Sierra Pacific's Advertising Policy Quiz! Trivia

10 Questions | Total Attempts: 930

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Advertising Quizzes & Trivia

Questions and Answers
  • 1. 
    All advertising must be approved by the Compliance Department prior to publication?
    • A. 

      True

    • B. 

      False

  • 2. 
    "Advertising" includes
    • A. 

      Messages in Newspapers, magazines, catalogs

    • B. 

      Radio, video or public address announcements

    • C. 

      Personal contacts with a consumer

    • D. 

      Online messages

    • E. 

      Brochures, leaflets, fliers, handouts, posters

    • F. 

      Communication about an existing account

  • 3. 
    Communications used for business purposes, such as rate sheets or fliers for brokers and realtors must be compliant with Regulation Z (Truth in Lending Act).
    • A. 

      True

    • B. 

      False

  • 4. 
    Misleading ads include:
    • A. 

      Misrepresentations about government endorsements

    • B. 

      Implying association with the current lender

    • C. 

      Disclosing the exact terms of the product

    • D. 

      Misleading claims of debt reduction or elimination

    • E. 

      Not fully describing the fixed or variable features of a loan

    • F. 

      Disclosing who is the source of the advertisement

  • 5. 
    Sierra Pacific allows advertisements in a language other than English, IF the ad is mirrored in English
    • A. 

      True

    • B. 

      False

  • 6. 
    If the interest rate is stated in the advertisement, which of the following rules need not  be applied? 
    • A. 

      The APR must be stated

    • B. 

      All "Triggering Terms" under TILA must be stated

    • C. 

      The APR must be in close proximity to the interest rate

    • D. 

      The APR must be of similar size and prominence

  • 7. 
    Which four of these choices are considered a "trigger term" under TILA?
    • A. 

      Loan Program

    • B. 

      Down payment percentage or amount (credit sales)

    • C. 

      Number of payments or period of repayment

    • D. 

      Payment amount

    • E. 

      Finance charge amount

  • 8. 
    Generally, all advertisements must contain the following:
    • A. 

      Full company name, including dba's

    • B. 

      Company and Individual NMLS number

    • C. 

      Equal Housing Lender Logo

    • D. 

      Picture of the Loan Officer

    • E. 

      State license(s) information

  • 9. 
    Disclaimers should be contained in the small print at the bottom of the advertisement.
    • A. 

      True

    • B. 

      False

  • 10. 
    Why should advertisers be extremely careful in advertising through social media outlets?
    • A. 

      There may be too few characters or space available for all required disclosures

    • B. 

      They may be on the Do Not Call list

    • C. 

      Mixing personal and business messages may be tricky

    • D. 

      Privacy issues may arise