Podcast
Questions and Answers
Which scenario best exemplifies a phishing attempt?
Which scenario best exemplifies a phishing attempt?
- Receiving a spam email offering a free trip in exchange for completing a survey.
- Finding a discounted item from brand name retailers.
- Receiving a text message claiming you've won a lottery and asking you to pay a small processing fee to claim your prize.
- Receiving an email that appears to be from your bank asking you to update your account information with a link to a fraudulent website. (correct)
What is the most effective way to protect yourself from identity theft when handling sensitive documents?
What is the most effective way to protect yourself from identity theft when handling sensitive documents?
- Place all documents in the recycling bin.
- Burn all documents in a fireplace.
- Shred credit card statements and other financial documents before discarding them. (correct)
- Store all personal documents in a locked filing cabinet.
A consumer purchases a blender from a local store. The blender fails to properly blend after only three uses. The written warranty period has expired, but similar blenders are known to last for several years with normal use. Which type of warranty might the consumer still be able to claim?
A consumer purchases a blender from a local store. The blender fails to properly blend after only three uses. The written warranty period has expired, but similar blenders are known to last for several years with normal use. Which type of warranty might the consumer still be able to claim?
- Extended Warranty
- Implied Warranty (correct)
- Express Warranty
- No Warranty
A product is sold 'As Is.' What does this typically indicate regarding warranties?
A product is sold 'As Is.' What does this typically indicate regarding warranties?
After purchasing an item, a consumer is dissatisfied with the service provided. What is the recommended first step the consumer should take?
After purchasing an item, a consumer is dissatisfied with the service provided. What is the recommended first step the consumer should take?
Which of the following best describes the primary role of the Consumer Product Safety Commission (CPSC)?
Which of the following best describes the primary role of the Consumer Product Safety Commission (CPSC)?
The Food and Drug Administration (FDA) has broad oversight. Which area does the FDA NOT have primary regulatory authority over?
The Food and Drug Administration (FDA) has broad oversight. Which area does the FDA NOT have primary regulatory authority over?
The Federal Trade Commission (FTC) plays a significant role in protecting consumers. Which activity falls most directly under the FTC's purview?
The Federal Trade Commission (FTC) plays a significant role in protecting consumers. Which activity falls most directly under the FTC's purview?
Which of the following scenarios would most likely involve the Environmental Protection Agency (EPA)?
Which of the following scenarios would most likely involve the Environmental Protection Agency (EPA)?
Underwriters Laboratories (UL) is best known for what type of service?
Underwriters Laboratories (UL) is best known for what type of service?
A consumer has a dispute with a local business. They are seeking mediation and a reliable source to assess the business's trustworthiness. Which organization is the most suitable first point of contact?
A consumer has a dispute with a local business. They are seeking mediation and a reliable source to assess the business's trustworthiness. Which organization is the most suitable first point of contact?
What is the primary focus of the Securities and Exchange Commission (SEC)?
What is the primary focus of the Securities and Exchange Commission (SEC)?
In which situation would a consumer most likely seek assistance from their State Attorney General (SAG)?
In which situation would a consumer most likely seek assistance from their State Attorney General (SAG)?
For what type of dispute is Small Claims Court most appropriate?
For what type of dispute is Small Claims Court most appropriate?
What is the core deceptive tactic employed in a "Bait and Switch" scheme?
What is the core deceptive tactic employed in a "Bait and Switch" scheme?
Flashcards
Pyramid Scheme
Pyramid Scheme
A type of fraud where individuals are tricked into purchasing products or services with promises of high returns, primarily based on recruiting new members. The returns are funded by new investors, rather than actual profit.
Phishing
Phishing
A deceptive practice where criminals disguise themselves as legitimate entities in emails or other digital communications to steal sensitive information.
Identity Theft
Identity Theft
Unauthorized use of someone else's personal information for fraudulent purposes.
Warranty
Warranty
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Implied vs. Express Warranty
Implied vs. Express Warranty
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CPSC (Consumer Product Safety Commission)
CPSC (Consumer Product Safety Commission)
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FDA (Food and Drug Administration)
FDA (Food and Drug Administration)
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FTC (Federal Trade Commission)
FTC (Federal Trade Commission)
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EPA (Environmental Protection Agency)
EPA (Environmental Protection Agency)
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UL (Underwriters Laboratories)
UL (Underwriters Laboratories)
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BBB (Better Business Bureau)
BBB (Better Business Bureau)
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SEC (Securities and Exchange Commission)
SEC (Securities and Exchange Commission)
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SAG (State Attorney General)
SAG (State Attorney General)
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Small Claims Court
Small Claims Court
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Bait and Switch
Bait and Switch
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Study Notes
- Consumer Education and Consumer Rights and Responsibilities Study Guide
Agency Responsibilities
- Consumer Product Safety Commission (CPSC) keeps a record of safety concerns and protects the public from unreasonable risks of injury or death. It regulates the sales of some products.
- Food and Drug Administration (FDA) regulates food & medications and cosmetics. It also has authority to recall food, medicine, and cosmetics.
- Federal Trade Commission (FTC) regulates marketing/advertising and consumer protection. It can bring civil lawsuits for deceptive advertising.
- Environmental Protection Agency (EPA) administers all laws to protect, sustain, and improve our nation's air, water and land.
- Underwriters Laboratories (UL) tests middle electrical products for safety.
- Better Business Bureau (BBB) pursues fairness forms to feel responsibly & trustworthiness.
- Securities And Exchange Commission (SEC) regulates all fraudulent finance and money.
- State Attorney General (SAG) handles consumer issues that concern money and/or finances.
- Small Claims Court allows people to bring lawsuits on representation. Cases are settled in small claims court.
- Claims are capped at around $3,000
Fraudulent or Deceptive Practices
- Bait and Switch: Advertising a product or service at a really low price, then failing to honor supplying/selling more expensive items to the consumer.
- e.g., Limited time offer, While supply lasts, Style, and color shift.
- Pyramid Scheme: A fraudulent system of making money based on recruiting an ever-increasing number of people.
- These schemes promise participants payment primarily from money collected from other participants.
- Recruiters are successful. Most people don't get what they're selling; people are forced to declare bankruptcy.
- Fure trial as in the end members, not other members ensue.
- Phishing: Appears to be received in email or first from the person who looks legitimate, but is secretly sent by someone trying to access an account usually.
- One Emphasis on recruiter transcriptions depicted to small members.
- 10000 smalls might proudly. (2-3 weeks)
Identity Theft Protection
- Actions to protect an account.
- Check out credit reports.
- Shred name documents.
- Don't access wifi while chicken does
- Unique passwords and pins.
Warranty Explained
- A warranty guaranteed to fulfill purchases of an ordeal by its manufacturer, promising to repair or replace it, if necessary within a specific period of time.
Implied vs Express Warranty
- Express Warranties:
- In writing
- Full-everything is covered
- Won-out cites only counted
- IMO Gasw/oil or any-
- All products have to.
- A product bought "As Is" has no warranty.
Steps to Take When Dissatisfied
- State
- Negotiate
- Contact a consumer agency
- Take legal action
- Small claim courts
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Description
A study guide covering consumer rights and responsibilities, along with the roles of various agencies like the CPSC, FDA, FTC, and EPA. Also included are organizations include Underwriters Laboratories, Better Business Bureau, and Securities and Exchange Commission.
