New Hire Exam 2013 - 2nd Attempt

100 Questions | Total Attempts: 99

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New Hire Exam 2013 - 2nd Attempt

Over the month you have been introduced to the role and responsibilities of the Internal Student Loan Specialist role. This exam is designed to test your knowledge of topics discussed during your SLS New Hire Training. This exam is a cumulative exam covering the materials and topics provided to you during your New Hire training course. In order to move forward into your new Internal Student Loan Specialist role, you are required to pass this exit exam wit a score of 90% or higher. This exam encompasses: Corinthian, Work Environment, Financial Aid, Cures, Forbearance, Deferments, Repayment Plans, Loan Tracker, LiveVox, Dispositions & Cured By Source as well as your Cisco phone. You have been allotted 130 minutes to complete the quiz. Please review


Questions and Answers
  • 1. 
    Part I - SocleSocle’s largest client is currently _____________.
    • A. 

      Corinthian Colleges, Inc

    • B. 

      University of Florida

    • C. 

      Sallie Mae

    • D. 

      Department of Education

  • 2. 
    Corinthian Colleges brand campuses include ______________.
    • A. 

      Everest

    • B. 

      Heald

    • C. 

      Wyotech

    • D. 

      Art Institute

    • E. 

      A, B, and C are correct

  • 3. 
    Socle has offices in ___________________.
    • A. 

      California

    • B. 

      Colorado

    • C. 

      Florida

    • D. 

      All of the above

  • 4. 
    Socle provides the following services to their clients.  
    • A. 

      Financial Aid Processing

    • B. 

      Default Prevention

    • C. 

      Student Engagement/Outreach

    • D. 

      All of the above

  • 5. 
    Socle provides Default Prevention services to clients other than CCI institutions.  
    • A. 

      True

    • B. 

      False

  • 6. 
    PART II - WORK ENVIRONMENT Sean is scheduled to start his 8 hour shift at 10:00am. Sean arrives at 11:23am. Prior to his arrival, Sean called the Attendance Hotline and provided all of the necessary information. How many infractions will Sean receive? (FORMAT: 0.00)
  • 7. 
    PART II - WORK ENVIRONMENT When is it appropriate to wear flip flops to work?
    • A. 

      Fridays only

    • B. 

      Weekends only

    • C. 

      Friday, Weekends and when Leadership permits.

    • D. 

      Flip Flops are not acceptable to wear in the work place

  • 8. 
    PART II - WORK ENVIRONMENTBen would like to request one day off. Ben can submit his request up to ______ month(s) in advance.
  • 9. 
    PART II - WORK ENVIRONMENT Employees are allowed to use their mobile phone at their workstations and in the hallways of the workstations during break/lunch.
    • A. 

      True

    • B. 

      False

  • 10. 
    PART II - WORK ENVIRONMENT(Select all that apply)Which option does roll over to the next calendar year?
    • A. 

      Sick time

    • B. 

      Vacation time

    • C. 

      Floating holiday

    • D. 

      Break time

    • E. 

      Lunch time

  • 11. 
    PART III - FINANCIAL AIDPerkins is a type of ___________loan.
    • A. 

      Private

    • B. 

      Federal

    • C. 

      Employer Direct Bill

    • D. 

      Parent Plus Loan

  • 12. 
    PART III - FINANCIAL AID ________________ is a non-need based federal student loan.
    • A. 

      Direct Loan

    • B. 

      Subsidized loan

    • C. 

      Unsubsidized loan

    • D. 

      Subsidized and Unsubsidized Loans

  • 13. 
    PART III - FINANCIAL AID During the Life Cycle of a federal student loan, the borrower will be placed into a Cohort Year once the borrower reaches ___________________.
    • A. 

      Phase 1

    • B. 

      Phase 2

    • C. 

      Phase 3

    • D. 

      Phase 4

    • E. 

      Phase 5

    • F. 

      Phase 6

    • G. 

      Phase 7

  • 14. 
    PART III - FINANCIAL AID The guarantor's role is to:
    • A. 

      Keep records of all student loans under their jurisdiction and may collect on defaulted loans

    • B. 

      Communicate to the lender the Federal Government that the student loans will be repaid

    • C. 

      Act as a co-signer to the student loan

    • D. 

      All of the above

  • 15. 
    PART III - FINANCIAL AID Loan Rehabilitation is an option for borrower with defaulted loans. The borrower must make nine consecutive payments before the borrower will have his/her loans repurchased by an eligible lending institute and be eligible for additional funding. However, if the borrower wishes to reapply for an additional federal student loan, the borrower may request a __________________________ from the Guarantor at his/her 6 month of consecutive payment.  
    • A. 

      Good Standing Letter

    • B. 

      Federal Loan Request Letter

    • C. 

      Completion of Six Payment Letter

    • D. 

      Title IV Eligibility Letter

  • 16. 
    PART III - FINANCIAL AID Once a student graduates, leaves school or drops below ___________________, the student will receive a Grace period of six months before entering into repayment on his/her federal student loans.  
  • 17. 
    PART III - FINANCIAL AID When does the new Cohort Year begin?
    • A. 

      January 1

    • B. 

      July 31

    • C. 

      August 1

    • D. 

      September 30

    • E. 

      October 1

  • 18. 
    PART III - FINANCIAL AID What major key players are involved in a Commercial Loan?
    • A. 

      Lender and Borrower

    • B. 

      Lender, Guarantor and Borrower

    • C. 

      Lender, Guarantor, Servicer and Borrower

    • D. 

      Dept of Edu, Lender, Guarantor, School, Parent and Borrower

  • 19. 
    Part III - Financial AidWhat types of loans accumulate interest? 
    • A. 

      Subsidized Loans

    • B. 

      Parent Plus

    • C. 

      Unsubsidized

    • D. 

      All of the Above

  • 20. 
    PART III - FINANCIAL AID When handling a Parent Plus loan, the _________________ must fill out and sign any forbearance, deferment and/or repayment plan request.
    • A. 

      Parent

    • B. 

      Student

    • C. 

      Lender

    • D. 

      School

  • 21. 
    PART IV - CURES Daisy is 27 days delinquent. She would like to make a payment today to remove all delinquency and bring her account out of danger of defaulting. You are able to conference in with the servicer and have successfully processed Daisy's payment.
    • A. 

      Cure

    • B. 

      Already Cured

    • C. 

      Not a Cure

  • 22. 
    PART IV - CURES Jason currently has a forbearance applied to his account. Jason is receiving Food Stamps. You are able to qualify Jason for a deferment. You then assist Jason in applying for the deferment utilizing the servicer borrower portal.    
    • A. 

      Cure

    • B. 

      Already Cured

    • C. 

      Not a Cure

  • 23. 
    PART IV - CURES Regina recently dropped out of school. She is currently four months into her Grace period. Regina states she is currently employed and is interested in making interest payments only on her unsubsidized loans during her Grace period. You assist her by contacting the servicer and have now placed her on automatic payments.  
    • A. 

      Cure

    • B. 

      Already Cured

    • C. 

      Not a Cure

  • 24. 
    PART IV - CURES CCi has been monitoring Trevor’s federal loans for the past two years. Trevor defaulted during his second year of monitoring. Trevor was placed on Loan Rehabilitation where he successfully completed the program in August.
    • A. 

      Cure

    • B. 

      Already Cured

    • C. 

      Not a Cure

  • 25. 
    PART IV - CURES Samantha's account is 18 days delinquent. She expresses she will make a full month payment tomorrower after work.
    • A. 

      Cure

    • B. 

      Already Cured

    • C. 

      Not a Cure

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