FCS 200 UPDATED EXAM Questions And
CORRECT Answers
Order of Washing dishes: - CORRECT ANSWERS Wash, rinse, sanitize
What will help get the red stain out of a cashmere shirt? - CORRECT ANSWERS Alkaline
Fat measuring method - CORRECT ANSWERS Electrical current
Intangible Resources - CORRECT ANSWERS Cannot be touched - integrity, confidence, literacy
Human Resources - CORRECT ANSWERS Skills, talents, and abilities that people possess
Tangible Resources - CORRECT ANSWERS Real, touchable, concrete, able to appraised - jewelry,
land, houses
Material Resources - CORRECT ANSWERS - Fertile soil, petroleum, minerals, rivers - and man-
made resources (buildings, money, equipment, computers)
Bait and Switch - illegal - CORRECT ANSWERS Goal to get you to buy higher priced items
Sins of Omissions - legal - CORRECT ANSWERS Not telling everything
Puffery - CORRECT ANSWERS Distort the meaning of something. "going out of business","sale"
Federal Trade Commission - FTC - CORRECT ANSWERS Antitrust legislation, false/misleading
ads, packing and labeling of non-food items, warranties.
Food and Drug Administration - FDA - CORRECT ANSWERS Responsible for purity and safety of
foods, drugs, cosmetics.
, What agency is in charge of cereal boxes stating they are "high in Fiber"? - CORRECT
ANSWERS Food and Drug Administration
United States Department of Agriculture - CORRECT ANSWERS Inspects and grades meat
poultry and fish, sources of information on spending the food dollar.
Consumer Product Safety Commission - CORRECT ANSWERS Regulates the production and sale
of products that are potentially hazardous, sets safety standards, can ban products that are deemed
hazardous to consumers, can seize products from the market.
Pervious balance - Worst - CORRECT ANSWERS Interest is applied to total amount of bill
Adjusted Balance Method - best - CORRECT ANSWERS Interest rate is applied to the balance of
the bill after payment has been applied
Average daily balance method - CORRECT ANSWERS Interest rate is applied to daily average
balance during the current billing cycle - 30 days.
Fair Credit Reporting - CORRECT ANSWERS Right to see credit report at credit bureau, right to
correct information in credit report
Fair Credit Billing - CORRECT ANSWERS Right to correct incorrect bill within a reasonable time
period (60 days), right to withhold payment over fault merchandise
Extra Credit Opportunity Act - CORRECT ANSWERS Illegal to discriminate the granting of credit
based on sex, martial status, age, race, color, religion, national origin, or because person is on welfare
Fair Debt Collections Practices Act - CORRECT ANSWERS Makes it a federal offense for a debt
collector to threaten with violence, use obscene language, or contact consumer by telephone at
inconvenient times
Fair and Accurate Credit Transactions Act - CORRECT ANSWERS Free credit report from 3 credit
bureaus each year
CORRECT Answers
Order of Washing dishes: - CORRECT ANSWERS Wash, rinse, sanitize
What will help get the red stain out of a cashmere shirt? - CORRECT ANSWERS Alkaline
Fat measuring method - CORRECT ANSWERS Electrical current
Intangible Resources - CORRECT ANSWERS Cannot be touched - integrity, confidence, literacy
Human Resources - CORRECT ANSWERS Skills, talents, and abilities that people possess
Tangible Resources - CORRECT ANSWERS Real, touchable, concrete, able to appraised - jewelry,
land, houses
Material Resources - CORRECT ANSWERS - Fertile soil, petroleum, minerals, rivers - and man-
made resources (buildings, money, equipment, computers)
Bait and Switch - illegal - CORRECT ANSWERS Goal to get you to buy higher priced items
Sins of Omissions - legal - CORRECT ANSWERS Not telling everything
Puffery - CORRECT ANSWERS Distort the meaning of something. "going out of business","sale"
Federal Trade Commission - FTC - CORRECT ANSWERS Antitrust legislation, false/misleading
ads, packing and labeling of non-food items, warranties.
Food and Drug Administration - FDA - CORRECT ANSWERS Responsible for purity and safety of
foods, drugs, cosmetics.
, What agency is in charge of cereal boxes stating they are "high in Fiber"? - CORRECT
ANSWERS Food and Drug Administration
United States Department of Agriculture - CORRECT ANSWERS Inspects and grades meat
poultry and fish, sources of information on spending the food dollar.
Consumer Product Safety Commission - CORRECT ANSWERS Regulates the production and sale
of products that are potentially hazardous, sets safety standards, can ban products that are deemed
hazardous to consumers, can seize products from the market.
Pervious balance - Worst - CORRECT ANSWERS Interest is applied to total amount of bill
Adjusted Balance Method - best - CORRECT ANSWERS Interest rate is applied to the balance of
the bill after payment has been applied
Average daily balance method - CORRECT ANSWERS Interest rate is applied to daily average
balance during the current billing cycle - 30 days.
Fair Credit Reporting - CORRECT ANSWERS Right to see credit report at credit bureau, right to
correct information in credit report
Fair Credit Billing - CORRECT ANSWERS Right to correct incorrect bill within a reasonable time
period (60 days), right to withhold payment over fault merchandise
Extra Credit Opportunity Act - CORRECT ANSWERS Illegal to discriminate the granting of credit
based on sex, martial status, age, race, color, religion, national origin, or because person is on welfare
Fair Debt Collections Practices Act - CORRECT ANSWERS Makes it a federal offense for a debt
collector to threaten with violence, use obscene language, or contact consumer by telephone at
inconvenient times
Fair and Accurate Credit Transactions Act - CORRECT ANSWERS Free credit report from 3 credit
bureaus each year
