- Companies whose assets surpass $10 million are required to do all but which of the following?
o report the shares of company stock that they hold
o report major business developments as they occur
o file annual and quarterly financial reports
o report all major changes in personnel