Which of the Following Statements Expresses the Purpose of the Truth-In-Lending

question 23

Multiple Choice

Which of the following statements expresses the purpose of the Truth-in-Lending Act?

• A) To require lenders to charge a "reasonable" rate of interest.
• B) To help small business.
• C) To provide consumers with information necessary to make the best credit decision.
• D) To help lenders limit state laws.

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Definitions:

Advantages

Positive or favorable factors or conditions that contribute to reaching a goal or achieving a desirable outcome.

Extreme Opening Offer

An initial negotiation position that is highly ambitious or far from what is ultimately desired, used as a strategy to shift the bargaining range.

Commitment

The state or quality of being dedicated to a cause, activity, or goal, often demonstrated through persistence and effort.

Screen a Position

The act of reviewing or evaluating a stance or viewpoint critically before further consideration.