Under the Clean Water Act:

a$.$ the EPA develops effluent guidelines on an industry$-$by$-$industry basis

b$.$ all of the other choices

c$.$ none of the other choices

d$.$ the EPA develops health$-$based pollution control standards

e$.$ states must allocate the burden of reducing pollution among the existing sources

The Securities Litigation Reform Act of $1995$:

a$.$ makes companies strictly liable for misstatements

b$.$ does none of these things

c$.$ gives companies and executives a safe harbor when making forecasts about the future

d$.$ imposes greater liability on companies that make predictions about future performance

e$.$ changes the liability standard in securities fraud cases to negligence

A company that offers a fixed portfolio of securities would be defined by the Investment Company Act as a:

a$.$ fixed investment company

b$.$ face$-$amount certificate company

c$.$ none of the other specific choices are correct

d$."$no load" company

e$.$ management company

A securities professional who are in the business of charging fees for recommendations on investments is a$($n$)$:

a$.$ broker

b$.$ investment adviser

c$.$ scalper

d$.$ churner

e$.$ dealer

The Fair Debt Collection Practices Act prohibits a debt collector from calling a debtor at home more than three times regarding any one debt.

a$.$ True

b$.$ False

In Chuway v$.$ National Action Financial Services, where Chuway sued a debt collector for violating the Fair Debt Collection Practices Act by having unclear language in a collection letter, the appeals court held that the law had been violated for failure to use precise language in the letter.

a$.$ True

b$.$ False

The FTC uses the $\_\_\_\_$ to put its policy about advertising into effect:

a$.$ advertising decree program

b$.$ advertising regulation program

c$.$ none of the other choices are correct

d$.$ advertising monitoring program

e$.$ legitimate advertising program

The part of the Dodd$-$Frank Act, a major financial reform bill passed in $2010,$ that has the largest impact on consumer credit markets is its:

a$.$ establishment of the Bank Regulation Bureau

b$.$ none of the other choices are correct

c$.$ establishment of the Consumer Financial Regulation Bureau

d$.$ establishment of new laws that make it harder for college students to get credit cards

e$.$ establishment of new laws prohibiting credit discrimination based on sexual orientation

When a company is accused of engaging in an illegal tying arrangement, it must be charged under the Sherman Act.

a$.$ True

b$.$ False

Selling a product at below cost in an effort to get a larger market share may violate the Robinson$-$Patman Act.

a$.$ True

b$.$ False