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WorksheetsF& I Cert
Total questions: 83
Worksheet time: 42mins
Decreasing life insurance can be purchased in a deal.
True
False
Credit apps don’t pull from credit app.
True
False
Can't set a mark up in aftermarket as a default.
True
False
SFI on deal worksheet will bring up customized pricing in Business unit preferences is true.
True
False
In equity allocation screen in IGNITE where can you designate that insufficient equity will be covered out of dealership profit?
Participation from profit
Equity rollover section
Dealer loan adjustment
Profit sharing override
Where is the default order for equity allocation selected?
RADAR
Dashboard
Portfolio Manager
Trade Blotter
What is an upfront "protection to the dealer" fee paid by the lessee?
Security Deposit
Residual Value
Acquisition Fee
Disposition Fee
Correct formula for ratio method of calculating finance reserve?
((sell-buy rate)/Sell) x finance charge x 1st split %
((buy-sell rate)/Buy) x finance charge x 2nd split %
((sell+buy rate)/Sell) x finance charge x 1st split %
((sell-buy rate)/Buy) x finance charge x 1st split %
Transunion is run through credit bureau inquiry application.
True
False
Vehicle holds cannot be released in FI.
True
False
Once credit app is turned on which is true? Credit app will only be submitted in IGNITE. This applies to the whole branch.
True
False
Where do you turn on the spec to enforce name file spec in FI?
FI Specs: SPEC 1
FI Settings: General
FI Tools: File Manager
FI Preferences: Naming Rules
How is sales profit calculated?
Vehicle gross - total frontend commissions
Total frontend commissions - vehicle gross
Vehicle gross + total frontend commissions
Total backend commissions - vehicle gross
Required fields are fields highlighted with a contrasting color.
True
False
In Desking the discount field can be populated by entering a %?
True
False
If credit score isn't displaying at the bottom of the customer sub screen, what do you do to get it to display?
Click the display sensitive info button
Refresh the page
Log out and log back in
Contact technical support
PRB customers are able to book multiple products at once.
True
False
How can you book multiple products at one time through PRB?
By selecting the "select unbooked" checkbox and then F9
By clicking the "book all" button at the top right corner
By using the "auto-book" feature in the settings menu
By selecting each product individually and pressing F5
In IGNITE, where could someone adjust the type of total profit that is displayed on the worksheet?
System tools -> Specs -> business unit preferences -> profit
Worksheet -> View -> Profit Settings
Admin panel -> User Preferences -> Profit Display
Reports -> Customize -> Profit Options
Which of the following negotiations tools is not offered as an IGNITE FI app to use in deals?
MenuVantage
PencilPro
DealMaker
RateRunner
Which of the following is NOT a valid entry in the address type field in the credit inquiry screen?
AP-Army post
CA-Current address
PA-Permanent address
OA-Office address
Deals can be set to automatically save after a period of inactivity in which screen?
Business Unit preferences
User Profile settings
Deal Overview page
Pipeline Dashboard
Voiding a contract in SFI voids the contract on ALL providers websites?
False
True
Only on some providers
Depends on the contract type
In desking vendor sub screen, PPI stands for?
Pre-paid interest
Post-paid insurance
Personal property insurance
Preliminary payment information
Where can a user register a new jurisdiction in desking to allow proper calculation of govt taxes and fees?
Library on Demand
Settings Page
User Profile
Dashboard
The rebates and incentives tool keeps track of the total number of dealer certs used for a given time period and makes sure the dealer doesn’t exceed amount is
False
True
Sometimes
Not specified
What is maximum number of aftermarkets on a deal?
40
20
60
100
How is net trade calculated?
Total trade - total trade payoff
Total exports + total imports
Total imports - total exports
Total trade + total trade payoff
If the number of days to retain credit reports is set to 30 days and not attached to a deal, what happens to reports at that point?
They are deleted
They are archived for future use
They are sent to the user for review
They are automatically attached to a random deal
Where can a user void PRD contracts in IGNITE for available vendors?
Print -> FI Forms and Display-> VSC Rating and booking
Home -> Dashboard -> Vendor Management
Settings -> User Preferences -> Contract Settings
Reports -> Contract Summary -> Void Contracts
Which message displays on OFAC inquiry list if a possible match was found?
