Fact Pattern 24-Hour Credit Corporation Issues High-Cost and High-Fee Mortgage Products to Mortgage

question 30

Multiple Choice

Fact Pattern
24-Hour Credit Corporation issues high-cost and high-fee mortgage products to people,including Benny,who could not easily obtain credit under other loan programs.
-Refer to Fact Pattern 16-1A.Under federal law,if 24-Hour Credit fails to provide certain material disclosures with respect to the loan,Benny's right to rescind the loan

• A)expires at midnight on the day the loan is finalized.
• B)is immediately revoked.
• C)is extended for up to three years.
• D)is tolled for the duration of the loan payments.

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Definitions:

Synapses

Synapses are the junctions through which neurons signal to each other or to non-neuronal cells, allowing for the transmission of electrical or chemical signals across the nervous system.

Calcium

A chemical element essential for life, playing critical roles in cell signaling, muscle contraction, and bone strength.

cGMP

Cyclic guanosine monophosphate, a secondary messenger used in intracellular signal transduction, influencing cellular processes such as muscle relaxation and phototransduction.

Storage Granules

Organelles within cells that store and secrete various substances like hormones, neurotransmitters, or enzymes until they are needed.