Certification
Compliance Officer Certification
Role: Corporate Compliance Officer, General Manager, Dealer Principal
Content: Statutory and regulatory requirements pertaining to accounting, sales and F&I, including credit applications and decisioning, safeguards, adverse actions, deal auditing, in-dealership theft, ethics, sexual harassment and discrimination, as well as industry-adapted best practices for compliance concerns not specifically addressed by statute or regulation.
Role: Corporate Compliance Officer, General Manager, Dealer Principal Content: Statutory and regulatory requirements pertaining to accounting, sales and F&I, including credit applications and decisioning, safeguards, adverse actions, deal aud...
Course content
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Lesson ACE: Accounting Compliance Checklist (Part 1)
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Importance of the Checklist
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Checkpoint 1
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Components of the Checklist
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Checkpoint 2
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License and Insurance
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Checkpoint 3
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Credit Application
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Checkpoint 4
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F&I Menu
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Summary
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Lesson ACE: Accounting Compliance Checklist (Part 2)
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Buyer’s Order
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Checkpoint 1
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RISC, Form 8300, OFAC, and Customer Copies
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Checkpoint 2
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F&I Issues and State or Dealer Specific Forms
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Checkpoint 3
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Addressing Issues Identified with the Checklist
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Summary
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Lesson ACE: Adverse Actions (Part 1)
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When to Issue Adverse Action Notices
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Checkpoint 1
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Example Situations
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Checkpoint 2
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Model Notices
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Checkpoint 3
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Best Practices
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Summary
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Lesson ACE: Adverse Actions (Part 2)
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Required Content
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Checkpoint 1
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Required Disclosures
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Checkpoint 2
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Incomplete Applications & Document Retention
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Checkpoint 3
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Dealer Liability
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Summary
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Lesson ACE: Cash Reporting
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FinCen Form 8300, Cash, and Suspicious Transactions
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Checkpoint 1
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Related Transactions
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Checkpoint 2
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Responsibilities, Penalties, and Best Practices
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Summary
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Lesson ACE: Conditional Delivery
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Overview
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Checkpoint 1
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Customer Claims
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Checkpoint 2
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Unwinding Deals
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Summary
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Lesson ACE: Credit Applications (Part 1)
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Introduction to Credit Applications
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Checkpoint 1
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Gross and Net Income
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Checkpoint 2
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Questions About Income
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Checkpoint 3
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Signature Issues
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Checkpoint 4
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Customer Copy & Proof of Income
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Summary
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Lesson ACE: Credit Applications (Part 2)
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Additional Income
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Checkpoint 1
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Straw Purchases
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Checkpoint 2
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Fraudulently Altering Income
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Checkpoint 3
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Fake Proof of Income
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Summary
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Lesson ACE: Customer Signature
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Ink and Electronic Signatures
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Checkpoint 1
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Legal Overview
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Checkpoint 2
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Signature Issues
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Summary
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Lesson ACE: Equal Credit Opportunity Act
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Purpose of the Act
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Checkpoint 1
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Other Implications of the Act
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Checkpoint 2
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Applicant and Creditor Rights
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Checkpoint 3
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Applicant Notifications
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Summary
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Lesson ACE: Ethics
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The Golden Rule
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Checkpoint 1
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Your Character
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Checkpoint 2
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What's Our Purpose?
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Summary
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Lesson ACE: F&I Menus
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Compliant F&I Menus
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Checkpoint 1
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Elements of the F&I Menu
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Checkpoint 2
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Product Descriptions and Disclaimer
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Checkpoint 3
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Base Payment and Final Payment
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Checkpoint 4
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Altering Your Menu and Other Disclosures
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Summary
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Lesson ACE: Fair Credit Reporting Act
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Accuracy and Privacy in Consumer Reports
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Checkpoint 1
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Proper Use of Consumer Reports
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Checkpoint 2
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Denying Credit and Best Practices
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Summary
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Lesson ACE: FTC Disposal Rule
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Requirements of the Disposal Rule
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Checkpoint 1
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Shredding & Third Party Contractors
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Checkpoint 2
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What Information Should Be Destroyed?
