Consumer Protection

The Consumer Fraud that concerns people the most is

• Phone scams
• Identity Theft
• Warranty Issues 
• False Advertisement

Identity thieves can use your identity to 

• Open a credit card
• Get an electrical account set up
• Open a Cell Phone Contract
• All of the above

If your bank calls you, you should 

• Talk With Them
• Hang Up
• Ask for their information and call them back to verify they are who they really say they are
• Advise them that you do not give out any financial information over the phone without first verifying who they are with the actual institution

One of the most important pieces of identification you need to protect is your

• Drivers License
• Pass Port
• Social Security Card
• School Id

In some instances you will have to provide your social security number, which scenario is appropriate to do this

• Registering for a store rewards card
• Paying Your cell phone bill
• Applying for student loans
• Signing up for a school function

Marissa got a letter from Nordstrom stating that her credit application had been approved. Marissa can spend up to 5,000 and the annual interest rate is 15.99%. Nordstrom followed what law?

• Credit Card Act of 2009

• Usury law

• Truth In Lending Law

• Fair Credit Reporting Act

Promotes accuracy, fairness, and privacy of information in the files of consumer reporting agencies

• Truth in Lending Act

• Equal Credit Opportunity Act

• Fair Credit Reporting Act

• Fair Debt Collection Act

Caveat Emptor means

• Let the Buyer Beware
• Let the Seller Beware
• Let Privity Stand
• None of them

A consumer who wishes to cancel a contract made with a "door-to-door" salesperson must do so within

• 3 Days
• 3 Weeks
• 3 Hours
• 24 Hours

Advertising a nonexistent bargain to lure customers and then selling them more expensive merchandise is called

• bait and switch
• cease and desist
• claim and change
• fraudulent misrepresntation