stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Consumer Law ETS Assessment Flashcards | StudBud
Explore
/
Consumer Law ETS Assessment
Consumer Law ETS Assessment
39 terms
·
StudBud Administration
·
227 plays
Imported from external platform
Flashcards
39 cards
F
Practice quiz
P
Host live
L
Questions
39
Answers
1
If something's wrong with a good but it's minor and can be fixed, the trader has to give you...
Trader can choose to repair, replace, or refund your money
A refund of your money only
Repair only
A replacement only
2
An extended warranty should give more cover than a manufacturer’s warranty?
True
False
3
Under the Consumer Guarantees Act - businesses must offer products that are
free from __________?
Defects
Priced
Purpose
Supposed to do
4
What does consumer protection law state?
Consumers have the right to complain.
Products that are misshapen cannot be sold.
Consumers are legally protected in all circumstances.
Products must be as described and fit for purpose.
5
What does a trader being "in trade" me for you?
You ARE protected under the Fair Trading and Consumer Guarantees Act
You are NOT protected under the Fair Trading and Consumer Guarantees Act
They are ONLY plumbers, builders and electricians.
You CAN expect a good bargain on your product
6
A
contract
is a legal and binding agreement between two or more people?
True
False
7
What is the term used for situations where consumers are ripped off – especially on line?
Scam
Cooling Off Period
Rain Check
Capacity
8
With
major faults
, retailers will generally choose to REPAIR your product?
False
True
9
Goods purchased from overseas are protected by the Consumer Guarantees Act?
True
False
10
Consumer Guarantees Act is responsible to catch business who use
Bait Advertising
not Fair Trading Act?
False
True
11
An example of a product covered by the Consumer Guarantees Act is a car bought from a friend?
True
False
12
Who is a consumer?
A person of high nobility
A person who sells
A person who trades
A person who purchases goods and services for personal use
13
The Credit Contracts and Consumer Finance Act helps protect...
Fit for Purpose
Consumers when they’re borrowing money
Consumers select the right TV
Credit Card Fraud
14
The Fair Trading Act makes it illegal for businesses to:
Avoid paying Tax
Operate during Covid 19
Have faulty goods
Mislead Consumers
15
What law makes sure goods and services sold in NZ are of
acceptable quality and fit for purpose?
Unfair Practice Act
Kangaroo Court
Consumer Guarantees Act
Facebook Complaints
16
The Fair Trading Act makes it illegal for businesses to:
Priced
Purpose
Defects
Mislead
17
The Consumer Guarantees Act
applies
to Private Sales?
False
True
18
A
loan guarantor
is someone who reminds you to pay a loan?
True
False
19
The "key information" about a loan which lenders must give to borrowers in writing is called
disclosure
?
False
True
20
The Consumer Guarantees Act makes it illegal for businesses to:
Mislead Consumers
Avoid paying Tax
Sell goods not of acceptable quality
Operate during Covid 19
21
Lenders can
choose
if they make their interest rates, fees and terms publicly available
True
False
22
Under the Consumer Guarantees Act - businesses must offer products that are
reasonably __________?
Supposed to do
Defects
Purpose
Priced
23
Under the Consumer Guarantees Act - businesses must offer products that are of
reasonable quality
?
True
False
24
What is the element (legal term used) in a contract that you must be at least 18 years old and of sound mind?
Cooling Off Period
Capacity
Scam
Rain Check
25
With products that are no longer produced, retailers will generally choose to...
Repair
Replace
Exchange
Refund
26
Term used when a shop has run out of a product but promises to sell it to you later at the special advertised price?
Scam
Rain Check
Cooling Off Period
Capacity
27
If you have a problem under the Fair Trading Act, where do you "report" it?
Commerce Commission
Facebook
Fair Trading Act
The Library or Post Office
28
Under the Consumer Guarantees Act - businesses must offer products that are
fit for __________?
Supposed to do
Priced
Defects
Purpose
29
A Loss Leader is a product sold at a loss to attract customers?
False
True
30
Buying privately can be risky due to less legal protection?
True
False
31
5 days given to a consumer to enters into a credit contract in which they can "pull out" of the contract.
Scam
Capacity
Cooling Off Period
Rain Check
32
With
minor
faults, retailers will generally choose to repair your product?
True
False
33
You are
not
covered by the Consumers Guarantees Act when you purchase a _____
Watch from Harvey Norman Retail Store
Watch from Michael Hill Jeweler
Doll from The Warehouse
Doll at a private Garage Sale
34
You should only get a loan if you CAN pay it back over time?
False
True
35
What remedies are there for unacceptable goods under the Consumer Guarantees Act?
Re-plan, Revoke and Redemption
Refund, Replace and Repair
Brittney, Bon Jovi and Beyonce
Retire, Return and Replenish
36
Some warranties automatically come with goods or services you buy. They're covered by what law?
Consumer Safety Act
Be Fair Act
Credit Finance Act
Consumer Guarantees Act
37
What information do lenders have to give you when you ask about a loan?
What discounts you can get
Political Party Policies
Living Cost in your region
Fees and interest rates
38
A consumer is...
Someone who EXPORTS goods
Someone who BUYS goods
Someone who MAKES goods
Someone who SELLS goods
39
You should "shop around" when choosing a loan?
False
True
