Certified Apartment Manager (CAM) Practice Test

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Prepare for the Certified Apartment Manager exam with our comprehensive test. Featuring flashcards and multiple-choice questions, each crafted with hints and explanations to ensure you are thoroughly ready for your certification!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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Which act addresses consumer concerns about identity theft?

Fair Credit Reporting Act (FCRA)
Fair and Accurate Credit Transactions Act (FACTA)
Consumer Rights Protection Act
National Identity Security Act

The correct answer is: Fair and Accurate Credit Transactions Act (FACTA)

The Fair and Accurate Credit Transactions Act (FACTA) is specifically designed to address consumer concerns about identity theft. This act, which amends the Fair Credit Reporting Act, provides consumers with greater access to their credit information and includes provisions aimed at enhancing the accuracy of credit reports. One key aspect of FACTA is that it allows consumers to obtain free annual credit reports from the three major credit reporting agencies. This transparency helps consumers monitor their credit history for signs of identity theft. Additionally, FACTA establishes guidelines for the disposal of consumer information, mandates that financial institutions implement measures to prevent identity theft, and includes provisions for identity theft protection, such as fraud alerts and identity theft plans. These features collectively work to protect consumers from the risks and consequences of identity theft, making FACTA the relevant legislation in this context.