2014 Jcc Forward Thinking Module Review II
- 1.
What does FDCPA stand for?
- A.
The Fair Debtor and Creditor Practices Act
- B.
The Fair Debt Collection Practices Act
- C.
The First Debt Collectors Procedures Act
- D.
The Federal Debt Collectors Procedure Act
Correct Answer
B. The Fair Debt Collection Practices ActExplanation
The correct answer is The Fair Debt Collection Practices Act. The Fair Debt Collection Practices Act (FDCPA) is a federal law that regulates the behavior of debt collectors who are attempting to collect debts on behalf of others. It sets forth rules and guidelines for how debt collectors can communicate with debtors, what actions they can take to collect debts, and what practices are considered unfair or deceptive. The FDCPA aims to protect consumers from abusive or harassing debt collection practices and provides remedies for individuals who have been subjected to such practices.Rate this question:
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- 2.
What does CFPB stand for?
- A.
Consumer Financial Protection Bureau
- B.
Consumer Finance Processing Bureau
- C.
Customer Fraud Protection Bureau
- D.
Collection Fraud Processing Bureau
Correct Answer
A. Consumer Financial Protection BureauExplanation
The correct answer is Consumer Financial Protection Bureau. The CFPB is a government agency that aims to protect consumers in the financial marketplace. It regulates and enforces laws related to consumer finance, such as mortgages, credit cards, and student loans. The agency works to ensure that consumers are treated fairly by financial institutions and have access to transparent and competitive financial products and services.Rate this question:
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- 3.
FCRA Stands for:
- A.
Fair Contact Recording Act
- B.
Federal Credit Responsiblity Act
- C.
Fair Credit Reporting Act
- D.
Federal Collector Review Act
Correct Answer
C. Fair Credit Reporting ActExplanation
The correct answer is Fair Credit Reporting Act. This act is a federal law that regulates the collection, dissemination, and use of consumer credit information. It promotes accuracy, fairness, and privacy of information in credit reporting. The act outlines the rights of consumers to access their credit reports, dispute inaccurate information, and receive notifications about adverse actions taken based on their credit reports. It also imposes obligations on credit reporting agencies and entities that furnish information to them.Rate this question:
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- 4.
It is OK to have cell phones in the building as long as they are only used in the breakroom.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
Having cell phones in the building is acceptable as long as they are used exclusively in the breakroom. This implies that the use of cell phones in other areas of the building is not allowed. Therefore, the statement "It is OK to have cell phones in the building as long as they are only used in the breakroom" is true.Rate this question:
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- 5.
The following message is OK to use when calling a client provided number and leaving a message on the telephone answering machine. "This is (collectors first and last name) from JC Christensen & Associates I am a debt collector, please call me back at 1-800-XXX-XXXX."
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
The given message is appropriate to use when calling a client provided number and leaving a message on a telephone answering machine because it includes the necessary information such as the caller's name, the company they are calling from, and the purpose of the call. It also provides a contact number for the client to call back.Rate this question:
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- 6.
Which of the following is the Mini-Miranda?
- A.
This is attempt to collect a debt
- B.
I am a debt collector, and you have the right to speak with me or not speak with me
- C.
I want to advise you this call may be recorded
- D.
This communication is from a debt collector. The purpose of the call is to collect a debt any information obtained will be used for that purpose
Correct Answer
D. This communication is from a debt collector. The purpose of the call is to collect a debt any information obtained will be used for that purposeExplanation
The Mini-Miranda is the statement that a debt collector is required to provide at the beginning of a communication with a debtor. It informs the debtor that the communication is from a debt collector, the purpose of the call is to collect a debt, and any information obtained will be used for that purpose. This statement is required by the Fair Debt Collection Practices Act (FDCPA) to ensure that debtors are aware of their rights and the purpose of the communication.Rate this question:
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- 7.
According to the FDCPA, who can I discuss the debt with?
- A.
The Consumer
- B.
The Consumers Spouse
- C.
The Consumers Attorney
- D.
