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A person acting as both a CFL finance lender and broker must:

Correct Answer

A) Hold separate licenses for each activity

The CFL requires separate licenses for finance lending and finance brokering activities. A person or entity engaging in both must hold both licenses.

Answer Options
A
Hold separate licenses for each activity
B
Hold only one combined license
C
Choose one activity and abandon the other
D
Obtain a CRMLA license instead

Why This Is the Correct Answer

The CFL requires separate licenses for finance lending and finance brokering activities. A person or entity engaging in both must hold both licenses.

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