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FLOT COMPREHENSIVE TEST STUDY GUIDE 2024 | 150 QUESTIONS | WITH ACTUAL SOLUTIONS!!
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FLOT COMPREHENSIVE TEST STUDY GUIDE 2024 | 150 QUESTIONS | WITH ACTUAL SOLUTIONS!!
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FLOT COMPREHENSIVETEST STUDY GUIDE
2024 | 150 QUESTIONS
| WITH ACTUAL
SOLUTIONS!!
FLOT
Evatee 10/11/24 FLOT
,FLOT COMPREHENSIVE TEST STUDY GUIDE
2024 | 150 QUESTIONS | WITH ACTUAL
SOLUTIONS!!
Advances under a GTD line of credit loan can be made up until the final
maturity date of the loan Answer - False, until the day before. But not maturity
date
T/F: A * preceding the description of an item of equipment indicated that FSA
has a purchase money interest in that & this will flow to the security
agreement. Answer - True
Why is it important to record all discussion what the customer says in the
running record? Answer - 1. To document discussions with customer in case a
follow up is needed.
2. Any FSA employee can access & get history on customer.
3. It is required
Which of the following items are required in general info at the time you set up
a customer in FBP? Answer - FBP account type
Borrower type
Year started farming
Type of operation
The minimum margin of collateral the loan needs on the collateral analysis for
any FSA loan is? Answer - 1.00 or 100%
, Prior liens must be addressed in the collateral analysis when? Answer - First
T/F: Each credit presentation must have an approval decision and only credit
presentations with a "rejected" status will be available for selection in DLS.
Answer - False
T/F: A customer first needs to be input into business partner and flagged as an
active account before added to FBP. Answer - True
How is feasibility for an annual operating loan determined? Answer - 1. Margin
after debt service may be positive or negative
2. Be current income/expense on projection
3. Ending cash on hand is positive
FSA is proposing to make a customer a direct annual OL for a crop expense in
the amount of $75,000. The sales in the income/expense projection are
$150,000. What is the collateral amount for the crop that should be shown on
the collateral analysis? Answer - $75,000
Match: C=Current Bal Sheet, PC=Post Close Bal Sheet, ProF=Pro-Forma Bal
Sheet
____ FSA Term Loan
____ Annual OL
____ Term Subordination
____ Restructuring Answer - PC, C, PC, PC
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