Question

question 23 (1 point)
what was the primary purpose of disclosure requirements?
a to increase penalty fees
b to confuse consumers
c to inform consumers about the true cost of credit
d to eliminate universal default policies

question 24 (1 point)
what event exposed the risks of excessive consumer debt?
a the dot - com bubble
b the 2008 financial crisis
c the great depression
d the housing market crash of 2006

Explanation:

For Question 23: Disclosure requirements in financial contexts aim to provide clear, accurate information to consumers, particularly about credit costs (e.g., interest rates, fees) to enable informed decisions.
For Question 24: The 2008 financial crisis was linked to high consumer debt (e.g., subprime mortgages) and exposed systemic risks of excessive borrowing, unlike the dot-com bubble (tech stocks), Great Depression (broader economic collapse), or 2006 housing crash (a precursor to 2008).

Answer:

c. To inform consumers about the true cost of credit
b. The 2008 financial crisis