DAY 5

What is the BBS Maximum Exposure for credit lending?

• $25,000

• $50,000

• $75,000

• $100,000

What is the required minimum limit of a Business Line of Credit?

• $5,000.00

• $10,000

• $20,000

• $50,000

Which credit product would you select if customer has long term Cashflow issues?

• Business Loan

• Business Credit Card

• Business Overdraft

• Business Line of Credit

Which Credit Product would be best for short term Cashflow Issues? Such as NSFs.. Return cheques... and etc:

• Business Overdraft

• Business Credit Card

• Business Loan

• Business Line of Credit

Why would a customer want a Business Credit Card instead of using their own personal Credit Card?

• Higher limits given

• Better Visa Options offered

• To separate transactions from Personal expense

• it looks better

What Fees must we disclose to a customer for applying for any Business Loan or Line of Credit products? Business Assets Secured (B)

• PPSA Fee

• Set up Fee

• Monthly Fee

• All of the above

What security type offers the highest interest rates on Business Lines of Credit/Loans?

• A (liquid)

• B (Business Assets)

• Partially Secured Residential Real Estate or Liquid Secured (C)

• Personal Guarantee (D)

What province requires the personal guarantee to be certified by a solicitor?

• Ontario

• BC

• Quebec

• Alberta

What are the 3 documents we need to send to our customer to initially apply to any credit product?

• BBSA, Corp Res, Sig card

• Checklist, NPIA, and Sig card

• Privacy Agreement, Personal Financial Statement, and Credit Application

• Credit agreement, Personal and Business Gaurantee

Who must we speak to in order to apply for any credit product?

• Signing Officers

• Directors

• Owners

• Controllers