Certified CFPB 1033 Professional – Examination

1. Which of the following is NOT part of the security CIA Triad?

1. ____________ is the right to control who gets to see your personal information like credit card numbers and account balances.

1. ______________________ protects information from unauthorized access, use, and disclosure. It also protects it from disruption, modification, or destruction.

1. Which data privacy principle deals with the notion that personal data should not be disclosed, made available or otherwise used for purposes other than those specified except with the consent of the data subject or by authority of the law?

1. Which data privacy principle deals with collecting only the amount of data required for the specified purpose?

1. Which data privacy principle deals with the notion that personal data should not be disclosed, made available or otherwise used for purposes other than those specified except with the consent of the data subject or by authority of the law?

7. Which data privacy principle deals with Personal data should be relevant to the purposes for which they are to be used, and, to the extent necessary for those purposes, should be accurate, complete, and kept up to date?

1. Which data privacy principle deals with the purposes for which personal data are collected should be specified not later than at the time of data collection and the subsequent use limited to the fulfilment of those purposes or such others as are not compatible with those purposes.

1. T/F. Privacy principles suggest that the consumer owns their data?

1. T/F. Privacy principles suggest that the consumer can dictate what happens with their data?

11. T/F. Privacy principles suggest that the consumers cannot deny a third party from selling their data.

1. A ________________ is a problematic action that can result in a loss of privacy and adverse consequences for a person?

1. Which privacy harm group deals with privacy impacts on accountholders when their data is being gathered in a loan application?

1. The surveillance harm falls into which group of data privacy harms?

1. Distortion harm falls into which group of data privacy harms?

1. Watching, listening to, or recording of an accountholder’s activity could lead to which data privacy harm?

1. Asking excessively personal questions can make a loan applicant uncomfortable and lead to which data privacy harm?

18. T/F. The Information Privacy Officer is the only person with data privacy responsibilities at your financial institution.

18. Which department at a financial institution is responsible for ensuring cookies are used responsibly and in accordance with this regulation?

18. The ______________ is responsible for the Information Privacy Program at the financial institution.

18. Which is a role of the Information Privacy Officer?

22. Which of the following is a good definition of Open Banking?

22. T/F. The United States is the world leader in Open Banking.

22. A global banking approach like Open Banking requires:

22. Open Banking allows authorized third parties to connect to the financial institution through:

22. T/F. Fintechs do not need to comply with the Gramm-Leach-Bliley Act because they are working with financial institutions that do comply.

27. ________________ is a US government agency that protects consumers from unfair treatment by financial institutions.

27. The CFPB services which industry?

27. When was the final rule for CFPB 1033 published?

27. How many months of consumer data retention are required by CFPB 1033?

31. The CFPB was created under the ____________________ as an independent agency of the United States federal government.

27. The CFPB requires:

34. Which type of accounts are covered under CFPB 1033?

34. Any person that controls or possesses information concerning a covered consumer financial product or service that the consumer obtained from that person is called a ____________.

34. Which of the following is true?

34. A third party which has satisfied due diligence requirements and is entitled to access covered data on behalf of a consumer is called a ______________.

34. The ______________ is the mechanism through which a data provider receives requests for covered data and makes available covered data in an electronic form usable by consumers in response to the requests.

34. ______________ is the term to mean an entity that is retained by and provides services to the authorized third party to enable access to covered data.

34. ___________________ is the mechanism through which a data provider receives requests for covered data and makes available covered data in an electronic form usable by authorized third parties in response to the requests.

41. With regard to covered data, a data provider must make available ______________ that it has in its control or possession at the time of a request.

42. Which of the following is true?

42. Which of the following is true to fees data providers can charge when fulfilling a consumer data request?

42. Both the Consumer and Developer interface are required by regulation to be available at what percentage of uptime.

42. How many times can a consumer request a copy of their data per year?

46. ________________ specifies format and content requirements for the authorization disclosure that third parties would provide to consumers in order to be authorized to access covered data on behalf of the consumer.

46. Which of the following should not be allowed by an authorized third party?

48. Which geography has been at data privacy protection the longest?

48. Which statement is the most likely regarding CFPB 1033 implementation and compliance?

48. What is the implementation requirement for compliance for a $2 billion dollar bank?