Which of the Following Is a True Statement Regarding the Gramm-Leach-Bliley

question 3

Multiple Choice

Which of the following is a true statement regarding the Gramm-Leach-Bliley Act?

• A) The act gives financial institutions the right to share personal information for a profit.
• B) The act expressly requires financial institutions to protect against identity theft.
• C) The act allows financial institutions to share personal information, as long as it is not for a profit.
• D) The act protects confidentiality of customer information.

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Definitions:

Rate of Earnings

Measures the speed at which a company or an investment generates income relative to a certain amount of assets, capital, or equity.

Compound Interest

The process of calculating interest on both the primary amount of a loan or deposit and on the interest that has previously been accrued over time.

Net Present Value

A financial metric that calculates the present value of all future cash flows (both inflows and outflows) of an investment, discounted back at a specific rate.

Rate of Return

The profit or deficit achieved from an investment during a certain timeframe, represented as a proportion of the investment's initial outlay.