The Truth-In-Lending Law

question 31

Multiple Choice

The Truth-in-Lending law:

• A) requires the lender disclose the APR on a mortgage loan
• B) requires the lender disclose the total finance charges on a mortgage loan
• C) provides for penalties for failure to accurately disclose the APR
• D) all of the above

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Definitions:

Fishing Season

A specified period during the year when fishing is allowed, often regulated to promote sustainable fish populations and ecosystems.

Emissions

The release of substances (such as gases, dust, or chemicals) into the atmosphere or environment, typically referring to pollutants.

Marginal Cost

The increase or decrease in the total cost that arises when the quantity produced is incremented by one additional unit.

Environmental Protection Agency

A U.S. federal agency responsible for protecting human health and the environment by enforcing regulations based on laws passed by Congress.