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  • Truth in Lending Portfolio Requirement

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    The document provides instructions for a portfolio assignment on the Truth in Lending Act. Students are asked to answer 9 questions in a separate handwritten response paper regarding the purpose of the Truth in Lending Act, objectives of transparent pricing, definitions of key terms like credit and finance charge, obligations of creditors, required disclosures, covered and excluded transactions, and consequences of non-compliance. Responses are due January 30th at 5:30 PM and late submissions will not be given any merit.

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    The document provides instructions for a portfolio assignment on the Truth in Lending Act. Students are asked to answer 9 questions in a separate handwritten response paper regarding the purpose of the Truth in Lending Act, objectives of transparent pricing, definitions of key terms like credit and finance charge, obligations of creditors, required disclosures, covered and excluded transactions, and consequences of non-compliance. Responses are due January 30th at 5:30 PM and late submissions will not be given any merit.

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    © All Rights Reserved
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    14 views1 page

    Truth in Lending Portfolio Requirement

    Uploaded by

    RyD
    The document provides instructions for a portfolio assignment on the Truth in Lending Act. Students are asked to answer 9 questions in a separate handwritten response paper regarding the purpose of the Truth in Lending Act, objectives of transparent pricing, definitions of key terms like credit and finance charge, obligations of creditors, required disclosures, covered and excluded transactions, and consequences of non-compliance. Responses are due January 30th at 5:30 PM and late submissions will not be given any merit.

    Copyright:

    © All Rights Reserved
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    ACCOUNTANCY DEPARTMENT

    -----------------------------------------------------------------------------------------------------------------------------------

    Truth in Lending Act (Republic Act 3765)

    Deadline: January 30, 2023 at 5:30 PM


    Late submissions will not be given any merit.

    Instructions:
    a. Print a copy of this page in a long bond paper.
    b. In a separate long bond paper, write (handwritten) your answers to the questions provided.
    c. Answer in a brief and concise manner.

    1. What is the purpose of the Truth in Lending Act? 5 pts.


    2. Under BSP Circular No.755 Series of 2012, what is the objective of transparent pricing? 5 pts.
    3. What is credit? 5 pts.
    4. What is finance charge? 5 pts.
    5. Who is a creditor? 5 pts.
    6. What is the obligation of creditors to persons to whom credit is extended? 10 pts.
    7. Under BSP Circular No.755 Series of 2012, what are the required information that needs to be disclosed? 5
    pts.
    8. What are the covered and excluded transactions? 5 pts.
    9. What are the consequences of non-compliance with the obligation? 5 pts.

    Portfolio 03 Truth in Lending Act

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