Before closing, the team discovers that marketing proposes a rate the company is not prepared to offer. What is the safest compliant answer?
Correct Answer
B) Advertise only credit terms actually available
Lines 261-265 and 273-277; 12 CFR 1026.24(a). Specific advertised terms must be terms the creditor actually is or will be prepared to offer. Therefore, the correct response is "Advertise only credit terms actually available".
Why This Is the Correct Answer
Lines 261-265 and 273-277; 12 CFR 1026.24(a). Specific advertised terms must be terms the creditor actually is or will be prepared to offer. Therefore, the correct response is "Advertise only credit terms actually available".
More Ethics & Fraud Questions
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A training manager is reviewing a mortgage file during a state-law refresher. Which statement correctly handles advertising and consumer-protection controls?
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