How frequently must telemarketers update their copy of the National Do-Not-Call Registry to remain compliant?
Correct Answer
B) Every 31 days
Under the TSR, telemarketers must update their copy of the National Do-Not-Call Registry at least every 31 days to ensure they are not calling numbers that have been recently added to the registry.
Why This Is the Correct Answer
Under the TSR, telemarketers must update their copy of the National Do-Not-Call Registry at least every 31 days to ensure they are not calling numbers that have been recently added to the registry.
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A mortgage company implements a policy where loan officers receive higher commissions for steering borrowers away from lower-cost government loan programs toward higher-cost conventional loans, even when borrowers qualify for the government programs. The company argues this is acceptable because they still offer government programs. Under UDAAP principles, this compensation structure:
Next Question
During the application process, an MLO tells a borrower that their interest rate is 'locked and guaranteed' for 60 days, but the actual rate lock agreement contains standard market volatility exceptions that could allow rate increases. The borrower doesn't read the rate lock document carefully. This situation represents: