Money Shops & Mortgage Quiz
The aim of this quiz is to assess your knowledge of our Money Shops and the loan acquisition process
- 1.What is a JN Moneyshop?
- A.
A JN Moneyshop is a convenient service oriented “community bank” geared to providing quick service to members and customers to access most JNBS products and services, along with other services.
- B.
Money shops operate as part of the JNBS network of distribution channels, but offer extended hours.
- C.
A & B
- D.
None of the above
- 2.Which two (2) branches were recently rebranded JN Moneyshop?
- A.
Montego Bay
- B.
Portmore Pines
- C.
Port Maria
- D.
All of the above
- 3.Which date was the rebranding of the Money Shops done?
- A.
June 14, 2014
- B.
July 7, 2014
- C.
July 30, 2014
- D.
July 14, 2014
- 4.Jamaica National now has 19 money shops
- A.
True
- B.
False
- 5.Select which ones are JN Money Shops
- A.
Barbican
- B.
JN Financial Services Montego Bay
- C.
Junction
- D.
Spanish Town
- E.
St. Ann's Bay
- 6.Select the correct answers for operations of the Money Shops that are opened on Saturdays
- A.
Will only process Teller Transaction
- B.
You can apply for an ATM Card at any of the locations
- C.
All the locations closes at 1:00 pm
- D.
No customer service
- 7.Which of the following Money Shops are open on a Saturday?
- A.
Spanish Town
- B.
Highgate
- C.
Barbican
- D.
Tivoli
- E.
HWT
- 8.What is the fee charged when doing transactions on Saturdays at the Money Shops?
- A.
$50
- B.
$100
- C.
$150
- D.
$200
- 9.What is a mortgage?
- A.
A debt instrument which creates an interest in specified real property to secure the repayment of a loan of money
- B.
Using a title to secure a loan to purchase a solar water heater
- C.
A. & B
- D.
None of the above
- 10.Which of the following is true about JN Mortgages
- A.
My 17 year old daughter who has her driver's license can access a mortgage
- B.
A registered Company, Churches, Employees and affiliated parties can access mortgages
- C.
Only persons who have a Savings Account with Jamaica National can access a mortgage
- D.
Persons who are unemployed can get a home loan
- 11.What is my mortgage payment comprised of?
- A.
Principal & Interest
- B.
Peril and/or Life Insurance premiums
- C.
Upkeep (if applicable)
- D.
A. B. & C.
- 12.Which of the follow determine the amount you can afford?
- A.
Your income, which determines the size mortgage that you can qualify for
- B.
Funds being deposited monthly to your Savings account
- C.
Mortgage payment should not exceed 1/3 of your gross monthly income
- D.
Income after deducting expenses should be able to cover monthly payment
- 13.What is the Joint Financing Mortgage Program (JFMP)?
- A.
Two persons applying for a Mortgage Loan
- B.
This is a partnership between the National Housing Trust and JNBS
- C.
Processing your mortgage at two different Institutions
- D.
None of the above
- 14.What is the maximum financing for a Home Loan?
- A.
95%
- B.
85%
- C.
75%
- D.
90%
- 15.The maximum term for a home loan is 40 years and the maximum age is 65
- A.
True
- B.
False
- 16.The maximum financing for purchasing land with infrastructure is 50%
- A.
True
- B.
False
- 17.Which of the following can be classified as an equity loan?
- A.
A loan for my chil'd tuition
- B.
A loan to purchase a home
- C.
A loan to pay hospital fees
- D.
A loan to purchase an office building
- 18.Persons interested in acquiring a mortgage should be transferred to Mortgage Services
- A.
True
- B.
False
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