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Free CRCM Exam Braindumps (page: 82)

Page 81 of 344
PDF with 463 Questions

The initial disclosure requires that certain disclosures relating to the termination of a lease be given to the consumer. Which of these disclosures is NOT required?

  1. The conditions under which the lease may be terminated before the end of its term
  2. Whether or not the lessee has the option to purchase the property and at what price
  3. Whether the lease may be extended at the option of the lessee
  4. Whether the lessee will be liable for the difference between the estimated value of the property and its realized value at the termination or end of the lease

Answer(s): C



The initial disclosure requires that certain disclosures relating to the termination of a lease be given to the consumer. Which of these disclosures is NOT required?

  1. The conditions under which the lease may be terminated before the end of its term
  2. Whether or not the lessee has the option to purchase the property and at what price
  3. Whether the lease may be extended at the option of the lessee
  4. Whether the lessee will be liable for the difference between the estimated value of the property and its realized value at the termination or end of the lease

Answer(s): C



The initial disclosure requires that certain disclosures relating to the termination of a lease be given to the consumer. Which of these disclosures is NOT required?

  1. The conditions under which the lease may be terminated before the end of its term
  2. Whether or not the lessee has the option to purchase the property and at what price
  3. Whether the lease may be extended at the option of the lessee
  4. Whether the lessee will be liable for the difference between the estimated value of the property and its realized value at the termination or end of the lease

Answer(s): C



Roberta Milton's car lease with First National Bank reached its termination on August 1. Roberta and the bank agreed to extend the lease on a month-tomonth basis without charging her a fee for doing so. What disclosure responsibilities does the bank have now?

  1. None are needed now.
  2. None, until after six months of the month-to-month lease
  3. The bank must make an entirely new initial disclosure
  4. The bank must disclose the estimated residual value at the end of six months

Answer(s): B






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