AFIP Federal Exam Part 1
Federal Trade Commission - Answer-What does FTC stand for?
Franchise New - Answer-What does the FTC manage?
Consumer Financial Protection Bureau - Answer-What does CFPB stand for?
Independent Used, buy here pay here, finance sources - Answer-What does CFPB manage?
$51,744 - Answer-FTC 2024 fine for violations
Unfair Deceptive Acts or Practices - Answer-What does UDAP stand for?
Unfair Deceptive Abusive Acts or Practices - Answer-What does UDAAP stand for?
FTC - Answer-What department is UDAP typically charged by?
CFPB - Answer-What department is UDAAP typically charged by?
, treating customer unethically or providing false or misleading info - Answer-How to get hit with
UDAP/UDAAP?
signed by the customer - Answer-You cannot enforce a contract unless it's been
______________________.
offer acceptance consideration - Answer-3 elements of a contract
something of value has to be exchanged - Answer-What makes a consideration in a contract?
comprehensive and collision - Answer-2 types of insurance to protect against loss?
comprehensive - Answer-Which insurance protects against acts of god, such as hail, weather, etc.?
collision - Answer-Which insurance pays for damages in crashes?
forceplace insurance - Answer-What is it called when the bank adds a premium to the payment in case
of a lack of insurance?
accelerate balance - Answer-What is it called when the bank calls for the balance to be due because of
lack of insurance from customer?
forceplace insurance and accelerate balance - Answer-2 ways to protect ourselves or bank when it
comes to insurance on a vehicle?
right of recission - Answer-What is the ability to get out of a contract?
Federal Trade Commission - Answer-What does FTC stand for?
Franchise New - Answer-What does the FTC manage?
Consumer Financial Protection Bureau - Answer-What does CFPB stand for?
Independent Used, buy here pay here, finance sources - Answer-What does CFPB manage?
$51,744 - Answer-FTC 2024 fine for violations
Unfair Deceptive Acts or Practices - Answer-What does UDAP stand for?
Unfair Deceptive Abusive Acts or Practices - Answer-What does UDAAP stand for?
FTC - Answer-What department is UDAP typically charged by?
CFPB - Answer-What department is UDAAP typically charged by?
, treating customer unethically or providing false or misleading info - Answer-How to get hit with
UDAP/UDAAP?
signed by the customer - Answer-You cannot enforce a contract unless it's been
______________________.
offer acceptance consideration - Answer-3 elements of a contract
something of value has to be exchanged - Answer-What makes a consideration in a contract?
comprehensive and collision - Answer-2 types of insurance to protect against loss?
comprehensive - Answer-Which insurance protects against acts of god, such as hail, weather, etc.?
collision - Answer-Which insurance pays for damages in crashes?
forceplace insurance - Answer-What is it called when the bank adds a premium to the payment in case
of a lack of insurance?
accelerate balance - Answer-What is it called when the bank calls for the balance to be due because of
lack of insurance from customer?
forceplace insurance and accelerate balance - Answer-2 ways to protect ourselves or bank when it
comes to insurance on a vehicle?
right of recission - Answer-What is the ability to get out of a contract?