All of the above
Correct Answer
D. All of the aboveExplanation
According to the FDCPA (Fair Debt Collection Practices Act), the consumer has the right to discuss the debt with the debt collector. Additionally, they can also involve their spouse or attorney in the discussion. Therefore, all of the options provided (the consumer, the consumer's spouse, and the consumer's attorney) are correct.Rate this question:
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- 8.
An individual debt collector can be personally sued under the FDCPA.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
The Fair Debt Collection Practices Act (FDCPA) is a federal law that regulates the behavior of debt collectors. It provides protections for consumers against abusive and unfair debt collection practices. One of the provisions of the FDCPA is that an individual debt collector can be personally sued for violations of the law. This means that if a debt collector engages in practices that are prohibited by the FDCPA, such as harassment or making false statements, they can be held personally liable for their actions. Therefore, the statement that an individual debt collector can be personally sued under the FDCPA is true.Rate this question:
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- 9.
What does UDAAP stand for?
- A.
Unfit, Deceptive, or Abusive Acts of Privacy
- B.
Unfair, Determined, Angery Acts and Practices
- C.
Understanding, Deception and Abusive Acts or Practices
- D.
Unfair, Deceptive or Abusive Acts or Practices
Correct Answer
D. Unfair, Deceptive or Abusive Acts or PracticesExplanation
UDAAP stands for Unfair, Deceptive or Abusive Acts or Practices. This acronym is commonly used in the field of consumer protection and refers to actions or practices by financial institutions that are considered unfair, deceptive, or abusive towards consumers. These actions can include misleading advertising, hidden fees, or predatory lending practices. The UDAAP framework is used to identify and prevent such practices in order to protect consumers from unfair treatment in the financial marketplace.Rate this question:
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- 10.
Hindering a consumers ability to make an informed decision by omitting important information could be a UDAAP violation.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
Hindering a consumer's ability to make an informed decision by omitting important information is a violation of the Unfair, Deceptive, or Abusive Acts or Practices (UDAAP) regulations. UDAAP violations occur when companies engage in practices that are unfair, deceptive, or abusive towards consumers. By withholding important information, companies are not providing consumers with all the necessary information to make an informed choice, which is considered unfair and can lead to UDAAP violations. Therefore, the statement is true.Rate this question:
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- 11.
Which of the following has the highest risk as a UDAAP violation?
- A.
Offering a consumer a settlement
- B.
Guaranteeing a consumer their credit score will improve if they pay the bill
- C.
Setting the consumer up on a payment schedule
- D.
Calling the consumer
Correct Answer
B. Guaranteeing a consumer their credit score will improve if they pay the billExplanation
Guaranteeing a consumer their credit score will improve if they pay the bill has the highest risk as a UDAAP violation because it involves making a false or misleading statement to the consumer. UDAAP stands for Unfair, Deceptive, or Abusive Acts or Practices, and it is a violation of consumer protection laws. Making false promises about improving a consumer's credit score can be considered deceptive and misleading, potentially leading to financial harm for the consumer.Rate this question:
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- 12.
The Telephone Consumer Protection Act (TCPA):
- A.
Restricts the use of auto-dialers to place calls to any wireless number
- B.
Restricts calls made after 7pm in any time zone
- C.
Prohibits calling any phone number at any time
- D.
Does not apply to collection agencies
Correct Answer
A. Restricts the use of auto-dialers to place calls to any wireless numberExplanation
The correct answer is that the TCPA restricts the use of auto-dialers to place calls to any wireless number. This means that businesses and organizations are not allowed to use automated dialing systems to call wireless numbers without the recipient's consent. This provision aims to protect consumers from unwanted telemarketing calls and potential privacy violations.Rate this question:
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- 13.
What is NOT the definition of Ethics.
- A.
Principals of conduct governing an individual or a group.
- B.
Doing what you want, when you want.
- C.
A guiding philosophy
- D.
A consciousness of moral importance.
