QUESTION: 64

Debt Cancellation Contracts and Debt Suspension Agreements coverage includes:

National banks that issue debt cancellation contracts and debt suspension agreements with borrowers in connection with loans for personal, family, or household purposes
A national bank may not engage in any practice, including advertising, which would cause a reasonable person to be misled with respect to DSAs and DCCs
A bank must provide the long-form disclosures in writing before the customer completes the purchase of a contract. If the solicitation occurs in person, the long-form disclosures must be provided at that time
A bank must make the short-form disclosures orally at the time the bank first solicits the contract

Answer(s): A

Reveal Solution Next Question

QUESTION: 64

Debt Cancellation Contracts and Debt Suspension Agreements coverage includes:

National banks that issue debt cancellation contracts and debt suspension agreements with borrowers in connection with loans for personal, family, or household purposes
A national bank may not engage in any practice, including advertising, which would cause a reasonable person to be misled with respect to DSAs and DCCs
A bank must provide the long-form disclosures in writing before the customer completes the purchase of a contract. If the solicitation occurs in person, the long-form disclosures must be provided at that time
A bank must make the short-form disclosures orally at the time the bank first solicits the contract

Answer(s): A

Reveal Solution Next Question

QUESTION: 64

Debt Cancellation Contracts and Debt Suspension Agreements coverage includes:

National banks that issue debt cancellation contracts and debt suspension agreements with borrowers in connection with loans for personal, family, or household purposes
A national bank may not engage in any practice, including advertising, which would cause a reasonable person to be misled with respect to DSAs and DCCs
A bank must provide the long-form disclosures in writing before the customer completes the purchase of a contract. If the solicitation occurs in person, the long-form disclosures must be provided at that time
A bank must make the short-form disclosures orally at the time the bank first solicits the contract

Answer(s): A

Reveal Solution Next Question

This is a loan term or an arrangement that modifies a loan term under which a bank agrees to cancel all or part of a customer's loan obligation on the occurrence of a specified event. It may be included as a part of the loan documents, or it may be a separate agreement. What is it?

Debt suspension agreement (DSA)
Anti-dying
Debt cancellation contract (DCC)
ALLL

Answer(s): C

Reveal Solution Next Question

Free CRCM Exam Braindumps (page: 49)

QUESTION: 64

QUESTION: 64

QUESTION: 64

QUESTION: 65

CRCM Discussions & Posts