State RegulationsAZ specificDifficulty 1/5
The Gramm-Leach-Bliley Act (Public Law 106-102), mirrored in Arizona by A.R.S. 20-2121, primarily requires insurers and other financial institutions to:
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Answer & full 3-part explanation (select an option above, or peek)
Why D is correct
The Gramm-Leach-Bliley Act (Public Law 106-102) is the federal financial-privacy statute: it requires financial institutions, including insurers, to disclose their privacy practices to customers and to protect nonpublic personal financial information. A.R.S. 20-2121 is Arizona's analogue within the state's insurance information and privacy chapter, imposing the same notice-and-safeguard framework on insurers doing business in Arizona.
Why the other options are wrong
- A) The Act concerns privacy of customer data, not any guarantee of investment returns.
- B) Employee benefits are unrelated to the Act's privacy mandates.
- C) The Act is named for its modernization of financial-affiliations law, but its insurance-exam significance is the privacy notice requirement, not forced mergers.
Memory hook
GLBA = notice + safeguard; A.R.S. 20-2121 is Arizona's twin.