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Question 1 of 6

1. Question
FEDERAL OVERSIGHT OF THE CFPB

A federal agency investigates mortgage lenders to ensure borrowers receive accurate disclosures regarding loan pricing, costs, and financial risks before closing.

Which CFPB oversight responsibility does this describe?
- A) Monitoring zoning and land use regulations
- B) Supervising property tax assessments
- C) Regulating state real estate licensing commissions
- D) Ensuring pricing and risks are disclosed to consumers
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Question 2 of 6

2. Question
FEDERAL OVERSIGHT OF THE CFPB

A consumer files a complaint alleging deceptive mortgage advertising and unfair lending practices by a mortgage company.

Which CFPB oversight responsibility applies in this situation?
- A) Managing foreclosure auctions
- B) Restricting unfair, deceptive, and abusive acts and practices while taking consumer complaints
- C) Supervising county recording offices
- D) Issuing homeowner insurance policies
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Question 3 of 6

3. Question
FUNCTIONS PERFORMED BY THE CFPB

Which statement best describes the Consumer Financial Protection Bureau (CFPB)?
- A) A private banking association funded by mortgage lenders
- B) A state agency supervising only FHA-insured loans
- C) A nonprofit consumer counseling organization
- D) An independent bureau funded by the Federal Reserve that drafts and enforces regulations for financial service providers
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Question 4 of 6

4. Question
CFPB OVERSIGHT AUTHORITY

A federal regulator supervises mortgage lenders, credit card companies, debt collectors, and loan servicers to ensure compliance with federal consumer financial protection laws.

Which federal agency has this broad oversight authority?
- A) Federal Emergency Management Agency (FEMA)
- B) Consumer Financial Protection Bureau (CFPB)
- C) Department of Veterans Affairs (VA)
- D) Internal Revenue Service (IRS)
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Question 5 of 6

5. Question
CFPB OVERSIGHT AUTHORITY

Which group of federal laws falls under CFPB oversight authority?
- A) RESPA, ECOA, TILA-HOEPA, SAFE Act, HMDA, FCRA, FACTA, HPA, and Dodd-Frank
- B) Social Security Act, Sherman Antitrust Act, and Fair Labor Standards Act
- C) Bankruptcy Code, Uniform Commercial Code, and Federal Arbitration Act
- D) National Labor Relations Act and Occupational Safety and Health Act
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Question 6 of 6

6. Question
CFPB OVERSIGHT AUTHORITY

A mortgage company is investigated for inaccurate credit reporting practices and violations involving borrower privacy and loan disclosures.

Which CFPB-regulated federal laws could apply to this investigation?
- A) National Flood Insurance Act only
- B) Americans with Disabilities Act only
- C) Uniform Commercial Code only
- D) Fair Credit Reporting Act (FCRA) and FACTA
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