Right To Financial Privacy Act: Trivia Quiz

10 Questions | Total Attempts: 94

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Right To Financial Privacy Act: Trivia Quiz

Right to financial privacy act: trivia quiz. A lot of people put their money in financial institutions and their financial information is not to be made public to just any one. This case also applies to some government investigations that depending on circumstances might or might not need the client`s permission to get the data. Get to learn more about application of the act in the quiz below. All the best!


Questions and Answers
  • 1. 
    Complete the following sentence: "An original record held by a financial institution pertaining to a customer’s relationship with the financial institution is a___________."
    • A. 

      Search warrant

    • B. 

      Summons

    • C. 

      Subpoena

    • D. 

      Financial record

  • 2. 
    A customer can request his or her financial records to be provided to a specific Government Authority.
    • A. 

      True

    • B. 

      False

  • 3. 
    When a Government Authority requests customer records from a financial institution, what party is responsible for notifying the customer of the request?
    • A. 

      The requesting government authority

    • B. 

      The newspaper

    • C. 

      The customer’s attorney

    • D. 

      The financial institution

  • 4. 
    It is a violation of RTFP to tell a customer that a Government Authority has requested information about him or her.
    • A. 

      True

    • B. 

      False

  • 5. 
    The Right to Financial Privacy Act establishes specific procedures that federal government authorities must follow in order to obtain information from a financial institution about a customer's financial records.
    • A. 

      True

    • B. 

      False

  • 6. 
    The Right to Financial Privacy Act requires the government to take which of the following activities in order to obtain a customer's financial records:
    • A. 

      Obtaining a subpoena

    • B. 

      Notifying the customer of the request

    • C. 

      Providing the customer with an opportunity to object

    • D. 

      All of the above

  • 7. 
    A financial institution must receive written certification that the agency has complied with the RFPA prior to releasing customer's financial information.
    • A. 

      True

    • B. 

      False

  • 8. 
    Weber Olcese shall release customer's information to a government authority based solely on a verbal request.
    • A. 

      True

    • B. 

      False

  • 9. 
    If Weber Olcese receives a request for a customer's financial records the XRFPA code needs to be added to the account.
    • A. 

      True

    • B. 

      False

  • 10. 
    There is no need for Weber Olcese to inform its clients when a government agency requests a customer's financial information
    • A. 

      True

    • B. 

      False

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