A friendly group of people looking to share their Hobby!!!
 
HomeFAQSearchRegisterMemberlistUsergroupsLog in

Share | 
 

 Banking Questions

View previous topic View next topic Go down 
AuthorMessage
Guest
Guest



PostSubject: Banking Questions   Thu Jun 24, 2010 1:56 pm

So ... I'm doing my annual employee training at work today and I think I'll post some of my test questions here as I go through the steps. This is a painful 4 hours of online training...zzzz.


Question 1: Home Mortgage Disclosure Act which requires a lender to collect information related national origin of an applicant.

A customer enters a bank branch office to apply for a home loan. WHile completeing the application with the lender the customer refuses to complete the HMDA information on their loan application. The banker must?

A. Not grant the loan
B. Record that the applicant refuses to be cooperative
C. Attempt to complete the application based on visual observation
D. Leave the categories blank
Back to top Go down
Guest
Guest



PostSubject: Re: Banking Questions   Thu Jun 24, 2010 2:14 pm

Topic. Information Security Awareness.

Scenario: Your friend sends you an email at work containing a link to his personal website. He lets you know he has a bootleg copy of Space Marine the movie for download.
Challenge: What should you do?

A. Stream the movie so you can watch it while you work.
B. Tell your friend you are gonna wait for it to be released in a theater and watch it then.
C. Download the movie. If you can do it successfully assume that it is permitted activity.
D. Download the movie to your bank owned lap top and watch it at home later.
Back to top Go down
Warmonger
Initiate
Initiate


Posts : 496
Join date : 2008-06-06
Location : The churning fields of Clark county

PostSubject: Re: Banking Questions   Thu Jun 24, 2010 3:34 pm

question 1: A
question 2: B

Back to top Go down
View user profile
The Madman
Sergeant
Sergeant


Posts : 641
Join date : 2008-09-22
Age : 41
Location : Cincinnati

PostSubject: Re: Banking Questions   Thu Jun 24, 2010 3:48 pm

#1
c

#2
b
Back to top Go down
View user profile http://www.cincyrec.org
Marc
Fantasy Moderator


Posts : 2428
Join date : 2007-08-20
Location : Milford

PostSubject: Re: Banking Questions   Thu Jun 24, 2010 3:59 pm

1. B
2. B
Back to top Go down
View user profile http://cincycag.forumotion.com/
Makari
Supreme Forum Overlord


Posts : 3251
Join date : 2007-11-10
Age : 38
Location : Milford, OH

PostSubject: Re: Banking Questions   Thu Jun 24, 2010 4:28 pm

1: A
2: B

_________________
The footprints made in the sands of time are not made by sitting down... Unless your playing Warhammer WAAAGH!

New times calls for new Records:
Orcs & goblins (3-1-2)
Empire (0-0-0)
6th Edition
Orks (0-0)
Marines (3-1)
Imperial Guard (0-0)
Back to top Go down
View user profile http://myspace.com/makarithraka
Guest
Guest



PostSubject: Re: Banking Questions   Thu Jun 24, 2010 4:54 pm

The Madman would get hired.

Now where is the box for White and Nerdy? Very Happy

Back to top Go down
Marc
Fantasy Moderator


Posts : 2428
Join date : 2007-08-20
Location : Milford

PostSubject: Re: Banking Questions   Thu Jun 24, 2010 5:01 pm

..hey, I'm all about time baby. Mark they refused and move on. I have alot of sh1t to do
Back to top Go down
View user profile http://cincycag.forumotion.com/
Makari
Supreme Forum Overlord


Posts : 3251
Join date : 2007-11-10
Age : 38
Location : Milford, OH

PostSubject: Re: Banking Questions   Thu Jun 24, 2010 5:13 pm

So it requires the information, and doesnt matter if its wrong? on question 1?

_________________
The footprints made in the sands of time are not made by sitting down... Unless your playing Warhammer WAAAGH!

New times calls for new Records:
Orcs & goblins (3-1-2)
Empire (0-0-0)
6th Edition
Orks (0-0)
Marines (3-1)
Imperial Guard (0-0)
Back to top Go down
View user profile http://myspace.com/makarithraka
Guest
Guest



PostSubject: Re: Banking Questions   Thu Jun 24, 2010 5:31 pm

Marc is now in violation of the Fair Housing Act.

Sean...you are Required to guess based visually and surname if the app is in person.

If by phone you can mark customer refused.
Back to top Go down
The Madman
Sergeant
Sergeant


Posts : 641
Join date : 2008-09-22
Age : 41
Location : Cincinnati

PostSubject: Re: Banking Questions   Thu Jun 24, 2010 5:54 pm

John Gemrich wrote:
The Madman would get hired.

