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WorksheetsAre you a loan specialist professional?
Total questions: 25
Worksheet time: 8mins
Which of the following can be included in a customers income?
(choose all that apply)
income not claimed on taxes
Annuity
irregular work/ side jobs
support from family members
student loans
Collateralized installment loans with < 6 payments remaining and < $5000 owed, ____ considered eligible debts.
ARE
ARE NOT
In order to send additional funds, which of the following requirements must be met.
(choose all that apply)
Funds cannot exceed 50% of the total loan amount
Funds cannot exceed 30% of the total loan amount
Pass Cash Flow
Funds cannot exceed $5000
When a customer would like to follow up by calling back, they can be helped by any of the phone specialists available.
True
False
If a customer fills out an application online and calls in to review it, the application should be marked as a _____ application.
Phone
Online
Web
What are the two primary credit agencies we use?
IdentityForce
Equifax
Experian
FICO
As a benefit of the loan product, the customer will receive their first statement in approximately (a) days.
Number of applications taken divided by the total number of phone calls received.
ANA
Close Rate
One call resolution
Acceptance rate
The consolidations page tab in FI allows us to update creditor account numbers and payment amounts.
False
True
What screen in ACAPS should you check to see if the applicant is the Pre-Screened person?
(a)
By applying for this loan, it will create an inquiry on your ____ .
credit score
credit card
credit bureau
mortgage
Can we tell an applicant a specific credit score they need in order to be approved for a loan.
No, we are not a credit bureau reporting agency
Absolutely!
The ____ Check list is located in the credit hub on the Appendices tab.
QA
Occupancy
Production
Accuracy
In an email, Michelle said that ____ would be most likely to eat this sandwich.
Jean
Megan
Kyle
Hollis
Do we accept one time pay, bonus pay or overtime as income?
YES
NO
Which of the following is an ineligible debt?
Revolving credit lines
Student Loans
Unsecured installment loans
Business loans
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.
$500
$1000
$5000
$10000
There are pre-payment penalties and fees.
True
False
Loan amounts of $2,500 - $30,000 are booked for
Personal Loans
Debt Consolidation
If an applicant fails a One time Pass Code or Instant ID Q&A attempt, we should try again until they pass it.
True
False
A benefit of our loan product is that it has a _____ annual percentage rate.
Variable
Fixed
Simple Interest
is calculated once a month
is calculated daily
is calculated every other month
is calculated every year
If a client is looking for a lower monthly payment than your initial offer, you should consider looking at a ____ term length.
shorter
longer
This item can be found in whose junk drawer?
Ella's
Megan's
Tim's
Gisele's
Cosigners and or joint applications are taken.
True
False