HIT
NO MATCH
PENDING
REVIEW
Which of the following is a valid econtracting status?
Declined
withdrawn
reg error
On employees sub screen in IGNITE, what are the only labels that can be edited?
Closer 1 and closer 2
Employee ID and Name
Department and Role
Start Date and End Date
How long can credit reports received from a credit bureau be reviewed at no cost to customer?
30 days
7 days
60 days
90 days
____ is the rate at which the dealership purchases contract from lending institute.
Buy rate
Interest rate
APR
Residual value
Which of the following is NOT a valid vehicle use option?
F-Family
Personal
Business
Commercial
The cost of a vehicle can be auto pulled from which if the following?
Invoice
MSRP
All of the above
How can you delete a custom report in desking?
Go to reports -> Manage custom reports
Right-click the report and select delete
Contact support to remove the report
Delete from the dashboard settings
Where do users need to change the settings in order to default a user's start deal screen to show last 20 deals added?
User Preferences
Admin Console
Deal Settings
System Configuration
Customers can add forms, vendors and jurisdictions without the TAC.
True
False
If a dealership has a $100 minimum commission defaulted for all 4 employees, what is the min for each salesman on a 2 salesman deal?
$50
$25
$100
$75
In IGNITE FIN specs, where could someone default dealer fees for a retail bank?
Retail bank defaults
Loan product setup
Customer profile settings
Transaction history
What does a blue highlight in the trade allowance or payoff in multiple scenarios indicate?
There is more than 1 trade
The trade is pending approval
The trade is not valid
The trade has been completed
Which of the following PRB products are valid product types from the dealer and product registration screen?
ESC/Maintenance
Warranty Only
Insurance Plan
Extended Coverage
Which of the following is NOT a valid group option in aftermarket product maintenance?
Tire and wheel protection
Paint protection
Key replacement
Roadside assistance
In sales and FI, which of the following apps allows you to request OFAC inquiry?
Credit bureau inquiry
Loan calculator
Account statement viewer
Transaction history export
In FI cash receipts, the "pull from" column allows to pull from which of the following?
All of the above (Cash down, deposit, and total of payment)
Only cash down
Only deposit
Only total of payment
What is the ID number assigned to the vehicle by the dealership?
Stock number
License plate
VIN (Vehicle Identification Number)
Registration number
For a lease with a net cap cost of 35,500 adjusted residual of 14,800 and a 48 month term, what is the monthly depreciation?
431.25
512.50
389.75
450.00
If you can view a credit report in the credit report selection screen, how can you attach it to a deal?
Enter A and the # of the report at the command line
Click the 'Attach' button on the toolbar
Drag and drop the report onto the deal window
Right-click the report and select 'Attach to Deal'
In FIN specs where can you turn on the field dependency validation for spot delivering deals?
Field dependency
General settings
User preferences
Deal type configuration
Deals with vehicles on hold cannot be deleted.
True
False
What does AOR stand for?
Add on rate
Annual Operating Revenue
Average Output Ratio
Authorized Official Record
When econtracting forms that are part of a lender's required forms list can be set to auto queue on the print forms screen provided the following: _________.
Both (the form is selected for the lender in edoc and the "display esign forms only is selected")
Only if the form is not selected for the lender in edoc
Only if the "display esign forms only" is not selected
If the form is not part of the lender's required forms list
What is total depreciation? _________.
Net cap cost - adjusted residual
Adjusted residual - net cap cost
Net cap cost + adjusted residual
Net cap cost x adjusted residual
When selling a warranty which fields are required for a contract to integrate to service?
Policy number and Premium
Customer address and Email
Product serial number and Color
Salesperson name and Store location
Which of the following info doesn’t not push from gubagoo? _________
Purchase date requested
Customer name
Phone number
Email address
Which of the following is not a valid aftermarket handling method for lease deals?
Rebate
Subvention
Residualization
Capitalization
The Credit bureau inquiry app offers all of the following benefits except?
All of the above are benefits
Provides instant loan approval
Improves your credit score automatically
Allows you to dispute credit report errors
What Icon indicates a vehicle is on hold?
Blue circle
Red triangle
Green square
Yellow star
FI sales without accounting, when closing deals, SWOA must be turned on to be able to?
