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A state exam practice item asks about Georgia advertising and consumer-protection controls. Which choice states the rule correctly?

Correct Answer

B) The Georgia Fair Lending Act defines a high-cost home loan as a home loan whose terms meet or exceed one or more statutory threshold triggers.

The Georgia Fair Lending Act defines a high-cost home loan as a home loan whose terms meet or exceed one or more statutory threshold triggers.

Answer Options
A
Assume another state's approval automatically satisfies the Georgia requirement.
B
The Georgia Fair Lending Act defines a high-cost home loan as a home loan whose terms meet or exceed one or more statutory threshold triggers.
C
Apply the Georgia rule only to company licenses and never to individual MLO activity.
D
Handle advertising and consumer-protection controls with an informal note rather than the required license, disclosure, filing, or record.

Why This Is the Correct Answer

The Georgia Fair Lending Act defines a high-cost home loan as a home loan whose terms meet or exceed one or more statutory threshold triggers.

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