Quiz Seven - General Question
This quiz covers General Questions.
This section contains the general topics covered during boot camps Jeopardy game
When do you make first contact with a late customer?
- Day 1 Late
- Day 2 Late
- Day Before
- Same Day
How many times can you attempt to call a late customer in a day?
What is the rule you break when you discuss a loan with an outsider?
- 3rd Party Disclosure
What is the purpose for calling a reference?
- Obtain location Information about the customer
- Discussing the customers ability to repay the loan
- Just chatting
- Looking for a new TV set
What Is "I am attempting to collect a debt. Information obtained during this call will be used for the purpose of a debt collection?"
- Reg Z
- Mini Miranda
- My boss said I have to do it
What does FDCPA stand for?
- Fair Debt Calling Procedures Act
- Federal Department of Collections & Procedures Activity
- Fair Debt Collectors Practice Act
- Fair Debt Collection Practices Act
What is the number of days on a dead application before the system automatically sends an adverse action out?
- Same Day
- 3 days
- 14 days
- 30 days
Advertising and marketing must not contain what terms?
- Payment terms
- Dollar terms
- Trigger terms
- Marketing Artwork
When you talk to a person on the phone about getting a loan you can just quote the payment right?
- You must quote the payment and number of payments
- You must also quote the APR of the loan
- Yes it is ok to just quote the payment.
What Does NOAA stand for?
- Notice of Adversary Activity
- Notice of Adverse Action
- Notification of Adverse Activity
- Notification of Adverse Action
Name The Rules And Regulations FastBucks Must Comply With: (select all that apply)
(i) any verbal complaint, and (ii) any written complaint that is not a level 2 complaint is a level one complaint?
What is any written complaint that makes an allegation of misleading or false statements?
- Level One Complaint
- Level Two Complaint
- Level Three Complaint
- Level Four Complaint
You must mail the complaint form to these two people. (select all that apply)
- Legal Department
- Audit Department
- Paula Fox
This New Mexico, Idaho & Utah loan allows us to use 80% of rough trade value.
- AE Installment 200%
- AE Installment 250%
- AE Installment 125%
- AE Installment 210%
This AE Installment must be used on any car that is older than 15 Years.
- AE 250%
- AE 225%
- AE 125%
- AE 304.25%
Check the 6 reasons why an AE installment loan is beneficial to your store. (select up to six)
- Bigger Book
- Less Maintenance
- Bigger Loans
- More competitive offering
- Low default rates
- Multiple methods to collect
- Just like them better
- Keeps my DM happy
- We need more cars
When taking pictures of the vehicle, what should you try and include in at least one picture?
Who should you call to verify if a lien is on a vehicle?
- DMV or MVD
- DM and DMV
- Repossession Company
You should check the dash plate and door sticker to verify the Vehicle Identification Number (VIN)
If the dash plate with the Vin number looks tampered with in any way you need to contact a DM