Send warranties to service
Generate invoices automatically
Access customer credit reports
Approve discounts above threshold
What is the purpose of entering a NO in the qualified (yes/no) field in insurance, warranty, and GAP screen?
It indicates that the customer does not qualify for products
It increases the coverage amount for the customer
It automatically approves all pending claims
It updates the customer's contact information
In ERA-IGNITE FI where can a credit score be defaulted to use for calculating payments before credit report is received?
Tools -> user preferences
Finance -> Credit Settings
Admin -> Default Values
Reports -> Credit Analysis
What service does Credit bureau inquiry app use to transmit data?
Secure data connection (SDC)
Public Wi-Fi network
Bluetooth connection
Unencrypted email
Where can deal category be changed after deal is added?
Subscreens->vehicle-> vehicle tab
Main menu->Reports
Settings->User Management
Dashboard->Overview
What color is econ "ec" button when funding status is booked?
Solid white with green check
Solid red with white cross
Flashing yellow with exclamation mark
Solid blue with green check
You can access experian autocheck in what screens?
All of the above
Home screen only
Settings screen only
Profile screen only
The rebates and incentives tool keeps track of total number of dealership certs used for given time period and make sure they don’t exceed amount.
True
False
The sales DOC report is set up on a user by user basis.
True
False
In the desking aftermarkets subscreen, which field does not display?
Company
Product
Price
Warranty
______ is the process of a dealer running a credit check on a customer and delivering the vehicle on the results of the results of the credit report before final approval by the lender.
Spot Delivery
Lease Transfer
Title Holding
Deferred Payment
In ERA-IGNITE desking, the discount field percent hyperlink is used to reduce the selling price of the vehicle on the deal by a % of the manufacturers MSRP.
True
False
Which of the following do not affect residual on a lease?
Money Factor
Mileage Allowance
Lease Term
Vehicle Make/Model
Which Vendor code must be profiled in order to use enhanced routeone credit application integration?
RT2
RT1
RTE
R02
If you want to send proposals to CM from desking, where do you set this up?
Enable contract management integration in user preferences and select the checkbox to send to CM when printing proposals.
Set up the proposal sending option in the admin dashboard under system settings.
Activate CM integration in the proposal template editor.
Configure the CM connection in the network settings panel.
For tiered commission, ____ is the type of commissions in which the salesperson is paid commission rate of the tier that corresponds to the gross payable amount.
Exclusive
Cumulative
Progressive
Flat
Where can a user void a product rating and booking contract in IGNITE for available vendors?
Both A&B (Print->FI forms and Display->VSC rating and products)
Only in the Admin panel
Only through customer support
Only via email request
How can you change a lease from monthly to bi-weekly in ERA-IGNITE canada?
Change the payments per year from 12 to 26 in the vendor subscreen under misc
Change the payment frequency in the customer profile to bi-weekly
Adjust the lease term to 14 days in the contract settings
Select 'bi-weekly' from the payment type dropdown in the main menu
Where can you change the spec for pulling additional defaults when changing a bank on a deal?
FI Specs->Spec 1 tab
Deal Summary->Defaults tab
Bank Details->Settings tab
User Preferences->Banking tab
Where can a user set the GAP product to auto rate within PRB?
VSC Rating and Products-> Additional controls
User Preferences-> GAP Settings
Policy Management-> Product Options
System Configuration-> Auto Rate
How would you set the system so that there automatically is a $60 flat that populates in used deals?
FI conditional event defaults-> set the gas fee to $60 for both deal types but only used cars
Change the default tax rate to $60 in the pricing settings
Set the $60 fee in the vehicle inventory management section
Update the customer profile to include a $60 surcharge for used deals
When using credit bureau inquiry/700credit integration, compliance requirement specs can be set up to force a user to clear a hit for the following: ________?
Either of the above (OFAC and ID)
Only OFAC
Only ID
None of the above
In IGNITE desking, how does a user access deal activity tracking mnemonics for the deal activity log?
FIN specs->Functions->maintenance->deal activity tracking mnemonics
Sales->Reports->deal activity log
Admin->Settings->deal tracking mnemonics
Inventory->Functions->activity tracking