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Checkpoint 3
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Cloud Storage & Potential Penalties
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Summary
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Lesson ACE: FTC Privacy Rule
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Requirements and Privacy Notices
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Checkpoint 1
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Consumers and Customers
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Checkpoint 2
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Best Practices
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Summary
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Lesson ACE: FTC Used Car Rule
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Overview
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Checkpoint 1
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The Used Car Buyers Guide
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Checkpoint 2
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Warranties
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Checkpoint 3
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Other Requirements and Penalties
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Summary
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Lesson ACE: Holder In Due Course Rule
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Required Language and Understanding the Rule
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Checkpoint 1
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Lawsuits and Consumer Benefits
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Summary
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Lesson ACE: Installment Sales Contracts
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Understanding Installment Sale Contracts
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Checkpoint 1
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Installment Sales & Loans
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Summary
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Lesson ACE: Magnuson-Moss Warranty Act
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Overview
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Checkpoint 1
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Rules and Requirements
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Checkpoint 2
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Tie-In Sales Provisions and Misleading Terms
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Checkpoint 3
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Dispute Resolution and State Laws
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Summary
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Lesson ACE: Menu Vocabulary
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F&I Menu Language
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Checkpoint 1
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Warranty Vs Service Contract
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Checkpoint 2
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"Mandatory Disclosures" and "Waivers"
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Checkpoint 3
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Loan or Lease-Specific Terminology
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Summary
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Lesson ACE: Negative Equity (Part 1)
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Netting
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Checkpoint 1
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Non-Netting
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Summary
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Lesson ACE: Negative Equity (Part 2)
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Case Study
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Checkpoint 1
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Court Findings
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Checkpoint 2
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Damages and Conclusion
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Checkpoint 3
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Dealership Liability
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Summary
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Lesson ACE: OFAC
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Specially Designated Nationals
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Checkpoint 1
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Potential Matches
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Checkpoint 2
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False Positives, Valid Matches, & Violations
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Summary
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Lesson ACE: Preventing In-Dealership Theft
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Common Employee Theft Scams
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Checkpoint 1
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Identifying Theft and Collecting Evidence
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Summary
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Lesson ACE: Quoting Payments
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Payment Packing
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Checkpoint 1
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Discrimination
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Checkpoint 2
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Other Methods
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Summary
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Lesson ACE: Red Flags Rule (Part 1)
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What is a Red Flag?
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Checkpoint 1
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What Actions Does the Rule Require?
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Checkpoint 2
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Identity Theft Prevention Program
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Summary
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Lesson ACE: Red Flags Rule (Part 2)
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Developing an Identity Theft Prevention Program
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Checkpoint 1
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Covered Accounts
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Checkpoint 2
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Alerts and Notifications
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Checkpoint 3
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Suspicious Documents & Information
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Checkpoint 4
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Notices of Identity Theft
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Summary
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Lesson ACE: Red Flags Rule (Part 3)
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Identity Theft Prevention Program
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Checkpoint 1
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Suspicious Activity and Documentation
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Checkpoint 2
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Detecting Discrepancies
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Summary
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Lesson ACE: Red Flags Rule (Part 4)
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Responding to Red Flags
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Checkpoint 1
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Clearing Red Flags
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Checkpoint 2
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Unresolved Red Flags
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Summary
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Lesson ACE: Red Flags Rule (Part 5)
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Mitigating Identity Theft
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Checkpoint 1
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Data Breach Incident Response
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Checkpoint 2
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Who to Notify
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Checkpoint 3
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What to Include in Your Notice
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Checkpoint 4
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Identity Theft Recovery Services
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Summary
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Lesson ACE: Red Flags Rule (Part 6)
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Service Provider Oversight
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Checkpoint 1
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Effective Oversight
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Checkpoint 2
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Service Provider Contracts
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Summary
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Lesson ACE: Red Flags Rule (Part 7)
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Training and Periodical Updates
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Checkpoint 1
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Elements of a Program Review
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Summary
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Lesson ACE: Regulation M (Part 1)
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How is Leasing Different from Buying?
