How To Post A Group Loan

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| By Jomay Liu

Jomay Liu

Community Contributor

Quizzes Created: 6 | Total Attempts: 1,371

Questions: 11 | Attempts: 128 | Updated: May 12, 2024

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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: A group loan must have a featured borrower. Who can be the featured borrower?
- A.
  
  Only the group leader or treasurer
- B.
  
  Any group member who agrees to have more detailed information featured on Kiva’s website
Correct Answer
B. Any group member who agrees to have more detailed information featured on Kiva’s website

Explanation
The correct answer is any group member who agrees to have more detailed information featured on Kiva's website. This means that any member of the group can be the featured borrower as long as they are willing to provide more detailed information that will be displayed on Kiva's website. This allows for flexibility in choosing the featured borrower and ensures that the borrower who is most comfortable sharing their information can be selected.

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3.

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 correct answer is "To add working capital" because it is too vague. "Working capital" can refer to various expenses such as inventory, salaries, or marketing, and without specifying the specific purpose, it is difficult to evaluate the feasibility or necessity of the loan.

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4.

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
5.

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. The question is asking for the maximum number of days in the past that this date can be. The correct answer is 30, which means that the disbursal date cannot be more than 30 days in the past. This implies that the funds must be disbursed within a month from the current date.

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6.

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 can be no more than 90 days in the future. This means that the maximum time allowed for the disbursal of funds is 90 days from the current date. This ensures that the funds are distributed within a reasonable timeframe and prevents any unnecessary delays in the process.

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7.

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 will show the amount of principal and interest that is due. The inclusion of the interest due column indicates that the repayment schedule takes into account the interest that needs to be paid along with the principal amount.

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8.

Step 3: If the group has 5 or fewer members, ___% of members must appear in the photo.
- A.
  
  50
- B.
  
  80
- C.
  
  100
Correct Answer
C. 100

Explanation
If the group has 5 or fewer members, 100% of members must appear in the photo. This means that every single member of the group needs to be present in the photo if the group size is 5 or fewer.

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9.

Step 3: If the group has 6 or more members, ___% of members must appear in the photo.
- A.
  
  50
- B.
  
  80
- C.
  
  100
Correct Answer
B. 80

Explanation
If the group has 6 or more members, 80% of the members must appear in the photo. This means that at least 80% of the total number of group members need to be present in the photo for it to be considered complete.

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10.

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. It is up to the individual lenders to decide which loans they want to fund.

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11.

Step 1: You should enter a loan use that represents the entire group.
- A.
  
  True. The loan use should describe how all group members will use the loan.
- B.
  
  False. The loan use should only describe how the featured borrower will use the loan.
Correct Answer
B. False. The loan use should only describe how the featured borrower will use the loan.

Explanation
The explanation for the correct answer is that the loan use should only describe how the featured borrower will use the loan. This means that the loan is intended for the specific individual or entity that is highlighted or featured, and not for the entire group. The loan use should accurately represent how the featured borrower plans to utilize the funds, rather than encompassing the entire group's intentions.

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Current Version
May 12, 2024

Quiz Edited by
ProProfs Editorial Team
Jul 16, 2013

Quiz Created by
Jomay Liu

How To Post A Group Loan

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

Step 1: A group loan must have a featured borrower. Who can be the featured borrower?

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: If the group has 5 or fewer members, ___% of members must appear in the photo.

Step 3: If the group has 6 or more members, ___% of members must appear in the photo.

Kiva guarantees funding for all loans posted on its website.

Step 1: You should enter a loan use that represents the entire group.