The FCRA Exam Quiz is an essential tool to test your knowledge and understanding of the Fair Credit Reporting Act (FCRA). This quiz aims to assess your comprehension of the key provisions, requirements, and regulations outlined in the FCRA. From consumer rights and privacy protection to the responsibilities of credit reporting agencies, this quiz covers a wide range of topics See morecrucial to understanding the FCRA. Whether you're preparing for the actual FCRA exam or simply interested in expanding your knowledge of consumer credit laws, this quiz offers an engaging and informative way to gauge your understanding of the FCRA's intricacies.
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False
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In person if available
By electronic means, if available from the consumer reporting agency.
By telephone, if the consumer has made a written request for disclosure by telephone.
All of the above.
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Provide the consumer with information on how to contact the Federal Trade Commission and the nationwide consumer reporting agencies.
Tell the consumer you have no obligation.
Refer the consumer to the local police department.
Take the fraud alert and add it to your internal file.
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False
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In response to the order of a court having jurisdiction to issue such an order.
In accordance with the written instructions of the consumer to whom it relates.
To a person, which the consumer reporting agency has reason to believe intends to use the information for insurance underwriting purposes.
All of the above.
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Cases under Title 11 or under the Bankruptcy Act that were filed in the courts more than ten years ago.
Suits and judgements that were filed in the courts more than seven years ago.
Paid liens that were filed in the courts more than seven years ago.
All of the above.
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Given to each patient at the first visit after April 14, 2003
Posted on my Web site, if I have one
Posted in the office
All of the above
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False
True
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A $5000 fine and/or 1 year in jail
A fine and/or 2 years in jail.
A $1000 fine and/or 5 years in jail.
A written warning from his/her supervisor.
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Bankruptcy information no matter how long ago the bankruptcy was filed.
Both B & C
Notice that a credit account has been voluntarily closed by the consumer if so informed by the furnisher of the data.
Notice that an item is under dispute by the consumer if so informed by the furnisher of that data.
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Appropriate proof of identification and an identity theft report.
The identification of information on the report alleged to be fraudulent.
A statement from the consumer that the information alleged to be fraudulent does not belong to the consumer.
All of the above.
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False
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Provide the consumer with notice of the decision
Provide the name, address and telephone number of the consumer reporting agency which furnished the information.
Tell the consumer that the consumer reporting agency did not make the decision to take an adverse action.
All of the above.
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The agency is not required to take any action other than telling the consumer to contact the person who furnished the information.
The agency will reinvestigate and will charge the consumer a reasonable administrative fee.
The agency will reinvestigate free of charge and record the current status of the disputed information or delete the item from the file.
None of the above.
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I must keep a record of this for six years.
I must give the patient a full accounting upond proper request.
There is no such thing as a non-authorized request.
A and B
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All information in the consumers file at the time of the request.
The identity of each person that procured a report.
The identity of the end user of the report procured through a reseller.
All of the above.
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True
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False
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5 business day period beginning on the date on which the notice of dispute was received.
5 business day period beginning on the date on which the notice of dispute was postmarked.
7 business day period beginning on the date on which the notice of dispute was received.
7 business day period beginning on the date on which the notice of dispute was postmarked.
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Securitized
Placed for collection
Transferred as part of the assets of a company because of a merger
Repurchased from a third party to which it has been assigned for collection
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It must certify all information before issuing the report.
All of the above.
It must follow reasonable procedures to assure maximum possible accuracy of the information.
It must guarantee that the report will be prepared within 24 hours of the request.
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False
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False
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Must be done within 30 days from the date on which the agency receives the notice of the dispute from the consumer
May be extended beyond the 30 day period, but for no more than 20 additional days.
Must be extended if the information that is the subject of the reinvestigation is found to be inaccurate or incomplete or cannot be verified.
All of the above
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False
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Any actual damages sustained by the consumer as a result of the failure.
Any actual damages sustained by the consumer as a result of the failure, plus court costs and reasonable attorneys fees.
Any actual damages sustained by the consumer as a result of the failure, reasonable attorneys fees, and a penalty fine of no more than $10000.
None of the above.
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An Acknowledgment that written permission will be obtained from the consumer before a consumer report is requested.
An acknowledgement that the employer will not violate any applicable federal or state equal employment opportunity law or regulation.
An acknowledgment that, on a separate written disclosure, the consumer will receive notice that a consumer report may be obtained for employment purposes.
All of the above.
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The circumstances under which a consumer can obtain a free consumer report
The consumers right to dispute any inaccurate or incomplete information.
How to obtain a credit score from a consumer reporting agency.
All of the above.
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