Free CRCM Exam Braindumps (page: 80)

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When must disclosures on consumer leasing transactions subject to Regulation M be made?

  1. At the time of the application
  2. Before the consummation of the lease
  3. Before the first payment due under the lease
  4. Within 10 days after consummation of the lease

Answer(s): B



When must disclosures on consumer leasing transactions subject to Regulation M be made?

  1. At the time of the application
  2. Before the consummation of the lease
  3. Before the first payment due under the lease
  4. Within 10 days after consummation of the lease

Answer(s): B



A bank does not know all of the specific information to be disclosed on the lease at the time of the consummation. What may the bank do after attempting to obtain the information?

  1. Omit the unknown disclosures
  2. Estimate the amounts and note that the information is estimated
  3. Delay consummation of the transaction until the information is ascertained
  4. Estimate the information based on averages of all other leasing transactions the bank has made within the last six months

Answer(s): B



A bank does not know all of the specific information to be disclosed on the lease at the time of the consummation. What may the bank do after attempting to obtain the information?

  1. Omit the unknown disclosures
  2. Estimate the amounts and note that the information is estimated
  3. Delay consummation of the transaction until the information is ascertained
  4. Estimate the information based on averages of all other leasing transactions the bank has made within the last six months

Answer(s): B






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