Now where is the box for White and Nerdy? Very Happy

I sort of cheated

Befor I bought my home I took about 3 months worth of finiancial education classes

it looks like most of know the right thing to do in regards to computer usage and stuff... but there are officials EVERY day being put out because they just don't believe computers are as 'traceable' as they think
Back to top Go down
View user profile http://www.cincyrec.org
wittdooley
Veteran Sergeant
Veteran Sergeant


Posts : 1125
Join date : 2008-03-27
Age : 33
Location : Cincinnati / Western Hills

PostSubject: Re: Banking Questions   Thu Jun 24, 2010 11:40 pm

John Gemrich wrote:
Marc is now in violation of the Fair Housing Act.

Sean...you are Required to guess based visually and surname if the app is in person.

If by phone you can mark customer refused.

Sounds like racial profiling. Excellent.
Back to top Go down
View user profile
Guest
Guest



PostSubject: Re: Banking Questions   Fri Jun 25, 2010 8:30 am

wittdooley wrote:
John Gemrich wrote:
Marc is now in violation of the Fair Housing Act.

Sean...you are Required to guess based visually and surname if the app is in person.

If by phone you can mark customer refused.

Sounds like racial profiling. Excellent.

Not at all... Race doesn't come into the lending decision. The gov't uses the HMDA (Home Mtg Disclosure) data to determine whether a bank has disparate treatment.

So take a broad look at a loan portfolio and anyone listed as "Black" on their application.

If, this group has higher rates for simlar FICO bands, LTV, and loan amounts then borrowers listing "White" then the bank will be in big trouble.

So while it seems like profiling, it is but not for the lending decision but in order to ensure disparate treatments are not occuring during the lending process and on the final loan.

As an applicant, you may feel that way, but you have to understand the application is a Government form (HUD Form 1003).

The Government also looks at other types of lending policies. ie. I choose to apply a universal rule that I will not make a loan under 75,000. If I can not make a loan profitably under that amount (burden of proof on financial institution) then the financial institution is fine.

However, if I can make loans profitably under 75K the gov't will come in and say your policy is creating disparate treatment in the market place for certain racial groups as these groups, through census data, earn less and are less likely to qualify for housing at higher loan amounts. So while the policy is applies universally to all applicants... the impact of the policy is greater to the certain racial groups. So it would be illegal.
Back to top Go down
LOXMYTHIC
Neophyte


Posts : 155
Join date : 2010-01-16
Location : FLATLANDS OF FAIFIELD

PostSubject: Re: Banking Questions   Fri Jun 25, 2010 11:42 am

Kinda funny the govt makes you give loans to people that have no way of paying it back- then when your bank has finacial trouble the same govt says "Why did you give loans to people that cant pay it back?" And act like its the banking industry that is the problem when they started the whole mess. (I'm not going to get pulled over by the tangent police am I?)
Back to top Go down
View user profile
Guest
Guest



PostSubject: Re: Banking Questions   Fri Jun 25, 2010 12:20 pm

LOXMYTHIC wrote:
Kinda funny the govt makes you give loans to people that have no way of paying it back- then when your bank has finacial trouble the same govt says "Why did you give loans to people that cant pay it back?" And act like its the banking industry that is the problem when they started the whole mess. (I'm not going to get pulled over by the tangent police am I?)

No... Gov't doesn't want us to make bad loans but they do encourage lending to all groups. Income is not a race so you still have to pass income and credit worthyness hurdles. However, the gov't certainly encourages types of CRA lending (community reinvestment act) and the FNMA guides were very loose on DTI in order to get ppl in houses. The Gov't liked that.

I love being public enemy number 1.
Back to top Go down
wittdooley
Veteran Sergeant
Veteran Sergeant


Posts : 1125
Join date : 2008-03-27
Age : 33
Location : Cincinnati / Western Hills

PostSubject: Re: Banking Questions   Fri Jun 25, 2010 12:50 pm

John Gemrich wrote:
LOXMYTHIC wrote:
Kinda funny the govt makes you give loans to people that have no way of paying it back- then when your bank has finacial trouble the same govt says "Why did you give loans to people that cant pay it back?" And act like its the banking industry that is the problem when they started the whole mess. (I'm not going to get pulled over by the tangent police am I?)

No... Gov't doesn't want us to make bad loans but they do encourage lending to all groups. Income is not a race so you still have to pass income and credit worthyness hurdles. However, the gov't certainly encourages types of CRA lending (community reinvestment act) and the FNMA guides were very loose on DTI in order to get ppl in houses. The Gov't liked that.

I love being public enemy number 1.

I think you misunderstood me. I was excited about the prospect of legal profiling
Back to top Go down
View user profile
Sponsored content




PostSubject: Re: Banking Questions   Today at 9:49 pm

Back to top Go down
 
Banking Questions
View previous topic View next topic Back to top 
Page 1 of 1
 Similar topics
-
» Banking Questions
» Space Marine Termie Command Squad NooB Questions
» Star Wars toy questions from Target Catalogue
» Questions on the Periodic Table
» Couple of general questions

Permissions in this forum:You cannot reply to topics in this forum
CAG :: General :: The open house-
Jump to: