CIPP/US Healthcare & Financial Privacy 2

Question 1

The Gramm-Leach-Bliley Act (GLBA) requires financial institutions to provide customers with privacy notices and:

Accepted Answer

Implement a comprehensive information security program to safeguard customer financial information

Answer

The GLBA requires financial institutions to provide privacy notices and, under the Safeguards Rule, to develop and maintain a comprehensive written information security program.

Question 2

The Fair Credit Reporting Act (FCRA) primarily governs:

Accepted Answer

The accuracy, fairness, and privacy of consumer credit reports and use of consumer report information

Answer

The FCRA regulates consumer reporting agencies and the use of consumer report information by furnishers and users of such reports.

Question 3

Under the FCRA, what right does a consumer have when adverse action is taken based on information in a credit report?

Accepted Answer

The right to receive notice of the adverse action and the name of the consumer reporting agency that provided the report

Answer

The FCRA requires that when adverse action is taken based on a consumer report, the consumer must be notified and given the name of the reporting agency so they can access and dispute the report.

Question 4

Under the GLBA's opt-out provision, consumers may prevent financial institutions from doing which of the following?

Accepted Answer

Sharing their nonpublic personal information with non-affiliated third parties for marketing purposes

Answer

The GLBA's opt-out right allows consumers to prevent financial institutions from sharing their nonpublic personal information with non-affiliated third parties.

Question 5

The Right to Financial Privacy Act (RFPA) generally requires the federal government to do which of the following before accessing customer financial records from a bank?

Accepted Answer

Obtain customer authorization, serve an administrative subpoena, or obtain a court order or search warrant

Answer

The RFPA establishes procedural requirements the federal government must follow when seeking access to customers' financial records held by financial institutions.

CIPP/US - Certified Information Privacy Professional/United States Exam Practice Test

CIPP/US - Certified Information Privacy Professional/United States Exam Practice Test

CIPP/US Healthcare & Financial Privacy 2