GFL Strand 5, Standard 5: Consumer Protection Laws

GFL Strand 5, Standard 5: Consumer Protection Laws

11th Grade

20 Qs

quiz-placeholder

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GFL Strand 5, Standard 5: Consumer Protection Laws

GFL Strand 5, Standard 5: Consumer Protection Laws

Assessment

Quiz

Business

11th Grade

Easy

Created by

Adam Hunt

Used 8+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary purpose of consumer protection laws?

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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