FTL Requires That the Lender Disclose an Estimated Cost of Financing

question 13

True/False

FTL requires that the lender disclose an estimated cost of financing within three days of loan application.

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Definitions:

Maximum Loan

The largest amount of money that one can borrow from a lender under specified terms.

Insured

An insured individual is someone who is covered under an insurance policy, protecting them against certain risks or losses.

Deductible

The amount paid out of pocket by the policyholder before an insurance company pays any expenses.

Medical Bills

Charges incurred for medical products or services, including hospital care, physician services, and medications.