AFIP Certification Exam | Latest Questions And Verified Answers 2025/2026

AFIP Certification Exam | Latest Questions And Verified Answers 2025/2026 (True/False): Ignorance of the law will shield you from liability if you are noncompliant. - Correct Answer False (True/False): As an F&I manager working directly with customers, you are individually responsible for your actions and what you say to each customer. - Correct Answer True In a typical credit transaction the (bank)/(dealer) is the creditor. - Correct Answer The dealer is the creditor What is a contract? - Correct Answer A contract is an agreement involving a promise or set of promises that the law enforces or protects. The formation of a contract requires three elements: - Correct Answer 1. Offer 2. Acceptance 3. Consideration An offer consists of three elements: - Correct Answer 1. An expression of a promise or commitment (intent) to enter a contract 2. An expression of definite and certain terms 3. The communication of the offer to the offeree (in this case, the customer) An offer may be terminated by: - Correct Answer 1. An act of the parties 2. The operation of law There are three criteria for the acceptance of an offer: - Correct Answer 1. The offer is accepted by one who is entitled to accept