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Free CRCM Exam Braindumps (page: 115)

Page 115 of 344
PDF with 463 Questions

The Fair Credit Reporting Act (FCRA) became effective in 1971. The purpose of FCRA is to regulate:

  1. The consumer credit reporting and related industries to ensure that consumer information is reported in an accurate manner
  2. The consumer credit reporting and related industries to ensure that consumer information is reported in a timely manner
  3. The consumer credit reporting and related industries to ensure that consumer information is reported in an accurate, timely, and complete manner
  4. None of these

Answer(s): C



The Fair Credit Reporting Act (FCRA) became effective in 1971. The purpose of FCRA is to regulate:

  1. The consumer credit reporting and related industries to ensure that consumer information is reported in an accurate manner
  2. The consumer credit reporting and related industries to ensure that consumer information is reported in a timely manner
  3. The consumer credit reporting and related industries to ensure that consumer information is reported in an accurate, timely, and complete manner
  4. None of these

Answer(s): C



Any person in one of the following category can be debt collector:

  1. A person operating a business whose principal purpose is to collect debts
  2. A person who regularly collects or attempts to collect debts owed to another (this includes outside counsel who collects debts on behalf of the financial institution)
  3. A creditor who collects its own debts using a name other than its own, giving the impression that a third party is collecting it
  4. A creditor who collects its own debts because of his forefathers

Answer(s): A,B,C



Any person in one of the following category can be debt collector:

  1. A person operating a business whose principal purpose is to collect debts
  2. A person who regularly collects or attempts to collect debts owed to another (this includes outside counsel who collects debts on behalf of the financial institution)
  3. A creditor who collects its own debts using a name other than its own, giving the impression that a third party is collecting it
  4. A creditor who collects its own debts because of his forefathers

Answer(s): A,B,C



Page 115 of 344



Post your Comments and Discuss Banking CRCM exam with other Community members:

LeAnne Hair commented on August 24, 2023
#229 in incorrect - all the customers require an annual review
UNITED STATES
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LeAnne Hair commented on August 24, 2023
#229 in incorrect - all the customers require an annual review
UNITED STATES
upvote

LeAnne Hair commented on August 24, 2023
I think question 204 has an incorrect solution. It should be D-Regulation E
UNITED STATES
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Igor commented on April 10, 2020
Guys, leave no stones unturned. Try to study every questions and anything other supplementary material you have. The exam is not easy. I just wrote mine and if it wss not for these questions I would have not have passed it.
BULGARIA
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Lori commented on July 20, 2017
I had a good result. Worth the money.
UNITED STATES
upvote

Chipps commented on July 20, 2017
Studying from this dump helped me understand the concept and what comes in the exam. But I only get about 80 to 85% of the questions not 100% as it is claimed. Well... still good enough to pass.
UNITED STATES
upvote