275. Which of the following is NOT a prohibited basis under the Equal Credit Opportunity Act:
a. race
b. sexual orientation
c. age
d. religion
e. all of the other specific choices are prohibited bases
276. The Federal Reserve Board has written a regulation to implement the Equal Credit Opportunity Act, it is:
a. Regulation Z
b. Regulation B
c. Regulation A
d. Regulation J
e. none of the other choices
277. Under the Equal Credit Opportunity Act, a creditor is permitted to:
a. request any information they think necessary to make a decision about a credit applicant
b. discriminate against an applicant based on marital status
c. consider information about indirect credit history of an applicant
d. ask questions about applicant’s plans to have children in order to calculate impact on future income
e. none of the other choices
278. Under the Equal Credit Opportunity Act, a creditor is permitted to:
a. request any information they think necessary to make a decision about a credit applicant
b. discriminate against an applicant based on marital status
c. not count welfare benefits as income since they may end at any time
d. ask questions about applicant’s plans to have children in order to calculate impact on future income
e. none of the other choices
279. A woman applies for credit from a department store. Which of the following information is legal for the department
store to consider in deciding if it should give credit?
a. that her former husband ran up a large unpaid bills
b. that she is pregnant
c. that she receives Food Stamps
d. that she had six credit cards canceled for non-payment
e. all of the other choices are illegal to consider
280. A woman applies for credit from a department store. Which of the following information is legal for the department
store to consider in deciding if it should give credit?
a. that her former husband ran up a large unpaid bills
b. that she is pregnant
c. that she receives Food Stamps
d. that she is Hispanic
e. all of the other choices are illegal to consider
281. The Equal Credit Opportunity Act prohibits credit discrimination on the basis of all except:
a. the race of the applicant
b. if the applicant has a checking account
c. if the applicant receives public assistance
d. the marital status of the applicant
e. all of the other choices are legitimate concerns
282. The Equal Credit Opportunity Act prohibits credit discrimination on the basis of all except:
a. the race of the applicant
b. if the applicant has children
c. if the applicant receives public assistance
d. the marital status of the applicant
e. none of the other choices
283. If a violation of the Equal Credit Opportunity Act occurs the consumer can sue the creditor for:
a. actual damages
b. punitive damages up to $10,000
c. attorney’s fees
d. court costs
e. all of the other specific choices are correct
284. If a creditor is found to have violated the Equal Credit Opportunity Act, he is liable for:
a. actual damages
b. punitive damages up to $10,000
c. attorney’s fees
d. court costs
e. all of the other specific choices are correct
285. If a consumer’s application for credit is denied, the creditor must provide written notice to the consumer containing
what information?
a. the name and address of the federal agency regulating compliance by the creditor
b. the basic provisions of the Equal Credit Opportunity Act
c. either the specific reasons for the action taken or disclose the applicant’s right to receive a statement of
reasons
d. the name and address of the federal agency regulating compliance by the creditor and the basic provisions of
the Equal Credit Opportunity Act
e. the name and address of the federal agency regulating compliance by the creditor and the basic provisions of
the Equal Credit Opportunity Act and either the specific reasons for the action taken or disclose the
applicant’s right to receive a statement of reasons
286. If a consumer’s application for credit is denied, the creditor must provide written notice to the consumer containing
what information?
a. the name and address of the federal agency regulating compliance by the creditor
b. a list of other possible sources of credit
c. either the specific reasons for the action taken or disclose the applicant’s right to receive a statement of
reasons
d. the name and address of the federal agency regulating compliance by the creditor and either the specific
reasons for the action taken or disclose the applicant’s right to receive a statement of reasons
e. the name and address of the federal agency regulating compliance by the creditor and either the specific
reasons for the action taken or disclose the applicant’s right to receive a statement of reasons and a list of
