CIPT Study Set Questions with Correct Answers

CIPT Study Set Questions with Correct Answers AICPA definition of privacy - Answer-The rights and obligations of individuals and organizations with respect to the collection, use, retention, disclosure, and disposal of personal information IAPP definition of Privacy - Answer-The appropriate use of personal information under the circumstances. What is appropriate will depend on context, law, and the individuals expectations; also, the right of an individual to control the collection, use, and disclosure of personal information Data Protection - Answer-The management of personal information. In the United States, "privacy" is the term that is used in policies, laws and regulations, However, in the EU and other countries, this term often identifies privacy related laws and regulations. Processes in an organization where privacy is important - Answer-Human resource management, Finance and accounting, Procurement, Marketing, Sales, Customer Support, Technical support, retail operations, research and development, regulatory reporting. Common challenges with privacy - Answer-Lost or stolen media, over-sharing of personal information, good intentions but misused data, third party service provider weaknesses, regulatory isolations, website leakage, hackers, unwanted marketing communications, fraudulent transactions, social engineering If Privacy is compromised, what is the result - Answer-identity theft, brand and reputation damage, litigation, regulatory action, direct financial loss, loss of market value, loss of consumer and business partner confidence, becoming an example of what could go wrong