OMVIC Practice Test

Question: 1 / 400

What must leasing agreements disclose according to the CPA?

Only the monthly payment amount

Lease value, monthly payment details, annual percentage rate, and more

Leasing agreements must disclose all details that pertain to the lease, including the lease value, monthly payment details, annual percentage rate, and any additional fees or charges. Option A is incorrect because it only mentions the monthly payment amount, which is just one aspect of the lease. Option C is incorrect because it only mentions the vehicle make and model, which is also just one aspect of the lease. Option D is incorrect because it mentions the dealer's preferred insurance provider, which is not necessarily required to be disclosed in the lease agreement. Overall, B is the most comprehensive and complete option that encompasses all necessary disclosures according to the CPA.

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Only the vehicle make and model

The dealer's preferred insurance provider

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