Question: Which of the following statements concerning the Business Practices and Consumer Protection Act (BPCPA) is FALSE? Group of answer choices Mortgage lenders and brokers must disclose the Annual Percentage Rate (APR) to the borrower. The Annual Percentage Rate (APR) represents the borrower's contractual interest rate plus any non-interest finance charges. A disclosure statement must be given to a borrower six days prior to the borrower incurring an obligation under a credit agreement, unless the time period is waived by the borrower. To provide borrowers with some help in determining the actual cost of borrowing, most provincial governments in Canada have legislated that certain disclosure requirements must be met for specific types of mortgages.