Under the Fair and Accurate Credit Transaction Act, the FTC

question 332

Multiple Choice

Under the Fair and Accurate Credit Transaction Act, the FTC has issued regulations:

• A) that credit card receipts may not show more than the last five numbers of a card
• B) that consumers must be allowed to correct bad information on their credit reports
• C) that consumer information must be properly disposed of
• D) that credit card details may not be printed on credit receipts
• E) all of the other choices

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Definitions:

Investment

Committing financial assets with the objective of receiving income or profit in return.

GIC

A Guaranteed Investment Certificate (GIC) is a Canadian investment that offers a guaranteed rate of return over a fixed period.

Monthly Interest

Monthly interest is the amount of interest earned or paid on an investment or loan calculated and paid on a monthly basis.

Regular-interest

The standard or typical interest rate applied to savings or investment accounts, calculated over a set period.