Exam (elaborations)
FCRA Guidelines Questions with Solutions 2024
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Exam of 4 pages for the course FCRA at FCRA (FCRA Guidelines)
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FCRA GuidelinesConsumer Report - answer any information about someone's credit, lifestyle and
personal characteristics that comes from a CRA and that's used to help make decisions
about that person's credit, insurance, housing, employment, and other important
matters. Includes:
- Credit worthiness
- Credit standing
- Credit capacity
- Character
- General reputation
- Personal characteristics
- Lifestyle
and that plays a role in determining a consumer's eligibility for credit, insurance,
housing, employment, or other business purposes.
AKA: a background check
Consumer Reporting Agency (CRA) - answerany organization that assembles or
evaluates credit or other consumer information, for a fee, in order to provide "consumer
reports" to third parties (e.g., GoodHire).
Consumer reporting agencies make consumer reports for targeted users and sells those
reports to those users.
Are employers obligated to engage the services of a consumer reporting agency for the
background screening process? - answerNo, but the CRA is always subject to the
requirements under the FCRA.
ESIGN Act - answerThe Electronic Signatures in Global and National Commerce Act is
a United States federal law passed by the U.S. Congress to facilitate the use of
electronic records and electronic signatures in interstate and foreign commerce by
ensuring the validity and legal effect of contracts entered into electronically. This law
allows consumers to provide their "written" authorization electronically or via fax.
Equal Employment Opportunity Commission (EEOC) - answerThe EEOC is a federal
agency that administers and enforces civil rights laws against workplace discrimination.
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