Select the FALSE Statement Regarding Violations of the HIPAA Privacy

question 19

Multiple Choice

Select the FALSE statement regarding violations of the HIPAA Privacy rule.

• A) Covered entities that violate the standards or implementation specifications will be subjected to civil penalties of up to $100 per violation except that the total amount imposed on any one person in each calendar year may not exceed $25,000 for violations of one requirement.
• B) Criminal penalties for non-compliance are fines up to $65,000 and one year in prison for each requirement or prohibition violated.
• C) Criminal penalties for willful violation are fines up to $60,000 and one year in prison for each requirement or prohibition violated.
• D) Criminal penalties for violations committed under "false pretenses are fines up to $100,000 and five years in prison for each requirement or prohibition violated.
• E) Criminal penalties for violations committed with the intent to sell, transfer, or use PHI for commercial advantage, personal gain or malicious harm are fines up to $250,000 and ten years in prison for each requirement or prohibition violated.

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Definitions:

Short 100 Shares

The process of selling 100 shares that are not currently owned, with the expectation of buying them back at a lower price for a profit.

Initial Margin

The minimum amount of funds required to open a position in the futures market, intended to cover potential losses.

Maintenance Margin

The minimum amount of capital that must be maintained in a margin account after a purchase or trade, to cover the risk of loss.

Margin Call

A requirement from a broker for an investor to add more cash or securities to their account to mitigate potential losses.