Question 1
For purposes of the CLFP Handbook, what does "operations" mean?
Select one:
a. The term "operations" refers to the physical location of the equipment finance
organization.
b. The term "operations" refers to the functions involved in customer service, collections,
insurance administration, title administration, and technology specific to equipment finance.
c. The term "operations" refers to the functions involved in funding, customer service,
insurance administration, title administration, and technology specific to equipment finance.
d. The term "operations" refers to the functions involved in funding, compliance, legal,
customer service, insurance administration, title administration, and technology specific to
equipment finance.
CORRECT ANSWER
Answer:
The term "operations" refers to the functions involved in funding, customer service,
insurance administration, title administration, and technology specific to equipment finance.
Question 2
What is considered the final stage of the origination process?
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@THE STUDY VAULT
,Select one:
a. Funding
b. Documentation
c. Credit review
d. Collections
CORRECT ANSWER
Answer:
Funding
Question 3
The most basic resource that all equipment finance companies need is capital. There are
various sources of capital. Capital likely may include the following:
Select all that apply
Select one or more:
a. Borrowed from various external sources.
b. Funds received as personal gifts.
c. Contributed directly by owners as paid-in capital.
d. Grown organically in the form of retained earnings.
CORRECT ANSWER
Answer:
Contributed directly by owners as paid-in capital., Grown organically in the form of retained
earnings., Borrowed from various external sources.
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@THE STUDY VAULT
, Question 4
What is the simplest form of external funding?
Select one:
a. Discounting
b. Asset securitization
c. Brokering
d. Equity and debt
CORRECT ANSWER
Answer:
Brokering
Question 5
What is the most complex form of external funding?
Select one:
a. Discounting
b. Asset securitization
c. Brokering
d. Equity and debt
CORRECT ANSWER
Answer:
Asset securitization
3
@THE STUDY VAULT
For purposes of the CLFP Handbook, what does "operations" mean?
Select one:
a. The term "operations" refers to the physical location of the equipment finance
organization.
b. The term "operations" refers to the functions involved in customer service, collections,
insurance administration, title administration, and technology specific to equipment finance.
c. The term "operations" refers to the functions involved in funding, customer service,
insurance administration, title administration, and technology specific to equipment finance.
d. The term "operations" refers to the functions involved in funding, compliance, legal,
customer service, insurance administration, title administration, and technology specific to
equipment finance.
CORRECT ANSWER
Answer:
The term "operations" refers to the functions involved in funding, customer service,
insurance administration, title administration, and technology specific to equipment finance.
Question 2
What is considered the final stage of the origination process?
1
@THE STUDY VAULT
,Select one:
a. Funding
b. Documentation
c. Credit review
d. Collections
CORRECT ANSWER
Answer:
Funding
Question 3
The most basic resource that all equipment finance companies need is capital. There are
various sources of capital. Capital likely may include the following:
Select all that apply
Select one or more:
a. Borrowed from various external sources.
b. Funds received as personal gifts.
c. Contributed directly by owners as paid-in capital.
d. Grown organically in the form of retained earnings.
CORRECT ANSWER
Answer:
Contributed directly by owners as paid-in capital., Grown organically in the form of retained
earnings., Borrowed from various external sources.
2
@THE STUDY VAULT
, Question 4
What is the simplest form of external funding?
Select one:
a. Discounting
b. Asset securitization
c. Brokering
d. Equity and debt
CORRECT ANSWER
Answer:
Brokering
Question 5
What is the most complex form of external funding?
Select one:
a. Discounting
b. Asset securitization
c. Brokering
d. Equity and debt
CORRECT ANSWER
Answer:
Asset securitization
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@THE STUDY VAULT
