EXAM STUDY MATERIALS 8/7/2024 11:29 AM
MGT 340 - EXAM 3 Questions With
Correct Answers
Today's consumer protection laws favor businesses as opposed to consumers. - answer✔✔False
The liability limitation for credit card holders who report a lost or theft it $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 negilgent 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✔✔True
Bankruptcy is federal law. - answer✔✔True
, EXAM STUDY MATERIALS 8/7/2024 11:29 AM
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✔✔False
Creditors can force a company into particular bankruptcy proceedings. - answer✔✔True
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
Negligence may result from either an intentional or unintentional act. - answer✔✔False
Public reprimands of an employee, while not criminal, are general considered unethical. -
answer✔✔True
Fair and ethical treatment of employees goes beyond what the Law requires. - answer✔✔True
MGT 340 - EXAM 3 Questions With
Correct Answers
Today's consumer protection laws favor businesses as opposed to consumers. - answer✔✔False
The liability limitation for credit card holders who report a lost or theft it $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 negilgent 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✔✔True
Bankruptcy is federal law. - answer✔✔True
, EXAM STUDY MATERIALS 8/7/2024 11:29 AM
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✔✔False
Creditors can force a company into particular bankruptcy proceedings. - answer✔✔True
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
Negligence may result from either an intentional or unintentional act. - answer✔✔False
Public reprimands of an employee, while not criminal, are general considered unethical. -
answer✔✔True
Fair and ethical treatment of employees goes beyond what the Law requires. - answer✔✔True
