Certified Regulatory Compliance Manager (CRCM) — Question 66

Under content of disclosures long term disclosures may include the following, as applicable EXCLUDING:

Answer options

• A. Notification that the product is optional
• B. Explanation of debt-suspension agreement
• C. Lump-sum payment of fee with no refund
• D. Refund of fee paid in lump sum

Correct answer: D

Explanation

The correct answer is D because a refund of a fee is typically not included in long-term disclosures, as it implies a return of funds which is not a standard disclosure requirement. Options A, B, and C are all relevant disclosures that can be included in long-term agreements.