Đạo đứcCâu 310 / 400
An ad promotes a '2.99% mortgage' in large print, but that rate is available to almost no one and is not honored when consumers apply. This is a classic example of:
a.Bait-and-switch advertising
b.A permissible teaser disclosure
c.A required government rate cap
d.A legitimate rate lock
Giải thích
Advertising an attractive rate that is not genuinely available to lure applicants, then switching them to worse terms, is bait-and-switch, prohibited as a deceptive practice. It is not a permissible disclosure, no government rate cap is involved, and a rate lock is an honored commitment, not a lure.
Trích dẫn luật: Mortgage Acts and Practices / Regulation NLuyện miễn phí toàn bộ 400 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- A loan officer directs a well-qualified borrower into a higher-rate loan solely because it pays the officer a larger commission. This prohibited practice is known as:
- On a single transaction, a loan originator generally may receive compensation from:
- The Mortgage Acts and Practices Advertising Rule (Regulation N) primarily prohibits:
- Which of the following mortgage advertising claims is most likely to be a prohibited misrepresentation under Regulation N?
- Repeatedly refinancing a borrower's loan primarily to generate new fees, with little or no net benefit to the borrower, is a predatory practice known as:
- Which of the following is most characteristic of predatory lending?
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