Debt Collectors Acquiring Location Information from a Third Party

question 194

Multiple Choice

Debt collectors acquiring location information from a third party:

• A) Must identify themselves and, if expressly asked, must identify their employer
• B) Must state that the call is to confirm or correct location information
• C) Once location information is received, may not communicate with the third party again unless the person asks the debt collector to or the debt collector reasonably believes the earlier response was erroneous or incomplete and that person now has correct or complete location information
• D) All of these

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Definitions:

Generally Accepted Accounting Principles

A set of accounting standards and principles that guide the financial reporting process for public companies in the United States.

Financial Accounting Standards Board

An independent, nonprofit organization responsible for establishing accounting and financial reporting standards for companies and non-profit organizations in the United States.

Public Company Accounting Oversight Board

A regulatory body established by Congress to oversee the audits of public companies in order to protect investors and the public interest.

Return on Assets Ratio

An indicator of how profitable a company is relative to its total assets, measuring the efficiency of asset use.