Canada's New Privacy Act Changes the Way Companies Collect,use,or Disclose

question 29

Multiple Choice

Canada's new Privacy Act changes the way companies collect,use,or disclose customer information.Which of the following is not one of the principles upon which the act is based?

• A) How a retailer plans to use customer data must be identified at the time of collection of the customer's information
• B) A retailer does not need consent for the collection, use, or disclosure of personal data
• C) Retailers must obtain consent from consumers prior to passing on their personal information to third parties
• D) Retailers must keep personal information on consumers as accurate and up-to-date as possible
• E) Retailers must make customers' personal information available upon their request

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Definitions:

Best Efforts Underwriting

A method in securities underwriting where the underwriter agrees to sell as much of the offering as possible, but does not guarantee the sale of the entire issue.

Subscription Price

The amount a subscriber pays to purchase a new issue of securities.

Market Price

The current offer price at which one can engage in buying or selling an asset or service.

Prospectus

Legal document describing details of the issuing corporation and the proposed offering to potential investors.