Unit 6 Lesson 7–Consumer Protection Agencies
Test Your Knowledge on Consumer Protection Agencies
Welcome to the Consumer Protection Agencies Quiz! This quiz is designed to assess your understanding of important consumer protection organizations and their roles. Whether you’re a student or just curious about consumer rights, this quiz will help you get a clearer picture.
- 5 Multiple Choice Questions
- Learn about the Better Business Bureau and Consumer Financial Protection Bureau
- Understand how these organizations help consumers
Which actions would help to increase a company’s rating with the Better Business Bureau?
Increasing the wages of employees
Maintaining transparent business practices maintaining transparent business practices honoring commitments made to the BBB
Ignoring complaints until they are reported to the BBB
Hiding practices that would paint the company in a negative light
A customer at a bank has a dispute over fees being charged in a checking account and wants the government to take some action. Should the customer file a complaint with the Consumer Financial Protection Bureau (CFPB) or with the Better Business Bureau (BBB)?
The customer should not file a complaint with the CFPB because it is designed to help consumers find trustworthy banks.
The customer should not file a complaint with the CFPB because it oversees complaints involving only other government agencies.
The customer should file a complaint with the BBB because it oversees complaints from consumers for all types of businesses.
The customer should file a complaint with the CFPB because it oversees complaints with financial institutions.
Which of the following descriptions best fits the Consumer Financial Protection Bureau?
It is a nonprofit nationwide bank.
It is a for-profit company designed to help consumers find trustworthy companies.
It is a government agency that makes sure financial companies treat consumers fairly.
It is a government agency designed to help financial companies find potential consumers.
If a consumer wanted to find a trustworthy insurance company, should they contact the Better Business Bureau (BBB) or the Consumer Financial Protection Bureau (CFPB)?
Consumers cannot file a complaint with the Consumer Financial Protection Bureau nor the Better Business Bureau.
Consumers can file a complaint with the Consumer Financial Protection Bureau but not the Better Business Bureau.
The consumer is better off only researching the company with the Better Business Bureau
Both organizations have some information as the BBB provides letter grades for company performance and provides access to complains while the CFPB also allows complaints and can issue fines.
A nonprofit organization designed to help consumers find trustworthy companies.
Consumer Credit Bureau
Better Business Bureau
Non-profit Bureau
Labor Law Act
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