An MLO calls a consumer who immediately states 'Please put me on your do-not-call list.' What must the MLO do?
Correct Answer
D) End the call immediately and add the number to the company's internal do-not-call list
Under the TSR, when a consumer makes a do-not-call request during a telemarketing call, the telemarketer must end the call promptly and place the consumer's number on the company's internal do-not-call list within a reasonable time, not to exceed 30 days.
Why This Is the Correct Answer
Under the TSR, when a consumer makes a do-not-call request during a telemarketing call, the telemarketer must end the call promptly and place the consumer's number on the company's internal do-not-call list within a reasonable time, not to exceed 30 days.
More Ethics & Fraud Questions
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Previous Question
An employment verification form is returned showing the borrower earns $6,500 monthly, but the company's website lists this position's salary range as $35,000-$45,000 annually. The HR contact's phone number traces to a virtual phone service. What is the most significant red flag?
Next Question
A credit union's policy requires borrowers to have been employed at the same job for 24 months, with no exceptions. Statistical analysis shows this requirement excludes 40% of single mothers compared to 15% of married applicants. The credit union argues it reduces default risk. This scenario represents: