State RegulationsAZ specificDifficulty 1/5
The Gramm-Leach-Bliley Act requires insurers and other financial institutions to:
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Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
The Gramm-Leach-Bliley Act, Public Law 106-102, is the federal financial-privacy statute: it obliges financial institutions, including insurers, to protect consumers' nonpublic personal financial information and to disclose their information-sharing practices through privacy notices. Arizona mirrors these principles in its own privacy chapter at A.R.S. 20-2121, so GLBA duties follow an insurer into the state regulatory scheme.
Why the other options are wrong
- A) GLBA imposes privacy and notice duties; it does not condition affiliate sharing on a license.
- C) fraud reporting is a separate insurance-fraud requirement, not GLBA's core mandate.
- D) free-look provisions are product rules, not GLBA privacy requirements.
Memory hook
GLBA guards private financial data.