Correct Answer
B. Doing what you want, when you want.Explanation
The given answer "Doing what you want, when you want" is not the definition of Ethics because ethics refers to the principles of conduct that govern an individual or a group. It involves making decisions based on moral values and considering the impact of one's actions on others. Doing what you want, when you want, disregards any moral considerations or ethical guidelines, which is not the essence of ethics.Rate this question:
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- 14.
Which of the following is a potential cost of unethical behavior.
- A.
Excellent Client Satisfaction
- B.
Increased Risk of Lawsuits
- C.
Best possible arrangement
- D.
Save Time
Correct Answer
B. Increased Risk of LawsuitsExplanation
Engaging in unethical behavior can lead to an increased risk of lawsuits. When individuals or organizations act unethically, they may violate laws, regulations, or ethical standards, which can result in legal consequences. Lawsuits can be filed by affected parties, such as customers, employees, or competitors, seeking compensation or justice for the harm caused by the unethical behavior. These lawsuits can be costly in terms of legal fees, settlements, or damage to the organization's reputation. Therefore, increased risk of lawsuits is a potential cost that can arise from unethical behavior.Rate this question:
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- 15.
If a consumer is upset and wants to complain we should:
- A.
Tell them to contact the Attorney General
- B.
Try to resolve the complaint here
- C.
Tell them to contact the Better Business Bureau
- D.
Tell them they owe our client and have nothing to complain about
Correct Answer
B. Try to resolve the complaint hereExplanation
The correct answer suggests that when a consumer is upset and wants to complain, the appropriate action is to try to resolve the complaint at the current place or organization. This implies that the organization should take responsibility for addressing the consumer's concerns and finding a solution to their complaint rather than redirecting them to external entities like the Attorney General or Better Business Bureau. This approach prioritizes customer satisfaction and demonstrates a commitment to resolving issues directly.Rate this question:
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- 16.
Everything YOU do while performing your job is a reflection of our company and the collection industry.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
The statement implies that everything an individual does while performing their job reflects not only on themselves but also on the company and the collection industry as a whole. This suggests that the company places importance on the behavior and actions of its employees, as they are seen as representatives of the company and the industry. Therefore, the statement is true.Rate this question:
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- 17.
The TCPA Impacts which of the following:
- A.
Auto dialed calls to cellular phones
- B.
Pre-recorded messages to cellular and residental phones
- C.
Displayed numbers on caller ID's
- D.
All of the above
Correct Answer
D. All of the aboveExplanation
The TCPA (Telephone Consumer Protection Act) impacts all of the mentioned options. It regulates auto-dialed calls to cellular phones, pre-recorded messages to both cellular and residential phones, and the display of numbers on caller IDs. The TCPA aims to protect consumers from unwanted and intrusive telemarketing practices, ensuring their privacy and preventing unsolicited communications.Rate this question:
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- 18.
Cellular phone numbers can be dialed manually.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
Cellular phone numbers can be dialed manually by entering the digits on the phone's keypad. This allows users to directly input the desired phone number and initiate a call without relying on any automated system or voice recognition technology.Rate this question:
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- 19.
What statement below is correct:
- A.
You can call a cellular phone using an autodialer if the consumer has given prior expressed consent.
- B.
You can call a celluar phone using an autodialer if the creditor gained consent in the origional contract and/or agreement.
- C.
You can manually dial a cellular phone number
- D.
All of the above statements are correct
Correct Answer
D. All of the above statements are correctExplanation
The explanation for the given correct answer is that all of the above statements are correct. The first statement states that you can call a cellular phone using an autodialer if the consumer has given prior expressed consent. This means that if the consumer has explicitly agreed to receive calls from an autodialer, it is permissible to use this method to contact them. The second statement states that you can call a cellular phone using an autodialer if the creditor gained consent in the original contract and/or agreement. This means that if the consumer has agreed to receive calls from an autodialer as part of their contract or agreement with the creditor, it is allowed. The third statement simply states that you can manually dial a cellular phone number, which is a universally accepted method of making calls. Therefore, all of these statements are correct.Rate this question:
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- 20.
