035: Quiz – FTC Red Flag Rules

1. The FTC Red Flags Rule applies if a business screens credit reports of potential employees to assess their level of honesty?

Deferred payment for goods or services, payment of debt, or the purchase of property or services alone constitutes “advancing funds” under the Rule?

According to the Red Flags Rule, lending money to customers to purchase cars is considered “advancing funds”?

The FTC Red Flags Rule does not apply to which of the following types of business:

My business does not have any Covered Accounts. Do I still need a Red Flags Rule program?

Identity Theft is a problem for:

My business accepts credit cards for payments. Are we covered by the Red Flags Rule on this basis alone?

If a business keeps clear notes when it suspects a customer has done wrong, that act will satisfy the Red Flags Rule program requirements?