Which of the following statements is true regarding the lessee's ability to purchase the leased property?

The lessor must allow the lessee to purchase the leased property either during the lease term or at the end of the term.
If the lessor allows the lessee to purchase the property at the end of the lease term, the lessor may not charge more than the equivalent of 12 monthly payments for the property.
If the lessor allows the lessee to purchase the property at the end of the lease term, the purchase price must be disclosed in the initial disclosure statement.
The purchase price of the leased property must be mutually agreed on by the lessor and the lessee.

Answer(s): C

Which of the following statements is true regarding the lessee's ability to purchase the leased property?

The lessor must allow the lessee to purchase the leased property either during the lease term or at the end of the term.
If the lessor allows the lessee to purchase the property at the end of the lease term, the lessor may not charge more than the equivalent of 12 monthly payments for the property.
If the lessor allows the lessee to purchase the property at the end of the lease term, the purchase price must be disclosed in the initial disclosure statement.
The purchase price of the leased property must be mutually agreed on by the lessor and the lessee.

Answer(s): C

Which of the following statements is true regarding the lessee's ability to purchase the leased property?

The lessor must allow the lessee to purchase the leased property either during the lease term or at the end of the term.
If the lessor allows the lessee to purchase the property at the end of the lease term, the lessor may not charge more than the equivalent of 12 monthly payments for the property.
If the lessor allows the lessee to purchase the property at the end of the lease term, the purchase price must be disclosed in the initial disclosure statement.
The purchase price of the leased property must be mutually agreed on by the lessor and the lessee.

Answer(s): C

With regard to standards for wear and use of leased property, which of the following statements is true?

A lessor must adhere to the manufacturer's standards for wear and use of the leased property.
A lessor must develop and disclose its own standards for wear and use of leased property.
A lessor must provide a notice of wear and use standards on motor vehicle leases.
A lessor need not provide a notice of wear and use standards on motor vehicle leases if the lessor imposes an automatic, standardized charge.

Answer(s): C

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