Free Salesforce nCino 201 Commercial Banking Functional Exam 201-Commercial-Banking-Functional Exam Practice Test

True or False? A Change Memo is used to request an approval to change terms, rate, amount, etc. AFTER the Loan has already been approved - but BEFORE the Loan has been closed/booked.

• True
• False

What is configured that determines the approval process a record will go through?

• Original Step
• Entry Criteria
• Beginning Process
• Final approval action

Which of the following are true about the LLC_BI__Fee__c object? (Choose 2)

• It has a Master Detail Relationship up to the Loan object.
• It has a Lookup Relationship up to the Loan object.
• One Fee record is used to store all the Fees for a Loan.
• Every Fee on a loan has a separate unique record to represent that Fee.

In the nCino UI, bold contents contained within a field denotes data:

• That has recently been saved
• That has been entered but not yet saved
• That is incorrect value for the field type it is entered in
• That is used in a formula field elsewhere in the system

When using reports to assist in a data load, which file type should that report be saved as?

• Excel Workbook
• PDF
• CSV MS-DOC
• CSV (Comma Delimited)

After you begin Spreading, what is the first step a user must complete before adding income statements?

• Export the bundle
• Set Fiscal Year End
• Check the Common Sizing box
• Select number of months in a period

When using Spreads, what is the most likely reason an end user is unable to select the Show operations checkbox?

• Spreads was configured incorrectly
• Missing Underwriting Permission Set
• Field level security is too high
• They are not an administrator

True or False? The roles used in loan team member alerts configuration are the standard Salesforce roles.

• True
• False

A loan with loan number 12345 is renewed. This creates a new Loan record with Loan number 12345R-1. When Loan 12345R-1 books the stage is updated to the 'booked' stage. What happens to the original loan's loan number when the 12345R-1 books?

• R-2 is appended to the original loan's loan number
• _ORG is appended to the original loan's loan number
• All appendages are removed from the original loan's loan number
• The original loan is deleted

True or False: The nCino Fees Feature can automatically calculate a fee as a fixed amount or a percentage of some other amount.

• True
• False