Which of the Following Actions Are Specifically Prohibited by the Fair

question 10

Multiple Choice

Which of the following actions are specifically prohibited by the Fair Credit Reporting Act?

• A) using credit information obtained from a customer as evidence during a trial without obtaining his prior consent
• B) asking someone to get another person's customer information using false, fictitious, or fraudulent statements or using forged, counterfeit, lost, or stolen documents
• C) using a court subpoena to forcibly obtain customer information from a financial institution or directly from a customer of a financial institution
• D) asking someone personally known to a customer to convince the customer to provide his or her credit information

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Definitions:

Deposit

A sum of money placed into a bank account or given as part of a contractual agreement as a security for future performance.

Compounded Monthly

The process of calculating interest on both the initial principal and the accumulated interest from previous periods, with the compounding done monthly.

Future Value

The value of a current asset at a specified date in the future based on an assumed rate of growth.

Invested

The act of allocating resources, usually money, with the expectation of generating an income or profit.