Answer the following questions about the FTC’s Debt Relief Services Rule. You must answer 8 out of 10 questions correctly to receive a passing grade.
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Question 1 of 10
1. Question
Which of the following types of calls is NOT covered by the Debt Relief Services Rule?
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Question 2 of 10
2. Question
Which of the following activities qualify as providing “substantial assistance” to a debt relief service provider? (select all that apply)
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Question 3 of 10
3. Question
The Debt Relief Services Rule is a subset of the FTC Mortgage Assistance Relief Services Rule.
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Question 4 of 10
4. Question
A material aspect of a debt relief service includes…
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Question 5 of 10
5. Question
If you tell customers that your service will reduce their debt by a certain percentage, you must have reasonable basis for making the claim.
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Question 6 of 10
6. Question
Under the Reasonable Consumer standard, the literal accuracy of the words you use are less important than the “_________________” your words convey in the mind of the consumer.
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Question 7 of 10
7. Question
Bill signed up with a debt settlement company owing $4,000 on his Mastercard and $1,000 on his Discover card. One year later, the company settled the Mastercard debt for $2,000. After Bill paid the settlement, the company charged him $400. The company then settled the Discover card debt for $500, and then charged Bill $200 for settling that debt after he paid the agreed upon amount. Were these fees compliant with the Rule?
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Question 8 of 10
8. Question
How long must a debt relief service provider keep creditor documents?
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Question 9 of 10
9. Question
Which of the following is NOT a material aspect of a debt relief service?
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Question 10 of 10
10. Question
If you make advertising claims based on prior customer experiences, the example you provide must be representative of the entire relevant population of your past customers.
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