Quiz Show

Donna M. Kesot, CPCUFebruary 27, 2013

Match the Act to what it regulates:

Sherman Act

Clayton Act

FCT Act

McCarran-Ferguson Act 

Mangnuson-Moss Act

Warranties

Unfair Trade Practices

Anti-Trust

Mergers

Insurance by States

Sales ContractsUnilateral or bilateral contract

Sale on Approval

Sale on Return

Auction Sales

FOB (free on board) Place of Shipment meansThe seller delivers goods to the carrier at the seller’s risk & expense, ownership transfers to the buyer when the goods are delivered. TRUE or FALSE?FALS

E

Define: Negotiable Instruments

• Written documents that allow parties to pay at a distant or future time

Collateral• Cash or near cash assets that a principal pledges

to secure credit, a loan or other obligation

TRUE or FALSE?TRUE or FALSE?

Property on paper is a form of collateral

Creation of a security interest in property

Attachment

A legally enforceable agreement in which a buyer and seller transfer, or agree to transfer, ownership of property for consideration.

Sales Contract

A.

B.

C.

D.

E.

Which are foreclosure Default Rights?

Right to sue on the underlying debt

Right to strict foreclosure

Right to sell the collateral & dispose of it as desired

Right to regain possession

All of the Above

Match the Act to what it regulates:

Trust in Lending Act

Fair Credit Reporting Act

Electronic Fund Transfer Act

Equal Credit Opp Act 

Federal Bankruptcy Act

Chapters 7, 13

Bank Debit Cards

Terms & Interest

Consumer Report’g Agency

Disclose Rejection Reason