Establishing and Maintaining Credit Limits Quiz
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Questions and Answers

What is the maximum age limit for individuals applying for a loan?

  • 75 years
  • 70 years
  • 65 years (correct)
  • 60 years

    • For motor vehicles under what market value will the loan not be accepted?

  • k65,000 (correct)
  • k80,000
  • k75,000
  • k110,000

    • Which vehicle make does not require exceptional approval by the MD?

  • Mazda
  • Toyota (correct)
  • Ford
  • Mercedes Benz

    • What is the specific year of manufacture requirement for Mercedes Benz vehicles?

    <p>2010 and above</p> Signup and view all the answers

    What type of vehicle valuation method is used to calculate the maximum loan amount for Mercedes Benz vehicles?

    <p>Forced Sale Value (FSV)</p> Signup and view all the answers

    What is the primary responsibility of the credit department according to the text?

    <p>To have the final authority on approving new clients</p> Signup and view all the answers

    Which of the following is NOT a requirement mentioned for establishing credit eligibility?

    <p>The client must have a minimum credit score of 700</p> Signup and view all the answers

    Whose function is it to enforce the credit policy in all respects?

    <p>The Credit and Compliance officer</p> Signup and view all the answers

    What additional requirement is mentioned for clients with an Airtel number operational for less than 3 months?

    <p>Exceptional approval is required from the credit supervisor (Francis Musonda)</p> Signup and view all the answers

    Which of the following documents is NOT mentioned as a requirement in the text?

    <p>A utility bill as proof of residence</p> Signup and view all the answers

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