Tim Has Been Approached by Kent,his Best Friend,regarding Tim's Credit

question 37

Multiple Choice

Tim has been approached by Kent,his best friend,regarding Tim's credit card debt with 1st Security One.1st Security One previously informed Kent that Tim was in default on his credit card debt,and encouraged Kent to tell his friend to "do the right thing." Kent says he has come to get assurance that Tim will make the required payment.Which of the following legislation has 1st Security One violated by informing Kent of Tim's debt?

• A)Fair Credit Reporting Act
• B)Fair and Accurate Credit Transactions Act
• C)Fair Credit and Charge Card Disclosure Act
• D)Fair Debt Collection Practices Act

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Definitions:

Rational

Characterized by clear, logical thinking, often referring to decision-making that maximizes benefit.

Irrational

Acting without reason or understanding, often defying logical or expected behavior, particularly in economic contexts referring to market participants.

Weak-form Efficient

A form of market efficiency that asserts all past trading information is fully reflected in stock prices, and thus, technical analysis cannot consistently produce excess returns.

Behavioral Patterns

Regularities in the behavior of individuals or groups, often studied in psychology and economics to predict responses to stimuli or decisions.