EduTest Test Industry Regulations 4

Question 1

Which scenario would be considered a violation of the Sherman Antitrust Act?

Accepted Answer

Two competitors agreeing to fix prices

Answer

A company gaining market share through superior products

Answer

A business acquiring a smaller rival through a legal merger

Answer

A firm offering volume discounts to large customers

Question 2

What does the GDPR primarily regulate for U.S. companies doing business with EU residents?

Accepted Answer

Collection and processing of personal data

Answer

International tax reporting

Answer

Cross-border employment practices

Answer

Product safety standards for exports

Question 3

Which regulation governs the disposal of hazardous waste from cradle to grave in the United States?

Accepted Answer

RCRA

Answer

CERCLA

Answer

Clean Air Act

Answer

EPCRA

Question 4

An employee who reports their employer's illegal activity to a government agency is protected under which legal principle?

Accepted Answer

Whistleblower protection

Answer

Respondeat superior

Answer

Employment at will

Answer

Vicarious liability

Question 5

The Dodd-Frank Wall Street Reform Act created which new consumer protection agency?

Accepted Answer

CFPB

Answer

SEC

Answer

FDIC

Answer

OCC

Question 6

Under ERISA, what is a fiduciary's primary obligation regarding an employee benefit plan?

Accepted Answer

Act solely in the interest of plan participants and beneficiaries

Answer

Maximize returns for the company sponsor

Answer

Comply with IRS tax minimization strategies

Answer

Report plan performance to the SEC annually

Question 7

Which of the following practices is prohibited by the Fair Debt Collection Practices Act (FDCPA)?

Accepted Answer

Calling a debtor before 8 a.m. or after 9 p.m.

Answer

Contacting a debtor by mail

Answer

Requesting payment of a valid debt

Answer

Reporting unpaid debts to credit bureaus