Our calling stratagy is dependant on cellular phone numbers being properly flagged / identified in our collection system.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
The statement suggests that the calling strategy relies on the proper identification of cellular phone numbers in their collection system. This means that the strategy is designed to target or prioritize calls to individuals with cellular phones. Therefore, the statement is true.Rate this question:
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- 21.
If you contact a neighbor of the consumer the primary reason of the contact should be to:
- A.
Ask the neighbor if he can help the consumer pay the debt
- B.
Ask the neighbor for the home address, home phone or the place of employment
- C.
Leave a message with the neighbor
- D.
Ask the neighbor to help you collect the debt
Correct Answer
B. Ask the neighbor for the home address, home pHone or the place of employmentExplanation
The primary reason for contacting a neighbor of the consumer is to obtain information about the consumer's home address, home phone number, or place of employment. This information is important for locating the consumer and establishing communication with them regarding the debt. Asking the neighbor for help in paying the debt or collecting the debt may not be appropriate or effective in this situation. Leaving a message with the neighbor could be considered as a secondary action, but the main purpose is to gather the necessary contact details.Rate this question:
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- 22.
A collector may call the consumers place of employment even if the consumer states they cannot receive calls at work as long as there has been no contact at the home phone number within the past 30 days.
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
A collector cannot call the consumer's place of employment if the consumer states they cannot receive calls at work, regardless of contact at the home phone number within the past 30 days.Rate this question:
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- 23.
What regulatory agency oversees the FDCPA?
- A.
Better Business Bureau (BBB)
- B.
Attorney General (AG)
- C.
American Collector Association (ACA)
- D.
Consumer Financial Protection Bureau (CFPB)
Correct Answer
D. Consumer Financial Protection Bureau (CFPB)Explanation
The correct answer is the Consumer Financial Protection Bureau (CFPB). The CFPB is a regulatory agency that oversees the Fair Debt Collection Practices Act (FDCPA), which is a federal law that protects consumers from unfair or abusive debt collection practices. The CFPB enforces the FDCPA and works to ensure that debt collectors are following the law and treating consumers fairly. The other options listed, such as the Better Business Bureau, Attorney General, and American Collector Association, are not specifically responsible for overseeing the FDCPA.Rate this question:
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- 24.
Which of the following would be a permissible purpose to pull a consumers credit report?
- A.
You know them and want to see who they owe money to
- B.
The client asks you to pull it and give them the information
- C.
You are attempting to collect on the account
- D.
Never
Correct Answer
C. You are attempting to collect on the accountExplanation
The correct answer is "You are attempting to collect on the account." Pulling a consumer's credit report is permissible if you are trying to collect on their account. This is because it helps you assess their financial situation and determine the best course of action for collecting the debt.Rate this question:
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- 25.
You have items on your desk that contain personal information about consumers, what should you do when you leave your desk?
- A.
Flip items over or put in your drawer before you leave
- B.
Shred everything and start over tomorrow
- C.
Give it to your co-workers to watch while you are gone
- D.
Leave it out
Correct Answer
A. Flip items over or put in your drawer before you leaveExplanation
When you leave your desk, it is important to protect the personal information of consumers. By flipping items over or putting them in your drawer, you ensure that the personal information is not visible or accessible to anyone who may pass by your desk. This helps to maintain confidentiality and prevent any potential misuse or unauthorized access to the personal information.Rate this question:
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- 26.
You commit to the following: I will do my part to protect confidential information. I know it is my responsiblity to report potential security concerns. I understand I am subject to disciplinary action if I am involved in a potential security breach. I understand the importance of Privacy & Security
- A.
I DO
- B.
I DO NOT
Correct Answer
A. I DOExplanation
The given answer "I DO" indicates that the person agrees and commits to the statements mentioned in the question. They understand the importance of protecting confidential information, reporting potential security concerns, and the consequences of being involved in a security breach. This answer shows that the person acknowledges the significance of privacy and security.Rate this question:
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- 27.
