Consumer Protection Quiz A

Which of the following bankruptcies CANNOT be involuntary?

• Chapter 7
• Chapter 11
• Chapter 13
• No bankruptcy is ever involuntary

The need for consumer protection came as a result of sellers

• Always acting in the best interest of their customers

• who made products that either injured customers or didn't do what they claimed it would do

• making good business decisions to protect their investors

• who wanted to make the least amount of money possible

Caveat Emptor - indicates _______________ to be beware

• Government

• Suppliers

• Buyers

• Sellers

Which of the following may NOT be considered as ‘manufacturers’?

• Car Makers

• Consumers/ End Users

• Assemblers

• Repairers

Mrs. V owns a condo that she rents out to Mr. Dominguez. Mrs. V is the __________________ in this situation.

• landlord

• renter

• tenant

• leasee

A one time fee to cover damages beyond normal wear and tear is a

• Eviction
• Rental paymnent
• Security Deposit
• Amenities

A legal process to get out of debt when you can no longer make all your required payment.

• Liquidation

• Bankruptcy

• Mean's Test

• Credit Counseling

The entity that owes money

• Creditor

• Debtor

• Asset

• Liability

Liquidation means to do what?

• Sell assets to raise cash.

• Soak your debts with cash

• Pay off all your credit cards.

I avoid paying a PMI if I make a down payment of __________________ or more.

• 0%
• 5%
• 10%
• 20%