Salesforce Exam 201 Commercial Banking Functional Topic 1 Question 41 Discussion

Actual exam question for Salesforce's 201 Commercial Banking Functional exam

Question #: 41
Topic #: 1

[All 201 Commercial Banking Functional Questions]

Covenants are automatically marked active when:

AThe loan is paid off

B30 days before the Next Evaluation Date

CThe Loan is Booked

Show Suggested Answer

Suggested Answer: C

by Emelda at Jul 05, 2024, 11:11 AM

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Armando

4 months ago

C, all the way. Covenants are like the spicy salsa of the loan world - you gotta have 'em from the very beginning!

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Sherly

4 months ago

B, for sure. 30 days before the evaluation date seems like the perfect time to activate those covenants. Gotta stay on top of that stuff, you know?

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Oneida

4 months ago

This question is making my head spin. I'm just going to guess and hope for the best. Maybe I should have studied more...

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Evangelina

4 months ago

I'm gonna have to go with A. What's the point of a covenant if it's not active until the loan is paid off? That's just silly.

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Rene

4 months ago

Definitely C. The covenants are marked active when the loan is booked, not when it's paid off or before the evaluation date. Easy peasy!

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Myra

3 months ago

Yes, that's correct. It's important to remember when the covenants become active.

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Alex

4 months ago

I agree, it's definitely C. The covenants are marked active when the loan is booked.

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Elke

5 months ago

That's true, it could be that option as well. It depends on the specific terms of the loan agreement.

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Lang

5 months ago

Hmm, I'm not sure about this one. I want to say C, but I could be wrong. Guess I need to review my loan covenant knowledge.

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Yaeko

4 months ago

C) The Loan is Booked

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Reena

4 months ago

B) 30 days before the Next Evaluation Date

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Arthur

4 months ago

A) The loan is paid off

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Cyndy

5 months ago

But the answer options include 30 days before the Next Evaluation Date too.

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Elke

5 months ago

I believe it's when the loan is booked.

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Arlie

5 months ago

I think it's B. The covenants are marked active 30 days before the Next Evaluation Date. That makes the most sense to me.

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Felicidad

4 months ago

Actually, I think it's C. The covenants are marked active when the loan is booked, not 30 days before the evaluation date.

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Veronica

4 months ago

I agree, I think it's B as well. It gives enough time to review and prepare for the evaluation.

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Cyndy

5 months ago

I think covenants are marked active when the loan is paid off.

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