IFB - Exam Questions (PDF)

## IFB - Respostas Erradas ### Question 1 To find out if a building or self-contained unit has a property registration number registered in the Property Register or if its registration has been requested by the owner, we need this information from: - **a.** Citius Portal. - **b.** Finance Departme...

## IFB - Respostas Erradas ### Question 1 To find out if a building or self-contained unit has a property registration number registered in the Property Register or if its registration has been requested by the owner, we need this information from: - **a.** Citius Portal. - **b.** Finance Department. - **c.** Land Registry Office. - **d.** Municipal Council. **The correct answer is: **b. Finance Department. ### Question 2 Which of the following statements about interest rates on loans is **true**? - **a.** Interest rates on loans taken out at a variable interest rate must be reviewed every 6 months. - **b.** Interest rates on loans taken out at a fixed interest rate, sometimes credit institutions use Swap rates as a reference, adding a spread. - **c.** Interest rates on loans taken out at a fixed interest rate must always remain the same for the entire term of the loan. - **d.** Interest rates on loans taken out at a variable interest rate are always indexed to the Euribor at 6 or 12 months. **The correct answer is: **b. Interest rates on loans taken out at a fixed interest rate, sometimes credit institutions use Swap rates as a reference, adding a spread. ### Question 3 Should loan agreements, that do not correspond to a home loan, but are secured by a mortgage on real estate, be subject to the rules on home loans? - **a.** No, the rules on home loans do not apply to these types of agreements. - **b.** Yes, the rules on home loans apply to these types of agreements. - **c.** No, in addition to the general home loan regulations, these rules only apply to the financial leasing of real estate. - **d.** No, in addition to the general home loan regulations, these rules only apply to the financing of construction works that are not secured by a mortgage. **The correct answer is: **b. Yes, the rules on home loans apply to these types of agreements. ### Question 4 Municipal Councils are responsible for licensing construction, works, and also for housing or use of residential units or urban buildings. This process should be requested: - **a.** Independently for one unit, obligatorily. - **b.** Independently for one unit, but can be requested jointly for all the units that make up that same building. - **c.** Obligatory for all units that make up that same building. - **d.** Obligatory for all units that make up that same building, but in exceptional cases, it can be required independently for one unit. **The correct answer is: **b. Independently for one unit, but can be requested jointly for all the units that make up that same building. ### Question 5 As part of the process of acquiring real estate and land registration, you should give the client guidance so that they can obtain important information about the property. The answer to the question "Is the property to be acquired free from pre-emptive rights, such as heirs or tenants?" can be found by consulting: - **a.** Municipal Council. - **b.** Citius Portal. - **c.** Finance Department. - **d.** Land Registry Office. **The correct answer is: **c. Finance Department. ### Question 6 Which of the following options correctly completes the following sentence? In the enforcement process, the following applies: - **a.** The debtor's assets are subject to the satisfaction of the creditor. - **b.** Assets that have not been pledged as collateral cannot be seized. - **c.** The first stage consists of seizing the debtor's assets. - **d.** The debtor's assets are seized by order of the Court. **The correct answer is: **d. The debtor's assets are seized by order of the Court. ### Question 7 In relation to the amortization systems for loans under the general home loan scheme, select the **true** option. - **a.** The constant payment system can be proposed to clients who anticipate a decline in their financial capacity in the years following the contract, for example, due to retirement. - **b.** The constant and progressive payment systems are the only ones permitted by law for all contracts. - **c.** In the constant payment system, the customer amortizes a fixed amount of capital and only pays part of the interest, with the remaining amount being added to the following payment. - **d.** In the mixed payment system, the amount of the payment will increase progressively until it becomes constant. **The correct answer is: **d. In the mixed payment system, the amount of the payment will increase progressively until it becomes constant. ### Question 8 Consider the situation where a mortgage application has been submitted to a financial institution for the purchase of a house that requires renovation, with a grace period of one year. What is the appropriate procedure? - **a.** When assessing solvency, the institution must consider the customer's ability to meet the obligations arising from the loan agreement after the end of the grace period. - **b.** When assessing solvency, the credit institution must, at this first stage, assess only the customer's ability to meet their obligations during the grace period. - **c.** When assessing solvency, the financial institution should base itself on the expectation of increased income earned by the customer to meet their obligations after the grace period. - **d.** None of the presented procedures are appropriate. **The correct answer is: **a. When assessing solvency, the institution must consider the customer's ability to meet the obligations arising from the loan agreement after the end of the grace period. ### Question 9 Select the option indicating a type of loan that is **not** included in consumer loans. - **a.