Membership Applications

What is the first step in the application process?

• Creating applications

• Waiting for lender responses

• Submitting documents

• Receiving approval emails

What does it mean if you do not hear back from a lender after applying?

• Pending

• Approval

• Denial

• Incomplete application

Which of the following is NOT a common document required by lenders?

• Driver's license

• Birth certificate

• W2 forms

• Pay stubs

Why is it recommended to apply for loans at night?

• Faster processing times

• Higher chances of approval

• The system is automated at night

• Lenders are more lenient at night

What should you never put as the purpose of a loan?

• Home Improvement

• Debt Consolidation

• Family Needs

• Expenses

What is the recommended loan term for clients with excellent credit scores?

• 24 months

• 36 months

• 72 months

• 48 months

What should you do after applying for all loans and credit cards?

• Submit additional documents

• Wait for phone calls

• Take a screenshot of the application

• Call the lenders

What is the purpose of creating a password for the lender's portal?

• To access loan details

• All of the above

• To submit applications

• To upload required documents

Why is it crucial to submit required documents within 72 hours?

• To receive a discount on membership fees

• To avoid late fees

• To prevent the application from being withdrawn

• To get a higher loan amount

What happens if the application information is not sent quickly?

• The application will be canceled and an inquiry will appear on the credit report

• The application will be put on hold

• The client will need to reapply

• The client will receive a warning