1. Criminal loans tend to ignore interest rates because they are already illegal.

True

False

2. Companies often keep people waiting in during the contracting phase so that the people will waive their rights to truth in lending.

True

False

3. Unconscionability is when a contract is considered to be so unfair or abusive to one part, to the point that the court can reasonably infer that some abuse took place during the formation of the contract, where the court can rule that it is unconscionable and refuse to enforce it.

True

False

4. Truth in lending only applies to banks, not other institutions lending money.

True

False

5. Penalty rates are interest rates charged by a company when a person misses a payment or payments.

True

False

7.The Clayton Act stated that unions, along with certain other groups, were exempt from the Sherman Act.

True

False

The period of time of all warranties is 90 days.

True

False

6. All line products should be of the same quality from the same line.

Group of answer choices

True

False

A credit score is the score given to you by the banking industry related to how likely you are to pay back loans granted to you.

Group of answer choices

True

False

7. Service industry items tend to have a uniform quality best customized service to each individual.

Group of answer choices

True

False

8. Individual states have the stated right to set up restrictive covenants against other states.

Group of answer choices

True

False

9. It is difficult to apply a quality test to unique items as they are, by their nature, unique.

Group of answer choices

True

False

10 In most industries blacklisting is illegal.

Group of answer choices

True

False

11 Short term loans are any loan over a year in length.

Group of answer choices

True

False