How To Post An Individual Loan

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| By Jomay Liu

Jomay Liu

Community Contributor

Quizzes Created: 6 | Total Attempts: 1,371

Questions: 10 | Attempts: 186 | Updated: Mar 18, 2023

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Questions and Answers

1.

Optional: Please provide your feedback on this video (this question is not graded): Do you have any comments about this video?
2.

Step 1: Which of the following is NOT an acceptable loan use because it is too vague?
- A.
  
  To buy fruits and vegetables for his grocery store
- B.
  
  To add working capital
- C.
  
  To buy a sewing machine
- D.
  
  To pay tuition fees
Correct Answer
B. To add working capital

Explanation
The question asks for the loan use that is too vague. "To add working capital" is not an acceptable loan use because it is a broad and general term that does not specify how the funds will be used. It does not provide any specific details or purpose for the loan, making it too vague to be considered an acceptable loan use.

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1
0
3.

Please provide your feedback on this video (this question is not graded): How would you rate this video?
- A.
  
  5 - Excellent
- B.
  
  4 - Very Good
- C.
  
  3 - Good
- D.
  
  2 - Fair
- E.
  
  1 - Poor
4.

Step 2: The disbursal date can be no more than ____ days in the past.
- A.
  
  30
- B.
  
  60
- C.
  
  90
Correct Answer
A. 30

Explanation
The disbursal date refers to the date on which funds are released or paid out. In this context, the correct answer is 30 days. This means that the disbursal date cannot be more than 30 days in the past, indicating that the funds must have been released within the last month.

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5.

Step 2: The disbursal date can be no more than ____ days in the future.
- A.
  
  30
- B.
  
  60
- C.
  
  90
Correct Answer
C. 90

Explanation
The disbursal date refers to the date on which a payment or loan is made. In this case, the question is asking for the maximum number of days in the future that the disbursal date can be. The correct answer is 90, which means that the disbursal date cannot be more than 90 days in the future.

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6.

Step 2: The repayment schedule consists of:
- A.
  
  2 columns: Collection date, principal due
- B.
  
  3 columns: Collection date, principal due, interest due
- C.
  
  4 columns: Collection date, principal due, interest due, interest rate
Correct Answer
B. 3 columns: Collection date, principal due, interest due

Explanation
The repayment schedule consists of three columns: Collection date, principal due, and interest due. This means that for each collection date, the schedule includes the amount of principal that is due to be repaid and the amount of interest that is due to be paid. The interest rate is not included in the schedule, indicating that it is not necessary to track the interest rate for each payment.

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7.

Step 3: What is REQUIRED to appear in the photo that is uploaded?
- A.
  
  Borrower’s house
- B.
  
  Borrower’s face
- C.
  
  Item(s) that the borrower purchased with the loan
Correct Answer
B. Borrower’s face

Explanation
The correct answer is "Borrower's face" because in order to verify the identity of the borrower, it is necessary for their face to be visible in the photo that is uploaded. This helps to prevent fraud and ensure that the loan is being used by the intended borrower.

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8.

Kiva guarantees funding for all loans posted on its website.
- A.
  
  True. All loans automatically receive funding.
- B.
  
  False. Kiva lenders must choose to fund loans.
Correct Answer
B. False. Kiva lenders must choose to fund loans.

Explanation
The correct answer is False. Kiva lenders must choose to fund loans. This means that not all loans posted on Kiva's website are guaranteed to receive funding. Instead, it is up to the lenders to decide which loans they want to fund.

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9.

Step 1: Why is it important to enter an accurate Client ID?
- A.
  
  A) It enables you to track the borrower in PA2.
- B.
  
  B) It enables you to relist the borrower should he or she take additional loans in the future.
- C.
  
  Both A) and B)
Correct Answer
C. Both A) and B)

Explanation
Entering an accurate Client ID is important because it enables you to track the borrower in PA2, which is necessary for managing and monitoring their loans. Additionally, it allows you to relist the borrower if they take additional loans in the future, ensuring that their information is up to date and easily accessible.

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10.

Step 1: Why is it important to enter an accurate Loan ID?
- A.
  
  A) It enables you to track the loan in PA2.
- B.
  
  B) It enables you to report repayments in PA2.
- C.
  
  Both A) and B)
Correct Answer
C. Both A) and B)

Explanation
Entering an accurate Loan ID is important because it enables you to track the loan in PA2 and report repayments in PA2. By entering the correct Loan ID, you can easily monitor the progress of the loan and ensure that all repayments are accurately recorded. This helps in maintaining accurate records and ensuring that the loan is properly managed.

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Current Version
Mar 18, 2023

Quiz Edited by
ProProfs Editorial Team
Jul 16, 2013

Quiz Created by
Jomay Liu

How To Post An Individual Loan

Optional: Please provide your feedback on this video (this question is not graded): Do you have any comments about this video?

Step 1: Which of the following is NOT an acceptable loan use because it is too vague?

Please provide your feedback on this video (this question is not graded): How would you rate this video?

Step 2: The disbursal date can be no more than ____ days in the past.

Step 2: The disbursal date can be no more than ____ days in the future.

Step 2: The repayment schedule consists of:

Step 3: What is REQUIRED to appear in the photo that is uploaded?

Kiva guarantees funding for all loans posted on its website.

Step 1: Why is it important to enter an accurate Client ID?

Step 1: Why is it important to enter an accurate Loan ID?