Question 1

The United States Department of Transportation (DOT), a cabinet-level department of the U.S. government, is concerned with transportation and __________.

Accepted Answer

The United States Department of Transportation (DOT) is primarily concerned with transportation and public safety, focusing on the regulation and oversight of transportation systems to ensure safe and efficient movement of people and goods.

Question 2

The National Highway Traffic Safety Administration is __________ of the U.S. Department of Transportation.

Accepted Answer

The National Highway Traffic Safety Administration (NHTSA) is an agency of the U.S. Department of Transportation, responsible for enforcing vehicle performance standards and partnerships to prevent road traffic accidents.

Question 3

The National Highway Traffic Safety Administration:

Accepted Answer

The National Highway Traffic Safety Administration (NHTSA) is involved in various aspects of vehicle safety, including licensing manufacturers and importers, regulating the import of vehicles and safety-related parts, and providing information on automobile insurance costs, making all the choices correct.

Question 4

What main reporting system has become a resource for traffic safety research?

Accepted Answer

The Fatality Analysis Reporting System (FARS) is a nationwide database that provides detailed information on fatal injuries suffered in motor vehicle traffic crashes, making it a key resource for traffic safety research.

Question 5

The Consumer Financial Protection Bureau (CFPB), one of the __________ federal regulatory agencies to be created by Congress, is empowered to monitor and regulate consumer financial markets, including consumer loans and credit cards.

Accepted Answer

The Consumer Financial Protection Bureau (CFPB) was established in 2010 as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, making it one of the newest federal regulatory agencies.

Question 6

Under the Fair and Accurate Credit Transactions Act (FACTA), consumers are entitled to request a free copy of their credit reports once every __________.

Accepted Answer

Under the Fair and Accurate Credit Transactions Act (FACTA), consumers are entitled to request a free copy of their credit reports from each of the three major credit reporting agencies once every 12 months.

Question 7

In Palmer v. Champion Mortgage, 465 F.3d 24 (1st Cir. 2006), the court

Accepted Answer

The court in Palmer v. Champion Mortgage affirmed the trial court's decision and dismissed Palmer's claim, indicating that the appellate court agreed with the lower court's ruling and found no merit in Palmer's claim.

Question 8

There is a large body of __________ law that regulates credit transactions.

Accepted Answer

Administrative law includes regulations and rules created by governmental agencies, which often oversee credit transactions.

Question 9

What does the Food and Drug Administration regulate? Explain the powers of the FDA.

Accepted Answer

The answer of What does the Food and Drug Administration...

Question 10

Explain the Truth in Lending Act, what it covers, and whom it protects.

Accepted Answer

The answer of Explain the Truth in Lending Act, what...

Quiz 44: Consumer Protection

The United States Department of Transportation (DOT) , a cabinet-level department of the U.S. government, is concerned with transportation and __________.

The National Highway Traffic Safety Administration is __________ of the U.S. Department of Transportation.

The National Highway Traffic Safety Administration:

What main reporting system has become a resource for traffic safety research?

The Consumer Financial Protection Bureau (CFPB) , one of the __________ federal regulatory agencies to be created by Congress, is empowered to monitor and regulate consumer financial markets, including consumer loans and credit cards.

Under the Fair and Accurate Credit Transactions Act (FACTA) , consumers are entitled to request a free copy of their credit reports once every __________.

In Palmer v. Champion Mortgage, 465 F.3d 24 (1st Cir. 2006) , the court

There is a large body of __________ law that regulates credit transactions.

What does the Food and Drug Administration regulate? Explain the powers of the FDA.

Explain the Truth in Lending Act, what it covers, and whom it protects.