What is the primary purpose of consumer protection laws?
GFL Strand 5, Standard 5: Consumer Protection Laws

Quiz
•
Business
•
11th Grade
•
Easy
Adam Hunt
Used 8+ times
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To safeguard consumers from fraud and deceptive practices
To regulate wages across industries
To set pricing standards for businesses
To ensure all loans are interest-free
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the Federal Trade Commission (FTC) oversee?
Credit score calculations
Protection against unfair business practices
Setting minimum wages for employees
Approving all business licenses
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is identity theft?
The use of another person's personal information for fraud
Losing a credit card or ID
Receiving multiple spam emails
Filing a tax return late
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is phishing?
An online scam where individuals are tricked into providing sensitive information
A type of identity theft using physical mail
A method of tracking online purchases
An error in a credit report
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How can consumers safely dispose of sensitive financial documents?
By throwing them in the trash
By shredding them before disposal
By storing them indefinitely
By giving them to a bank for safekeeping
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the term “predatory lending” refer to?
Offering loans at reasonable interest rates
Lending practices with unfair terms and excessive fees
Lending money only to high-risk borrowers
Government-subsidized loans
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of a credit freeze?
To prevent identity theft by restricting access to your credit report
To lower credit card interest rates
To automatically dispute credit report errors
To eliminate existing debts
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