Sierra Pacific's Advertising Policy Quiz! Trivia

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Patrick Payne
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Sierra Pacifics Advertising Policy Quiz! Trivia - Quiz


Do you know anything about Sierra Pacific’s advertising policy? Would you be interested in taking this quiz? Sierra Pacific Industries is the second-largest lumber produced in the United States, located in Anderson, California, and sells wood products. One of the leading suppliers of logs and timber in North America, it manages 1.9 billion acres of land. If you want to learn more about Sierra Pacific Advertising Policy, this quiz may be helpful.


Questions and Answers
  • 1. 

    All advertising must be approved by the Compliance Department prior to publication?

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    Not only must we approve the content, but we are required to keep copies of all advertising.

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  • 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

    Correct Answer(s)
    A. Messages in Newspapers, magazines, catalogs
    B. Radio, video or public address announcements
    D. Online messages
    E. Brochures, leaflets, fliers, handouts, posters
    Explanation
    "Advertising" includes various forms of communication used to promote a product or service. This can include messages in newspapers, magazines, catalogs, as well as radio, video, or public address announcements. Online messages, such as advertisements on websites or social media platforms, are also considered advertising. Additionally, brochures, leaflets, fliers, handouts, and posters are common forms of advertising materials. However, personal contacts with a consumer and communication about an existing account may not be considered traditional forms of advertising, as they are more focused on customer service or account management.

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  • 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

    Correct Answer
    B. False
    Explanation
    Ads intended for realtors or other mortgage professionals need not compy with TILA, but must have a "professionals only" disclosure on the bottom of the communication.

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  • 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

    Correct Answer(s)
    A. Misrepresentations about government endorsements
    B. Implying association with the current lender
    D. Misleading claims of debt reduction or elimination
    E. Not fully describing the fixed or variable features of a loan
  • 5. 

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

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    The exact same wording must be used in the English version and it must be on the same ad. For example, a flier may be produced in Spanish on one side, with the exact English translation on the reverse side.

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  • 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

    Correct Answer
    B. All "Triggering Terms" under TILA must be stated
    Explanation
    The interest rate/APR by themselves are not triggering terms under TILA.

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  • 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

    Correct Answer(s)
    B. Down payment percentage or amount (credit sales)
    C. Number of payments or period of repayment
    D. Payment amount
    E. Finance charge amount
    Explanation
    The four choices that are considered "trigger terms" under TILA are: Down payment percentage or amount (credit sales), Number of payments or period of repayment, Payment amount, and Finance charge amount. These terms are considered triggers because they are key factors that can affect the cost and terms of a loan or credit agreement. Lenders are required to disclose these terms to borrowers under the Truth in Lending Act (TILA) to ensure transparency and protect consumers.

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  • 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

    Correct Answer(s)
    A. Full company name, including dba's
    B. Company and Individual NMLS number
    C. Equal Housing Lender Logo
    E. State license(s) information
    Explanation
    In order to comply with advertising regulations, all advertisements must include the full company name, including any doing business as (dba) names. Additionally, both the company and individual NMLS numbers must be provided to ensure transparency and regulatory compliance. The Equal Housing Lender Logo is required to indicate that the company is committed to fair housing practices. Including a picture of the loan officer helps to establish a personal connection with potential customers. Lastly, state license(s) information must be included to demonstrate that the company is authorized to operate in the respective state(s).

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  • 9. 

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

    • A.

      True

    • B.

      False

    Correct Answer
    B. False
    Explanation
    Most disclaimers of a term should be placed near the term itself.

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  • 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

    Correct Answer(s)
    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
    Explanation
    Advertisers should be extremely careful in advertising through social media outlets because there may be too few characters or space available for all required disclosures. This means that advertisers may not have enough room to include all necessary information about their products or services, potentially leading to misleading or incomplete advertisements. Additionally, advertisers may be on the Do Not Call list, which means they are prohibited from making unsolicited calls or messages to certain individuals. Mixing personal and business messages on social media can also be tricky, as it may blur the lines between personal and professional relationships. Finally, privacy issues may arise when advertising on social media, as personal information may be shared or accessed without consent.

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  • Current Version
  • Mar 19, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Jul 19, 2013
    Quiz Created by
    Patrick Payne
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