Regarding Finance Charges and APR,Regulation Z Requires That Their Disclosure

question 16

Multiple Choice

Regarding finance charges and APR,Regulation Z requires that their disclosure

• A) is not necessary.
• B) be included with the rest of the information regarding the credit transaction.
• C) be more conspicuous than other disclosures.
• D) need not be seen by the consumer.

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Definitions:

Legal Recognition

The formal acknowledgment by a legal authority that validates the status, rights, or legitimacy of an entity, action, or agreement.

Unilateral Contract

A contract in which only one party makes an enforceable promise to do or refrain from doing something if the other party performs some act.

Binding Contract

An agreement between parties that is legally enforceable by law, containing all essential elements of a contract.

Unilateral Contract

A contract in which only one party makes a promise or undertakes a performance, while the other party accepts by performing the specified act.