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Worksheets

Are you a loan specialist professional?

Total questions: 25

Worksheet time: 8mins

Name
Class
Date
1.

Which of the following can be included in a customers income?

(choose all that apply)

a)

income not claimed on taxes

b)

Annuity

c)

irregular work/ side jobs

d)

support from family members

e)

student loans

2.

Collateralized installment loans with < 6 payments remaining and < $5000 owed, ____ considered eligible debts.

a)

ARE

b)

ARE NOT

3.

In order to send additional funds, which of the following requirements must be met.

(choose all that apply)

a)

Funds cannot exceed 50% of the total loan amount

b)

Funds cannot exceed 30% of the total loan amount

c)

Pass Cash Flow

d)

Funds cannot exceed $5000

4.

When a customer would like to follow up by calling back, they can be helped by any of the phone specialists available.

a)

True

b)

False

5.

If a customer fills out an application online and calls in to review it, the application should be marked as a _____ application.

a)

Phone

b)

Online

c)

Web

6.

What are the two primary credit agencies we use?

a)

IdentityForce

b)

Equifax

c)

Experian

d)

FICO

7.

As a benefit of the loan product, the customer will receive their first statement in approximately (a)   days.

8.

Number of applications taken divided by the total number of phone calls received.

a)

ANA

b)

Close Rate

c)

One call resolution

d)

Acceptance rate

9.

The consolidations page tab in FI allows us to update creditor account numbers and payment amounts.

a)

False

b)

True

10.

What screen in ACAPS should you check to see if the applicant is the Pre-Screened person?

(a)  

11.

By applying for this loan, it will create an inquiry on your ____ .

a)

credit score

b)

credit card

c)

credit bureau

d)

mortgage

12.

Can we tell an applicant a specific credit score they need in order to be approved for a loan.

a)

No, we are not a credit bureau reporting agency

b)

Absolutely!

13.

The ____ Check list is located in the credit hub on the Appendices tab.

a)

QA

b)

Occupancy

c)

Production

d)

Accuracy

14.

In an email, Michelle said that ____ would be most likely to eat this sandwich.

a)

Jean

b)

Megan

c)

Kyle

d)

Hollis

15.

Do we accept one time pay, bonus pay or overtime as income?

a)

YES

b)

NO

16.

Which of the following is an ineligible debt?

a)

Revolving credit lines

b)

Student Loans

c)

Unsecured installment loans

d)

Business loans

17.

For Unsecured personal loans used for debt consolidation, Applicants may qualify for 50% of their total approved loan amount with a max of _____ in additional funds.

a)

$500

b)

$1000

c)

$5000

d)

$10000

18.

There are pre-payment penalties and fees.

a)

True

b)

False

19.

Loan amounts of $2,500 - $30,000 are booked for

a)

Personal Loans

b)

Debt Consolidation

20.

If an applicant fails a One time Pass Code or Instant ID Q&A attempt, we should try again until they pass it.

a)

True

b)

False

21.

A benefit of our loan product is that it has a _____ annual percentage rate.

a)

Variable

b)

Fixed

22.

Simple Interest

a)

is calculated once a month

b)

is calculated daily

c)

is calculated every other month

d)

is calculated every year

23.

If a client is looking for a lower monthly payment than your initial offer, you should consider looking at a ____ term length.

a)

shorter

b)

longer

24.

This item can be found in whose junk drawer?

a)

Ella's

b)

Megan's

c)

Tim's

d)

Gisele's

25.

Cosigners and or joint applications are taken.

a)

True

b)

False