BA 342 EXAM QUESTIONS WITH
CORRECT SOLUTIONS||100%
GUARANTEED PASS||UPDATED
2026/2027 SYLLABUS||ALREDY A+
GRADED||<<NEWEST VERSION>>
FDA - ANSWER ✓ responsible for protecting public health by ensuring safety,
efficacy, and security of human and vet. drugs, bio products, medical products, the
nation's food supply, and products that emit radiation
Federal Packaging and Labeling Act - ANSWER ✓ prohibits deceptive labeling
of certain consumer products and requires disclosure of certain important
information
administered by FTC but FDA also involved
most important issue = ingredient labeling
Other Product Information Issues (& laws that prevent them) - ANSWER ✓
Equal Credit Reporting Act - prohibits discrimination in consumer credit
Truth in Lending Act - all suppliers of consumer credit must fully disclose all
terms and permit 3 day right of recission in any transaction involving consumer's
home residence
Fair Credit Reporting Act - Ensure's consumer reporting agencies provide info in a
manner that's fair and equitable
Fair Debt Collection Practice - regulates 3rd party debt collection agencies
Consumer Product Safety Commission - ANSWER ✓ Independent regulatory
agency created by CPS act of 1972
reduces risk of injuries and death from consumer products by:
,developing standards w industry
enforcing standards
banning prpducts
recall and repair
conducting research
informing consumers and responding to inquiries
Consumer product safety commission website - ANSWER ✓ protects public from
unreasonable risks of injury and death associated with consumer products
Roles: safety education, regulation, laws, standards, research/statistics, recalls,
business and manufacturing
Ford/Firestone Case - ANSWER ✓ ford deflects and pins blame on firestone
firestone reatliated and blamed ford explorers (tendency to roll over, decatur plant,
customer driving, heavy weight)
firestone initaties corporate divorce, hurts ford brand, CEO Nassar fired
no one accepts responsibility - related to liability
Tireplayers - ANSWER ✓ victims (271 dead, 1000s injured)
ford motor
bridgestone/firestone
randy roberts
NHTSA
Consumers
other car companies
general public
government
statefarm/other insurance
venezuela, saudi arabia, others
, Ladders and Liability example - ANSWER ✓ contractual: whatever you do after
you buy it is up to you
Due care: offer safer ladders and high impact communication (manuals)
Social Cost: accepting all responsibility even for consumer negligence
Smartphones and Liability example - ANSWER ✓ contractual: whatever you do
after you buy iphone is your choice
Due Care: "please follow laws when using iPhone, beware of distracted driving,
etc.", offer "dnd while driving" and other features
Social Cost: accepting all responsibility even for people texting and driving
Product Liability (3 forms) - ANSWER ✓ Contractual
Due care/due dilligence
social cost
Contractual Liability - ANSWER ✓ whatever you do after sale is up to you
Due care liability - ANSWER ✓ everything done to ensure safety
social cost liability - ANSWER ✓ taking full responsibility for all negative
outcomes
strict and absolute
Strict Liability - ANSWER ✓ anyone in value chain of product is liable for harm
caused to user if defective
(manufacture, assembly, sale, delivery)
Absolute Liability - ANSWER ✓ manufacturer liable for damages even if there
was no way of knowing if problem would cause a problem later
Product Liability Risk Management Program - ANSWER ✓ ensures product is
safe through 5 steps:
, transfer risk through mgmt of suppliers
build safety into product design
keep essential records
enable/review customer feedback
Caveat emptor - ANSWER ✓ let the buyer beware
Buyer has as much knowledge as the seller
caveat vendor - ANSWER ✓ let the seller take care
businesses held responsible for all products they're selling on the market
challenge = making products as safe as possible while making them affordable and
useful to consumers
CSR Related Concepts (Fig 2.2) - ANSWER ✓ corporate citizenship
sustainability
conscious capitalism
creating shared value
Corporate responsibility
4 Part Definition of CSR - ANSWER ✓ Economic
Legal
Ethical
Discretionary/Philanthropic
Economic Responsbility - ANSWER ✓ Objective = produce goods and services
that society wants and sell them at a fair price
management concepts directed towards financial effectiveness
Legal Responsibilties - ANSWER ✓ Articulate basis of fair practices established
