American Bankers Association CRCM Exam - Topic 1 Question 116 Discussion

Actual exam question for American Bankers Association's CRCM exam

Question #: 116
Topic #: 1

[All CRCM Questions]

Content of segregated disclosures in Consumer Leasing Act include all of the following

EXCEPT:

AAmount due at lease signing or delivery, itemized by type and amount, including: efundable security deposit
Advance monthly or other periodic payment
Capitalized cost reduction
An itemization of how the amount due will be paid, by type and amount (only required in a motor vehicle lease), using the model form

BNumber, amount, and due date of payments scheduled and the total amount of periodic payments

CIn an open-end lease, the descriptive statement ''You will owe an additional amount if the actual value of the vehicle is less than the residual value''

DIf there are multiple items of property, the property description may be separate

Show Suggested Answer

Suggested Answer: D

by Oneida at Aug 14, 2025, 08:09 AM

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Jesusa

2 months ago

Totally agree, A is a must-have in those disclosures!

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Ruthann

2 months ago

Wait, are you sure about D? That doesn't sound familiar.

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Ailene

2 months ago

C sounds right, but D seems off to me.

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Adela

2 months ago

I think B is also required, right?

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Vincenza

3 months ago

A is definitely included in the disclosures.

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Rhea

3 months ago

I feel like the separate property description might not be necessary for all leases, but I can't remember the exact rules on that.

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Marilynn

3 months ago

The part about the open-end lease sounds familiar, but I can't recall if it's specifically mentioned in the segregated disclosures.

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Donte

4 months ago

I remember practicing a question about the number and amount of payments, and I think that one is definitely included in the disclosures.

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Judy

4 months ago

I think the disclosures for the amount due at lease signing are pretty detailed, but I'm not sure if all of them are required for every lease type.

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Myra

4 months ago

I'm a bit unsure about this one. The wording is a bit tricky, asking for the EXCEPTION rather than the requirements. I'll need to double-check my understanding of the Act to make sure I don't miss anything.

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Xochitl

4 months ago

This question is testing our knowledge of the specific disclosure requirements. I'll need to rely on my understanding of the Act to eliminate the choices that are required and select the one that is not.

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Lindsay

4 months ago

Okay, let me think this through. The key is to identify the one item that is not required to be disclosed under the Consumer Leasing Act. I'll read through the choices and try to spot the odd one out.

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Nakisha

4 months ago

Hmm, I'm a little unsure about this one. The question is asking what is NOT required, so I'll need to carefully review each option to determine which one doesn't belong.

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