AST Refresher Quiz

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Pack your ducks if you get question 3 wrong.

Questions and Answers

1.

In order to be funded and approved, an applicant must have a valid personal bank account or prepaid card account.
- A.
  
  True
- B.
  
  False
Correct Answer
B. False

Explanation
A customer may not have a prepaid card account on file when applying for a loan.

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2.

We are an accredited business with the Better Business Bureau.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True
3.

Although we currently don't accept co-signers, we are able to accept 100% in additional household income.
- A.
  
  True
- B.
  
  False
Correct Answer
B. False

Explanation
We are only able to accept up to 50% in additional household income (not to exceed 100% of the customer's total verifiable income). http://avantcredit.vanillaforums.com/discussion/207/household-income-contribution-50

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4.

If a customer is looking to begin an application over the phone (we assure they haven't already applied), which extension would we transfer the call to?
- A.
  
  11002
- B.
  
  11015
- C.
  
  11004
- D.
  
  11003
Correct Answer
B. 11015
5.

Name some of the benefits of taking a loan out with Avant. (Check all that apply)
- A.
  
  Soft credit inquiries
- B.
  
  Same day processing and approval
- C.
  
  Reporting to only TransUnion
- D.
  
  Customer servicing 24/7
- E.
  
  No prepayment penalties and origination fees
- F.
  
  Instant pre-approval
- G.
  
  All of the above
- H.
  
  None of the above
Correct Answer(s)
A. Soft credit inquiries
B. Same day processing and approval
D. Customer servicing 24/7
E. No prepayment penalties and origination fees
F. Instant pre-approval

Explanation
All of the above are correct except for the third answer choice. We report account activity to all three major credit bureaus.

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6.

BONUS QUESTIONA customer may change their repayment date at any stage of the loan (applied or current status).
- A.
  
  True
- B.
  
  False
Correct Answer
B. False

Explanation
Schedule changes must take place post-approval and funding.

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Current Version
Sep 14, 2015

Quiz Edited by
ProProfs Editorial Team
Sep 14, 2015

Quiz Created by
TDIXON5

AST Refresher Quiz

In order to be funded and approved, an applicant must have a valid personal bank account or prepaid card account.

We are an accredited business with the Better Business Bureau.

Although we currently don't accept co-signers, we are able to accept 100% in additional household income.

If a customer is looking to begin an application over the phone (we assure they haven't already applied), which extension would we transfer the call to?

Name some of the benefits of taking a loan out with Avant. (Check all that apply)

BONUS QUESTIONA customer may change their repayment date at any stage of the loan (applied or current status).