Sierra Pacific's Advertising Policy Quiz! Trivia

10 Questions | By Patrickpayne | Last updated: Dec 15, 2020 | Total Attempts: 937

Questions

Settings

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