WorksheetsDAY 5
Total questions: 12
Worksheet time: 6mins
What is the BBS Maximum Exposure for credit lending?
$25,000
$50,000
$75,000
$100,000
What is the required minimum limit of a Business Line of Credit?
$5,000.00
$10,000
$20,000
$50,000
Which credit product would you select if customer has long term Cashflow issues?
Business Loan
Business Credit Card
Business Overdraft
Business Line of Credit
Which Credit Product would be best for short term Cashflow Issues? Such as NSFs.. Return cheques... and etc:
Business Overdraft
Business Credit Card
Business Loan
Business Line of Credit
Why would a customer want a Business Credit Card instead of using their own personal Credit Card?
Higher limits given
Better Visa Options offered
To separate transactions from Personal expense
it looks better
What Fees must we disclose to a customer for applying for any Business Loan or Line of Credit products? Business Assets Secured (B)
PPSA Fee
Set up Fee
Monthly Fee
All of the above
What security type offers the highest interest rates on Business Lines of Credit/Loans?
A (liquid)
B (Business Assets)
Partially Secured Residential Real Estate or Liquid Secured (C)
What province requires the personal guarantee to be certified by a solicitor?
Ontario
BC
Quebec
Alberta
What are the 3 documents we need to send to our customer to initially apply to any credit product?
BBSA, Corp Res, Sig card
Checklist, NPIA, and Sig card
Privacy Agreement, Personal Financial Statement, and Credit Application
Credit agreement, Personal and Business Gaurantee
Who must we speak to in order to apply for any credit product?
Signing Officers
Directors
Owners
Controllers
For Corporations... What other document would we need to accompany with our credit agreement for funding?
BBSA
Sig card
Corporation Resolution
LOD
What must we confirm/ask the customer before starting an application
What limit they want
What Product they want
Asking what security type they want
Asking for consent to check credit
