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Free CRCM Exam Braindumps (page: 31)

Page 31 of 344
PDF with 463 Questions

Which one of the following should be included in an early termination notice in case of the termination from consumer leasing agreement?

  1. A warning to the consumer that a substantial charge may result from early termination (required only in a motor vehicle lease)
  2. A statement of the conditions under which the lessee or lessor may terminate the lease prior to the end of the lease term
  3. The purchase option at the end of the lease term
  4. The amount of any penalty or other charge for early termination (the penalty must be reasonable)

Answer(s): A,B,D



Which one of the following should be included in an early termination notice in case of the termination from consumer leasing agreement?

  1. A warning to the consumer that a substantial charge may result from early termination (required only in a motor vehicle lease)
  2. A statement of the conditions under which the lessee or lessor may terminate the lease prior to the end of the lease term
  3. The purchase option at the end of the lease term
  4. The amount of any penalty or other charge for early termination (the penalty must be reasonable)

Answer(s): A,B,D



In Consumer Leasing Act Content of non-segregated disclosures may be made separately or as part of another document (such as the lease agreement); however, other information cannot be stated, used, or placed so as to mislead or confuse the consumer. Other disclosures include all of the following EXCEPT:

  1. A statement of the conditions under which the lessee or lessor may terminate the lease before the end of the lease term, along with the amount (or a description of the method of how the amount is determined) of any penalty or other charge for early termination
  2. Whether the lessee has the option to purchase the leased property during the lease term and, if applicable, the purchase price (or method for determining it) and when the lessee may exercise it
  3. The lessee's right to an independent appraisal of the property if the lessee's liability at the end of the lease is based on the realized value of the leased property, and that the appraisal will be binding on all parties
  4. A statement of maintenance responsibilities including the counter bank responsible and a description of the responsibility

Answer(s): D



In Consumer Leasing Act Content of non-segregated disclosures may be made separately or as part of another document (such as the lease agreement); however, other information cannot be stated, used, or placed so as to mislead or confuse the consumer. Other disclosures include all of the following EXCEPT:

  1. A statement of the conditions under which the lessee or lessor may terminate the lease before the end of the lease term, along with the amount (or a description of the method of how the amount is determined) of any penalty or other charge for early termination
  2. Whether the lessee has the option to purchase the leased property during the lease term and, if applicable, the purchase price (or method for determining it) and when the lessee may exercise it
  3. The lessee's right to an independent appraisal of the property if the lessee's liability at the end of the lease is based on the realized value of the leased property, and that the appraisal will be binding on all parties
  4. A statement of maintenance responsibilities including the counter bank responsible and a description of the responsibility

Answer(s): D



Page 31 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