I understand it is my responsiblity to read and understand all of JCC's Rules & Regulations regarding debt collections.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
The given statement suggests that the individual acknowledges and accepts the responsibility of reading and understanding all of JCC's Rules & Regulations regarding debt collections. Therefore, the correct answer is True.Rate this question:
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- 28.
I agree to comply with JCC's Rules and Regulations during my employment at JCC.
- A.
I agree
- B.
I disagree
Correct Answer
A. I agreeExplanation
The given statement suggests that the person is willing to follow and abide by the rules and regulations set by JCC during their employment. This indicates their commitment towards maintaining discipline and adhering to the policies and guidelines of the organization.Rate this question:
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- 29.
I understand it is my responsibility to know the FDCPA and abide by the Laws that govern the collection industry.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
The statement suggests that the individual acknowledges their obligation to be familiar with the Fair Debt Collection Practices Act (FDCPA) and follow the regulations that govern the collection industry. This implies that they are aware of the legal requirements and are committed to complying with them. Therefore, the correct answer is "True."Rate this question:
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- 30.
If a practice is harmful to a consumer; it could be a UDAAP violation.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
If a practice is harmful to a consumer, it could be considered a UDAAP (Unfair, Deceptive, or Abusive Acts or Practices) violation. UDAAP is a term used in consumer protection law to refer to any actions or practices by financial institutions that are considered unfair, deceptive, or abusive towards consumers. Therefore, if a practice is harmful to a consumer, it falls under the category of UDAAP violation.Rate this question:
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- 31.
What is important to UDAAP compliance?
- A.
Clear communications
- B.
Clear Disclosures
- C.
The Monitoring & Review of Complaints
- D.
All of the above
Correct Answer
D. All of the aboveExplanation
All of the above options are important for UDAAP (Unfair, Deceptive, or Abusive Acts or Practices) compliance. Clear communications are necessary to ensure that consumers understand the terms and conditions of a product or service. Clear disclosures are crucial to provide transparent information about fees, interest rates, and any potential risks. The monitoring and review of complaints help identify any potential UDAAP violations and take appropriate actions to address them. Therefore, all three options are essential for UDAAP compliance.Rate this question:
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- 32.
If you say it; you need to make sure it is true.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
The given correct answer is "True". This means that the statement "If you say it; you need to make sure it is true" is true. It implies that when you say something, you should ensure that it is factual and accurate. This emphasizes the importance of honesty and integrity in communication, as spreading false information can lead to misunderstandings and can damage trust between individuals.Rate this question:
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- 33.
If a consumer asks "If I pay this, will it improve my credit score?" your answer should be:
- A.
Yes
- B.
No
- C.
I can't answer that.
- D.
None of the Above
Correct Answer
C. I can't answer that.Explanation
The correct answer is "I can't answer that." This response indicates that the person is unable to provide a definitive answer to the question of whether paying will improve the consumer's credit score. It suggests that there may be factors or variables involved that make it difficult to determine the direct impact on the credit score.Rate this question:
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- 34.
I can discuss the details of the wife's credit report with the husband.
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
The wife's credit report is confidential information that should not be shared with anyone without her explicit consent. As a result, discussing the details of her credit report with her husband would violate her privacy rights. Therefore, the statement is false.Rate this question:
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- 35.
If a third party asks if you are calling about a debt, it is OK to tell them Yes.
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
It is not okay to tell a third party that you are calling about a debt. This is because discussing personal financial matters with someone other than the debtor or the debtor's attorney is a violation of the Fair Debt Collection Practices Act (FDCPA). The FDCPA prohibits debt collectors from disclosing information about a consumer's debt to anyone other than the debtor, their attorney, a credit reporting agency, or the creditor themselves. Therefore, it is important to only discuss debt-related matters with the debtor or their authorized representatives.Rate this question:
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- 36.
A debt collector's responsiblities when talking to someone that states we are reaching the wrong number and they do not know the person we are attempting to contact are:
- A.
None of the above
- B.
Keep the account in active collections so it receives calls at a later date
- C.
Disposition the number as bad
- D.
