AFIP - Live Review: Questions With Complete
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Practice questions for this set
Learn 1 /7 Study with Learn
UDAAP; unfair, deceptive, or abusive acts or practices
Choose an answer
used car dealers deal with _______
1 2 Franchises are regulated by the ______
claims, which stands for _____________
3 cost of credit is know as ____ 4 contract (definition)
Don't know?
Terms in this set (51)
Franchises are regulated FTC
by the ______
, Independents/Buy-Here CFPB
Pay-Here are regulated by
the _________
max penalty $53,088
FTC issues _______ claims, UDAP; unfair or deceptive acts or practices
which stands for _________
used car dealers deal with UDAAP; unfair, deceptive, or abusive acts or practices
_______ claims, which stands
for _____________
a promise or set of promises between 2 parties that
contract (definition)
can be enforced by law
Any goods $_____ or more 500
must be in writing
Elements of a contract offer, acceptance, consideraion
Offer (definition) exchange of promises
Acceptance (definition) agreements to terms (must mirror the offer)
Consideration (definition) something of value exchanged
- credit sale
- sells on installments
Credit Sale v Loan:
- RISC is between customer + dealer
Dealer-Assisted Financing
- dealer asseses a finance charge
- dealer assigns to finance source
Credit Sale v Loan: - loan
Customer-Arranged - customer goes to a bank or credit union
Financing - customer gets a loan + signs a promissary note
cost of credit is know as APR
____
what kind of insurance is comp & collision
required?
Solutions
Save
Practice questions for this set
Learn 1 /7 Study with Learn
UDAAP; unfair, deceptive, or abusive acts or practices
Choose an answer
used car dealers deal with _______
1 2 Franchises are regulated by the ______
claims, which stands for _____________
3 cost of credit is know as ____ 4 contract (definition)
Don't know?
Terms in this set (51)
Franchises are regulated FTC
by the ______
, Independents/Buy-Here CFPB
Pay-Here are regulated by
the _________
max penalty $53,088
FTC issues _______ claims, UDAP; unfair or deceptive acts or practices
which stands for _________
used car dealers deal with UDAAP; unfair, deceptive, or abusive acts or practices
_______ claims, which stands
for _____________
a promise or set of promises between 2 parties that
contract (definition)
can be enforced by law
Any goods $_____ or more 500
must be in writing
Elements of a contract offer, acceptance, consideraion
Offer (definition) exchange of promises
Acceptance (definition) agreements to terms (must mirror the offer)
Consideration (definition) something of value exchanged
- credit sale
- sells on installments
Credit Sale v Loan:
- RISC is between customer + dealer
Dealer-Assisted Financing
- dealer asseses a finance charge
- dealer assigns to finance source
Credit Sale v Loan: - loan
Customer-Arranged - customer goes to a bank or credit union
Financing - customer gets a loan + signs a promissary note
cost of credit is know as APR
____
what kind of insurance is comp & collision
required?
