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WorksheetsLoan Class Wrap-up
Total questions: 30
Worksheet time: 26mins
WPCU will finance a vehicle up to what LTV?
110%
125%
100%
90%
The maximum term for a $7,999.99 car loan is (a) months
What are all the credit tier letters?
A+
A
B
C
D
What does VIN stand for?
(a)
The processing page in an auto loan application is used for...
We don't use that page
Titles
J.D. Power
What is the maximum dollar amount for a members insurance deductible for a $4,000 auto loan?
$1000
$750
We don't collect insurance information for that loan amount
$500
What is the maximum MSRP for Depreciation Protection?
$50,000
$100,000
No limit
$125,000
Every loan application starts in (a) !
When using direct deposit as POI, the direct deposit must equal what percent of the amount stated in the application?
100%
95%
80%
70%
The credit union primarily uses what credit reporting bureau?
Whichever one the member requests
Transunion
Experian
Equifax
When collecting POI, you should be reviewing the last (a) days of income.
What CANNOT be used in an application? Select all that apply.
P.O. Box as an address
Special characters
The income statement
The previous employment screen
We can accept up to two Instant Approvals in (a) days.
Loan comments/notes/write-ups are used to....(Select all that apply)
Explain poor credit history
Let underwriting know the members favorite color
Your recommendation for the loan decision
Supply information underwriting cannot see
Members can have up to $50,000 in aggregate (a) debt at the credit union.
What should we be stating about a members income during the application process?
You must report all income
The Income statement
Proof of income is required
We don't collect income during the application
Copy, (a) , calculate!
How many fixed rate credit cards does WPCU offer?
1
2
0
They're all fixed rates
The rate for our First Time User credit card is...?
17.99%
18%
12.5%
14.99%
Yes or No - Can a joint member request to close a credit card?
(a)
What specfile would you use to add or remove an authorized signer?
ADD/REMOVE AUTH
CC AUTH USER ADD/REMOVE
AUTH USER
We don't allow authorized users on cards
What are the foreign transaction fees on our cards?
1%
3%
4%
5%
To pull the value of a vehicle, we use...
Kelley Blue Book
J.D. Power
Ohio BMV
We pull values??
Which resources are available in "Online Tools" within MeridianLink? Select all that apply.
Ohio BMV
iQQ
Credit Pull
VinLink
Do I have to disclose the credit pull to the member(s)?
Only the primary
Every application
They should already know
Only on their 1st application with us
When booking a loan, MeridianLink will give you an error message if the credit report is expired.
True
False
WPCU uses which credit scoring model for all consumer loans?
VantageScore
FICO
TransRisk
Insurance Score
What are some reasons that every application should start in Symitar? Select all that apply.
Confirm the account number
Check for custodial, rep payee, or trust
Assure they are in good standing
Verify if any charge-offs
A Financial Coach can offer a W4W loan to a member.
True
False
How confident are you feeling about doing loans?
Wait...I've been in loan training?!
Practice makes progress!
I'm a little scared...
I'm READY - turn me loose!!
