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L2 Unit – 6 – Quiz

by Operation AAFM

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  1. Question 1 of 25
    1. Question

    A formal, legal commitment to extend credit up to some maximum amount over a stated period of time

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  2. Question 2 of 25
    2. Question

    When a firm needs guaranteed, short-term funds available for a variety purposes, the bank loan will likely be

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  3. Question 3 of 25
    3. Question

    When does the asset legally belong to the purchaser under a hire purchase agreement?

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  4. Question 4 of 25
    4. Question

    Which of the following is not one of the five C’s of credit analysis?

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    Incorrect
  5. Question 5 of 25
    5. Question

    Which of the following is an example of Credit Information Company?

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    Incorrect
  6. Question 6 of 25
    6. Question

    What is the perceived benefit of borrowing from a credit union?

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    Incorrect
  7. Question 7 of 25
    7. Question

    Mr. Mishra has taken a housing loan of Rs.1.5 cr for 20 years @ 12% p.a. reducing monthly. Calculate principal paid in
    11th installment?

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    Incorrect
  8. Question 8 of 25
    8. Question

    The working capital requirement is

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  9. Question 9 of 25
    9. Question

    As per the matrix for consumer protection for aggrieved consumers, which of the following steps comes last?

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    Incorrect
  10. Question 10 of 25
    10. Question

    Taking out a loan against your life insurance policy does not count as

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    Incorrect
  11. Question 11 of 25
    11. Question

    Which of the following is a borrowing facility/loan advance?

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    Incorrect
  12. Question 12 of 25
    12. Question

    Which of the following would not make a distinction between a hire purchase and a normal purchase?

    Correct
    Incorrect
  13. Question 13 of 25
    13. Question

    ____________is the process that banks undertake to structure a credit facility to minimize risks and generate the best return, given the risks that the banks assume. The credit structure includes the term of the loan, collateral required, amortization requirement, timing of interest payments, and reporting requirements.

    Correct
    Incorrect
  14. Question 14 of 25
    14. Question

    The information listed on your credit report includes several variables that __________uses to set your credit score.

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    Incorrect
  15. Question 15 of 25
    15. Question

    Which of the following situations is most likely to ring an alarm to wealth manager taking care of a client’s debts?

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    Incorrect
  16. Question 16 of 25
    16. Question

    Mr. Sarvesh has taken a housing loan of Rs.50,00,000 of 20 years @ 11% p.a. reducing monthly on floating bases. The bank would increases rate of interest to 12% p.a. after 3 years, what would be the new EMI?

    Correct
    Incorrect
  17. Question 17 of 25
    17. Question

    Which of the following would be consistent with a conservative approach to financing working capital?

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    Incorrect
  18. Question 18 of 25
    18. Question

    A bank customer can file a complaint against banking organization if reply is not received from the bank within a period of ____________after concerned bank has received complaint representation.

    Correct
    Incorrect
  19. Question 19 of 25
    19. Question

    Banking Ombudsman is appointed for

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  20. Question 20 of 25
    20. Question

    The maximum period for which deduction is admissible under section 80E is

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    Incorrect
  21. Question 21 of 25
    21. Question

    In a housing loan, the _________ the client’s margin contribution (his capital), the _________ is his psychological commitment to pay the loan.

    Correct
    Incorrect
  22. Question 22 of 25
    22. Question

    Which of the following are the functions performed by a credit bureau?
    I) Provide details pertaining to credit history
    II) Provide justified opinion whether the loan should be granted or not
    III) Maintain a credit score based on factual information
    IV) Provide personal identification and contact details
    V) Provide details pertaining to current loans

    Correct
    Incorrect
  23. Question 23 of 25
    23. Question

    Which of the following is most likely to be recommended to the wealth manager while dealing with loan and debt management of a client?
    I) Maintain a personal relationship with client
    II) Work on client psychology & attitude as much as you work on their finances
    III) Motivate clients to take responsible credit
    IV) Encourage clients to learn to enjoy with their money by spending where it pleases them
    V) Check the credit report of the client

    Correct
    Incorrect
  24. Question 24 of 25
    24. Question

    Mr. X has recently purchased a house worth Rs. 60 lakh for self-occupation by availing housing loan of Rs. 48 lakh at
    8% p.a. rate of interest. The tenure of loan is 15 years. He has Rs. 15 lakh financial assets at present. He is expected to save annually Rs. 4,00,000 which he invests on a quarterly basis beginning a quarter from now in an instrument which is expected to provide return of 11% p.a. What would be his net worth six years from now? The value of the house which is for consumption purposes is not considered in the net worth so arrived.

    Correct
    Incorrect
  25. Question 25 of 25
    25. Question

    Which of the following statements is most correct?

    Correct
    Incorrect

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