Podcast
Questions and Answers
What is verified when an individual applicant is employed in a family-owned firm?
What is verified when an individual applicant is employed in a family-owned firm?
- Only the individual applicant
- Only the company
- Both the individual applicant and the company (correct)
- Neither the individual applicant nor the company
What is the purpose of in-house file verification?
What is the purpose of in-house file verification?
- To find the borrower's credit score
- To determine the borrower's employment status
- To verify the identity of the borrower or co-maker (correct)
- To check the borrower's criminal record
What should a credit investigator do if they find that the applicant's name is similar to a defendant in a court case?
What should a credit investigator do if they find that the applicant's name is similar to a defendant in a court case?
- Pursue the investigation to determine whether the applicant is the same defendant (correct)
- Ask the applicant to provide additional documentation
- Ignore the information and proceed with the application
- Immediately reject the credit application
What is verified in the case of a corporate account?
What is verified in the case of a corporate account?
Who is checked under both personal and trade/business name?
Who is checked under both personal and trade/business name?
What is the primary purpose of credit investigation?
What is the primary purpose of credit investigation?
What is the scope of in-house file verification?
What is the scope of in-house file verification?
Who is included in the in-house verification process?
Who is included in the in-house verification process?
What is the purpose of court case verification?
What is the purpose of court case verification?
What type of information is gathered during credit investigation?
What type of information is gathered during credit investigation?
Who may undergo credit investigation?
Who may undergo credit investigation?