PILB Financial Investigations and Asset Searches 1 — Questions and Answers
Question 1: When conducting an asset search in Nevada, which public record source is most useful for locating real property owned by a subject?
- County Assessor's Office records (Correct answer)
- State DMV records
- Federal Reserve filings
- Social Security Administration files
Correct answer: County Assessor's Office records
County Assessor's Office records are the primary public source for identifying real property ownership in Nevada.
Question 2: Under Nevada law, a private investigator conducting a financial investigation must obtain a subject's bank account records through which legal method?
- A valid court subpoena or authorization from the account holder (Correct answer)
- A written request to the bank on company letterhead
- Directly accessing the bank's online portal with credentials
- Filing a public records request with the FDIC
Correct answer: A valid court subpoena or authorization from the account holder
Financial account records are protected and can only be legally obtained via court subpoena or with the account holder's written consent.
Question 3: Which of the following is a legal source a licensed Nevada PI may use to locate a subject's vehicle ownership information?
- Nevada DMV records via a permissible purpose request (Correct answer)
- Accessing the DMV database directly without authorization
- Purchasing data from an unlicensed data broker
- Hacking into a dealership management system
Correct answer: Nevada DMV records via a permissible purpose request
Nevada DMV records may be accessed by licensed investigators for permissible purposes as defined under the Driver's Privacy Protection Act (DPPA).
Question 4: What federal law restricts a private investigator's access to consumer credit reports?
- Fair Credit Reporting Act (FCRA) (Correct answer)
- Gramm-Leach-Bliley Act
- Electronic Communications Privacy Act
- USA PATRIOT Act
Correct answer: Fair Credit Reporting Act (FCRA)
The FCRA limits who may obtain consumer credit reports to those with a permissible purpose, such as employment screening or credit transactions.
Question 5: When documenting findings from an asset search for a client, a PI should always:
- Include only verified, source-cited information in the written report (Correct answer)
- Speculate on hidden assets even without supporting evidence
- Provide raw database printouts without analysis
- Include the subject's Social Security number in the final report
Correct answer: Include only verified, source-cited information in the written report
Reports must reflect only verified facts with clear source citations to maintain accuracy and protect both the PI and client legally.
Question 6: A Nevada-licensed PI discovers during a financial investigation that a client's subject may be committing bank fraud. The PI's primary obligation is to:
- Report findings to the client and advise them to consult an attorney (Correct answer)
- Immediately contact the FBI directly on behalf of the client
- Confront the subject about the suspected fraud
- Conceal the information to avoid involvement
Correct answer: Report findings to the client and advise them to consult an attorney
A PI's duty is to the client; the PI should report findings and recommend the client seek legal counsel for any potential criminal referrals.
PILB Financial Investigations and Asset Searches 1
When conducting an asset search in Nevada, which public record source is most useful for locating real property owned by a subject?