** Home loan entered into with private customers, outside the scope of business or commercial activity, secured by a mortgage. - **b.** Personal loan entered into with private customers, outside the scope of business or commercial activity, secured by a guarantee. - **c.** Revolving credit entered into with private customers, outside the scope of business or commercial activity, not secured by a mortgage. - **d.** Car loan entered into with private customers, outside the scope of business or commercial activity, secured by a surety. **The correct answer is: **a. Home loan entered into with private customers, outside the scope of business or commercial activity, secured by a mortgage. ### Question 10 Which of the following statements corresponds to one of the characteristics of real estate leasing? - **a.** Payments are made in arrears, of a constant value and made up of capital and interest. - **b.** The frequency of payments is agreed upon between the parties, with monthly payments being the most common. - **c.** The contract cannot have a duration of more than 15 years. - **d.** During the term of the contract, the owner of the property is the lessee. **The correct answer is: **b. The frequency of payments is agreed upon between the parties, with monthly payments being the most common. ### Question 11 When a cash advance facility with mortgage security is involved, the lender: - **a.** May charge a fee for early partial repayment of the loan granted. - **b.** May not charge any fees for early partial repayment of the loan granted. - **c.** May not charge any fees for early partial repayment of the loan granted, except if the amortization occurs during the first six months. - **d.** May charge a fee for early full repayment of the loan granted. **The correct answer is: **b. May not charge any fees for early partial repayment of the loan granted. ### Question 12 If a customer does not agree with the assessed value of the property to be mortgaged as security for a home loan, can they request a second assessment? - **a.** Yes, and in this case, it is the customer who pays for this assessment. - **b.** Yes, it is a right that they have, so it will be free of charge. - **c.** No, they must accept the assessment made because it is valid for the financial institution. - **d.** No, the only possibility is to submit a written complaint to the bank, but in this case, they will still have to pay for the new assessment that the bank will conduct in response to the client. **The correct answer is: **a. Yes, and in this case, it is the customer who pays for this assessment. ### Question 13 Which option correctly completes the following sentence? In mortgage credit, the lender is forbidden from charging any fees for analyzing the renegotiation of the credit terms: - **a.** Except when it is to amend the terms of the credit agreement, namely the spread. - **b.** Except when it is to amend the interest rate regime. - **c.** Except when it is to amend the insurance company. - **d.** When it is to amend the duration of the credit agreement **The correct answer is: **d. When it is to amend the duration of the credit agreement. ### Question 14 What is the deadline for a financial institution to analyze a proposal from a banking customer to renegotiate a debt whose contract is part of PERSI? - **a.** 5 business days. - **b.** 10 business days. - **c.** 15 consecutive days. - **d.** Always 30 consecutive days. **The correct answer is: **c. 15 consecutive days. ### Question 15 The following are the main elements to verify income and expenses of the household and a factor to consider when assessing the solvency of applicants and calculating their debt-to-income ratio: - **a.** Their latest tax return, accompanied by the income statement that applies to them. - **b.** The last three bank statements of the applicants, accompanied by the income statements of the guarantors, if any. - **c.** The last three bank statements of the applicants. - **d.** Their latest tax return, accompanied by other official supporting documentation, such as bank statements. **The correct answer is: **a. Their latest tax return, accompanied by the income statement that applies to them. ### Question 16 If a potential buyer of a property wants to find out if the owner is indeed who they claim to be, they should contact: - **a.** Municipal Council. - **b.** Land Registry Office. - **c.** Finance Department. - **d.** Condominium administration. **The correct answer is: **b. Land Registry Office. ### Question 17 Under the current legal framework, only credit institutions can charge, based on default, the following: - **a.** A fixed fee for debt recovery. - **b.** A fee for recovering debt, which cannot exceed 2% of the value of the unpaid and overdue payment. - **c.** A fee for recovering debt, which cannot exceed the value of the unpaid and overdue payment. - **d.** A single fee for recovering debt. **The correct answer is: **d. A single fee for recovering debt. ### Question 18 In cases where a customer takes out a loan in a foreign currency and does not choose any financial instrument to mitigate currency risk, the lender must warn the holder of the loan in a foreign currency periodically: - **a.** When the variation in the total amount owed or the amount of the payments exceeds by more than 10% the variation that would result from applying the exchange rate between the loan agreement currency and the national currency at the time of the loan agreement. - **b.** When the variation in the total amount owed or the amount of the payments exceeds by more than 20% the variation that would result from applying the exchange rate between the loan agreement currency and the national currency at the time of the loan agreement. - **c.