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Truth in Lending Act & Regulation Z: Definition & Overview

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Which two pieces of information must lenders disclose to borrowers under the Truth in Lending Act?

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1. The text of Regulation Z can be found in which set of laws?

2. Which of the following is the general principle behind the Truth in Lending Act?

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About This Quiz & Worksheet

This worksheet and quiz are easy-to-use resources for assessing your knowledge of Regulation Z and the Truth in Lending Act. If you want to pass the quiz, make sure you know the principle of the Truth in Lending Act and what lenders are required to disclose to borrowers, among other topics.

Quiz & Worksheet Goals

These tools can help check your knowledge of:

  • Two pieces of information that lenders must disclose to borrowers under the Truth in Lending Act
  • Laws where Regulation Z can be found
  • The general principle behind the Truth in Lending Act
  • The annual percentage rate

Skills Practiced

  • Information recall - access the knowledge you've gained regarding the intent behind the Truth in Lending Act
  • Knowledge application - use your knowledge to answer a question about the set of laws in which Regulation Z can be found
  • Critical thinking - apply relevant concepts to examine information about borrowing in a different light

Additional Learning

To learn more about these acts and regulations, check out the lesson called Truth in Lending Act & Regulation Z: Definition & Overview. The lesson is effective at helping you cover the following topics as well:

  • Stipulations of the Truth in Lending Act
  • Purpose of Regulation Z
  • Meaning of APR
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