wayground logo

Free Printable Worksheets

NEW

Font size

S
M
L
XL
Worksheets

Business Law: 3.04 - 4.01 Review

Total questions: 30

Worksheet time: 15mins

Name
Class
Date
1.

Janet stole money from several different checking accounts. She had to pay a $5,000 fine and spent five years in prison. Janet violated which act?

a)

Federal Deposit Insurance Act

b)

Electronic Funds Transfer Act

c)

Thrift and Bank Fraud Act

d)

Home Equity Loan Consumer Protection Act

2.

Bart has no chance of getting out of debt and needs to liquidate all his belongings to pay creditors. Bart should file for which type of bankruptcy?

a)

Chapter 7

b)

Chapter 11

c)

Chapter 12

d)

Chapter 13

3.

Vince is being threatened by his credit card company after falling behind in his payments. What law protects him against this concern?

a)

Equal Credit Opportunity Act

b)

Fair Credit Billing Act

c)

Fair Credit Reporting Act

d)

Fair Debt Collection Practices Act

4.

What is the purpose of bankruptcy laws?

a)

Give creditors an opportunity to recover from overwhelming debt

b)

Give debtors an opportunity to recover from overwhelming debt

c)

Pay selected creditors only

d)

Pay only selected debtors

5.

Craig returned a recently purchased stereo to Electronic Warehouse for a full refund. Last week Craig’s credit card bill still showed a charge for the purchase. What law could help Craig correct this error?

a)

Disputed Charges Reform Act

b)

Fair Credit Billing Act

c)

Fair Credit Reporting Act

d)

Federal Trade Commission Act

6.

Catherine has $175,000 in an account at Bank of America. Which act protects her account if the bank fails?

a)

Federal Deposit Insurance Act

b)

Electronic Funds Transfer Act

c)

Thrift and Bank Fraud Act

d)

Home Equity Loan Consumer Protection Act

7.

Chris received his Visa statement in the mail. He now understands how long it will take to pay off the balance if he only makes the minimum payment. Visa is complying with which act?

a)

Credit Card Act of 2009

b)

Usury law

c)

Truth In Lending Act

d)

Fair Credit Reporting Act

8.

Mark’s credit report indicates non-payment of a credit card bill. Mark wants to correct this error. Which act was passed by Congress to assist Mark in correcting this dispute?

a)

Disputed Charges Reform Act

b)

Equal Credit Opportunity Act

c)

Fair Credit Reporting Act

d)

Fair Debt Collection Practices Act

9.

Danielle applied for a position with the FBI. She has the right to know that they viewed her credit history while checking her background. This right is granted by which act?

a)

Credit Card Act of 2009

b)

Usury law

c)

Truth In Lending Act

d)

Fair Credit Reporting Act

10.

Michelle obtained a letter from Nordstrom stating that her credit application had been approved. Michelle can spend up to $15,000 and the annual interest rate is 15.99%. Nordstrom followed which law?

a)

Credit Card Act of 2009

b)

Usury law

c)

Truth In Lending Law

d)

Fair Credit Reporting Act

11.

Tammy obtained a loan with an interest rate of 39.99% from a bank. Which law did this financial institution violate?

a)

Credit Card Act of 2009

b)

Usury law

c)

Truth In Lending Act

d)

Fair Credit Reporting Act

12.

Jason lost his credit card while on a recent trip. Which act will limit his liability?

a)

Federal Deposit Insurance Act

b)

Electronic Funds Transfer Act

c)

Thrift and Bank Fraud Act

d)

Home Equity Loan Consumer Protection Act

13.

Jan’s landlord threatens to report unsubstantiated debts on her credit. What law protects Jan against this concern?

a)

Equal Credit Opportunity Act

b)

Fair Credit Billing Act

c)

Fair Credit Reporting Act

d)

Fair Debt Collections Act

14.

VISA increased Jimmy’s interest rate from 10.99% to 15.99% without notifying him of this change in writing. Which law did VISA violate?

a)

Credit Card Act of 2009

b)

Usury law

c)

Truth In Lending Act

d)

Fair Credit Reporting Act

15.

Joan is concerned she will be turned down for a loan because she is a single female. What law protects her against this concern?

a)

Equal Credit Opportunity Act

b)

Fair Credit Billing Act

c)

Fair Credit Reporting Act

d)

Fair Debt Collections Act

16.

Kristin obtained a loan from a bank, but she never received a statement telling her repayment terms and the annual percentage rate. Which law did this financial institution violate?

a)

Credit Card Act of 2009

b)

Usury law

c)

Truth In Lending Act

d)

Fair Credit Reporting Act

17.

After registering a trademark, what symbol should be placed by all protected marks?

a)

R within a circle

b)

RTS within a circle

c)

S within a circle

d)

T within a circle

18.

After video taping an airplane crash, Allen wanted to protect his rights to the video. What type of protection did he apply for?

a)

Copyright

b)

Patent

c)

Trade Secret

d)

Trademark

19.

The songwriter has a copyright on her latest hit. The song is known as what type of property?

a)

Bailment

b)

Intellectual

c)

Personal

d)

Tangible

20.

Jon has invented a new traveling aid and wants to start selling it today. Jon has not received his paperwork from the government. What words should be placed on all the merchandise?

a)

Copyrights filed

b)

Invention rights coming

c)

Patent pending

d)

Trademark sent

21.

A popular company uses the slogan, 'Just Do It.' What term identifies this slogan?

a)

Copyright

b)

Patent

c)

Trade Secret

d)

Trademark

22.

NBA and NFL jerseys are sold with a distinctive mark. Which term identifies this mark on the jerseys?

a)

Copyright

b)

Patent

c)

Trade Secret

d)

Trademark

23.

Thomas Edison invented the light bulb. What document protected this invention?

a)

Copyright

b)

Patent

c)

Trade Secret

d)

Trademark

24.

Coca-Cola and McDonald’s have symbols that identify their company. What term is used to identify their symbols?

a)

Copyright

b)

Patent

c)

Service Mark

d)

Trademark

25.

After finishing his first novel, where will Paul file his application to protect his new book?

a)

U.S. Copyright Office

b)

U.S. Patent Office

c)

U.S. Trademark Office

d)

U.S. Trade Secret Office

26.

James protects his new invention by applying for which type of protection?

a)

A Copyright

b)

A Patent

c)

A Trade Secret

d)

A Trademark

27.

John Grisham protects the rights to his book, The Firm, by filing which document?

a)

Copyright

b)

Patent

c)

Trade Secret

d)

Trademark

28.

Which act establishes activities for recycling, source reduction, and sustainable agriculture, and helps to promote the conservation of energy, water, and natural resources?

a)

Pollution Prevention Act

b)

Energy Independence and Security Act

c)

Energy Policy Act

d)

Clean Water Act

29.

Which agency controls the price of natural gas and electricity for interstate business transactions?

a)

Environmental Protection Agency

b)

Federal Energy Regulatory Commission

c)

Nuclear Regulatory Commission

d)

Department of Energy

30.

Which agency manages all federal antipollution programs and handles air, solid waste, toxic substances, and pesticides?

a)

Environmental Protection Agency

b)

Federal Energy Regulatory Commission

c)

Nuclear Regulatory Commission

d)

Department of Energy