** When the variation in the total amount owed exceeds by more than 30% the variation that would result from applying the exchange rate between the loan agreement currency and the national currency at the time of the loan agreement. - **d.** When the variation in the amount of the payments exceeds by more than 30% the variation that would result from applying the exchange rate between the loan agreement currency and the national currency at the time of the loan agreement. **The correct answer is: **b. When the variation in the total amount owed or the amount of the payments exceeds by more than 20% the variation that would result from applying the exchange rate between the loan agreement currency and the national currency at the time of the loan agreement. ### Question 19 Should loan agreements, that do not correspond to a home loan, but are secured by a mortgage on real estate, be subject to the rules on home loans?. - **a.** No, in addition to the general home loan regulations, these rules only apply to the financial leasing of real estate. - **b.** No, in addition to the general home loan regulations, these rules only apply to the financing of construction works that are not secured by a mortgage. - **c.** No, the rules on home loans do not apply to these types of agreements. - **d.** Yes, the rules on home loans apply to these types of agreements. **The correct answer is: **d. Yes, the rules on home loans apply to these types of agreements. ### Question 20 In relation to the amortization systems for loans under the general home loan scheme, select the **true** option. - **a.** The constant and progressive payment systems are the only ones permitted by law for all contracts. - **b.** The constant payment system can be proposed to clients who anticipate a decline in their financial capacity in the years following the contract, for example, due to retirement. - **c.** In the constant payment system, the customer amortizes a fixed amount of capital and only pays part of the interest, with the remaining amount being added to the following payment. - **d.** In the mixed payment system, the amount of the payment will increase progressively until it becomes constant. **The correct answer is: **d. In the mixed payment system, the amount of the payment will increase progressively until it becomes constant. ### Question 21 To pay for the insurance associated with the loan, the financial institution debited the borrower's bank account, resulting in a negative balance, without any overdraft facility associated with the account. To claim back this amount, the financial institution may pursue: - **a.** Enforcement action for payment of a specific sum. - **b.** Special Proceedings for Payment Agreement. - **c.** Bankruptcy proceedings. - **d.** Declaratory action for conviction. **The correct answer is: **d. Declaratory action for conviction. ### Question 22 Which option correctly completes the following sentence? The APR - Annual Percentage Rate is subject to maximum limits applicable to consumer loan agreements, which: - **a.** Are calculated and disclosed quarterly by the Bank of Portugal. - **b.** Are calculated and defined monthly by the Bank of Portugal. - **c.** Are lower in overdraft facilities. - **d.** Are higher in car loan agreements. **The correct answer is: **a. Are calculated and disclosed quarterly by the Bank of Portugal. ### Question 23 Identify a type of agreement that is **excluded** from the scope of home loans. - **a.** A home loan agreement for the payment of the deposit due in the context of the future acquisition of a property for permanent own residence. - **b.** A loan agreement where the purpose is to finance the completion of works and which are not secured by a mortgage or other right over immovable property. - **c.** A consolidated loan secured by a mortgage on a property. - **d.** Financial lease of properties for secondary housing. **The correct answer is: **b. A loan agreement where the purpose is to finance the completion of works and which are not secured by a mortgage or other right over immovable property. ### Question 24 Indicate which type of repayment refers to the following statement: "In this type of repayment, during a period of time the customer does not amortize capital and only pays interest." - **a.** Standard. - **b.** Loan and interest deferral. - **c.** Capital deferral. - **d.** Capital deferment. **The correct answer is: **c. Capital deferral. ### Question 25 If it is concluded that there is indeed a risk of the customer defaulting, the credit institution: - **a.** May request the information and additional documents needed to include the agreement in PARI. - **b.** May proceed with the assessment of the customer's financial capacity, being able to request information and documents that are strictly necessary and appropriate for that purpose. - **c.** Does not need to carry out an assessment of the customer's financial capacity, but should request the information and documents required to decide on the alert level . - **d.** May request the information and documents required to include the agreement in PERSI. **The correct answer is: **b. May proceed with the assessment of the customer's financial capacity, being able to request information and documents that are strictly necessary and appropriate for that purpose. ### Question 26 When a cash advance facility with mortgage security is involved, the lender: - **a.** May charge a fee for early full repayment of the loan granted. - **b.** May charge a fee for early partial repayment of the loan granted. - **c.** May not charge any fees for early partial repayment of the loan granted, except if the amortization occurs during the first six months. - **d.