Under the Fair and Accurate Credit Transactions Act (FACTA)

question 28

Multiple Choice

Under the Fair and Accurate Credit Transactions Act (FACTA) ,

• A)a creditor may not discriminate against a borrower on the basis of race,sex,religion,or age.
• B)a debt collector may not harass or abuse debtors.
• C)a credit card company must promptly investigate and respond to any consumer complaints about a credit card bill.
• D)a consumer has the right to obtain one free credit report every year from each of the three major reporting agencies.

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Definitions:

Leverage

The ability to use something to maximum advantage, often referring to the strategic use of resources or capital.

Asset Management

The systematic process of developing, operating, maintaining, and selling assets in a cost-effective manner.

Profitability

The financial metric used to gauge the degree to which a company or organization generates profit relative to its revenue and overall costs.

Breakeven Analysis

A financial calculation to determine the point at which revenue received equals the costs associated with receiving the revenue, resulting in no net loss or gain.