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Question 1 of 9

1. Question
TRID Nickname

What is the common nickname for the TILA-RESPA Integrated Disclosure rule?
- A. “Know Before You Sign”
- B. “Know Before You Owe”
- C. “Truth in Lending 2.0”
- D. “Closing Simplification Act”
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Question 2 of 9

2. Question
Loan Estimate – Source Forms

Effective October 3, 2015, which two disclosures were combined into the Loan Estimate?
- A. HUD-1 Settlement Statement and initial Truth-in-Lending Disclosure
- B. Good Faith Estimate (GFE) and HUD-1 Settlement Statement
- C. Good Faith Estimate (GFE) and initial Truth-in-Lending Disclosure
- D. Closing Disclosure and initial Truth-in-Lending Disclosure
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Question 3 of 9

3. Question
Loan Estimate – Timing

When must the Loan Estimate be provided to the consumer?
- A. Within 7 business days after application and 3 days before closing
- B. No later than 3 business days after application and 7 business days before consummation
- C. At closing only
- D. Any time before funding
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Question 4 of 9

4. Question
Closing Disclosure – Source Forms

Which two disclosures were combined to create the Closing Disclosure?
- A. GFE and final Truth-in-Lending Disclosure
- B. Initial and final Truth-in-Lending Disclosures
- C. HUD-1 Settlement Statement and final Truth-in-Lending Disclosure
- D. HUD-1 Settlement Statement and Loan Estimate
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Question 5 of 9

5. Question
Closing Disclosure – Timing

When must the Closing Disclosure be provided to the consumer?
- A. At least 3 business days before consummation
- B. At least 7 business days before consummation
- C. No later than 3 business days after loan application
- D. Anytime prior to funding
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Question 6 of 9

6. Question
TRID – Excluded Loan Types

To which types of loans does the TRID integrated disclosure rule not apply?
- A. All FHA and VA loans
- B. All investment property loans
- C. HELOCs, reverse mortgages, and mortgages secured by a mobile home or dwelling not attached to real property
- D. All owner-occupied refinances
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Question 7 of 9

7. Question
TRID – Non-Creditor Threshold

Which creditors are not subject to the TRID integrated disclosure requirements?
- A. Creditors making only FHA loans
- B. Creditors making only jumbo loans
- C. Persons who make five or fewer mortgages in a year and are not considered creditors
- D. Creditors who sell all loans on the secondary market
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Question 8 of 9

8. Question
Forms Used for Non-TRID Loans

For loans that are not covered by the TILA-RESPA integrated disclosure rule, which forms must creditors continue to use?
- A. Only the Loan Estimate and Closing Disclosure
- B. The GFE and HUD-1, but not the TIL
- C. The current GFE, TIL, and HUD-1 Settlement Statement
- D. Only the Truth-in-Lending Disclosure
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Question 9 of 9

9. Question
Loans Newly Covered by TRID

Which of the following loans are subject to the TILA-RESPA integrated disclosure rule, even though they were previously subject only to TILA and not RESPA?
- A. HELOCs and reverse mortgages
- B. Construction-only loans, loans secured by vacant land or 25+ acres, certain down payment assistance loans, and certain trust loans for tax/estate planning
- C. Loans for business-purpose commercial properties
- D. Timeshare interests
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