** May not charge any fees for early partial repayment of the loan granted. **The correct answer is: **d. May not charge any fees for early partial repayment of the loan granted. ### Question 27 A customer can enter into a contract with a credit institution for a period of time during which the amortization of capital does not take place, but only interest payments are made. This type of repayment is called: - **a.** Standard repayment. - **b.** Capital deferment. - **c.** Capital deferral. - **d.** Capital and interest deferral. **The correct answer is: **c. Capital deferral. ### Question 28 "The Central Credit Bureau (CCB) contains information about effective and potential credit obligations assumed exclusively by private customers." This statement is: - **a.** False, the CCB contains information about effective and potential credit obligations assumed by any individual, company or other entity toward the participating entities. - **b.** False, the CCB contains information only about the effective credit obligations assumed by any individual, company or other entity toward the participating entities. - **c.** False, the CCB contains information only about the effective credit obligations assumed exclusively by private customers. - **d.** True. **The correct answer is: **a. False, the CCB contains information about effective and potential credit obligations assumed by any individual, company or other entity toward the participating entities. ### Question 29 The formula: Co = Cn (1 + i) directly calculates: - **a.** The updated value in a simple interest regime. - **b.** The updated value in a compound interest regime. - **c.** The accumulated value, either in simple or compound interest. - **d.** The accumulated interest in a simple interest regime. **The correct answer is: **b. The updated value in a compound interest regime. ### Question 30 Which option correctly completes the following sentence? The guarantee: - **a.** Is a real security that can only be provided in consumer loan agreements. - **b.** Is a payment guarantee provided by a third party, given in a credit instrument. - **c.** Is provided by the guarantor, who assumes secondary liability to the principal debtor, and it is possible to invoke the right to prior payment in a separate claim. - **d.** Can only be provided by one person, separately from any other person, in each loan agreement. **The correct answer is: **b. Is a payment guarantee provided by a third party, given in a credit instrument. ### Question 31 Under what conditions are consumers entitled to make an extraordinary and early payment of capital, or in other words, an early partial repayment? - **a.** They must request the repayment from the lender, with at least 14 business days' notice. - **b.** They can do so at any time during the term of the loan agreement, as long as the repayment coincides with the payment date. - **c.** They must request the repayment from the lender, with at least 10 business days' notice. - **d.** They can do so at any time during the term of the loan agreement, as long as the repayment is made on the 1st day of the month following the notice sent to the bank. **The correct answer is: **b. They can do so at any time during the term of the loan agreement, as long as the repayment coincides with the payment date. ### Question 32 Which option is correct? The consequences for the financial institution and/or the employee if they do not comply with some of the obligations under the general framework for prevention and regulation of loan default are: - **a.** Fine of €1,000 to €500,000 if it is an individual, with the possibility of applying accessory penalties as well. - **b.** Fine of €1,000 to €500,000 if it is a legal person, with the possibility of applying accessory penalties as well. - **c.** Fine of €3,000 to €1,500,000 applicable to an individual. - **d.** Fine of €3,000 to €1,500,000 applicable to legal persons or individuals. **The correct answer is: **a. Fine of €1,000 to €500,000 if it is an individual, with the possibility of applying accessory penalties as well. ### Question 33 The following are the main elements to support the household’s income and expenses and a factor to consider when assessing the solvency of applicants and calculating their debt-to-income ratio: - **a.** The last three bank statements of the applicants, accompanied by the income statements of the guarantors, if any. - **b.** Their latest tax return, accompanied by the income statement that applies. - **c.** Their latest tax return, accompanied by other official supporting documentation, such as bank statements. - **d.** The last three bank statements of the applicants. **The correct answer is: **b. Their latest tax return, accompanied by the income statement that applies. ### Question 34 If the customer, a consumer, who had previously informed the lending institution that they had become unemployed, defaults on the loan, the bank must: - **a.** Immediately include the agreement in PERSI. - **b.** Immediately present the customer with a proposal to rectify the default. - **c.** Include the agreement in PERSI between the 31st and 60th day after the date on which the customer stopped complying with the debt service. - **d.** Await contact from the customer to determine if the default is occasional or definitive. **The correct answer is: **a. Immediately include the agreement in PERSI. ### Question 35 When it comes to bridging loans to purchase land for the construction of permanent own housing, the following statement is true: - **a.** The term of the loan cannot exceed 12 months. - **b.** The interest rate is always fixed. - **c.** The maximum amount of the loan is defined by the institution. - **d.** The most usual guarantee is a letter of credit, signed by the applicants, and possibly countersigned. **The correct answer is: **c. The maximum amount of the loan is defined by the institution.