Unknown Hazards Are

question 305

Multiple Choice

Unknown hazards are:

• A) defects that occurred during the manufacturing process
• B) defects that the manufacturer knew about, but did not reveal to the consumers
• C) dangers that were not known or not fully appreciated at the time the product was manufactured
• D) dangers that the consumer was aware of, but not able to avoid
• E) none of the other choices are correct

Describe the process and outcomes of administrative hearings conducted by the FTC.

Grasp the roles and regulations of consumer protection acts such as the Fair Credit Reporting Act (FCRA), Equal Credit Opportunity Act (ECOA), and Magnuson-Moss Warranty Act.

Understand the specifics and legal implications of the Truth in Lending Act (TILA) including disclosure requirements and debtor protections.

Recognize the role and creation of the Consumer Financial Protection Bureau (CFPB) and its regulations.

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Definitions:

Promotion

Marketing strategies aimed at increasing the visibility, sales, and market share of a product or service.

Nonpersonal Selling

Consists of advertising, sales promotion, direct marketing, and public relations.

Advertising

Paid nonpersonal communication usually targeted at large numbers of potential buyers.

Direct Mail

A marketing strategy involving the sending of advertisements or promotional materials directly to potential customers via postal mail.