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Question 1 of 12
1. Question
A lender advertises “Only 3 percent down!” with no other loan terms shown.
What must be included because this is triggering language?
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Question 2 of 12
2. Question
An ad states “30-year mortgage available.”
Which type of statement is considered triggering language?
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Question 3 of 12
3. Question
A radio ad says “Payments as low as 1,250 per month.”
Why are additional disclosures required?
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Question 4 of 12
4. Question
An ad states “Low finance charges available.”
What makes this triggering language?
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Question 5 of 12
5. Question
A billboard advertises “3 percent down payment.”
Which disclosures must accompany this?
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Question 6 of 12
6. Question
An ad shows “6.25% interest rate” only.
What must also be shown?
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Question 7 of 12
7. Question
An ad shows 5.75% large and APR 6.10% tiny.
Why is this noncompliant?
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Question 8 of 12
8. Question
ARM ad shows intro rate but no term.
What must be added?
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Question 9 of 12
9. Question
ARM ad illustrates reduced payment only.
Is this permitted?
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Question 10 of 12
10. Question
ARM ad omits caps.
Is this acceptable?
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Question 11 of 12
11. Question
ARM APR uses index plus margin.
Why is this acceptable?
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Question 12 of 12
12. Question
Lender uses sample ARM APR.
Is this allowed?
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