Consumer Rights
Nutrition Labels are an example of which consumer right?
Right to information
When would a contract NOT be valid?
If the activity is illegal
_____ is the most important piece of information we need to protect?
Social Security Number
Coach Riley has a bachelor's degree in business and is interested in home repairs and likes to watch house hunters. What financial customer service job would be best suited for him.
Realtor/Real Estate Broker
What is it called when we place money we make illegally into a bank?
Money Laundering
Asking for a refund is which consumer right?
Right to be heard
What type of contract is written and signed?
Expressed
______ is used to replace or repair defective items you purchased.
Warranty
What is the major difference between a credit unions and commercial banks?
Credit Unions are owned by the members
If someone opens 3 credit cards in your name yet you never applied for a credit card, what financial crime are you a victim of?
Identity Theft
Selling a swiss army knife to a toddler would be a violation of which consumer right?
Right to Safety
Ordering food at a restaurant is considered which type of contract?
Implied
How are consumer protection agencies funded?
Taxpayer Dollars
How do mortgage loan companies make their money?
Interest on loans
Who do we report Identity theft to?
Fraud dept. and the authorities.
Buying something and being pleased with the product.
This contract involves one person agreeing to be paid for a service?
Unilateral
What act or law protects us from debt collectors calling us multiple times or at specific times of the day?
Fair Debt Collections and Practices Act
What are the education requirements in order to become a financial advisor?
Bachelor's degree in finance and pass the series 7 exam.
What agency requires at least $250,000 to be insured in savings accounts?
FDIC
What should we do before filing a customer complaint?
This contract would be two parties agree on the exchange of services and or products?
Bilateral
Product Safety
Are debt collectors allowed to contact your place of employment to collect a debt?
Yes
In 2008 the banks were running out of money because of defaulted loans. What did the government do in response?
Bailout