Novice Level Assessment Questions For Loan Processing
Settings
This assessment will help gauge your Loan Processing skill level.
- 1.When creating a CIF key for a Loan, do you have to create separate records for all borrowers?
- A.
True
- B.
False
- 2.You can compose and send an email from CIF inquiry?
- A.
True
- B.
False
- 3.When inquiring on a Commercial CIF record, can you see a list of all the accounts they presently have with the bank?
- A.
True
- B.
False
- 4.If a customer prefers that his statements and notices go to a location other than his primary address, can we accommodate him?
- A.
True
- B.
False
- 5.When creating a New Loan in Silverlake, would you:
- A.
Create a new CIF record, and then start the loan.
- B.
Start the loan and create the new CIF record during the loan set-up process.
- C.
Create a new CIF record, wait until after End of Day Processing is complete and start the loan the next day.
- D.
Any of the above
- E.
None of the above
- 6.CIF keys for guarantors are not added to a loan in Silverlake.
- A.
True
- B.
False
- 7.When creating a Payment Code 6 loan, you need to enter the Payment Due Date?
- A.
True
- B.
False
- 8.You enter HMDA/CRA information from the new loan entry screens?
- A.
True
- B.
False
- 9.HMDA/CRA screens are completed in Laser Pro.
- A.
True
- B.
False
- 10.When creating a FASB Cost you must create a FASB Fee too.
- A.
True
- B.
False
- 11.You may have multiple FASB Fee and Costs records on single loan.
- A.
True
- B.
False
- 12.Most commercial loan documents are prepared in the “Closing - New Commercial” transaction type in Laser Pro.
- A.
True
- B.
False
- 13.When documenting a loan in Laser Pro you should have an approved Loan Presentation.
- A.
True
- B.
False
- 14.When documenting a loan that is Real Estate Secured, the borrower must also be the owner of the real estate being pledged as collateral.
- A.
True
- B.
False
- 15.When documenting a Commercial Loan, the Business Loan Agreement should have a maturity date.
- A.
True
- B.
False
- 16.The “NAI Classification Code” (NAICS) field in Silverlake is:
- A.
A mandatory field and must be completed before you can navigate to the next field.
- B.
Not a mandatory field for navigation purposes and field entry is required by policy.
- C.
Not a mandatory field for navigation purposes nor is field entry required by policy.
- D.
There is no such field in Silverlake.
- E.
None of the above
- 17.Where do you go in Laser Pro to find out which version you are using?
- A.
Help and About Laser Pro Lending
- B.
Admin and Personnel
- C.
Transaction and Recall
- D.
All of the above
- E.
None of the above
- 18.All warnings that appear on the Laser Pro New Loan Checklist must be removed.
- A.
True
- B.
False
- 19.In Laser Pro a Notice of Adverse Action is created in:
- A.
Application Transaction Mode
- B.
Closing Transaction Mode
- C.
Both
- D.
Neither
Back to top