ADRA Innovation & Change Management 5

Question 1

Which TSR disclosure must a debt relief provider make before a client enrolls, regardless of the technology used to enroll?

Accepted Answer

The time it will take to make a settlement offer to each creditor and the amount needed to save before offers

Answer

The TSR requires disclosure of timing and savings needed before offers, along with other material terms.

Question 2

In change management, a 'change champion' is best described as:

Accepted Answer

An employee who advocates for the change and helps peers adopt it

Answer

Change champions promote adoption and provide peer support within teams.

Question 3

A debt relief firm wants to expand into a new state. Which step is MOST important before enrolling residents there?

Accepted Answer

Verify and obtain any required state license or registration

Answer

Many states require licensing or registration and set fee limits for debt relief providers.

Question 4

Which tool helps a firm decide whether to adopt a new technology by comparing expected benefits to costs?

Accepted Answer

Cost-benefit analysis

Answer

Cost-benefit analysis weighs anticipated gains against implementation and ongoing costs.

Question 5

After migrating client records to a cloud CRM, which safeguard is required under the GLBA Safeguards Rule for firms handling consumer financial information?

Accepted Answer

A written information security program with risk assessment and access controls

Answer

The FTC Safeguards Rule requires a written security program, risk assessment, and safeguards like access controls.

ADRA - Accredited Debt Relief Agent Practice Test

ADRA - Accredited Debt Relief Agent Practice Test

ADRA Innovation & Change Management 5