Quiz for B2B: Everything You Need to Know About E-SIGN

1. The E-SIGN Act applies to all documents sent electronically:

2. You work for a bank that is updating its online banking hardware and software requirements. In the context of E-SIGN, what must you do to continue sending required disclosures electronically through online banking?

3. The E-SIGN Act contains no formal record retention requirement but what is considered best practice? Banks should retain records related to E-SIGN consent for:

4. If a customer revokes their E-SIGN consent a bank has to implement their revocation and convert to sending paper records within a “reasonable time.” The phrase “reasonable time” is not defined in the Act but what would be considered best practice?

5. E-Sign consent must be in place prior to accepting any electronic signature:

6. There are two parts to acquiring E-SIGN consent. Those two parts are referred to as “affirmative consent” and “demonstrative consent”:

7. Before sending a customer a mortgage advertisement electronically E-SIGN consent must be in place first:

8. Which of the following does not require E-SIGN consent prior to sending to a customer electronically?

9. You have a customer notify you they are revoking their E-SIGN consent. They have a mortgage statement due to be sent next week. Does the E-SIGN act require that this statement be sent in paper format?

10. Before sending any required disclosure to ABC, Inc. the bank must have E-SIGN consent in place first: