Certified Regulatory Compliance Manager (CRCM) — Question 104

What insurance disclosures are required in the lease disclosure statement?

Answer options

• A. The types and amounts of coverage provided by the lessor and the cost to the lessee
• B. The types, amounts, and estimated costs of recommended coverage even if not provided or paid by the lessor
• C. The cost to the lessee NOTES
• D. No insurance disclosures are required

Correct answer: A

Explanation

Option A is correct because it specifies the necessary insurance coverage details provided by the lessor and the associated costs for the lessee. Option B includes information about recommended coverage that may not be provided, which is not a requirement. Option C is incomplete as it only mentions costs without coverage details, and Option D is incorrect since disclosures are indeed required.