Novice Level Assessment Questions For Loan Processing

19 Questions | By Cbc.training | Last updated: Mar 22, 2022 | Total Attempts: 231

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This assessment will help gauge your Loan Processing skill level.

Questions and Answers

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