Question

What are prohibited misrepresentations of loan terms.

a) Advertising lower interest rates than offered
b) Advertising potential future interest rates
c) Advertising the total cost of the loan
d) Advertising the lender's contact information

Answer 1

Prohibited misrepresentations of loan terms include advertising lower interest rates, potential future interest rates, and the total cost of the loan.

Step-by-step explanation:

The prohibited misrepresentations of loan terms include:

1. Advertising lower interest rates than offered
2. Advertising potential future interest rates
3. Advertising the total cost of the loan