Life Cycle Of A Loan Quiz! Test

Reviewed by Editorial Team
The ProProfs editorial team is comprised of experienced subject matter experts. They've collectively created over 10,000 quizzes and lessons, serving over 100 million users. Our team includes in-house content moderators and subject matter experts, as well as a global network of rigorously trained contributors. All adhere to our comprehensive editorial guidelines, ensuring the delivery of high-quality content.
Learn about Our Editorial Process
| By Jomay Liu
J
Jomay Liu
Community Contributor
Quizzes Created: 6 | Total Attempts: 1,376
| Attempts: 664
SettingsSettings
Please wait...
  • 1/8 Questions

    Within PA2, you can look up every loan that your organization has ever posted, regardless of status.

    • True
    • False
Please wait...
About This Quiz

Explore the 'Life Cycle of a Loan' in this quiz, focusing on key decision-making factors for lenders, loan funding timelines, and the management of loan disbursement and posting. Ideal for learners in finance and loan management.

Life Cycle Of A Loan Quiz! Test - Quiz

Quiz Preview

  • 2. 

    You disbursed a loan to a borrower on January 1. What is the latest day that you can post this loan in PA2?

    • January 31 (30 days after it is disbursed)

    • April 1 (90 days after it is disbursed)

    • Any day - there is no limit

    Correct Answer
    A. January 31 (30 days after it is disbursed)
    Explanation
    The latest day that you can post this loan in PA2 is January 31, which is 30 days after it is disbursed. This is because the question states that the loan was disbursed on January 1, and the latest day to post it is 30 days after disbursement.

    Rate this question:

  • 3. 

    You post a loan on July 15. On August 9, the loan receives 100% of the requested funding. When will your organization receive the funds for this loan?

    • On August 9

    • By the end of August

    • By the end of September

    Correct Answer
    A. By the end of September
    Explanation
    The organization will receive the funds for the loan by the end of September. This is because it takes time for the funding to be processed and transferred after the loan has received 100% of the requested funding on August 9.

    Rate this question:

  • 4. 

    On January 1, you post a loan in PA2 that has not yet been disbursed to the borrower. What is the latest day that you can disburse the loan to the borrower?

    • January 31 (30 days after it is posted in PA2)

    • April 1 (90 days after it is posted in PA2)

    • Any day - there is no limit

    Correct Answer
    A. April 1 (90 days after it is posted in PA2)
    Explanation
    The loan can be disbursed to the borrower up until April 1, which is 90 days after it is posted in PA2. This suggests that there is a time limit of 90 days for disbursing the loan, after which it would no longer be possible to do so.

    Rate this question:

  • 5. 

    Where does Kiva obtain the money used to fund your organization’s loans?

    • From individual lenders located all over the world

    • From Kiva’s institutional investors

    • Both A) and B)

    Correct Answer
    A. From individual lenders located all over the world
    Explanation
    Kiva obtains the money used to fund their organization's loans from individual lenders located all over the world as well as from Kiva's institutional investors. This means that both individual lenders and institutional investors contribute to the funding of Kiva's loans.

    Rate this question:

  • 6. 

    You post a loan on July 15. On July 22, the loan receives 100% of the requested funding. When will your organization receive the funds for this loan?

    • On July 22

    • By the end of July

    • By the end of August

    Correct Answer
    A. By the end of August
    Explanation
    The organization will receive the funds for the loan by the end of August. This is because even though the loan received 100% of the requested funding on July 22, it does not specify when the funds will be disbursed. Therefore, it can be assumed that it will take some time for the funds to be processed and transferred to the organization, which is why the funds will be received by the end of August.

    Rate this question:

  • 7. 

    What factors do lenders consider when deciding whether or not to fund a loan? 

    • Borrower’s personal story

    • Intended loan use

    • Borrower’s photo

    Correct Answer(s)
    A. Borrower’s personal story
    A. Intended loan use
    A. Borrower’s photo
    Explanation
    Lenders consider the borrower's personal story, intended loan use, and borrower's photo when deciding whether or not to fund a loan. The borrower's personal story helps lenders understand the borrower's background, financial situation, and ability to repay the loan. The intended loan use gives lenders an idea of how the funds will be utilized and whether it aligns with their lending criteria. The borrower's photo may be used for identification purposes and to verify the borrower's identity. These factors collectively help lenders assess the risk associated with the loan and make an informed decision.

    Rate this question:

Quiz Review Timeline (Updated): Mar 21, 2023 +

Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

  • Current Version
  • Mar 21, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Aug 02, 2013
    Quiz Created by
    Jomay Liu
Back to Top Back to top
Advertisement