Finance Test (Neetu Sharma Training Manager Bagga Hyundai)
Finance Knowledge Quiz
Test your understanding of essential finance concepts with our engaging quiz designed for aspiring car loan professionals. This quiz covers key topics to enhance your knowledge in the finance sector.
- 10 carefully crafted multiple-choice questions
- Understand important terminologies
- Assess your readiness for a career in finance
What is an EMI?
The portion of price of a car which is not financed & paid by borrower.
EMI is Equated Montly Installment which is payed by customer to service the loan
Discount received by customer for exchange of old vehicle
Insurance premium paid by customer
Full form of IRR?
International rate of return
Internal rate of return
Internal risks & returns
Internal Return Rate
What is Payout?
Payment to be done by customer
Loan Sanctioned for the vehicle
Commission given by the financier to the DSA
Discount on vehicle given by dealership
What is RAAC?
Rate of Accounting & analysing customer
Rate of Accounting Associated with customer
Risk Assessment & Acceptance Criteria.
None of these
What is subvention?
Free accessories offered by dealership
EMI paid by customer
Discount offered for exchange of vehicle
Retail finance support to customer (through the financier or dealer)
What is Loan to value (LTV)?
Ratio of Invoice price to loan amount
Ratio of interest to loan amount
Ratio of EMI to Loan amount
Ratio of loan amount to the invoice price.
EMI depends upon
Loan Amount
Tenure
Interest rate
All of these
Minimum age required to be eligible to take car loan is
18 yr
21 yr
22 yr
20 yr
What is Security for car loan?
Hypothecation of car financed by bank.
Security system installed in vehicle
Interest on the loan amount
None of these
What is loan multiple?
A number that defines the no. Of installments that would be required to be paid depending upon the EMI
A number that defines the multiple number of times the loan EMI has not been paid
An number multiplied with the gross annual income to calculate the loan eligibility
None of these
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