Which of the Following Is an Accurate Statement About the Privacy

question 80

Multiple Choice

Which of the following is an accurate statement about the Privacy Act of 1974?

• A)It bars administrative agencies from gathering information about private citizens unless the agencies have obtained a court order justifying the information gathering.
• B)It is frequently used by public interest groups to obtain information useful to the advancement of their public causes.
• C)It ensures that every portion of every meeting of an agency shall be open to public observation.
• D)It allows persons to inspect files kept on them by administrative agencies and to request corrections of erroneous or incomplete information.

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Definitions:

Actuarial Error

Mistakes in the calculations or assumptions made by actuaries, which can affect insurance premiums, pension plans, and other financial assessments.

Consumption Smoothing

An economic concept that describes how individuals attempt to achieve a stable level of consumption over their lifetime, regardless of fluctuations in income.

Defined Benefit Pension

A type of pension plan where an employer promises a specified monthly benefit upon retirement, which is predetermined by a formula based on the employee's earnings history, tenure of service, and age.

Defined Contribution Plan

A retirement plan where contributions are defined, but the eventual payout depends on the investment's success.