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Checkpoint 1
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Important Terms to Know
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Checkpoint 2
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Disclosures
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Summary
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Lesson ACE: Regulation M (Part 2)
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Advertising Disclosure Requirements
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Checkpoint 1
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Triggering Terms
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Checkpoint 2
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Obtaining Lease Information by Phone
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Checkpoint 3
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Print Ads
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Summary
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Lesson ACE: Regulation Z (Part 1)
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Auto Financing
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Checkpoint 1
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Installment Sale Contract
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Checkpoint 2
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Understanding Customer Priorities
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Summary
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Lesson ACE: Regulation Z (Part 2)
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Disclosure of Consumer Credit Terms in Advertising
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Checkpoint 1
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Triggering Terms
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Checkpoint 2
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Finance Rate Disclosures
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Checkpoint 3
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Credit Advertising Best Practices
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Summary
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Lesson ACE: Regulation Z (Part 3)
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Mandatory Disclosures
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Checkpoint 1
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Amount Financed Itemized
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Checkpoint 2
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Violations, Penalties, & Best Practices
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Summary
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Lesson ACE: Risk-Based Pricing Rule
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Impact of the Rule on Dealerships
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Checkpoint 1
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Who Receives a Risk-Based Pricing Notice?
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Checkpoint 2
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Notice Forms
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Summary
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Lesson ACE: Safeguards Rule (Part 1)
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Non-Public Information
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Checkpoint 1
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Recognizing NPI
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Checkpoint 2
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Employee Responsibility
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Checkpoint 3
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Computer Network
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Checkpoint 4
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Internet Safety
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Summary
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Lesson ACE: Safeguards Rule (Part 2)
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Security Risk Assessment
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Checkpoint 1
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Internet Sales
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Checkpoint 2
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Network Vulnerability Assessments
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Checkpoint 3
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Employee Education
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Summary
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Lesson ACE: Safeguards Rule (Part 3)
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Physical Safeguards
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Checkpoint 1
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Technical Safeguards
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Checkpoint 2
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Administrative Safeguards
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Summary
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Lesson ACE: Safeguards Rule (Part 4)
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Overseeing Service Providers
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Checkpoint 1
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Identifying Service Providers
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Checkpoint 2
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Ensuring Service Providers Comply
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Summary
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Lesson ACE: Safeguards Rule (Part 5)
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Testing for Effectiveness
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Checkpoint 1
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Reviewing Your Program
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Checkpoint 2
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NVAs and Audits
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Summary
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Lesson ACE: Safeguards Rule (Part 6)
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Reacting to Data Breaches
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Checkpoint 1
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Employees and Customers After a Data Breach
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Checkpoint 2
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Learning from a Data Breach
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Summary
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Lesson ACE: Sexual Harassment and Discrimination
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Introduction
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Legal Overview
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Checkpoint 1
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What is Sexual Harassment?
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Checkpoint 2
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Examples of Conduct
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Checkpoint 3
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The Complaint Process
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Checkpoint 4
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Protected Classes
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Checkpoint 5
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Discrimination in the Workplace
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Summary
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Lesson ACE: Telemarketing Sales Rule
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Legal Overview
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Checkpoint 1
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Rules for Calling
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Checkpoint 2
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Requirements and Best Practices
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Checkpoint 3
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Telephone Consumer Protection Act
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Checkpoint 4
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Prior Consent
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Summary
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Lesson Compliance Officer | Study Guide
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Exam Study Guide
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Lesson Compliance Officer | Certification Exam
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ACE: Compliance Officer | Exam
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Lesson ACE: UDAP
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Clip 1 of 3
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Clip 2 of 3
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Checkpoint 1
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Clip 3 of 3
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Checkpoint 2
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Summary
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