other possible sources of credit
287. Garnishing the wages of a debtor refers to the practice of:
a. setting aside a portion of a debtor‘s wages to pay a creditor
b. supplementing the wages of a debtor on welfare
c. illegally increasing a debtor’s earning so he can pay a creditor
d. temporarily increasing a debtor’s wage so he can pay a creditor
e. none of the other choices are correct
288. Debt collection agencies handle in claims each year.
a. about $100 billion
b. more than $40 billion
c. less than $5 billion
d. about $20 billion
e. about $500 million
289. The Fair Debt Collection Practices Act restricts:
a. creditors attempting to sell credit card services
b. to ten the number of times a debt collector may contact a consumer in a 60 day period when attempting to
collect a debt
c. abusive techniques used by debt collection agencies
d. the use of 800 number phone lines by collection agencies
e. all of the other choices
290. The Fair Debt Collection Practices Act restricts:
a. creditors attempting to sell credit card services
b. to ten the number of times a debt collector may contact a consumer in a 60 day period when attempting to
collect a debt
c. the sale of consumer debt to debt collection agencies
d. the use of 800 number phone lines by collection agencies
e. none of the other choices
291. The Fair Debt Collection Practices Act applies to:
a. all creditors attempting to collect debts
b. all corporations attempting to collect debts
c. merchants attempting to collect debts from their customers, but not to financial institutions
d. debt collection agencies
e. all of the other choices
292. The Fair Debt Collection Practices Act applies to:
a. all creditors attempting to collect debts
b. merchants attempting to collect debts from their customers, but not to financial institutions
c. debt collection agencies
d. merchants attempting to collect debts from their customers, but not to financial institutions, and to debt
collection agencies
e. all creditors attempting to collect debts and merchants attempting to collect debts from their customers, but
not to financial institutions, and to debt collection agencies
293. The Fair Debt Collection Practices Act does NOT apply to:
a. creditors attempting to collect their own debts
b. attorneys who regularly engage in debt collection activity
c. friends collecting debts from friends
d. both a and b are correct
e. both a and c are correct
294. Which of the following is considered harassing, deceptive or unfair under the Fair Debt Collection Practice Act:
a. threats of violence
b. threats of arrest
c. obscene language
d. all of the other specific choices are correct
e. none of the other specific choices are correct
295. The Fair Debt Collection Practice Act:
a. expressly limits the number of times a collector may contact a debtor
b. prohibits debt collectors from contacting debtors at home
c. encourages debt collectors to discuss a consumer’s debt with third parties to help collect the debt fairly
d. all of the other choices
e. none of the other choices
296. Which of these does not violate the Fair Debt Collection Practices Act? The debt collector:
a. claims to be an attorney when talking to the debtor
b. publishes a list of actual debtors in the newspaper
c. threatens to beat up the debtor
d. calls every day to remind the debtor of the debt it owes to the collector
e. all of the other choices are illegal
297. Which of these does not violate the Fair Debt Collection Practices Act? The debt collector:
a. claims to be an attorney when talking to the debtor
b. publishes a list of actual debtors in the newspaper
c. threatens to beat up the debtor
d. calls the debtor’s employer to discuss the matter
e. all of the other choices are illegal
298. The Fair Debt Collection Practices Act prohibits the following by debt collectors except:
a. harassing, late-night phone calls b.
discussing a debt with neighbors c.
publication of a list of debts owed
d. threatening violence if a debt is not paid
e. all of the other choices are prohibited
299. The Fair Debt Collection Practices Act prohibits the following by debt collectors except:
a. harassing, late-night phone calls
b. sending repeated letters demanding payment
c. publication of a list of debts owed
d. threatening violence if a debt is not paid
e. all of the other choices are prohibited
300. In Heintz v. Jenkins, the Supreme Court held that the Fair Debt Collection Practices Act:
a. applies to people who have at least $4,000 worth of debt
b. applies only to collection agencies located outside the U.S.
c. applies to attorneys who regularly collect consumer debt
d. applies only to collection agencies with more than 50 employees
e. none of these is correct
301. In Heintz v. Jenkins, the Supreme Court held that the Fair Debt Collection Practices Act:
a. applies to people who have at least $4,000 worth of debt
b. applies only to collection agencies located outside the U.S.
c. applies only to debts over $1,000
d. applies only to collection agencies with more than 50 employees
e. none of these is correct
302. Under the Fair Debt Collection Practices Act, which of the following information does not have to be provided to
the debtor in writing by a debt collector within five days of the initial communication?
