QUESTION 1

Which of the following would NOT be considered to be an example of open-ended credit?

a. A gasoline credit card.

b. A department store credit card.

c.A real estate mortgage.

d. A VISA card.

QUESTION 2

The Federal Consumer Credit Protection Act:

a. Sets limits on garnishment proceedings.

b.Requires creditors to disclose finance charges.

c.Does not yet require disclosure on credit extension charges.

d.Requires creditors to disclose finance chargesbutdoes not require disclosure on credit extension charges.

e.Sets limits on garnishment proceedings.and alsorequires creditors to disclose finance charges.

QUESTION 3

Which of the following acts requires disclosure of finance charges in terms of an annual percentage rate and requires that interest rates be calculated in a uniform manner in consumer credit transactions?

a.Truth-in-Lending Act

b.FTC Act

c.Equal Credit Opportunity Act

d.Fair Credit Billing Act

QUESTION 4

The Fair Debt Collection Practices Act requires a debt collector to provide the consumer with a written notice. What information must be contained in this notice?

a.A copy of the original credit contract with the original creditor.

b.The name and phone number of the current creditor and former creditor.

c.A statement telling the consumer that he can request verification of the alleged debt.

d.The amount of the debt, with interest and penalties clearly delineated.

QUESTION 5

If a debtor defaults on a credit contract, the creditor may:

a.impose a late charge.

b.garnish wages if there has been a court proceeding to enforce collection of a judgment.

c.declare the entire balance of the debt immediately due and may sue on the debt.

d.All of these.

e.Bothimpose a late charge anddeclare the entire balance of the debt immediately due and sue on the debt.

Question 6

To establish trespass to land, a plaintiff:

a.must show an invasion that interferes with the plaintiff's right of exclusive possession of property and that it is a direct result of the defendant's actions.

b.need not show the plaintiff's right to exclusive possession, but must show that the defendant's actions were unreasonable.

c.need not show the plaintiff's right to exclusive possession.

d.must show an invasion that interferes with the plaintiff's right of exclusive possession of property that is at least an indirect result of the defendant's actions.

QUESTION 7

CERCLA is an act that:

a.Regulates current and future generation, transportation, and disposal of hazardous waste.

b.Provides limited authority for the cleanup of inactive and abandoned hazardous waste sites.

c.Requires the federal government to establish a National Contingency Plan.

d.Bothregulates current and future generation, transportation, and disposal of hazardous waste and alsoprovides limited authority for the cleanup of inactive and abandoned hazardous waste sites.

QUESTION 8

Which of the following statement(s) is true concerning the Montreal Protocol on Substances that Deplete the Ozone Layer?

a.The United States and 23 other countries signed it.

b.It was not signed by the United States but was signed by 23 other countries.

c.It is a treaty that requires all signatories to reduce their production and consumption of all chemicals.

d.It is a treaty that requires all signatories to reduce their production and consumption of only CFC's.

e.The United States and 23 other countries signed it asa treaty requiring all signatories to reduce their production and consumption of all chemicals.

QUESTION 9

The CERCLA trust fund is financed by a:

a.tax on chemical feedstocks.

b.surtax on businesses with annual incomes over $2 million.

c.tax on petroleum.

d.All of these.

QUESTION 10

NEPA requires that the EIS contain:

a.an analysis of the relationship between local short-term uses of the environment and the maintenance and enhancement of long-term productivity.

b.reversible and retrievable commitments of resources involved.

c.only a brief outline of the adverse environmental effects of a proposed action.

d.All of these.

QUESTION 11

What form of organization enables a multinational enterprise to retain control and authority over all phases of operation?

a.Direct export sales.

b.Wholly owned subsidiaries.

c.Joint ventures.

d.None of these.

QUESTION 12

The Dodd-Frank Act:

a.extends the reach of the antifraud provisions of the 1933 and 1934 Securities Acts.

b.appears to restore to private litigants the right to bring proceedings to enforce the antifraud provisions of the U.S. securities laws in cases with an extraterritorial component.

c.limits the Department of Justice's right to bring proceedings to enforce antifraud provisions of the U.S. securities laws in cases affecting other nations.

d.All of these.

QUESTION 13

Which is not true about zoning ordinance variances:

a.They are not available for hardships caused by the actions of the property owner seeking the variance.

b.Theyare available if it affirmatively appears that the property owner seeking the variance cannot yield a reasonable return on the owner's investment in the property.

c.Theyare available for hardships caused by the variance that are common to the zoned area.

d.All of these are true.

QUESTION 14

Most states have adopted the:

a.position that the person who owns property subject to a mortgage will not be liable to the creditor for "waste."

b.lien theory, under which the mortgagor retains title and is entitled to possession to the exclusion of the mortgagee, even if the mortgagor defaults.

c.title theory, which brings no right of redemption.

d.title theory, which gives the mortgagor the right of ownership and possession.