AFIP Certification EXAM 2025/2026 ACTUAL COMPLETE REAL
EXAM QUESTIONS AND CORRECT ANSWERS ( VERIFIED
ANSWERS) ALREADY GRADED A+ / BRAND NEW / JUST
RELEASED!!
What is always the largest number on an installment sale
agreement? -
ANSWER-The total sale
price
What does "force-placed" or "creditor-placed" mean? -
ANSWER-Allows the
creditor to force place insurance - that is, buy physical
damage insurance to
cover the creditor's interest in the vehicle or the creditor's
and the buyer's
interest in the vehicle if the buyer fails
to do so.
(True/False) Installment sale agreements notify the customer of
the state's laws
,regarding repossession and how (if applicable) the customer
can redeem the
vehicle or reinstate the contract. -
ANSWER-True
How are installment sale contracts regulated? - ANSWER-By
federal and state
law
Which types of practices does the Federal Trade Commission
Act address as it
relates to advertising? - ANSWER-Unfair and
Deceptive
If a dealership runs a monthly payment ad in which the payment
and terms only
apply to one or two of the vehicles offered for sale (and that is
not specifically
stated in the ad), it is running a _______ ad. - ANSWER-
Bait-and-Switch
If a dealership hires an agency that runs advertisements on the
dealer's behalf and those ads are later determined to be in
violation of either state or federal
,advertising laws, who may be held liable? - ANSWER-Both the
dealer and the
agency
What truth-in-advertising rules apply to advertisers? -
ANSWER--Advertising must be truthful and non-deceptive
-Advertisers must have evidence to back up their claims
-Advertisements cannot be unfair
What makes an advertisement deceptive? - ANSWER-If an ad
contains a statement - or omits information - that:
-Is likely to mislead consumers acting reasonably under the
circumstances -Is "material" - that is, important to a
consumer's decision to buy or use the product
What makes an advertisement unfair? - ANSWER-An ad or
business practice is
unfair
if:
-It causes or is likely to cause substantial consumer injury
which a consumer
could not reasonably
avoid
-It is not outweighed by the benefit to
consumers
, What penalties can be imposed against a company that runs a
false or deceptive ad? - ANSWER--Cease and desist orders;
and to pay a fine of $16,000 per day per ad if the company
violates the law in the future.
-Civil penalties, consumer redress and other monetary remedies
-Corrective advertising, disclosures and other informational
remedies.
Lanham Act - ANSWER-Gives companies the right to sue their
competitors for
making deceptive claims
in ads.
Bait and Switch - ANSWER-Advertising a product when the
company has no intention of selling that item, but instead plans
to sell a consumer something else, usually at a higher price.
What are the rules on advertising rebates to consumers? -
ANSWER-Ads that
include rebate promotions should prominently state the
before-rebate cost, as
EXAM QUESTIONS AND CORRECT ANSWERS ( VERIFIED
ANSWERS) ALREADY GRADED A+ / BRAND NEW / JUST
RELEASED!!
What is always the largest number on an installment sale
agreement? -
ANSWER-The total sale
price
What does "force-placed" or "creditor-placed" mean? -
ANSWER-Allows the
creditor to force place insurance - that is, buy physical
damage insurance to
cover the creditor's interest in the vehicle or the creditor's
and the buyer's
interest in the vehicle if the buyer fails
to do so.
(True/False) Installment sale agreements notify the customer of
the state's laws
,regarding repossession and how (if applicable) the customer
can redeem the
vehicle or reinstate the contract. -
ANSWER-True
How are installment sale contracts regulated? - ANSWER-By
federal and state
law
Which types of practices does the Federal Trade Commission
Act address as it
relates to advertising? - ANSWER-Unfair and
Deceptive
If a dealership runs a monthly payment ad in which the payment
and terms only
apply to one or two of the vehicles offered for sale (and that is
not specifically
stated in the ad), it is running a _______ ad. - ANSWER-
Bait-and-Switch
If a dealership hires an agency that runs advertisements on the
dealer's behalf and those ads are later determined to be in
violation of either state or federal
,advertising laws, who may be held liable? - ANSWER-Both the
dealer and the
agency
What truth-in-advertising rules apply to advertisers? -
ANSWER--Advertising must be truthful and non-deceptive
-Advertisers must have evidence to back up their claims
-Advertisements cannot be unfair
What makes an advertisement deceptive? - ANSWER-If an ad
contains a statement - or omits information - that:
-Is likely to mislead consumers acting reasonably under the
circumstances -Is "material" - that is, important to a
consumer's decision to buy or use the product
What makes an advertisement unfair? - ANSWER-An ad or
business practice is
unfair
if:
-It causes or is likely to cause substantial consumer injury
which a consumer
could not reasonably
avoid
-It is not outweighed by the benefit to
consumers
, What penalties can be imposed against a company that runs a
false or deceptive ad? - ANSWER--Cease and desist orders;
and to pay a fine of $16,000 per day per ad if the company
violates the law in the future.
-Civil penalties, consumer redress and other monetary remedies
-Corrective advertising, disclosures and other informational
remedies.
Lanham Act - ANSWER-Gives companies the right to sue their
competitors for
making deceptive claims
in ads.
Bait and Switch - ANSWER-Advertising a product when the
company has no intention of selling that item, but instead plans
to sell a consumer something else, usually at a higher price.
What are the rules on advertising rebates to consumers? -
ANSWER-Ads that
include rebate promotions should prominently state the
before-rebate cost, as
