Money Shops & Mortgage Quiz

18 Questions | Total Attempts: 59

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Money Shops & Mortgage Quiz

The aim of this quiz is to assess your knowledge of our Money Shops and the loan acquisition process


Questions and Answers
  • 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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