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AFIP CERTIFICATION EXAM | 119 QUESTIONS | WITH SOLVED ANSWERS 100% CORRECT!! $18.99   Add to cart

Exam (elaborations)

AFIP CERTIFICATION EXAM | 119 QUESTIONS | WITH SOLVED ANSWERS 100% CORRECT!!

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AFIP CERTIFICATION EXAM | 119 QUESTIONS | WITH SOLVED ANSWERS 100% CORRECT!!

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  • September 15, 2024
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  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • AFIP
  • AFIP
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EvaTee
AFIP CERTIFICATION
EXAM | 119
QUESTIONS | WITH
SOLVED ANSWERS
100% CORRECT!!
AFIP
Evatee 9/15/24 AFIP

,AFIP CERTIFICATION EXAM | 119 QUESTIONS
| WITH SOLVED ANSWERS 100% CORRECT!!


FTC fine amount Answer - $46,517


UDAP Answer - Unfair and Deceptive Acts and Practices


3 elements of a contract Answer - offer, acceptance, consideration


2 ways to protect the finance source (involving insurance) Answer - Force-
place insurance, Accelerate the balance


Force-place insurance Answer - Coverage premium is forced into the car
payment


Accelerate the balance Answer - Make the full loan amount due & payable


Right of Recission Answer - ability for someone to terminate a contract
("cooling off")


In a RISA who owns the vehicle? Answer - The customer


On a leased vehicle who owns the vehicle? Answer - The lessor


Security Interest Answer - A creditor's right to use collateral to recover a debt.

, Reg Z on TILA requires what 6 disclosures Answer - 1) APR
2) Finance Charge
3) Amount Financed
4) Total Payments
5) Total Sales Price
6) Payment Schedule


Total Sales Price on RISA includes... Answer - 1) Total number of cash
payments
2) Cash Down
3) Net trade-in


TILA stands for __________, and the Reg associated with it is Reg _____
Answer - Truth in Lending Act; Reg Z


When referring to the TILA box on the contract, what information is disclosed
for Payments? Answer - The # of payments, the amount of each payment, and
the due date


Disclosing the Contract - state specific - at the time of consummation, the
contract is between these 2 parties: Answer - Customer & selling dealer


Deferred Down Payment - when dealing with a Hold Check, these 4 things must
be followed: Answer - - payment must be processed before the 2nd scheduled
monthly payment
- amount cannot be included in Amt. Financed
- not subjected to a finance charge

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