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What Is Credit Protection? - Laws & Services

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Emily missed a few payments on her credit card while she was out of work. Now she has a debt collector calling her, sometimes up to 20 times a day. Which act is the debt collector violating?

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1. Margie's credit card bill is due on the 30th of each month. She sent her payment on the 25th, but the company posted the payment on the 5th of the following month and charged her a late fee. This is likely a violation of the:

2. The Federal Trade Commission is made up of several different bureaus. Which bureau handles credit protection?

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About This Quiz & Worksheet

This quiz/worksheet combo will help test your understanding of credit protection. Some of the topics you'll be quizzed on include the law preventing discrimination by creditors in all decisions involving credit as well as the FTC office/bureau that handles credit protection.

Quiz & Worksheet Goals

In these assessments you'll be tested on:

  • Federal law preventing discrimination by creditors in all decisions involving credit
  • Law that prohibits abusive behavior by debt collectors
  • FTC office or bureau that handles credit protection
  • Act requiring companies to promptly post customer payments
  • Law containing information on how to dispute credit information

Skills Practiced

This quiz and worksheet allow students to test the following skills:

  • Reading comprehension - ensure that you draw the most important information from the related lesson on credit protection
  • Interpreting information - verify that you can read information regarding the FTC and interpret it correctly
  • Information recall - access the knowledge you've gained regarding laws that prevent discrimination by creditors
  • Knowledge application - use your knowledge to answer questions about the Fair Credit Reporting Act

Additional Learning

To learn more about consumer rights, review the accompanying lesson titled What Is Credit Protection? - Laws & Services. This lesson covers the following objectives:

  • Define the broad category of credit protection
  • Know the purpose of the FTC
  • Describe at least two functions of the Bureau of Consumer Protection
  • Relate at least five federal laws specifically meant to protect our credit rights
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