Unit quiz: Qualifying a prospect honestly: screening, declines and re-applying

Check understanding, separately from reading

5 questions · 80% to pass · no timer. This quiz checks the lessons in this unit. These authored questions assess recognition and application of the taught distinctions, not professional qualification. You may review the lessons and retry. Repeat attempts reuse the question bank; a remembered answer is not proof of transfer to a new situation.

Saving a lesson records reading only. Previous lesson completions have not been converted into passing scores. You can continue reading without a pass; the assessment remains unpassed.

Question 1

A harvester with 11 months of operating history, two open advances and three of the twelve statement months supplied asks you to “just submit it and see.” What is the defensible action?Run the screen, write a dated note naming the tenure gap, the two open obligations and the missing months as the blocking items, and state the amount the supplied evidence supports instead of submitting.Submit the application because a decision is faster than a document request and the funder may weigh the file differently than you do.

Question 2

A file has no UCC or lien search on record, tax transcripts unrequested, and four of twelve statement months outstanding. How should these be classified and routed?Fixable conditions requiring payoff arrangements, so the merchant should be given an amount and a payment schedule for each one.Documentation-only gaps: they close with searches, transcript orders and statements, involve no payment, and should be ordered this week while any substantive conditions are being worked.

Question 3

A funder notifies a merchant of a decline with the single sentence that the file “did not achieve a qualifying score on our credit scoring system.” The merchant's revenue is $2.2 million. What does the regulation require and what should you do?Tell the merchant the stated reason is expressly insufficient and that a written statement of specific reasons may be requested under the larger-business track, with the request addressed to the creditor within the statutory window.Tell the merchant the reason is sufficient because scoring systems are protected and the funder is not obliged to explain them.

Question 4

A merchant's existing advance has eighteen weeks left at $1,300 a week and she wants a new $30,000 facility now. What is the strongest argument for deferring eight weeks?Deferral improves the credit score, which is the first screen most funders apply to a file of this size.Deferral removes the overlap: the eight-week wait cuts the old balance from $23,400 to $13,000, so the ten weeks in which combined remittances run at 29.59 percent of receipts disappear from the new term entirely.

Question 5

A merchant with $11,538.46 of weekly receipts and $4,038.46 of weekly contribution wants a $25,000 advance while an advance with $27,000 outstanding still runs at $2,250 a week. What figure settles the “nothing really changes” claim?The combined load: $2,250 plus a new $1,642.86 is $3,892.86 a week, or 96.39 percent of weekly contribution with coverage of 1.04, and coverage falls to 0.88 with a $460.16 weekly shortfall after a fifteen percent sales decline.The total repayment amount of the new advance alone, since overlapping payments are separate obligations and each should be judged on its own term.

Continuing does not mark this assessment passed.

Progress stays in this browser, on this device—not an account or cloud backup. Clearing browser data removes it. Visits never count as study. Previous untimed legacy completions are not invented as study days.