EXAM: Auto Loans

1. What is the security collateral for auto loans?

• OR CR
• OR only
• CR only

2. TRUE or FALSE. The branch auto loan is always under a 2-party type of transaction.

• True
• False

3. Based on standards, what is the lowest age to be considered when applying for auto loan?

• 20
• 21
• 22
• 23

4. If your answer in number 3 is the lowest age to be considered when applying for auto loan, then what is the highest upon maturity?

• 50
• 55
• 60
• 65

5. TRUE or FALSE. TIN & PhilHealth IDs are accepted as secondary IDs.

• True
• False

6. For borrowers who cannot sign due to being out of the country, the following documents are needed: Passport, Signed Consent Letter and, Selfie with the Signed Letter

• True
• False

7. What is the minimum loan amount of loan that can be considered?

• P50,000
• P100,000
• P150,000
• P200,000

8. What is the maximum term for a ROPA financing transaction?

• 6 months
• 12 months
• 24 months
• 48 months

9. What is the minimum down payment in % for a ROPA financing transaction?

• 10%
• 15%
• 20%
• 25%

10. The following are common requirements to process an auto loan, except:

• Payment of Fees/Charges/DP
• Borrower's Certificate
• Birth Certificate
• PO ATD/Credit Advice