California Real Estate Exam 2025 - Collection 5 - Question 129

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California Real Estate Exam 2025
Collection 5
Question 129: According to the Truth in Lending Act (TILA), it is not necessary to disclose the finance charges for a loan involving:
A. One business buying up the inventory of its failing competitor.
B. Re-modeling a living room.
C. Buying grain to plant crops.
D. Both A & C.
Correct answer is D. Both A & C.
The Truth in Lending Act (TILA) primarily applies to consumer credit transactions. It's designed to protect individuals in personal, family, or household credit situations. It generally does not apply to business or agricultural credit. Re-modeling a living room is a consumer transaction for a personal residence, so TILA would require disclosure of finance charges.

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