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AFIP CERTIFICATION EXAM LATEST 2026-2027 ACTUAL EXAM WITH
COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS (100%
VERIFIED ANSWERS) |ALREADY GRADED A+| ||PROFESSOR
VERIFIED|| ||BRANDNEW!!!||
In order to qualify for credit disability coverage, the named insured
must work "full time," which is considered to be at least _______
hours per week. - ANSWER-30
(True/False) GAP insurance is a state-regulated product. Each
state has insurance laws that define or describe insurance and
set the rules for any party soliciting or insuring risks in that state.
Insurance laws vary dramatically among the fifty states. -
ANSWER-True
(True/False) Credit disability insurance often contains exclusions.
Common exclusions are: 1) Pre-existing conditions; 2) Normal
pregnancy or childbirth; 3) Intentional self-inflicted injury. -
ANSWER-True
The first beneficiary listed on the credit life certificate is _______.
- ANSWER-The Lienholder
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(True/False) Credit life and credit disability insurance are "single
premium" coverages - one payment is made up front for the entire
stated coverage term. The same premium is charged for all ages
and both sexes. What customers pay for the insurance will be the
same, regardless of the coverage term and the amount financed.
- ANSWER-False
(True/False) In case of the named insured's death, credit life
insurance coverage will pay off the RISC. Any additional proceeds
are paid to the second beneficiary or the insured's estate. -
ANSWER-True
(True/False) In order to qualify for the benefits of credit disability
coverage, the named insured must be totally disabled - unable to
pursue his or her full-time occupation. - ANSWER-True
What is the CFPB? - ANSWER-Consumer Financial Protection
Bureau
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Who is exempt from CFPB regulation? - ANSWER-Dealers with
vehicle servicing operations that sell their retail installment
contracts to unaffiliated parties will enjoy an exemption.
Can the State Attorneys General enforce Dodd-Frank? -
ANSWER-Yes
E-SIGN - ANSWER-Electronic Signatures in Global and National
Commerce Act
Are electronic signatures valid? - ANSWER-Yes
Are disclosures required in an electronic transaction? - ANSWER-
Yes, any information required to be disclosed by law in writing
may also be provided to the consumer electronically.
The agreements or disclosures that can be delivered or executed
electronically - ANSWER--Any information required to be
disclosed by law in writing may also be provided to the consumer
electronically.
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- The consumer must, however, consent to receive the
information electronically.
The Dodd-Frank Act created what enforcement agency? -
ANSWER-Consumer Financial Protection Bureau
(True/False) The Dodd-Frank Wall Street Reform Act eliminates
the need to comply with state laws. - ANSWER-False
The Dodd-Frank Act outlines the new bureau's functions, which
include _______. - ANSWER--To research, monitor and publish
information relative to the consumer product and service market
-To supervise covered persons for compliance
-To issue rules identifying unfair, deceptive or abusive acts or
practices
The Dodd-Frank Act amended the FCRA to require disclosure of
_______ in Adverse Action Notices. - ANSWER-Credit scores in
Adverse Action Notices
AFIP CERTIFICATION EXAM LATEST 2026-2027 ACTUAL EXAM WITH
COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS (100%
VERIFIED ANSWERS) |ALREADY GRADED A+| ||PROFESSOR
VERIFIED|| ||BRANDNEW!!!||
In order to qualify for credit disability coverage, the named insured
must work "full time," which is considered to be at least _______
hours per week. - ANSWER-30
(True/False) GAP insurance is a state-regulated product. Each
state has insurance laws that define or describe insurance and
set the rules for any party soliciting or insuring risks in that state.
Insurance laws vary dramatically among the fifty states. -
ANSWER-True
(True/False) Credit disability insurance often contains exclusions.
Common exclusions are: 1) Pre-existing conditions; 2) Normal
pregnancy or childbirth; 3) Intentional self-inflicted injury. -
ANSWER-True
The first beneficiary listed on the credit life certificate is _______.
- ANSWER-The Lienholder
,2|Page
(True/False) Credit life and credit disability insurance are "single
premium" coverages - one payment is made up front for the entire
stated coverage term. The same premium is charged for all ages
and both sexes. What customers pay for the insurance will be the
same, regardless of the coverage term and the amount financed.
- ANSWER-False
(True/False) In case of the named insured's death, credit life
insurance coverage will pay off the RISC. Any additional proceeds
are paid to the second beneficiary or the insured's estate. -
ANSWER-True
(True/False) In order to qualify for the benefits of credit disability
coverage, the named insured must be totally disabled - unable to
pursue his or her full-time occupation. - ANSWER-True
What is the CFPB? - ANSWER-Consumer Financial Protection
Bureau
,3|Page
Who is exempt from CFPB regulation? - ANSWER-Dealers with
vehicle servicing operations that sell their retail installment
contracts to unaffiliated parties will enjoy an exemption.
Can the State Attorneys General enforce Dodd-Frank? -
ANSWER-Yes
E-SIGN - ANSWER-Electronic Signatures in Global and National
Commerce Act
Are electronic signatures valid? - ANSWER-Yes
Are disclosures required in an electronic transaction? - ANSWER-
Yes, any information required to be disclosed by law in writing
may also be provided to the consumer electronically.
The agreements or disclosures that can be delivered or executed
electronically - ANSWER--Any information required to be
disclosed by law in writing may also be provided to the consumer
electronically.
, 4|Page
- The consumer must, however, consent to receive the
information electronically.
The Dodd-Frank Act created what enforcement agency? -
ANSWER-Consumer Financial Protection Bureau
(True/False) The Dodd-Frank Wall Street Reform Act eliminates
the need to comply with state laws. - ANSWER-False
The Dodd-Frank Act outlines the new bureau's functions, which
include _______. - ANSWER--To research, monitor and publish
information relative to the consumer product and service market
-To supervise covered persons for compliance
-To issue rules identifying unfair, deceptive or abusive acts or
practices
The Dodd-Frank Act amended the FCRA to require disclosure of
_______ in Adverse Action Notices. - ANSWER-Credit scores in
Adverse Action Notices
