Which of the Following Is True About the Truth in Lending

question 35

Multiple Choice

Which of the following is true about the Truth in Lending Act (TILA) ?

• A)Extending credit must be the creditor's primary business.
• B)A creditor must require payment in more than two installments.
• C)A debtor must be a natural person,not a business organization.
• D)Consumer credit includes credit extended for agricultural purposes.

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Definitions:

Dimensional-Analysis

A method in physics and engineering to check the consistency of equations and to perform unit conversions.

Conversion Factor

A numerical value used to convert quantities expressed in one unit into another unit of measure.

Minutes

A unit of time equal to one sixtieth of an hour, or 60 seconds.

Hours

A time unit equal to 60 minutes, used to measure duration.