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Question 1 of 8

1. Question
A mortgage company reviews a regulation governing mortgage advertising. Which federal agency oversees this Act?
- A) Federal Trade Commission (FTC)
- B) Department of Housing and Urban Development (HUD)
- C) Consumer Financial Protection Bureau (CFPB)
- D) Federal Housing Finance Agency (FHFA)
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Question 2 of 8

2. Question
A lender publishes a mortgage advertisement and later removes it from circulation. How long must the lender generally retain records of the advertisement?
- A) 12 months from the first publication date
- B) 18 months from the last publication date
- C) 36 months from the last publication date
- D) 24 months from the last date of the communication
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Question 3 of 8

3. Question
A mortgage advertisement includes an example of a specific loan program with stated credit terms. Which requirement applies to the advertisement?
- A) The example may be hypothetical and unavailable.
- B) The advertisement must include all terms applicable to the example, and the terms must actually be available.
- C) The advertisement may omit material terms if space is limited.
- D) The example may be based on future projected rates.
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Question 4 of 8

4. Question
A lender advertises a finance charge rate in a mortgage advertisement. What additional disclosure is required?
- A) The APR must be stated using the term Annual Percentage Rate or APR
- B) The lender's NMLS number only
- C) The total amount financed
- D) The borrower's projected payment history
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Question 5 of 8

5. Question
Which lending rate is considered the primary rate that may be advertised?
- A) Note rate
- B) Prime rate
- C) Discount rate
- D) APR
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Question 6 of 8

6. Question
A mortgage advertisement displays “7.00% Interest Rate” in large print and “7.125% APR” in smaller print. Why could this be problematic?
- A) Interest rates may never be advertised.
- B) APR must not be less conspicuous than the interest rate.
- C) APR is optional when the interest rate is shown.
- D) Only APR may appear in mortgage advertising.
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Question 7 of 8

7. Question
A lender advertises an adjustable-rate mortgage with a low introductory interest rate. What additional information must be included?
- A) The lender's annual revenue
- B) The borrower's future credit score
- C) A statement that the interest rate may change during the loan term
- D) The appraised value of the property
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Question 8 of 8

8. Question
A mortgage advertisement contains a triggering term. What is the likely consequence?
- A) The advertisement must disclose additional credit terms.
- B) The advertisement becomes exempt from disclosure requirements.
- C) The advertisement must be approved by HUD.
- D) The advertisement may omit the APR.
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