Fact Pattern 16-2 (Questions 21-22 Apply)

question 33

Multiple Choice

Fact Pattern 16-2 (Questions 21-22 apply)
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 16-2. 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:

Hospitalized

The act of admitting an individual to a hospital for treatment, observation, or other medical care.

Violent Behavior

Actions that involve force with the intent to injure, damage, or kill.

Severe Mental Disorder

A broad category of mental health conditions that significantly interfere with an individual’s ability to function in daily life.

Violent Acts

Behaviors that involve physical force intended to hurt, damage, or kill someone or something.