a. the amount of the debt
b. if the creditor will sue if the debtor refuses to pay
c. a statement that unless the consumer disputes the validity of the debt within 30 days, it will be assumed valid
d. the name of the creditor to whom the debt is owed
e. all of the other choices must be stated
303. Under the Fair Debt Collection Practices Act, which of the following information must be provided to the debtor in
writing by a debt collector within 5 days of the initial contact:
a. the amount of the debt
b. a statement that unless the consumer disputes the validity of the debt within 30 days, it will be assumed valid
c. the name of the creditor to whom the debt is owed
d. the amount of the debt or a statement that unless the consumer disputes the validity of the debt within 30
days, it will be assumed valid
e. the amount of the debt or a statement that unless the consumer disputes the validity of the debt within 30
days, it will be assumed valid or the name of the creditor to whom the debt is owed
304. Under the Fair Debt Collection Practices Act, which of the following need not be provided to the debtor within five
days of the initial communication:
a. the amount of the debt
b. a statement that unless the consumer disputes the validity of the debt within 30 days, it will be assumed valid
c. the name of the creditor to whom the debt is owed
d. the amount of the debt or a statement that unless the consumer disputes the validity of the debt within 30
days, it will be assumed valid
e. all of the other specific choices must be provided
305. Suppose a debt collector has been calling and sending notices of a debt you owe. If you wish to end further
notification from the debt collector, you must:
a. obtain an injunction against further contact
b. pay the debt in full within 30 days
c. contact the Federal Trade Commission to request limits to notification
d. send the debt collector a letter requesting they stop contact
e. none of the other choices
306. Suppose a debt collector has been calling and sending notices of a debt you owe. If you wish to end further
notification from the debt collector, you must:
a. obtain an injunction against further contact
b. pay the debt in full within 30 days
c. contact the Federal Trade Commission to request limits to notification
d. tells the U.S. Postal Service to put such mail on the “do not deliver” list
e. none of the other choices
307. In Chuway v. National Action Financial Services, where Chuway received a letter from debt collector National
that requested payment of the amount she owed on a debt, the appeals court held that the debt collector used:
a. inaccurate terms about the balance due, and so violated the FDCPA
b. abusive language in the letter, and so violated the FDCPA
c. technical terms that an ordinary consumer could not understand, a violation of the FDCPA
d. language that was a bit technical, but the meaning was clear to a reasonable person, so there was no
violation of the FDCPA
e. none of the other choices
308. In Chuway v. National Action Financial Services, where Chuway received a letter from debt collector National
that requested payment of the amount she owed on a debt, the appeals court held that the debt collector used:
a. an improper calculation of the interest rate owed on the debt, so as to increase its take, a violation of the
FDCPA
b. abusive language in the letter, and so violated the FDCPA
c. technical terms that an ordinary consumer could not understand, a violation of the FDCPA
d. language that was a bit technical, but the meaning was clear to a reasonable person, so there was no
violation of the FDCPA
e. none of the other choices
309. In Chuway v. National Action Financial Services, where Chuway received a letter from debt collector National
that requested payment of the amount she owed on a debt, the appeals court held that the debt collector:
a. violated the FDCPA by sending the plaintiff multiple letters after she requested they stop
b. violated the FDCPA by not clearly establishing the amount of the debt
c. did not violate the FDCPA because the language of the letter was clear
d. clearly used safe harbor language and so did not violate the FDCPA
e. used reasonable language for the situation and so did not violate the FDCPA
310. In Chuway v. National Action Financial Services, where Chuway received a letter from debt collector National
that requested payment of the amount she owed on a debt, the appeals court held that the debt collector:
a. violated the FDCPA by sending the plaintiff multiple letters after she requested they stop
b. used reasonable language for the situation and so did not violate the FDCPA
c. did not violate the FDCPA because the language of the letter was clear
d. clearly used safe harbor language and so did not violate the FDCPA
e. none of the other choices are correct
311. Which of the following is an example of an electronic fund transfer:
a. an ATM deposit
b. a direct deposit of a paycheck
c. using a debit card to buy groceries
d. an automatic bill paying service
e. all of the other choices are correct
312. Regulation E was written by the Federal Reserve Board to implement the:
a. Electronic Fund Transfer Act
b. Electronic Money Act
c. Electronic Banking Act
d. Wire Transfer Act
e. ATM and Debit Card Act
313. The Electronic Fund Transfer Act is implemented by:
a. Regulation Z
b. Regulation B
c. Regulation E
d. Regulation X
e. Regulation F
314. If you lose the bank card you use to withdraw cash from your bank by machine, and you report it to the bank within
two days, you are liable for how much in losses?
a. $0 b.
$50 c.
$500
d. $5,000
e. however much is in your account