Card 3 / 45: Most timeshares units are sold on credit.These lending arrangements must comply with Regulation Z of the Federal Reserve Board . The PRIMARY purpose of Regulation Z, as applied to timeshare sales. is to assure which of the following?
A)
Requirement that lending be done without regard to race , color , or national origin.
B)
Anyone declined of credit is informed of the reasons for being turned down.
C)
A 3 day cooling-off period known as the "rescission period"
D)
Full disclosure of all financing costs and charges.
Answer:
D) Full disclosure of all financing costs and charges.
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