QUESTION: 38

The act limited balloon payments in consumer leases and enabled consumers to compare lease terms with credit terms where appropriate. The act was implemented by Regulation M (Consumer Leasing). It requires disclosures to consumers before consummation of the lease agreement. This act is:

Consumer leasing act
Risk disclosure act
ALLL
None of these

Answer(s): A

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QUESTION: 39

Content of segregated disclosures in Consumer Leasing Act include all of the following EXCEPT:

Amount due at lease signing or delivery, itemized by type and amount, including:
efundable security deposit
Advance monthly or other periodic payment
Capitalized cost reduction
An itemization of how the amount due will be paid, by type and amount (only required in a motor vehicle lease), using the model form
Number, amount, and due date of payments scheduled and the total amount of periodic payments
In an open-end lease, the descriptive statement "You will owe an additional amount if the actual value of the vehicle is less than the residual value"
If there are multiple items of property, the property description may be separate

Answer(s): D

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QUESTION: 39

Content of segregated disclosures in Consumer Leasing Act include all of the following EXCEPT:

Amount due at lease signing or delivery, itemized by type and amount, including:
efundable security deposit
Advance monthly or other periodic payment
Capitalized cost reduction
An itemization of how the amount due will be paid, by type and amount (only required in a motor vehicle lease), using the model form
Number, amount, and due date of payments scheduled and the total amount of periodic payments
In an open-end lease, the descriptive statement "You will owe an additional amount if the actual value of the vehicle is less than the residual value"
If there are multiple items of property, the property description may be separate

Answer(s): D

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QUESTION: 39

Content of segregated disclosures in Consumer Leasing Act include all of the following EXCEPT:

Amount due at lease signing or delivery, itemized by type and amount, including:
efundable security deposit
Advance monthly or other periodic payment
Capitalized cost reduction
An itemization of how the amount due will be paid, by type and amount (only required in a motor vehicle lease), using the model form
Number, amount, and due date of payments scheduled and the total amount of periodic payments
In an open-end lease, the descriptive statement "You will owe an additional amount if the actual value of the vehicle is less than the residual value"
If there are multiple items of property, the property description may be separate

Answer(s): D

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QUESTION: 38

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QUESTION: 39

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