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1. What is the significance of the date of delinquency?

a)       The date on which an account becomes obsolete for credit reporting is calculated starting from the date of delinquency.

b)       The date of delinquency is “for your information only” and has no significance.

c)        The date of delinquency must be at least 30 days after a consumer has their 18th birthday, or else the account is invalid.

2. What is the purpose of the Data Furnishers Rule?

a)        To set limits on what kind of businesses can furnish information to credit reporting agencies.

b)       To further protect consumers by establishing stronger requirements for data furnishers for the accuracy of information submitted to credit reporting agencies

c)        To prevent consumers from accessing their own credit information.

3. Which of the following is not required to be included in a creditor’s notice of adverse action when credit is denied based on information in the consumer’s credit report?

a)        The consumer’s credit score.

b)       Notice to the consumer that they can obtain a free copy of their credit report.

c)        The reason for the adverse action.

d)       A promise to reconsider the consumer’s credit application automatically in 60 days.

4. When a debt collector signs a Business Associate agreement with a Covered Entity, what should it be prepared to do?

a)        Cease call recording and monitoring of calls made on behalf of medical clients.

b)       Cease allowing remote workers to handle accounts placed by medical clients.

c)        Provide training to all employees to ensure that they know how to comply with HIPAA requirements.

5. What feature of a dialing system brings that system under the controls of the TCPA?

a)        It generates random or sequential telephone numbers that it can store and dial.

b)       It can be programmed to limit the number of calls to the numbers it dials.

c)        It can generate a report showing the calls made during any given time period.

6.  Overshadowing occurs in the initial written communication when:

a)        The amount of the debt is stated in the letter.

b)       A statement in the letter is inconsistent with the disclosure of the consumer’s rights.

c)        The debt collector’s address and telephone number are listed on the letterhead or in the footer.

d)       All of these options


7. What is required for telemarketers and debt collectors alike to send prerecorded messages or messages generated using an artificial voice to a consumer?

a)       Prior express consent of the consumer

b)       A method to screen out third party numbers

c)        Scrub numbers against the Do Not Call Registry.


8. How are fraud alerts initiated?

a)        Anytime there is a data breach, credit bureaus place a fraud alert on the accounts of consumers whose information was included in the breach.

b)       Entities that have been subjected to a data breach report the breach and the consumers involved to credit reporting agencies.

c)        Consumers may notify credit reporting agencies that they have been or believe to have been the victim of fraud.


9. What must service members do to invoke their SCRA rights?  

a)        The servicemember must contact the Department of Defense who will contact credit reporting agencies and notify them of the servicemembers SCRA status.  

b)       The service member must notify the creditor in writing and send a copy of the service member’s military orders.

c)        Nothing. SCRA status attaches automatically when the service member enters active duty or active services.


10. Who is NOT considered a DEBT COLLECTOR as defined by the FDCPA?

a)        A collection agency using their own name to collect debts belonging to their clients

b)       A law firm collecting on debts belonging to its clients

c)        A creditor collecting debts of their own, in their own name

d)       A bank collecting on their own accounts, but using a different name to do so

e)       All of these options