The Law That Requires That a Lending Institution Disclose to the Borrower

question 68

Multiple Choice

The law that requires that a lending institution disclose to the borrower in writing the actual rate of interest is known as the:

• A) APR Law
• B) Constant Formula Disclosure Law
• C) Rule of 78
• D) Truth in Lending Act

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Definitions:

Pdf

Portable Document Format, a file format used to present documents in a manner independent of application software, hardware, and operating systems.

Cover Letter

A document sent alongside a resume that introduces the applicant, outlines their qualifications, and expresses interest in the job.

Hiring Manager

An individual within an organization responsible for the recruitment and selection of new employees.

Functional Style Résumé

A type of résumé format that focuses on skills and experiences rather than on chronological work history, typically used by individuals changing careers or with gaps in their employment history.