3.2 Repayment Reporting (OLD SYSTEM)

1. Why is repayment reporting important? Check all that apply.

Journaling rate: Your journaling rate will decrease if you fail to report repayments.

Borrower-lender connection: Kiva lenders must have accurate information on how borrowers are doing.

Avoiding refunds: Kiva will refund a loan if you fail to report the repayment amount.

Repayment reporting is important for two main reasons. Firstly, it allows for risk transfer, as Kiva will only invoice the lender for the actual amounts collected from the borrower, even if it is less than expected. This helps protect the lender from potential losses. Secondly, accurate repayment reporting is necessary for maintaining the borrower-lender connection. Kiva lenders rely on this information to assess how borrowers are doing and make informed decisions about future lending. By providing accurate information, lenders can have confidence in their investments and continue to support borrowers in need.

Explanation

Repayment reporting is important for two main reasons. Firstly, it allows for risk transfer, as Kiva will only invoice the lender for the actual amounts collected from the borrower, even if it is less than expected. This helps protect the lender from potential losses. Secondly, accurate repayment reporting is necessary for maintaining the borrower-lender connection. Kiva lenders rely on this information to assess how borrowers are doing and make informed decisions about future lending. By providing accurate information, lenders can have confidence in their investments and continue to support borrowers in need.

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2. What happens if you fail to report repayment for a particular loan?

Kiva will not invoice you for the loan.

Kiva will invoice you for the full outstanding amount of the loan.

Kiva will refund the loan.

Kiva will assume that the borrower is paying back on time and will invoice you accordingly.

If you fail to report repayment for a particular loan, Kiva will assume that the borrower is paying back on time and will invoice you accordingly. This means that Kiva will send you an invoice for the amount that the borrower is supposed to repay, even if you haven't received the repayment from the borrower.

Explanation

If you fail to report repayment for a particular loan, Kiva will assume that the borrower is paying back on time and will invoice you accordingly. This means that Kiva will send you an invoice for the amount that the borrower is supposed to repay, even if you haven't received the repayment from the borrower.

3. You posted a loan in PA2 with the repayment schedule shown below (format of collection dates is month/day/year). In your repayment report for January, you report that the borrower has only repaid $50 in principal. What will Kiva invoice you for this loan?

$100

$50

$300

$0

Based on the information given, the borrower has only repaid $50 in principal. Therefore, Kiva will invoice you for the amount that the borrower has repaid, which is $50.

Explanation

Based on the information given, the borrower has only repaid $50 in principal. Therefore, Kiva will invoice you for the amount that the borrower has repaid, which is $50.

4. How often must you upload a repayment report in PA2?

Daily

Weekly

Monthly

Annually

In PA2, the repayment report needs to be uploaded on a monthly basis. This indicates that the report should be submitted once every month.

Explanation

In PA2, the repayment report needs to be uploaded on a monthly basis. This indicates that the report should be submitted once every month.

5. How should your repayment report be formatted (assuming that Loan IDs are unique within your organization)?

2 columns: Loan ID or Kiva ID, cumulative principal repaid or total amount outstanding (depending on setting)

2 columns: Client ID, cumulative principal repaid or total amount outstanding (depending on setting)

2 columns: Loan ID or Kiva ID, principal repaid within previous month

3 columns: Loan ID or Kiva ID, principal repaid within previous month, interest repaid within previous month

The repayment report should be formatted with 2 columns: Loan ID or Kiva ID, and cumulative principal repaid or total amount outstanding (depending on the setting). This format allows for easy tracking of the repayment progress for each loan or client, providing a clear overview of the amount repaid or the remaining balance. The inclusion of the Loan ID or Kiva ID helps to uniquely identify each loan, ensuring accurate record-keeping.

Explanation

The repayment report should be formatted with 2 columns: Loan ID or Kiva ID, and cumulative principal repaid or total amount outstanding (depending on the setting). This format allows for easy tracking of the repayment progress for each loan or client, providing a clear overview of the amount repaid or the remaining balance. The inclusion of the Loan ID or Kiva ID helps to uniquely identify each loan, ensuring accurate record-keeping.

6. When should you begin preparing the repayment report for December?

January 1 or as soon as all repayment data from December has been updated in your MIS

January 12

January 15

January 31

The repayment report for December should be prepared on January 1 or as soon as all repayment data from December has been updated in your MIS. This is because January 1 is the start of the new month and it is important to begin preparing the report as soon as all the necessary data is available. Waiting until January 12, January 15, or January 31 would result in a delay in preparing the report and may cause inaccuracies in the data.

Explanation

The repayment report for December should be prepared on January 1 or as soon as all repayment data from December has been updated in your MIS. This is because January 1 is the start of the new month and it is important to begin preparing the report as soon as all the necessary data is available. Waiting until January 12, January 15, or January 31 would result in a delay in preparing the report and may cause inaccuracies in the data.

7. What is the deadline for uploading your December repayment report to PA2?

December 12

January 1

January 12

January 15

The deadline for uploading the December repayment report to PA2 is January 12.

Explanation

The deadline for uploading the December repayment report to PA2 is January 12.

8. Within the Repayment Summary in PA2, what does the "Number of Loans with Repayments in [month]" represent?

Number of loans for which Kiva expects you to report repayments, but for which you have NOT yet reported

Number of loans for which Kiva expects you to report repayments

Number of loans that were reported as on time

Total number of loans that you have ever posted in PA2

The "Number of Loans with Repayments in [month]" represents the number of loans for which Kiva expects the user to report repayments. This means that Kiva is waiting for the user to provide information about the repayments for these loans.

Explanation

The "Number of Loans with Repayments in [month]" represents the number of loans for which Kiva expects the user to report repayments. This means that Kiva is waiting for the user to provide information about the repayments for these loans.

9. You upload a repayment report in PA2 and notice that one of the loans has an error. What does an error indicate?

There is a notable variance between the repayment amount that you reported and the amount that Kiva expects.

You have forgotten to include the amount of interest repaid.

There is a problem with the Loan ID, so PA2 is not able to save the repayment amount.

An error indicates that there is a problem with the Loan ID, so PA2 is not able to save the repayment amount.

Explanation

An error indicates that there is a problem with the Loan ID, so PA2 is not able to save the repayment amount.

10. You upload a repayment report in PA2 and notice that one of the loans has a warning. What does a warning indicate?

There is a notable variance between the repayment amount that you reported and the amount that Kiva expects.

You have forgotten to include the amount of interest repaid.

There is a problem with the Loan ID, so PA2 is not able to save the repayment amount.

A warning indicates that there is a notable variance between the repayment amount that was reported and the amount that Kiva expects. This means that there is a discrepancy between the actual repayment made and the expected repayment amount according to Kiva's records. It could be due to an error in reporting or a mistake in the repayment calculation.

Explanation

A warning indicates that there is a notable variance between the repayment amount that was reported and the amount that Kiva expects. This means that there is a discrepancy between the actual repayment made and the expected repayment amount according to Kiva's records. It could be due to an error in reporting or a mistake in the repayment calculation.

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3.2 Repayment Reporting (Old System)