Virtual Assistant Financial and Legal Practices 3 — Questions and Answers
Question 1: A client asks a VA to handle their personal banking passwords. What is the most secure practice?
- Use a reputable password manager with shared access controls (Correct answer)
- Email passwords in plain text
- Write them on a sticky note
- Post them in a shared spreadsheet
Correct answer: Use a reputable password manager with shared access controls
A password manager with controlled sharing protects credentials far better than email or plain text.
Question 2: If a VA processes payments using a client's credit card data, which standard is most relevant?
- PCI DSS (Correct answer)
- HIPAA
- OSHA
- GDPR-only
Correct answer: PCI DSS
PCI DSS sets security requirements for handling and storing payment card information.
Question 3: A client in the EU shares customer data with a US VA. Which regulation likely applies to that data?
- GDPR (Correct answer)
- FERPA
- FLSA
- ADA
Correct answer: GDPR
The GDPR governs personal data of EU residents regardless of where the processor is located.
Question 4: What should a VA do before deleting a client's financial files at the end of a contract?
- Confirm retention requirements and get written authorization (Correct answer)
- Delete immediately without asking
- Sell the data
- Keep copies indefinitely without consent
Correct answer: Confirm retention requirements and get written authorization
Records may have legal retention periods, so confirming and getting written approval avoids liability.
Question 5: A VA notices a client invoice contains a math error overcharging a customer. What is the ethical action?
- Notify the client and correct the error (Correct answer)
- Ignore it to save time
- Keep the extra money
- Send it anyway and stay silent
Correct answer: Notify the client and correct the error
Flagging and correcting errors maintains honesty and protects the client's reputation.
Question 6: Which payment method gives a VA the clearest paper trail for bookkeeping?
- Bank transfer or platform with transaction records (Correct answer)
- Untracked cash
- Bartered favors
- Anonymous gift cards
Correct answer: Bank transfer or platform with transaction records
Electronic transfers and payment platforms automatically log dates, amounts, and parties.
Question 7: What does 'scope creep' refer to in a VA contract context?
- Work expanding beyond the agreed terms without new pay (Correct answer)
- A client paying early
- A reduction in client emails
- A software update
Correct answer: Work expanding beyond the agreed terms without new pay
Scope creep is when added tasks exceed the original agreement, often without extra compensation.
Virtual Assistant Financial and Legal Practices 3
A client asks a VA to handle their personal banking passwords.
What is the most secure practice?