by law makers
CORRECT SOLUTIONS||100%
GUARANTEED PASS||UPDATED
2026/2027 SYLLABUS||ALREDY A+
GRADED||<<NEWEST VERSION>>
FDA - ANSWER ✓ responsible for protecting public health by ensuring safety,
efficacy, and security of human and vet. drugs, bio products, medical products, the
nation's food supply, and products that emit radiation
Federal Packaging and Labeling Act - ANSWER ✓ prohibits deceptive labeling
of certain consumer products and requires disclosure of certain important
information
administered by FTC but FDA also involved
most important issue = ingredient labeling
Other Product Information Issues (& laws that prevent them) - ANSWER ✓
Equal Credit Reporting Act - prohibits discrimination in consumer credit
Truth in Lending Act - all suppliers of consumer credit must fully disclose all
terms and permit 3 day right of recission in any transaction involving consumer's
home residence
Fair Credit Reporting Act - Ensure's consumer reporting agencies provide info in a
manner that's fair and equitable
Fair Debt Collection Practice - regulates 3rd party debt collection agencies
Consumer Product Safety Commission - ANSWER ✓ Independent regulatory
agency created by CPS act of 1972
reduces risk of injuries and death from consumer products by:
,developing standards w industry
enforcing standards
banning prpducts
recall and repair
conducting research
informing consumers and responding to inquiries
Consumer product safety commission website - ANSWER ✓ protects public from
unreasonable risks of injury and death associated with consumer products
Roles: safety education, regulation, laws, standards, research/statistics, recalls,
business and manufacturing
Ford/Firestone Case - ANSWER ✓ ford deflects and pins blame on firestone
firestone reatliated and blamed ford explorers (tendency to roll over, decatur plant,
customer driving, heavy weight)
firestone initaties corporate divorce, hurts ford brand, CEO Nassar fired
no one accepts responsibility - related to liability
Tireplayers - ANSWER ✓ victims (271 dead, 1000s injured)
ford motor
bridgestone/firestone
randy roberts
NHTSA
Consumers
other car companies
general public
government
statefarm/other insurance
venezuela, saudi arabia, others
, Ladders and Liability example - ANSWER ✓ contractual: whatever you do after
you buy it is up to you
Due care: offer safer ladders and high impact communication (manuals)
Social Cost: accepting all responsibility even for consumer negligence
Smartphones and Liability example - ANSWER ✓ contractual: whatever you do
after you buy iphone is your choice
Due Care: "please follow laws when using iPhone, beware of distracted driving,
etc.", offer "dnd while driving" and other features
Social Cost: accepting all responsibility even for people texting and driving
Product Liability (3 forms) - ANSWER ✓ Contractual
Due care/due dilligence
social cost
Contractual Liability - ANSWER ✓ whatever you do after sale is up to you
Due care liability - ANSWER ✓ everything done to ensure safety
social cost liability - ANSWER ✓ taking full responsibility for all negative
outcomes
strict and absolute
Strict Liability - ANSWER ✓ anyone in value chain of product is liable for harm
caused to user if defective
(manufacture, assembly, sale, delivery)
Absolute Liability - ANSWER ✓ manufacturer liable for damages even if there
was no way of knowing if problem would cause a problem later
Product Liability Risk Management Program - ANSWER ✓ ensures product is
safe through 5 steps:
, transfer risk through mgmt of suppliers
build safety into product design
keep essential records
enable/review customer feedback
Caveat emptor - ANSWER ✓ let the buyer beware
Buyer has as much knowledge as the seller
caveat vendor - ANSWER ✓ let the seller take care
businesses held responsible for all products they're selling on the market
challenge = making products as safe as possible while making them affordable and
useful to consumers
CSR Related Concepts (Fig 2.2) - ANSWER ✓ corporate citizenship
sustainability
conscious capitalism
creating shared value
Corporate responsibility
4 Part Definition of CSR - ANSWER ✓ Economic
Legal
Ethical
Discretionary/Philanthropic
Economic Responsbility - ANSWER ✓ Objective = produce goods and services
that society wants and sell them at a fair price
management concepts directed towards financial effectiveness
Legal Responsibilties - ANSWER ✓ Articulate basis of fair practices established
by law makers
