AFIP BASIC CERTIFICATION COURSE
PRACTICE QUESTIONS AND RATIONALE GUIDE
2026
◉ 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?
PRACTICE QUESTIONS AND RATIONALE GUIDE
2026
◉ 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?
