Federal Regulation (AZ-L)

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Question 1 of 8

1. Question

Which of the following statements about the Fair Credit Reporting Act is NOT true?

It regulates how information about consumers may be gathered and helps ensure the validity of reports.

It gives consumers the right to know when a report is being made about their credit history.

There are two types of reports: consumer report and investigative consumer report.

The focus of the law is privacy.

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Question 2 of 8

2. Question

What is the main difference between a consumer report and an investigative consumer report?

An investigative consumer report is a consumer report in which information is obtained through personal interviews.

Consumer reports are regulated by the state insurance department and investigative consumer reports are regulated by the federal government.

Consumer reports are not used by insurance companies, but investigative consumer reports are used by insurance companies.

Information on an investigative consumer report can only be gathered by the FBI or CIA.

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Question 3 of 8

3. Question

Federal law prevents individuals convicted of certain offenses from engaging in the business of insurance without the written consent of an insurance regulatory official. This written consent is known as what?

A 1033 Waiver

A CAN-SPAM Act

A certificate of authority

A report of actions

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Question 4 of 8

4. Question

What is the focus of the Gramm-Leach-Bliley Act?

Privacy

Credit reporting

Fraud and false statements

Investigative reports

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Question 5 of 8

5. Question

Who is able to review and approve a request for a 1033 Waiver?

The National Association of Insurance Commissioners (NAIC)

The Internal Revenue Service (IRS)

The Arizona Department of Insurance

The Arizona Attorney General

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Question 6 of 8

6. Question

What is the name of the list of phone numbers of consumers who have indicated their preference to limit the telemarketing calls they receive?

The National Do Not Call Registry

The National Do Not Solicit List

The 1033 Waiver List

The Gramm Leach Bliley Act Schedule

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Question 7 of 8

7. Question

An organization is not required to comply with the National Do Not Call Registry law if it is a nonprofit organization or only makes phone calls that fall within any of these categories EXCEPT which one?

Calls to consumers who have an established business relationship

Solicitations for charitable contributions

Surveys or political polls

Calls by telemarketers who solicit consumers

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Question 8 of 8

8. Question

What is the purpose of CAN-SPAM?

It establishes the state standards for the sending of commercial e-mail.

It establishes the federal standards for the sending of commercial e-mail.

It prohibits telemarketers from calling consumers that do not want to be called.

It prohibits insurance companies from gathering any written, oral, or other communication of any information by a consumer reporting agency bearing on a consumer’s credit worthiness, credit standing, credit capacity, character, general reputation, personal characteristics, or mode of living.

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