loan officer test
Loan officer test
Loan officer works as a guide to your mortgage process. They can also be
referred as lender loan representative, loan "rep," account executive, and
As loan officer has various responsibilities: like, they solicit loans, they are
the representative of the lending institution, and they represent the borrower
to the lending institution, they have to give some test to attain the position
of loan officer.
To give loan officer test an individual has to have knowledge on:-
Economics and Accounting -- Knowledge of economic and accounting principles and
practices, the financial markets, banking and the analysis and reporting of
Mathematics -- Knowledge of arithmetic, algebra, geometry, calculus, statistics,
and their applications.
English Language -- Knowledge of the structure and content of the English
language including the meaning and spelling of words, rules of composition, and
Clerical -- Knowledge of administrative and clerical procedures and systems such
as word processing, managing files and records, stenography and transcription,
designing forms, and other office procedures and terminology.
Law and Government -- Knowledge of laws, legal codes, court procedures,
precedents, government regulations, executive orders, agency rules, and the
democratic political process.
Customer and Personal Service -- Knowledge of principles and processes for
providing customer and personal services. This includes customer needs
assessment, meeting quality standards for services, and evaluation of customer
Individual who wants to give loan officer test has to have following
Judgment and Decision Making quality. He should have the knowledge to choose an
Mathematics --He should be perfect in calculations.
Speaking --He should have the quality to speak to convey information
Active Listening -- Giving full attention to what other people are saying,
taking time to understand the points being made, asking questions as
appropriate, and not interrupting at inappropriate times.
Reading Comprehension – Should have the capability to read and understand