Unfair Acts and Practices Quiz
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Questions and Answers

What is considered a substantial injury under Dodd-Frank?

  • Any form of harm (correct)
  • Physical injury
  • Only monetary harm
  • Emotional distress
  • What are the three criteria for an act or practice to be considered unfair under Dodd-Frank?

  • Causes substantial injury, avoidable by consumers, outweighed by benefits
  • Causes physical harm, not avoidable by consumers, outweighed by benefits
  • Causes monetary harm, not avoidable by consumers, outweighed by benefits
  • Causes substantial injury, not avoidable by consumers, not outweighed by benefits (correct)
  • What is the significance of a significant risk of concrete harm under Dodd-Frank?

  • It is considered substantial injury (correct)
  • It is not considered substantial injury
  • It is not a factor in determining substantial injury
  • It is only considered for monetary harm
  • What is considered a deceptive act or practice under Dodd-Frank?

    <p>An act or practice that misleads or is likely to mislead the consumer</p> Signup and view all the answers

    What is required to minimize the risk of omitting material information or making false statements that could mislead consumers?

    <p>Ensuring that claims are supported before they are made</p> Signup and view all the answers

    What must be considered when determining whether an act or practice is deceptive?

    <p>The entire situation</p> Signup and view all the answers

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