New Hire Exit Exam II

99 Questions | Total Attempts: 47

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New Hire Exit Exam II

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. Y


Questions and Answers
  • 1. 
    PART I - CORINTHIAN Corinthian Colleges, Inc is one of the largest ___________________, post-secondary education companies in the United States and in Canada.
    • A. 

      Not-For-Profit

    • B. 

      For-Profit

    • C. 

      Private

    • D. 

      Collegiate

  • 2. 
    PART I - CORINTHIAN Heald is located in Northern California and in _________________.
    • A. 

      Alaska

    • B. 

      Mexico

    • C. 

      Canada

    • D. 

      Hawaii

  • 3. 
    PART I - CORINTHIAN (Check ALL that apply) Corinthian has campuses in the United States and in ____________________.
    • A. 

      Guam

    • B. 

      Puerto Rico

    • C. 

      Mexico

    • D. 

      Canada

  • 4. 
    PART I - CORINTHIAN Corinthian's mission statement is "We Change Students' Lives."
    • A. 

      True

    • B. 

      False

  • 5. 
    PART II - WORK ENVIRONMENT Bruno is scheduled to start his shift at 8:00am. Bruno arrives at 10:16am. How many occurences will Bruno receive? (FORMAT: 0.0)
  • 6. 
    PART II - WORK ENVIRONMENT When is it appropriate to dress casual at work?
    • A. 

      Fridays only

    • B. 

      Weekends only

    • C. 

      Friday and Weekends only

    • D. 

      Friday, Weekends and when management permits

  • 7. 
    PART II - WORK ENVIRONMENT   An employee must submit a one day vacation request at least __________business days in advance.
  • 8. 
    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

  • 9. 
    PART II - WORK ENVIRONMENT Tony has accrued:
    • 6hr sick time
    • 11hr vacation time
    • Floating Holiday (Unused)
    Tony is requesting to take a day off for his birthday. What accrued time (if any) would Tony be encouraged to use to apply to his paycheck?
    • A. 

      Sick time

    • B. 

      Vacation time

    • C. 

      Floating holiday

    • D. 

      Unpaid

  • 10. 
    PART III - FINANCIAL AID Perkins is a type of ___________loan.
    • A. 

      Private

    • B. 

      Federal

    • C. 

      Employer Direct Bill

    • D. 

      Parent Plus Loan

  • 11. 
    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

  • 12. 
    PART III - FINANCIAL AID During the Life Cycle of a federal student loan, the student will reach his/her DERP during __________________.
    • A. 

      Phase 1 - Identify Need

    • B. 

      Phase 2 - Loan Approval

    • C. 

      Phase 3 - Disbursement

    • D. 

      Phase 4 - In School

    • E. 

      Phase 5 - Grace

    • F. 

      Phase 6 - Repayment

    • G. 

      Phase 7 - Paid in Full

  • 13. 
    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

  • 14. 
    PART III - FINANCIAL AID ____________________ is an option for students with defaulted loans. The student must make ________ consecutive payments before the student will have his/her loans repurchased by an eligibile lending institute and be eligible for addtional federal funding. However, if the student wishes to reapply for an additional federal student loan, the student may request a "Good Standing" letter from the Guarantor at his/her ________ month of consecutive payment.
    • A. 

      Loan Rehabilitation, 9, Fifth

    • B. 

      Loan Repurchasing, 12, Sixth

    • C. 

      Loan Repurchasing, 9, Sixth

    • D. 

      Loan Rehabilitation, 9, Sixth

  • 15. 
    PART III - FINANCIAL AID Once a student graduates, leaves school, or drops below half-time, student will receive a grace period of _______ months before entering repayment on their Stafford Loans.
  • 16. 
    PART III - FINANCIAL AID When does the new Cohort Year begin and end?
    • A. 

      January 1 - December 31

    • B. 

      July 1 - June 30

    • C. 

      August 1 - July 30

    • D. 

      October 1 - September 30

  • 17. 
    PART III - FINANCIAL AID At what point is a student assigned to a Cohort Year?
    • A. 

      The date student begins first day of school

    • B. 

      The date the loan is disbursed

    • C. 

      The date the student enters into repayment phase

    • D. 

      The date the student is approved for deferment

  • 18. 
    PART III - FINANCIAL AID A PUT loan began as a Commercial loan and has been sold (PUT) with to the Department of Education.
    • A. 

      True

    • B. 

      False

  • 19. 
    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

  • 20. 
    PART IV - CURES David is 19 days delinquent. He would like to make a payment today to bring his account current.
    • A. 

      Cure

    • B. 

      Already Cured

    • C. 

      Not a Cure

  • 21. 
    PART IV - CURES Andre currently has a forbearance applied to his account. Andre is unemployed. He qualifies for the Unemployment Deferment.  
    • A. 

      Cure

    • B. 

      Already Cured

    • C. 

      Not a Cure

  • 22. 
    PART IV - CURES Rachel dropped out of school. She has four months into her grace period. Rachel is currently making interest payments only on your unsubsidized loans.
    • A. 

      Cure

    • B. 

      Already Cured

    • C. 

      Not a Cure

  • 23. 
    PART IV - CURES Philip defaulted and completed loan rehabilitation prior to the end of the Cohort Year.
    • A. 

      Cure

    • B. 

      Already Cured

    • C. 

      Not a Cure

  • 24. 
    PART IV - CURES Samantha's account is 18 days delinquent. She expresses she will make a payment next Friday to bring her account current.
    • A. 

      Cure

    • B. 

      Already Cured

    • C. 

      Not a Cure

  • 25. 
    PART IV - CURES Cole currently has a forbearance applied to his account. Cole is unemployed. He qualifies for the Unemployment Deferment.  
    • A. 

      Cure

    • B. 

      Already Cured

    • C. 

      Not a Cure

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