Vdmc Gramm-leach-bliley ACT Compliance Exam

12 Questions

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Vdmc Gramm-leach-bliley ACT Compliance Exam


Questions and Answers
  • 1. 
    Have you viewed the Company's training on GLB compliance?
    • A. 

      True

    • B. 

      False

  • 2. 
    What is the maximum penalty for violating the GLB?
    • A. 

      $1000

    • B. 

      $10,000 and one year in jail

    • C. 

      $50,000 and three years in jail

    • D. 

      $100,000 and five years in jail

  • 3. 
    Which Federal Agency enforces the GLB Act?
    • A. 

      HUD

    • B. 

      FBI

    • C. 

      CFPB

    • D. 

      No Federal Agency enforces it

  • 4. 
    According to the Financial Privacy Rule under the GLB Act, at the time of establishing a customer relationship with a consumer, a financial institution must provide the consumer with a privacy notice.
    • A. 

      True

    • B. 

      False

  • 5. 
    Customers may limit VanDyk’s sharing their non-public personal info for purposes of responding to court orders and investigations.
    • A. 

      True

    • B. 

      False

  • 6. 
    Which of these places is the safest for paper documents to be kept when not in your vicinity or control?
    • A. 

      A folder on my desk.

    • B. 

      In a filing cabinet.

    • C. 

      In the trash.

    • D. 

      In a locked cabinet or drawer.

  • 7. 
    A cardboard box is an acceptable place to keep sensitive documents as long as it’s hidden under a desk.
    • A. 

      True

    • B. 

      False

  • 8. 
    • A. 

      U.S. Mail

    • B. 

      E-mail

    • C. 

      Fax

    • D. 

      Uploaded to Encompass

  • 9. 
    • A. 

      Work computer

    • B. 

      My smart phone that is set up to receive my work emails

    • C. 

      Home computer that I often use for work

    • D. 

      All of the above

  • 10. 
    Emailing is the safest way to transmit information. 
    • A. 

      True

    • B. 

      False

  • 11. 
    A caller who is trying to confirm the social security number of a past client should be:
    • A. 

      Provided the information requested.

    • B. 

      Hung up on.

    • C. 

      Referred to the Legal Department.

    • D. 

      Reported to the police.

  • 12. 
    An employee of VanDyk would never be fined or imprisoned for an accidental violation of the GLB Act. 
    • A. 

      True

    • B. 

      False