Loans Operations Activity

1.       What is the maximum loan term for an acquisition / construction loan?

• 10 years

• 15 years

• 20 years

• 25 years

2.       For home loans, minimum loan amount is P500,000 and maximum is ___________.

• P10,000,000.00

• P25,000,000.00

• P30,000,000.00

• P50,000,000.00

3.       Collateral TCTs which were transferred/acquired via inheritance will usually have this lien/encumbrance.

• Free patent

• Sec 7 RA 26

• Sec 4 Rule 74

• Miscellaneous patent

4.       What is/are acceptable income document/s for locally employed borrowers with loan amounts above P3MM.

• Payslip

• Bank statements

• ITR

• All of the above

5.       This is a document that allows an individual to authorize another individual to make legal decisions on their behalf

• Authorization Letter

• Special Power of Attorney

• Affidavit of Authority

• Letter of Instruction

6.       True or False: No Evidence Limit for CLI is Php7,000,000.00 for borrowers 18 to 45 years old or

Php8,000,000.00 for borrowers 46 to 64 years old.

• True

• False

Answer explanation

Correct is Php8,000,000.00 for borrowers 18 to 45 years old or Php7,000,000.00 for borrowers 46 to 64 years old

7.       This BSP Circular sets the guidelines for Granting of Peso Loans to Philippine Residents & Non-residents

• BSP Circular 1048

• BSP Circular 1160

• BSP Circular 855

• BSP Circular 1058

8.       Which of the following statements is TRUE for a special power of attorney

• Only relatives/immediate family may be appointed as an AIF

• Must always be locally notarized

• All applicable instructions for mode of release should be checked

• Alterations are allowed as long as countersigned by the principal and the AIF.

• None are true

9.       Which is/are acceptable income documents for loan borrowers who are OFWs

• Consularized Certificate of Employment

• Job contract

• Non-consularized Certificate of Employment with either payslip or proof of

  remittance for the past 3 to 6 months

• All of the above

10. Properties in these locations require Title Verification up to 2^nd traceback except

• General Trias

• Quezon City

• Las Pinas

• Caloocan

• Antipolo