Which of the Following Are Prohibited by the Fair Debt

question 12

Multiple Choice

Which of the following are prohibited by the Fair Debt Collection Practices Act?

• A) Contacting a debtor at work if the debtor's employer objects.
• B) Misrepresenting the collection agency as a lawyer or police officer.
• C) Contacting a debtor who has notified the collection agency that he or she wants no contact with the agency.
• D) Contacting a debtor at work if the debtor's employer objects, misrepresenting the collection agency as a lawyer or police officer, and contacting a debtor who has notified the collection agency that he or she wants no contact with the agency.
• E) Contacting a debtor at work if the debtor's employer objects, and misrepresenting the collection agency as a lawyer or police officer are prohibited; but contacting a debtor who has notified the collection agency that he or she wants no contact with the agency is not prohibited.

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Definitions:

360-Day Year

A conventional method in finance where the year is assumed to have 360 days for simplifying interest rate calculations, commonly used in commercial lending.

Exact Simple Interest

Interest calculated based on the actual number of days in the loan period divided by the exact number of days in a year, typically 365 or 366.

365-Day Year

A conventional method used in finance that assumes all years have 365 days for the purpose of interest calculation.

Exact Simple Interest

Interest calculated precisely on the principal amount, without compounding, for a specific time period.