MGT 340: Exam 3 Davis Exam Study Guide
Today's consumer protection laws favor businesses as opposed to consumers. -
ANSWER False
The liability limitation for credit card holders who report a lost of theft is $50. -
ANSWER True
Taxes due to local government are dischargeable in bankruptcy. - ANSWER
False
Many federal agencies use licensing as a means of enforcement. - ANSWER
True
One of the major reasons for passage of the Equal Credit Opportunity Act was
gender discrimination against women. - ANSWER True
Chapter 7 allows business entities to keep some exempt property. - ANSWER
False
The Fair Debt Collection Practices Act forbids debt collectors from calling on
debtors during inconvenient hours. - ANSWER True
The broad goal of chapter 11 bankruptcy is to work out a way for a debtor to pay
off its obligation while continuing in operation. - ANSWER True
Hearings conducted by agencies for enforcement purposes need not provide
due process for the parties. - ANSWER False
The TILA provisions do not apply to commercial loans. - ANSWER True
Caveat emptor is the legal theory that states employers will be responsible for
the negligent acts of their employees. - ANSWER False
Product comparisons are typically discouraged by regulatory authorities. -
ANSWER False
Only large corporations need to be concerned with the regulations created by
administrative agencies. - ANSWER False
Ads can be the basis of an express warranty. - ANSWER False
Bankruptcy is federal law. - ANSWER True
, OSHA is responsible for making sure food, drugs, and medical devices are safe
use. - ANSWER False
The goal of tort law is to provide protection to consumers. - ANSWER True
Creditors can force a company into particular bankruptcy proceedings. -
ANSWER False
Congress appoints the head of administrative agencies by a majority vote. -
ANSWER False
Saying that "this car is the ultimate driving experience" is an example of puffery.
- ANSWER True
Victims of odometer tampering are eligible to receive up to triple the amount of
their damages. - ANSWER True
Strict liability is a common claim of car accident victims. - ANSWER False
Intentional torts are based on carelessness. - ANSWER False
Libel is written and oral defamation. - ANSWER False
The Fair Labor Standards Act requires that all workers be offered health
insurance coverage. - ANSWER False
The goal of tort law is to punish the tortfeasor. - ANSWER False
ethics have no place in one's professional or work life. - ANSWER False
It is unethical for an employee to falsify accounting records, even if the
employee's boss told the employee to do so. - ANSWER True
Jessica was caught shoplifting at a department store both by employees who
witnessed the act and cameras in the store. The store's management may hold
her as long as it takes to get her to confess. - ANSWER False
Intentionally touching another in a harmful manner can be civil assault. -
ANSWER False
So long as employers follow the FLSA, they will always make ethical decisions
when it comes to fair treatment of employees. - ANSWER False
In general today, workers cannot sue for on-the-job injuries. - ANSWER True
Today's consumer protection laws favor businesses as opposed to consumers. -
ANSWER False
The liability limitation for credit card holders who report a lost of theft is $50. -
ANSWER True
Taxes due to local government are dischargeable in bankruptcy. - ANSWER
False
Many federal agencies use licensing as a means of enforcement. - ANSWER
True
One of the major reasons for passage of the Equal Credit Opportunity Act was
gender discrimination against women. - ANSWER True
Chapter 7 allows business entities to keep some exempt property. - ANSWER
False
The Fair Debt Collection Practices Act forbids debt collectors from calling on
debtors during inconvenient hours. - ANSWER True
The broad goal of chapter 11 bankruptcy is to work out a way for a debtor to pay
off its obligation while continuing in operation. - ANSWER True
Hearings conducted by agencies for enforcement purposes need not provide
due process for the parties. - ANSWER False
The TILA provisions do not apply to commercial loans. - ANSWER True
Caveat emptor is the legal theory that states employers will be responsible for
the negligent acts of their employees. - ANSWER False
Product comparisons are typically discouraged by regulatory authorities. -
ANSWER False
Only large corporations need to be concerned with the regulations created by
administrative agencies. - ANSWER False
Ads can be the basis of an express warranty. - ANSWER False
Bankruptcy is federal law. - ANSWER True
, OSHA is responsible for making sure food, drugs, and medical devices are safe
use. - ANSWER False
The goal of tort law is to provide protection to consumers. - ANSWER True
Creditors can force a company into particular bankruptcy proceedings. -
ANSWER False
Congress appoints the head of administrative agencies by a majority vote. -
ANSWER False
Saying that "this car is the ultimate driving experience" is an example of puffery.
- ANSWER True
Victims of odometer tampering are eligible to receive up to triple the amount of
their damages. - ANSWER True
Strict liability is a common claim of car accident victims. - ANSWER False
Intentional torts are based on carelessness. - ANSWER False
Libel is written and oral defamation. - ANSWER False
The Fair Labor Standards Act requires that all workers be offered health
insurance coverage. - ANSWER False
The goal of tort law is to punish the tortfeasor. - ANSWER False
ethics have no place in one's professional or work life. - ANSWER False
It is unethical for an employee to falsify accounting records, even if the
employee's boss told the employee to do so. - ANSWER True
Jessica was caught shoplifting at a department store both by employees who
witnessed the act and cameras in the store. The store's management may hold
her as long as it takes to get her to confess. - ANSWER False
Intentionally touching another in a harmful manner can be civil assault. -
ANSWER False
So long as employers follow the FLSA, they will always make ethical decisions
when it comes to fair treatment of employees. - ANSWER False
In general today, workers cannot sue for on-the-job injuries. - ANSWER True
