B2B: Red Flags And ID Theft Prevention

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Question 1 of 10

1. Question
1. Which of the following is not a required element of the ID Theft Program?
A. Identify relevant Red Flags for covered accounts and incorporate those Red Flags into the Program
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B. Detect Red Flags that have been incorporated into the Program
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C. Respond appropriately to any Red Flags that are detected to prevent and mitigate identity theft
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D. Provide the customer with required disclosures regarding identity theft risks
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Question 2 of 10

2. Question
1. True or False: Prepaid and gift cards are included in the card issuer requirement of address verification when a replacement card is requested shortly after a change in address.
A. True
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B. False
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Question 3 of 10

3. Question
1. True or False: Identity theft only applies to consumer accounts.
A. True
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B. False
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Question 4 of 10

4. Question
1. True or False: An established Customer Identification Program (CIP) can be used to form a reasonable belief that the user knows the identity of the person when there is a discrepancy identified by a consumer reporting agency
A. True
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B. False
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Question 5 of 10

5. Question
1. Which of the following is does not include requirements for Red Flags and ID Theft Program?
A. FACT Act Section 114
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B. TISA
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C. FACT Act Section 315
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D. Part 334 Subpart J
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Question 6 of 10

6. Question
1. Which of the following is an example of a covered account?
A. Checking Account
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B. Cell Phone Account
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C. Auto Loan
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D. All of the above
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Question 7 of 10

7. Question
1. Which of the following is considered identifying information?
A. Date of birth
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B. Fingerprint
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C. Name
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D. All of the above
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Question 8 of 10

8. Question
1. True or False: The creation of a fictitious identity, using a single piece of identifying information belonging to a real person, is included in the definition of “identity theft”.
A. True
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B. False
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Question 9 of 10

9. Question
1. Administration of the ID Theft Program, includes all of the following except _______.
A. Annual reporting to the board of directors
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B. Branch signage
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C. Training of staff
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D. Vendor oversight/management
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Question 10 of 10

10. Question
1. True or False: If the bank cannot clear a discrepancy between information on file and that provided by a consumer reporting agency cannot be cleared,the consumer report should not be used.
A. True
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B. False
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