Call one more time to try and gather additional information
Correct Answer
C. Disposition the number as badExplanation
When a debt collector talks to someone who claims that they have reached the wrong number and they don't know the person being contacted, the appropriate action is to disposition the number as bad. This means that the collector acknowledges that the number is not associated with the intended debtor and marks it as an invalid or incorrect contact. This helps to prevent further calls to the wrong person and ensures that the collector focuses on more accurate and relevant contacts in their collection efforts.Rate this question:
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- 37.
In the event of a consumer hang up, company policy states we will not attempt to contact the consumer for a period of not less than:
- A.
5 days
- B.
7 days
- C.
10 days
- D.
2 days
Correct Answer
B. 7 daysExplanation
According to company policy, if a consumer hangs up, the company will not try to contact them for a specific period of time. The correct answer is 7 days, which means that the company will wait for a week before attempting to contact the consumer again. This policy allows the consumer some time to reconsider and possibly reach out to the company if needed, without feeling overwhelmed by immediate follow-up.Rate this question:
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- 38.
While Skiptracing you contact the consumers mother, they state they do not have a phone number for the consumer, but they offer to leave a message for the consumer, it is OK to leave a message with the mother?
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
It is okay to leave a message with the mother during skip tracing because she is a close relative and likely to have contact with the consumer. While the mother may not have the consumer's phone number, leaving a message with her can increase the chances of the consumer receiving it.Rate this question:
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- 39.
It is OK to disclose the name of our company if the person on the phone ASKS us where we are calling from prior to verification.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
The given statement suggests that it is acceptable to disclose the name of the company if the person on the phone specifically asks where the call is coming from before any verification process takes place. This implies that in such a scenario, it is permissible to provide this information.Rate this question:
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- 40.
Proper Identification and required disclosures must be done on:
- A.
Only first contacts
- B.
All inbound and outbound contacts
- C.
Only inbound contacts
- D.
Only outbound contacts
Correct Answer
B. All inbound and outbound contactsExplanation
Proper identification and required disclosures must be done on all inbound and outbound contacts. This means that whenever a contact is made, whether it is initiated by the company or by the customer, it is necessary to properly identify oneself and provide any necessary disclosures. This ensures transparency and compliance with regulations, as well as helps to establish trust and clarity in communication between the company and its customers.Rate this question:
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- 41.
A complaint is defined as allegations of misconduct, violations of the law, unfair, deceptive or abusive practices by anyone in relation to the handling of an account.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
The statement is true because a complaint is indeed defined as allegations of misconduct, violations of the law, unfair, deceptive, or abusive practices in relation to the handling of an account. This definition encompasses a wide range of possible complaints that can be made against individuals or organizations involved in account management.Rate this question:
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- 42.
If a consumer states the last collector she spoke with was extremely rude and wants to complain, I should:
- A.
Explain if she paid her bill she would not get collection calls
- B.
Tell the consumer " I will escalate this to my manager for review"
- C.
Hang up on the consumer
- D.
None of the above
Correct Answer
B. Tell the consumer " I will escalate this to my manager for review"Explanation
The correct answer is to tell the consumer "I will escalate this to my manager for review". This response shows empathy towards the consumer's complaint and indicates that their concern will be taken seriously. It also suggests that appropriate action will be taken to address the issue and prevent such behavior in the future. Hanging up on the consumer or not providing any response would be unprofessional and not helpful in resolving the complaint. Explaining about bill payment may not be relevant to the consumer's complaint about rudeness.Rate this question:
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- 43.
A dispute is defined as:
- A.
An excuse used to get out of paying a debt
- B.
Question or disagree with the validity, accuracy or representation regarding an account
- C.
Accusations of misconduct by an employee
- D.
None of the above
Correct Answer
B. Question or disagree with the validity, accuracy or representation regarding an accountExplanation
The correct answer is "Question or disagree with the validity, accuracy or representation regarding an account". This option accurately defines a dispute as a situation where someone raises concerns or doubts about the correctness or truthfulness of information or claims related to an account. It implies a disagreement or challenge to the accuracy or validity of the account's representation. The other options do not fully capture the essence of a dispute.Rate this question:
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- 44.
