#1
What does a product warranty typically cover?
Product performance
ExplanationIt ensures the expected functioning of the product.
#2
What is the primary purpose of the 'Consumer Product Safety Commission' (CPSC) in the United States?
Regulating consumer product safety
ExplanationIt ensures the safety of consumer products in the market.
#3
What is the purpose of the 'Unfair and Deceptive Acts and Practices' (UDAP) laws in consumer protection?
To prevent deceptive business practices
ExplanationIt prohibits businesses from engaging in fraudulent or misleading practices.
#4
What is the purpose of the 'Cooling-off period' in consumer protection?
A period for consumers to cancel certain contracts without penalty
ExplanationIt allows consumers to reconsider purchases and cancel contracts within a specified timeframe.
#5
What does the 'Implied Warranty of Merchantability' guarantee about a product?
The product will meet the buyer's expectations
ExplanationIt assures that the product is fit for its ordinary purpose and of acceptable quality.
#6
Which organization is responsible for enforcing consumer protection laws in the United States?
FTC (Federal Trade Commission)
ExplanationIt oversees and regulates business practices to protect consumers.
#7
What is the 'Magnuson-Moss Warranty Act' designed to regulate?
Consumer product warranties
ExplanationIt governs the terms and conditions of consumer warranties.
#8
What is the significance of the 'Express Warranty' in product transactions?
It is a specific written or spoken guarantee
ExplanationIt provides explicit assurances regarding the product's performance or quality.
#9
Which federal agency oversees the regulation of warranties for vehicles?
National Highway Traffic Safety Administration (NHTSA)
ExplanationIt ensures vehicle warranties comply with safety standards.
#10
In product warranties, what does 'full warranty' mean?
A warranty that covers all aspects of a product
ExplanationIt provides comprehensive coverage for all defects or malfunctions.
#11
What is the primary objective of the 'Consumer Rights Directive' in the European Union?
To harmonize consumer rights across EU countries
ExplanationIt aims to ensure consistent consumer protections across EU member states.
#12
Which of the following is an example of an implied warranty?
Fitness for a particular purpose
ExplanationIt assures that the product is suitable for a specific use as intended.
#13
In the context of consumer protections, what does 'lemon law' refer to?
Law protecting consumers from defective products
ExplanationIt provides legal recourse for consumers who purchase faulty products.
#14
What is 'planned obsolescence' in the context of consumer products?
Products intentionally designed to have a limited lifespan
ExplanationIt refers to designing products to become obsolete or non-functional within a specific timeframe.
#15
Under the 'Right to Repair' movement, what does it advocate for in terms of consumer products?
Consumer's right to repair their own products
ExplanationIt supports consumers' ability to repair and maintain their purchased products.
#16
Which of the following is a common remedy for a breach of warranty?
Refund or replacement
ExplanationIt involves compensating the consumer with either a refund or a replacement product.
#17
What is the significance of the 'Doctrine of Privity' in warranty law?
It requires parties to have a direct relationship for a valid warranty claim
ExplanationIt stipulates that only parties directly involved in a contract can enforce its terms.