Exam (elaborations)
FCRA EXAM QUESTIONS WITH CORRECT ANSWERS
- Course
- Institution
Exam of 1 pages for the course FCRA at FCRA (FCRA EXAM)
[Show more]
Content preview
FCRA EXAMFCRA Permissible Purpose - answer(1.) When a consumer gives written permission
(2.) In connection with a loan or insurance request
(3.) To review or collect an existing account
(4.) In connection with a business transaction initiated by a consumer
(5.) To provide a consumer with a prescreened firm offer of credit
FCRA - answer Regulation V
Opt-out requirements for affiliate marketing - answer Consumers may choose to opt-out
at any time.
The FCRA preempts state law and regulations relating to credit and insurance
prescreening and information sharing - answer To the extent that state law is
inconsistent with the FCRA
The opt-out must be effective for at least ______ from the date the consumers opt-out
notice was received an implemented - answerFive Years
A financial institution will not be subject to the FCRA substantial requirements that apply
to consumer reporting agencies if it communicates only ___________ or __________
___________ to third parties or among its affiliates. - answertransaction or experience
information
_______________________ that disclose consumer report information trigger the
classification as a consumer reporting agency. - answerNon-affiliated third parties
Alerts on Consumer Reports - answer· Initial Fraud Alert (One Year)
· Extended Fraud Alert (Seven Years)
· Active Duty Alert (Active Military Status)
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Dreamer252. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
82871 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now