Looking FNSCRD301 Process Applications for credit Assessment 3 Answers? Grab the opportunity to find free assignment sample related to all subjects in your Academic. Assignmenttask.com is proud to offer online assignment help to the students of Australia, UK and USA.
FNS40815 Certificate IV in FINANCE & MORTGAGE BROKING
| FNSCRD301 Process applications for credit | |
| Unit Description | This unit describes the skills and knowledge required to apply product knowledge and advisory skills to identify, confirm and process applications for credit prior to assessment in accordance with organisational and legislative requirements. |
| Learning Outcomes | By the end of this unit, students will be able to:
|
Activity 1
When assessing credit applications, credit officers need to be mindful of customer special needs. Identify and describe some special needs that need to be considered.
Activity 1 Answer
|
|
Activity 2
Legislation requires financial service providers not to enter into a credit contract that is unsuitable. What does the term ‘not unsuitable’ mean in this context?
Activity 2 Answer
|
|
Activity 3
How would a credit officer verify personal information provided by a credit applicant?
Activity 3 Answer
|
|
Activity 4
When assessing a credit application, lenders often refer to the 5 C’s of credit. What does the term Capacity mean in this context?
Activity 4 Answer
|
|
Activity 5
If you have recently had a loan application declined, what things could you do to improve the next loan application?
Activity 5 Answer
|
|
Activity 6
Why is it important for a lender to consider the implications of using emails to communicate with borrowers?
Activity 6 Answer
|
|
Activity 7
What is the purpose of an organisational risk policy?
Activity 7 Answer
|
|
Activity 8
Who should be allowed to access a financial service provider’s customer file?
Activity 8 Answer
|
|
Activity 9
Account monitoring is an important part of managing credit customers. What are some key reasons for the continuous monitoring of customer accounts?
Activity 9 Answer
|
|
Reference ID: #getanswers2001023