Personal feelings about a consumer should not be included in your account documentation.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
Including personal feelings about a consumer in account documentation can lead to biased and subjective information. It is important to maintain objectivity and professionalism when documenting consumer accounts to ensure fairness and accuracy. Personal feelings can cloud judgment and may result in inaccurate or unfair treatment of the consumer. Therefore, it is best to exclude personal feelings from account documentation.Rate this question:
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- 45.
What of the following SHOULD be included in your account documentation?
- A.
Options offered
- B.
Summary of repayment arrangement
- C.
Permission to call back
- D.
All of the above
Correct Answer
D. All of the aboveExplanation
All of the above should be included in your account documentation. It is important to have a summary of the repayment arrangement to clearly outline the terms and conditions of the loan or credit. Permission to call back is necessary to ensure that the lender or creditor can contact you for any necessary communication regarding your account. Including all of these details in your account documentation helps to ensure clarity and avoid any misunderstandings or disputes in the future.Rate this question:
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- 46.
If a consumer swears at you, it is ok to document what they said as long as you quote them exactly
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
It is not okay to document what a consumer said if they swear at you, even if you quote them exactly. Swearing is considered inappropriate and unprofessional behavior, and documenting it may not be necessary or productive. It is important to maintain a respectful and professional attitude when dealing with customers, regardless of their behavior.Rate this question:
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- 47.
If a third party is upset you are calling the wrong number, you should:
- A.
Apologize for the inconvenience and explain you will remove the number
- B.
Tell them it is not your fault
- C.
Hang up the phone
- D.
Tell them to change thier number
Correct Answer
A. Apologize for the inconvenience and explain you will remove the numberExplanation
If a third party is upset because you are calling the wrong number, apologizing for the inconvenience and explaining that you will remove the number is the appropriate response. This shows empathy and takes responsibility for the mistake, offering a solution to prevent further inconvenience. It acknowledges the upset party's feelings and demonstrates a willingness to rectify the situation.Rate this question:
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- 48.
If we receive a written request for verification we should:
- A.
Keep Calling the consumer
- B.
Throw the request away and pretend we never received it
- C.
Cease Collections until verification is obtained and sent to the consumer.
- D.
Tell the consumer they know what they owe, there is no need to verify anything.
Correct Answer
C. Cease Collections until verification is obtained and sent to the consumer.Explanation
The correct answer is to cease collections until verification is obtained and sent to the consumer. This is the appropriate action to take when a written request for verification is received. It is important to pause collections until the requested verification is provided to ensure that the consumer's rights are protected and that accurate information is being used for collection purposes.Rate this question:
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- 49.
Consumers today are:
- A.
Richer
- B.
Softer Spoken
- C.
More Savvy and tend to understand the laws
- D.
More trusting
Correct Answer
C. More Savvy and tend to understand the lawsExplanation
Consumers today are described as "More Savvy and tend to understand the laws." This means that they are more knowledgeable and informed about their rights and legal protections as consumers. They are likely to be well-informed about consumer laws and regulations, which empowers them to make informed decisions and hold businesses accountable for any violations. This increased understanding of the laws helps consumers navigate the marketplace more effectively and protect their interests.Rate this question:
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- 50.
It is important to treat people with:
- A.
Kid Gloves
- B.
Compliments and Laughter
- C.
Dignity and Respect
- D.
Sarcasm and rudness
Correct Answer
C. Dignity and RespectExplanation
Treating people with dignity and respect is important because it promotes a positive and inclusive environment. It helps to create mutual understanding, trust, and appreciation among individuals. By treating others with dignity and respect, we acknowledge their worth and value as human beings. This fosters healthy relationships, effective communication, and cooperation. It also contributes to personal growth and development, as well as the overall well-being of individuals and communities.Rate this question:
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Current Version
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Mar 20, 2023Quiz Edited by
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Jun 17, 2014Quiz Created by
Becky Pelkey
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