Loan Quizzes & Trivia

You don’t need to take out a loan to take our interesting loan trivia quizzes! Take our quizzes and test your knowledge on this important topic. Can you answer questions based on the types of loans available, what interest is, and what a bond is? Whether you simply loved economics at school or you are thinking about taking out a loan, our quizzes are sure to test your knowledge on the world of loans!

Get ready to put on your thinking cap and answer questions such as, “What is a loan covenant?”, “What is the difference between secured and unsecured loans?”, and “What is a concessional loan?” Be a loan professional after attempting our quizzes and impress your friends and family with your new knowledge!
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This quiz is designed to determine if you fully understand compliance issues relating to loan documentation disclosure and packaging

Questions: 10  |  Attempts: 1741   |  Last updated: Jan 17, 2013
  • Sample Question
    How many days do you have to mail initial loan disclosure documents after taking a complete application?

The Department of Real Estate has the need to manage all Mortgage Loan Originator (MLO) license endorsements and this is done through the NMLS. The NMLS Quiz will help the Mortgage Originator with the tools that they need to pass...

Questions: 25  |  Attempts: 12950   |  Last updated: Jan 24, 2019
  • Sample Question
    Under the USA Patriot Act, which of the following is NOT obtained by a mortgage broker from a borrower for customer identification purposes?

To determine Loan Officer's skills, abilities, strengths, and weaknesses.

Questions: 5  |  Attempts: 150   |  Last updated: Jan 9, 2013
  • Sample Question
    Hello?

Below is a Trivia Quiz on Uniform Residential Loan Application. If you are applying for a loan, you will be required to fill out different forms intended to convince the lender to disperse a certain amount of money to your...

Questions: 5  |  Attempts: 541   |  Last updated: Nov 8, 2019
  • Sample Question
    When the LO takes an application in person and the applicant does not provide the ethnicity, race and sex information, the LO must:  


Questions: 18  |  Attempts: 66   |  Last updated: Jan 5, 2014
  • Sample Question
    How long of a residence history should you verify on the 1003?

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Loan Questions & Answers


When is a loan application considered complete?
After choosing the best loan option which satisfies your requirement and submitting the required documents such as ID proofs, income proofs, reason to avail the loan amount and considering the credit history, the loan application will be approved. T
What is the difference between FHA and Conventional loans?
FHA refers to the Federal Housing Authority. FHA loan is a type of loan that can be acquired more easily. It does not require a great credit score. It has a higher loan to value ratio than a conventional loan. You can also enlist the help of a co-bor
What is the difference between Grant and Loan?
Most of the time, when we receive a particular amount of money from the government, financial institutions, individuals, at times we will be required to pay the money back, and also, the money can just be given to you, and you will not need to pay it
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