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AEPA: Consumer Economics Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. Which of the following is the best example of a purchase that would fall under extended decision making?

Question 2 2. _____ is the legal responsibility imposed on businesses for the manufacturing or selling of defective goods.

Question 3 3. Jane was injured when a hair dryer that she purchased from ABC Corporation caught on fire. She was using it normally. Why would ABC be held liable for the defective hair dryer according to the strict liability theory of product liability?

Question 4 4. Teresa bought a new flat screen TV and installed it on her wall according to its instruction manual. Two days later it fell off the wall and broke. The handyman who came to help her clean up the mess said that the screws she used weren't strong enough to hold the TV bracket. Teresa is upset because these were the screws that came with the TV. She called the company to complain and they apologized. They said that some of the boxes were accidentally packed with screws meant for a much smaller model TV. This is an example of _____.

Question 5 5. McDonald's was held liable for injuries to customers caused by its coffee being too hot. Why was the liability based on the theory of negligence?

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Question 6 6. The best way a business can protect its customers from fraud is to _____.

Question 7 7. If you are a victim of identity theft, which of the following is not an action you should take?

Question 8 8. How might a marketer for snack products move consumers from the evaluation stage to the trial stage?

Question 9 9. Cameron bought a new coffee machine. When he went to work the next morning he left it on. His old coffee machine had an automatic shut-off so he didn't worry about it. When he got home he saw that his new machine didn't automatically shut-off, it had overheated and was now broken. The instruction manual had stated that the machine did not have an automatic shut-off but Cameron had not read the manual. This is an example of which type of product liability?

Question 10 10. The theory of product liability which assumes the existence of a contract between the parties is called _____.

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Question 11 11. Steve's new motor scooter leaked gas on his way to work. Now he's out of gas and stranded. While complaining to a friend, he finds out that this is apparently a common problem with these scooters. What is this an example of?

Question 12 12. For product liability offenses, strict liability generally means that _____.

Question 13 13. Which type of product would be better advertised using an elaborate website with lots of information, rather than a simple newspaper ad with minimal text?

Question 14 14. Which of the following is true regarding the trial stage of the consumer adoption process?

Question 15 15. Mary's three-year old daughter Megan competes in pageants. Mary buys a new curling iron to style Megan's hair. The first time she uses it, Megan's hair is melted and her skin is burned. Mary calls the company to complain and they tell her the curling iron is designed only for use on adult hair. This is an example of _____.

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Question 16 16. Which of the following would be the best example of a nominal purchase decision ?

Question 17 17. Molly was excited to use her tax refund to purchase a brand new dining room set. To her dismay, when the new furniture was delivered to her home, she detected several nicks in the table and some snags and dirt marks on the chair cushions. Molly called the store to reject her order and demand that her deposit be immediately returned. The manager of the store refused, and Molly was forced to take legal action. This is an example of which of the following

Question 18 18. What is NOT involved in the limited decision making process?

Question 19 19. A marketer thinks she has done a good job of creating awareness about a new product and now needs to move potential buyers along to the interest stage. The best way to do this is to _____

Question 20 20. Which federal agency serves as our nation's consumer protection agency and administers laws designed to protect the rights of consumers?

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Question 21 21. Which of the following is not considered a form of fraud?

Question 22 22. When an online retailer collects and stores personal data on customers in exchange for giving the customers discounts through a loyalty program, the customers are surrendering their _____.

Question 23 23. Of the following statements, which one BEST explains how the theory of negligence differs from the theory of strict liability?

Question 24 24. Why must marketers of new products be aware of the consumer adoption process?

Question 25 25. Jonas spends his time intentionally breaching security to break into personal or e-commerce retailers computers for malicious purposes. Jonas is _____.

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Question 26 26. Which stage of the consumer adoption process involves the consumer seeking information about the product?

Question 27 27. Which of the following is NOT true about low involvement purchases?

Question 28 28. The 'Exploding Coca-Cola Case' is based on which of the following types of product liability?

Question 29 29. Product liability laws are:

Question 30 30. Which of the following is an example of when a strict liability standard would apply?

AEPA: Consumer Economics Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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