Which of the Following Is an Accurate Description of the Privacy

question 51

Multiple Choice

Which of the following is an accurate description of the Privacy Act of 1974?

• A)It prohibits businesses from sending misleading or deceptive commercial emails but denies recipients any legal recourse on their own.
• B)It stipulates how financial institutions are required to protect the privacy of consumers' personal financial information and notify them of their privacy policies annually.
• C)It establishes requirements that govern how personally identifiable information on individuals is collected, used, and disseminated by federal agencies.
• D)It requires organizations to notify state residents if sensitive data are released.

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Definitions:

Conditional Sales Contract

An agreement for the purchase of goods that does not fully transfer ownership to the buyer until certain conditions, typically full payment, have been met.

Simple Interest

Interest calculated only on the principal amount, or the initial sum of money borrowed or invested, without compounding.

Finance Company

A business that provides loans to individuals and companies, unlike banks, primary lending revolves around installment credit and financing consumer purchases.

Assignable Loan Contract

A loan agreement that allows the lender to transfer the loan to another party.