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Banking CRCM Exam Questions
CERTIFIED REGULATORY COMPLIANCE MANAGER (CRCM) (Page 24 )

Updated On: 6-Apr-2026
Page 24 of 276
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



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



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



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