Exam Questions and CORRECT Answers
GLBA - Correct Answer- Gramm-Leah-Bliley Act
FTC - Correct Answer- Federal Trade Commission
FCC - Correct Answer- Federal Communications Commission
NPI - Correct Answer- Non-public Personal Information
Consumer - Correct Answer- Individual who obtains financial services for personal use
Customer - Correct Answer- Continuing relationship with a financial institute
EBR - Correct Answer- Established Business Relationship
FACTA - Correct Answer- Fair Credit Reporting Act (Original FCRA)
FHA - Correct Answer- Fair Housing Act & Federal Housing Administration
ECOA - Correct Answer- Equal Credit Opportunity
HVCC - Correct Answer- Home Valuation Code of Conduct
HMDA - Correct Answer- Home Mortgage Disclosure Act
CRA - Correct Answer- Consumer Reporting Agency
FDIC - Correct Answer- Federal Deposit Insurance Corporation
, RESPA - Correct Answer- Real Estate Settlement Procedure Act
TILA - Correct Answer- Truth In Lending Act
FinCEN - Correct Answer- Financial Crime Enforcement Network
MDIA - Correct Answer- Mortgage Disclosure Improvement Act
DOJ - Correct Answer- Department of Justice
OIG - Correct Answer- Office of the Inspector General
SAR - Correct Answer- Suspicious Activity Report
GNMA - Correct Answer- Government National Mortgage Associates (Ginnie Mae)
LTV - Correct Answer- Loan to Value
FICO - Correct Answer- Fair Isaac Corporation
HECM - Correct Answer- Home Equity Conversion Mortgage (Reverse Mortgage)
Pre-Texting is what? - Correct Answer- Fraudulently obtaining personal information
FTC implements what? - Correct Answer- The DO NOT CALL registry
FCC Implements what? - Correct Answer- The DO NOT FAX registry
Safe Guard is Implement by what Act? - Correct Answer- GLBA