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Free CRCM Exam Braindumps (page: 29)

Page 29 of 344
PDF with 463 Questions

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:

  1. Consumer leasing act
  2. Risk disclosure act
  3. ALLL
  4. None of these

Answer(s): A



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

  1. 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
  2. Number, amount, and due date of payments scheduled and the total amount of periodic payments
  3. 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"
  4. If there are multiple items of property, the property description may be separate

Answer(s): D



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

  1. 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
  2. Number, amount, and due date of payments scheduled and the total amount of periodic payments
  3. 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"
  4. If there are multiple items of property, the property description may be separate

Answer(s): D



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

  1. 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
  2. Number, amount, and due date of payments scheduled and the total amount of periodic payments
  3. 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"
  4. If there are multiple items of property, the property description may be separate

Answer(s): D



Page 29 of 344



Post your Comments and Discuss Banking CRCM exam with other Community members:

LeAnne Hair commented on August 24, 2023
#229 in incorrect - all the customers require an annual review
UNITED STATES
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LeAnne Hair commented on August 24, 2023
#229 in incorrect - all the customers require an annual review
UNITED STATES
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LeAnne Hair commented on August 24, 2023
I think question 204 has an incorrect solution. It should be D-Regulation E
UNITED STATES
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Igor commented on April 10, 2020
Guys, leave no stones unturned. Try to study every questions and anything other supplementary material you have. The exam is not easy. I just wrote mine and if it wss not for these questions I would have not have passed it.
BULGARIA
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Lori commented on July 20, 2017
I had a good result. Worth the money.
UNITED STATES
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Chipps commented on July 20, 2017
Studying from this dump helped me understand the concept and what comes in the exam. But I only get about 80 to 85% of the questions not 100% as it is claimed. Well... still good enough to pass.
UNITED STATES
upvote