What Is the Gramm-Leach-Bliley Act

question 36

Multiple Choice

What is the Gramm-Leach-Bliley Act?

• A)Implements the principle that a signature,contract,or other record may not be deleted
• B)Denies legal effect,validity,or enforceability solely because it is electronic form
• C)Addresses a myriad of legal privacy issues that were resulting from the increasing use of computers and other technology specific to telecommunications
• D)Makes it a violation of federal law to knowingly use another's identity
• E)A major piece of legislation affecting the financial industry and containing significant privacy provisions for individuals

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Definitions:

Straight-Line Depreciation

A method of allocating the cost of a tangible asset over its useful life in an equal yearly amount.

Renovation Cost

The total expenses incurred during the process of improving or updating a property.

Initial Investments

Capital outlay at the start of a project, including costs for acquiring assets, setup, and other expenses necessary for the beginning of operations.

After-Tax Discount Rate

The discount rate used in investment appraisal and financial analysis that takes into account the effect of taxes on the rate of return.