The Truth-In-Lending Act Covers Only Certain Classes of Consumer Credit

question 22

Multiple Choice

The Truth-in-Lending Act covers only certain classes of consumer credit transactions. For example, the:

• A) debtor must be a business organization
• B) creditor may not be a business organization
• C) creditor must be in the business of regularly granting credit
• D) debtor must be a business organization and the creditor must be in the business of regularly granting credit
• E) creditor may not be a business organization and the creditor must be in the business of regularly granting credit

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Definitions:

Nematocysts

Specialized cells found in cnidarians (e.g., jellyfish) that contain a coiled, venomous thread used for capturing prey and defense.

Tube-shaped

Describing an object or structure that is long, hollow, and cylindrical.

Water Vascular System

A unique hydraulic system used by echinoderms, such as starfish, for locomotion, food and water transportation, and respiration.

Exoskeleton

A rigid external covering for the body in some invertebrate animals, especially arthropods, providing both support and protection.