GAP
GAP can be considered either a debt waiver or an insurance product, depending on the laws in your state. A GAP product covers the difference, or “GAP,” between a car’s loan or lease balance and the actual cash value paid by its primary insurer in the case of total loss or unrecovered theft. In this lesson, you will learn the impact of negative equity on GAP programs, common limitations of GAP products, properly disclosing GAP limits, and other important issues to consider when selling GAP products.
Topics
Negative Equity
Limitations
Limitation Example
Disclosures
Discrimination and Fraud
Know What You Are Selling
Features
Deployable online with Mosaic's LMS
Track and retain employee completions
SCORM Compliant version available
Text summary
English closed captions
Lesson Stats
Video Length
7:52
Units
6
Quiz Questions
6
Estimated Time
to Complete