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Question 1 of 8

1. Question
A mortgage company reviews its advertising compliance procedures and wants to verify which federal agency oversees the Mortgage Acts and Practices Advertising Rule (Regulation N). Which agency has regulatory authority over this rule?
- A) Department of Housing and Urban Development (HUD)
- B) Consumer Financial Protection Bureau (CFPB)
- C) Federal Housing Administration (FHA)
- D) Federal Trade Commission (FTC)
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Question 2 of 8

2. Question
A lender plans to delete advertising records from a marketing campaign that ended 18 months ago. According to Regulation N, how long must mortgage advertisements be retained?
- A) 12 months
- B) 18 months
- C) 24 months
- D) 36 months
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Question 3 of 8

3. Question
A mortgage company advertisement includes an example of a specific loan program. Which statement correctly describes the requirements for using examples of credit terms in an advertisement?
- A) Examples may omit fees and charges.
- B) Examples may be based on unavailable loan terms.
- C) Examples must be approved by the CFPB before publication.
- D) All terms applicable to the example must be included and actually available.
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Question 4 of 8

4. Question
A lender advertises a finance charge rate in a mortgage advertisement. How must that rate be disclosed?
- A) As an Annual Percentage Rate (APR)
- B) As a monthly interest rate
- C) As a note rate only
- D) As a payment factor
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Question 5 of 8

5. Question
A new loan officer asks which lending rate is the primary rate that may be advertised in a mortgage advertisement. What is the correct answer?
- A) Prime Rate
- B) Treasury Rate
- C) Annual Percentage Rate (APR)
- D) Discount Rate
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Question 6 of 8

6. Question
A mortgage advertisement prominently displays a 7.00% interest rate. What additional disclosure must also appear in the advertisement?
- A) The borrower's credit score
- B) The loan officer's license number
- C) The APR
- D) The property's appraised value
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Question 7 of 8

7. Question
A lender advertises an adjustable-rate mortgage with an initial interest rate. What additional information must be included in the advertisement?
- A) That the interest rate may change during the loan term
- B) The name of the underwriter
- C) The servicing company's address
- D) The borrower's future payment amount
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Question 8 of 8

8. Question
A mortgage advertisement contains a triggering term. What is the result under federal advertising rules?
- A) The advertisement must be approved by the CFPB
- B) Additional credit disclosures are required
- C) The advertisement may only be used online
- D) The advertisement becomes exempt from APR requirements
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