#1
Which agency oversees consumer financial protection in the United States?
Federal Trade Commission (FTC)
Consumer Financial Protection Bureau (CFPB)
Securities and Exchange Commission (SEC)
Federal Reserve
#2
What does APR stand for in the context of consumer finance?
Annual Payment Rate
Average Personal Revenue
Annual Percentage Rate
Adjusted Payment Ratio
#3
What does FDIC stand for in the context of consumer finance?
Federal Debt Insurance Corporation
Financial Disclosure and Insurance Corporation
Federal Deposit Insurance Corporation
Financial Data and Investigation Committee
#4
What does RESPA stand for?
Real Estate Settlement and Procedures Act
Real Estate Settlement Protection Act
Real Estate Settlement Procedures and Accountability Act
Real Estate Settlement Procedures Act
#5
What does CFPB stand for?
Consumer Financial Protection Bureau
Credit and Finance Protection Bureau
Consumer Finance Protection Bureau
Credit and Financial Protection Bureau
#6
Which law requires lenders to disclose the total cost of a loan, including the interest rate and fees?
Truth in Lending Act (TILA)
Fair Credit Reporting Act (FCRA)
Equal Credit Opportunity Act (ECOA)
Gramm-Leach-Bliley Act (GLBA)
#7
What is the main purpose of the Dodd-Frank Wall Street Reform and Consumer Protection Act?
To regulate the stock market
To provide tax cuts for corporations
To prevent another financial crisis and protect consumers
To privatize government-run banks
#8
What is the purpose of the Fair Debt Collection Practices Act (FDCPA)?
To regulate credit reporting agencies
To prevent abusive debt collection practices
To provide tax incentives for debt collectors
To increase interest rates on outstanding debts
#9
Which federal agency enforces the Fair Credit Reporting Act (FCRA)?
Federal Trade Commission (FTC)
Consumer Financial Protection Bureau (CFPB)
Securities and Exchange Commission (SEC)
Federal Reserve
#10
What is the purpose of the Electronic Fund Transfer Act (EFTA)?
To regulate online shopping
To provide tax refunds
To establish rules for electronic transactions and protect consumers
To regulate cryptocurrency exchanges
#11
Which of the following is NOT a type of financial institution regulated by the Consumer Financial Protection Bureau (CFPB)?
Banks
Credit Unions
Payday Lenders
Stock Brokerages
#12
Which act requires lenders to provide borrowers with clear and concise information about mortgage loan terms and costs?
Fair Debt Collection Practices Act (FDCPA)
Home Mortgage Disclosure Act (HMDA)
Real Estate Settlement Procedures Act (RESPA)
Dodd-Frank Wall Street Reform and Consumer Protection Act
#13
Which federal agency is responsible for enforcing the Servicemembers Civil Relief Act (SCRA)?
Federal Trade Commission (FTC)
Consumer Financial Protection Bureau (CFPB)
Department of Veterans Affairs (VA)
Department of Defense (DOD)
#14
Which federal agency regulates the disclosure of information by financial institutions to consumers under the Gramm-Leach-Bliley Act (GLBA)?
Consumer Financial Protection Bureau (CFPB)
Federal Reserve
Securities and Exchange Commission (SEC)
Federal Trade Commission (FTC)
#15
What is the primary purpose of the Fair and Accurate Credit Transactions Act (FACTA)?
To regulate international trade
To establish consumer rights related to credit reports and identity theft prevention
To provide tax deductions for credit card holders
To regulate interest rates on mortgage loans