Which of the Following Federal Statutes Requires Creditors to Disclose

question 72

Multiple Choice

Which of the following federal statutes requires creditors to disclose finance charges,including interest,points,and other fees paid for the extension of credit to debtors?

• A)Fair Debt Collection Practices Act
• B)Consumer Financial Protection Act of 2010
• C)Mortgage Reform and Anti-Predatory Lending Act of 2010
• D)Truth-in-Lending Act

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Definitions:

Supply and Demand

Economic model of price determination in a market, showing the relationship between the quantity of goods that producers wish to sell at various prices and the quantity consumers wish to buy.

Specific Tax

A fixed amount taxed per unit of a good or service, as opposed to a percentage of the price.

Fraction

A numerical quantity that is not a whole number, represents a part of a whole, typically written with a numerator and a denominator separated by a slash.

Consumers

Individuals or households that use goods and services generated within the economy.