Commercial Lending Quiz - How much do you know?

1. All of these are Special Use Properties except:

A. Gas Station
B. Bowling alley
C. Water slide park
D. Strip mall space that is used by a church

2. What does NOI stand for?

A. Negative Operating Income
B. No other Income
C. Net Operating Income
D. Net Operational Interest

3. The only abbreviation that solely to
commercial lending is:

B. 1003

4. What is a Mini-Perm loan?

A. A loan that is permanent, but always under $500,000
B. An interim loan of 2 to 3 years following a construction loan
C. A short term loan of 5 years or less that is permanent
D. None of the above

5. Which of the following is NOTa Market Area

A. Cost per square foot
B. Personal financial statement
C. CAP rate
D. Comps of previous sales

6. The greatest factor in considering a loan for
approval is:

A. Personal financial statement of the borrower
B. The borrowers FICO score
C. Type of property
D. Borrowers income ability

7. The following are all commercial properties except:

A. Dairy Farm
B. Office Complex
C. 1 to 4 Family Dwelling
D. Shopping Mall

8. Paying a referral fee on a funded loan acceptable as long as:

A. Funds are paid in cash
B. You are paying a 1099 employee
C. The funded loan was a commercial loan
D. The lender does not know about it

Email attend@CommercialTrainers.com your answers to this Quiz and if you get 100% correct we will send you a special gift! On email subject line put Quiz.

how can we help you?

Contact us at the Consulting WP office nearest to you or submit a business inquiry online.

I have never worked in the lending industry: to be honest I was intimidated by it. I thought that it would take years to even begin to understand the procedures that are involved. I finally decided to attend a class taught by Mickey O’Brien from www.CommercialTrainers.com He took commercial loan topics and explained them in detail, but in such a way that everyone was able to understand them. I learned to fund and plan on taking the four day live class that CommercialTrainers.com offers in the near future.

Andrew Korzeniewski