2C: Prepare Legal Documents Flashcards
1.1 Compare and contrast governance, risk, and compliance reports.
A law enacted in 1999 that deregulated banks, but also instituted requirements that help protect the privacy of an individual’s financial information that is held by financial institutions.
Gramm-Leach-Bliley Act (GLBA)
An act that governs the privacy and disclosure of personal information gathered by state Departments of Motor Vehicles.
Driver’s Privacy Protection Act
A Privacy Rule that establishes national standards to protect the privacy of individuals’ medical records.
Health Insurance Portability and Accountability Act (HIPAA)
Agreement that stipulates that entities will not share confidential information, knowledge, or materials with unauthorized third parties.
Non Disclosure Agreement (NDA)
A contract that establishes precedence and guidelines for any business documents that are executed between two parties.
Master Service Agreement (MSA)
A document that defines the expectations for a specific business arrangement. It typically includes a list of deliverables, responsibilities of both parties, payment milestones, schedules, and other terms.
Statement of Work (SOW)
A contract that outlines the detailed terms under which a service is provided, including reasons the contract may be terminated.
Service-Level Agreement (SLA)
