Climb Benefits Quiz

What is the maximum duration for the Interest Only Forbearance benefit?

• 12 months

• 3 months

• 9 months

• 6 months

What is the maximum duration for the $50 Low-Pay Forbearance benefit?

• 3 months

• 9 months

• 6 months

• 12 months

When should borrowers make the first payment for the Interest Only Forbearance benefit?

• After 9 months

• After 3 months

• After 6 months

• At the time of the request

When should borrowers make the first payment for the $50 Low-Pay Forbearance benefit?

• At the time of the request

• After 9 months

• After 6 months

• After 3 months

What should be noted on the account for Interest Only Forbearance?

• Daily Interest amount in Connect

• Interest rate of the loan

• Amount calculated for the borrower

• Payment due date

What should be noted on the account for $50 Low-Pay Forbearance?

• Daily Interest amount in Connect

• $50 payment made by the borrower

• Interest rate of the loan

• Payment due date

When can the benefit workflow be created?

• When the interest is calculated

• When the first payment is made

• When the account is enrolled in forbearance

• When the initial payment has been made and the completed form has been sent by borrower

When do we refer borrowers to Loan Science?

• Loan is past due

• Loan is 31-120 days past due

• Loan is 30-120 days past due

• Loan is accelerated

Can benefits be offered on accelerated accounts?

• Yes, always

• Only if the borrower makes the first payment

• No, never

• Only if the account has not been sent to collections

What should be done with write-off/charge-off loans?

• Take monthly payments

• Offer benefits

• Sell them to Island Portfolio Services

• Check bond