Loan Quizzes, Questions & Answers

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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Loan Processor Quiz

Welcome to the "Loan Processor Quiz," a comprehensive and informative challenge designed specifically for current and aspiring loan processors. This quiz aims to test and refine your understanding of the various aspects...

Questions: 10 | Attempts: 5025 | Last updated: Apr 24, 2024

Sample Question
How many days do you have to mail initial loan disclosure documents after taking a complete application?

3 Days

1 Day

5 Days

Must be mailed immediately

1003: Uniform Residential Loan Application (Urla)

Questions: 18 | Attempts: 181 | Last updated: Oct 8, 2024

Sample Question
How long of a residence history should you verify on the 1003?

1 year

6 months

2 years

Home Loans PKT- July 2015-pre

Questions: 10 | Attempts: 18 | Last updated: Apr 14, 2023

Sample Question
Base Rate is the minimum rate below which banks are not permitted to lend barring certain exceptions.

True

False

Life Cycle Of A Loan Quiz! Test

Questions: 8 | Attempts: 663 | Last updated: Mar 21, 2023

Sample Question
What factors do lenders consider when deciding whether or not to fund a loan?

Borrower’s personal story

Intended loan use

Borrower’s photo

Intermediate Level Assessment Questions For Loan Processing

This assessment will help gauge your Loan Processing skill level.

Questions: 21 | Attempts: 364 | Last updated: Mar 21, 2023

Sample Question
Loans with an alternate payment schedule cannot be set up to automatically re-amortize payments.

True

False

Recent Quizzes

Is a Reverse Mortgage Loan Right for You? Quiz

Embark on a journey of financial self-discovery with our 'Is a Reverse Mortgage Loan Right for You?' Quiz. This personality quiz is designed to guide you through the intricacies of reverse mortgages, helping you assess if...

Questions: 10 | Attempts: 32 | Last updated: Dec 28, 2023

Sample Question
What is your age range?

Under 55

55-64

65 or older

Loans And Discounts Quiz

LOANS AND DISCOUNTS QUIZ

GOOD LUCK! HAVE FUN!

Questions: 15 | Attempts: 91 | Last updated: Mar 15, 2023

Lrpu Process Test On Faq And Error Markdowns

LRPU process test on FAQ and error markdowns

Questions: 20 | Attempts: 136 | Last updated: Jul 31, 2024

Sample Question
As per hamp form borrower has mentioned wage income and we have received proof accordingly, however received 2013 tax returns reflects positive business income what action needs to be taken in this scenario

Condition the loan for clarification

Process the loan normally ignoring business income.

Cancel the workflow

The Penultimate Loan Quiz

This is your description.

Questions: 10 | Attempts: 109 | Last updated: Mar 14, 2024

Sample Question
What are the max number of loans can a participant have outstanding at a time?

One for Small Market, One for Mid and Large Market

Two for all Markets

Three for Small Market, Five for Mid and Large

Unlimited for all Markets

How To Post A Group Loan

How to Post a Group Loan

Questions: 11 | Attempts: 128 | Last updated: May 13, 2024

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

Only the group leader or treasurer

Any group member who agrees to have more detailed information featured on Kiva’s website

How To Post An Individual Loan

How to Post an Individual Loan

Questions: 10 | Attempts: 186 | Last updated: Mar 19, 2023

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

A) It enables you to track the borrower in PA2.

B) It enables you to relist the borrower should he or she take additional loans in the future.

Both A) and B)

Trivia Quiz On Uniform Residential Loan Application

Trivia Quiz on Uniform Residential Loan Application

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: 679 | Last updated: Mar 20, 2023

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:

The LO is not required to do anything because the applicant has declined to furnish the information.

The LO must mark “I do not wish to furnish this information” and “this information was provided in a face-to-face interview.

The LO must complete the ethnicity, race and sex information based upon visual observation and surname.

Both B and C.

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Loan Quizzes, Questions & Answers

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