Which of the Following Is True Regarding the Gramm-Leach-Bliley Financial

question 21

Multiple Choice

Which of the following is true regarding the Gramm-Leach-Bliley Financial Modernization Act?

• A) It requires that financial institutions provide privacy protections to consumers, that customers be given notice before the sharing of personal information with other entities occurs, and that customers be given the right to opt out of disclosures to third parties.
• B) It requires that financial institutions provide privacy protections to consumers and that customers be given notice before the sharing of personal information with other entities occurs, but not that customers be given the right to opt out of disclosures to third parties.
• C) It requires that financial institutions avoid giving out specific information about the amount of funds in customer accounts, but other customer information may be given to third parties without providing customer notification.
• D) It addresses the amount of financial reserves a bank must hold and bank lending practices, but it does not address customer privacy concerns.

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Definitions:

Letters

Written symbols or characters that are used to create words in various alphabets.

Word-Superiority Effect

A phenomenon where words are more easily recognized and processed than individual letters or non-words in reading and perception tasks.

Whole-Word Method

An approach to teaching reading that emphasizes the recognition of words as whole units rather than as a sequence of letters and sounds.

Intellectual Skills

Abilities related to thinking, reasoning, and problem-solving.