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MICHIGAN STATE AFIP EXAM LATEST QUIZZES & ANS!!
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MICHIGAN STATE AFIP EXAM LATEST QUIZZES & ANS!!
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MICHIGAN STATEAFIP EXAM
LATEST QUIZZES
& ANS!!
Evatee 9/15/24 AFIP
, MICHIGAN STATE AFIP EXAM LATEST QUIZZES
& ANS!!
Installment sale and consumer lease agreements must be available in English.
Answer - True
Before taking any collection against the _____ the creditor has to send the
____, by first class mail, a notice indigating the primary obligor has become
delinquient and the _____ is responsible for payment obligation. Answer -
cosigner
When it comes to document prep fees they are permitted if charged for both
cash and credit sales. They cannot exceed _______ Answer - 5% of cash price
or $220, whichever is less.
The state of MI imposes installment sales contract it has to include the
following: Answer - 1. Do not sign this contract if it's blank
2. You are entitled to a true copy of the contract you signed without charge.
3. Warning: The insurance hereunder does not cover liability to persons or
damage to property unless indicated heron
The seller or sellers agent is required to sign the contract at the time the buyer
signs it Answer - True
The seller or sellers agent MUST give the buyer a copy of the executed contract
at the time the contract is executed. Answer - True
The maximum finance charge is ___ for all vehicles. Answer - 25%
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