What is considered the final stage of the origination process?
Select one:
a. Funding
b. Documentation
c. Credit review
d. Collections
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Answer:
, Funding
The last phase of the origination process, the funding audit is a critical step in the final
examination of the executed document package prior to sending money out the door.
While the process for collecting this information may vary depending on origination
model, the standard content for the package and fundamental for the audit are the
same. Reviewing a standard funding package for a small-ticket lease transaction that
is non-titled equipment typically consists of the following contents: Select all that
apply
Select one or more:
a. Certificate of title
b. Verification of executed documents
c. Invoice
d. UCC-3
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Answer:
Verification of executed documents, Invoice
In determining the desired debt structure, what are some goals that management
strives to achieve? Select all that apply
Select one or more:
a. The highest overall cost of funds
b. Flexibility to fund the amount and type of leases originated
c. A satisfactory assets-to-debt ratio
d. Short- and long-term positive cash flow
Give this one a try later!
, Answer:
Short- and long-term positive cash flow, Flexibility to fund the amount and
type of leases originated
Generally speaking, pursuant to the Supremacy Clause, __________ law always takes
precedence over __________ law.
Select one:
a. Federal; state/local
b. Municipal; state/local
c. State; federal
d. Federal; international
Give this one a try later!
Answer:
Federal; state/local
In the context of external funding, what does 'securitization' mean?
Select one:
a. The term securitization is used to describe the aggregation of similar types of assets
(e.g., equipment leases) into a legal structure whereby the assets are used as
collateral to support a bond or note.
b. The term securitization is used to describe the aggregation of unrelated types of
assets into a legal structure whereby the assets are used as collateral to support a
lease.
c. The term securitization is used to describe the inclusion of one large tangible asset
(e.g., an airplane) into a legal structure whereby the asset is used as collateral to
support a bond or note.
d. The term securitization is used to describe the aggregation of similar types of
Select one:
a. Funding
b. Documentation
c. Credit review
d. Collections
Give this one a try later!
Answer:
, Funding
The last phase of the origination process, the funding audit is a critical step in the final
examination of the executed document package prior to sending money out the door.
While the process for collecting this information may vary depending on origination
model, the standard content for the package and fundamental for the audit are the
same. Reviewing a standard funding package for a small-ticket lease transaction that
is non-titled equipment typically consists of the following contents: Select all that
apply
Select one or more:
a. Certificate of title
b. Verification of executed documents
c. Invoice
d. UCC-3
Give this one a try later!
Answer:
Verification of executed documents, Invoice
In determining the desired debt structure, what are some goals that management
strives to achieve? Select all that apply
Select one or more:
a. The highest overall cost of funds
b. Flexibility to fund the amount and type of leases originated
c. A satisfactory assets-to-debt ratio
d. Short- and long-term positive cash flow
Give this one a try later!
, Answer:
Short- and long-term positive cash flow, Flexibility to fund the amount and
type of leases originated
Generally speaking, pursuant to the Supremacy Clause, __________ law always takes
precedence over __________ law.
Select one:
a. Federal; state/local
b. Municipal; state/local
c. State; federal
d. Federal; international
Give this one a try later!
Answer:
Federal; state/local
In the context of external funding, what does 'securitization' mean?
Select one:
a. The term securitization is used to describe the aggregation of similar types of assets
(e.g., equipment leases) into a legal structure whereby the assets are used as
collateral to support a bond or note.
b. The term securitization is used to describe the aggregation of unrelated types of
assets into a legal structure whereby the assets are used as collateral to support a
lease.
c. The term securitization is used to describe the inclusion of one large tangible asset
(e.g., an airplane) into a legal structure whereby the asset is used as collateral to
support a bond or note.
d. The term securitization is used to describe the aggregation of similar types of
