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Questions and Answers
What is the primary goal of the Fair Credit Reporting Act (FCRA)?
What is the primary goal of the Fair Credit Reporting Act (FCRA)?
- To provide access to credit reports and dispute inaccuracies (correct)
- To prohibit discrimination based on gender, race, and marital status
- To regulate credit advocacy organizations
- To ensure fair treatment by debt collectors
Which legislation protects consumers from abusive practices by debt collectors?
Which legislation protects consumers from abusive practices by debt collectors?
- Credit Repair Organizations Act (CROA)
- Fair Debt Collection Practices Act (FDCPA) (correct)
- Fair Credit Reporting Act (FCRA)
- Equal Credit Opportunity Act (ECOA)
What is the main focus of the Equal Credit Opportunity Act (ECOA)?
What is the main focus of the Equal Credit Opportunity Act (ECOA)?
- To regulate credit advocacy organizations
- To provide access to credit reports
- To protect consumers from debt collectors
- To ensure fair access to credit opportunities (correct)
What is the Credit Repair Organizations Act (CROA) primarily concerned with?
What is the Credit Repair Organizations Act (CROA) primarily concerned with?
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What is the significance of understanding consumer rights in the credit system?
What is the significance of understanding consumer rights in the credit system?
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What is the primary goal of this certification program?
What is the primary goal of this certification program?
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What is the focus of Module 1 of the certification program?
What is the focus of Module 1 of the certification program?
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What is the significance of credit advocacy services?
What is the significance of credit advocacy services?
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What is the next step in the certification program after Module 1?
What is the next step in the certification program after Module 1?
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What is the ultimate goal of understanding consumer rights and the credit system?
What is the ultimate goal of understanding consumer rights and the credit system?
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