Salesforce Exam 201 Commercial Banking Functional Topic 5 Question 51 Discussion

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

Question #: 51
Topic #: 5

[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 Jestine at Oct 22, 2024, 02:52 PM

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Leandro

2 months ago

Wait, there's a 'Next Evaluation Date'? I thought the covenants were just active forever. This exam is getting way too complicated.

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Ivan

2 months ago

It's usually 30 days before the next evaluation date.

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Willie

2 months ago

Got it, thanks for clarifying!

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Kris

2 months ago

So, when is the next evaluation date usually?

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Ressie

2 months ago

Don't worry, the covenants are only active until the next evaluation date.

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Amalia

2 months ago

I'd go with B. Seems like the most logical time to activate the covenants and start keeping tabs on them.

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Stephaine

2 months ago

Haha, paying off the loan? That would be too easy. Definitely not A.

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Bettina

2 months ago

C) The Loan is Booked

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Rolland

2 months ago

B) 30 days before the Next Evaluation Date

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Lucy

3 months ago

C seems like the obvious choice to me. The covenants are activated when the loan is booked, not after it's paid off or before the evaluation.

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Ettie

1 months ago

Oh, I see. Thanks for clarifying. C makes more sense now.

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Jimmie

2 months ago

Actually, it's not B. The covenants are active when the loan is booked, so C is the right choice.

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Cornell

2 months ago

I think it's B, 30 days before the Next Evaluation Date. That's when they become active.

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Arlene

2 months ago

I agree, C is the correct answer. The covenants are indeed activated when the loan is booked.

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Titus

3 months ago

I disagree, I believe the answer is C) The Loan is Booked because that's when the covenants are put in place.

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Sheldon

3 months ago

I'm pretty sure it's B. The covenants are marked active 30 days before the Next Evaluation Date. That's when the lender needs to start monitoring them, right?

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Eric

2 months ago

Definitely, staying on top of the covenants is crucial for both the borrower and the lender.

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Tenesha

2 months ago

So, it's important to keep track of when the next evaluation date is coming up.

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Dusti

3 months ago

Yes, that way the lender can ensure everything is in compliance before the evaluation takes place.

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Stefan

3 months ago

I think you're right. It makes sense to start monitoring the covenants before the evaluation date.

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Lon

3 months ago

I think the answer is B) 30 days before the Next Evaluation Date.

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