Li Olsen MCQ Online Assessment

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School

The University of Adelaide *

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Course

4070BWT

Subject

Management

Date

Feb 20, 2024

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pdf

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4

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21/09/2023, 10:18 Online Assessment https://www.aamctraining.edu.au/InternationalCourse/ExaminationManagement/ResultManagement.aspx 1/4 Learning Centre Logout THANK YOU FOR COMPLETING THE MULTI-CHOICE TEST! S.NO. Question Answer Given 1 You must have open the Li Olsen MCQ Guide & Assessment from your assessment list.. Refer to the Li Olsen Case Ctudy Scenario embedded there to answer the following questions. Mary and Bob listed their assets in their Statement of Assets and Liabilities. Choose the three correct asset statements. Mary and Bob have a joint savings account with a balance $80,000 (CBA). Mary has an account with $32,000 (CBA) and Bob has an account with $5,000 (ANZ). 2018 Toyota Kluger GX (4 X 2) $28,000 (Bob) Student Number : 61627 Student Name : Daniel Wu Course : FNS50322 Diploma of Finance and Mortgage Broking Management Assessment : Li Olsen SOCA MCQ Total Questions : 17 Marks Obtained : 17 Result: Satisfactory Attempts:2/5 Back to Content And Assessments Dashboard Back to Learning Centre - Online Course Content
21/09/2023, 10:18 Online Assessment https://www.aamctraining.edu.au/InternationalCourse/ExaminationManagement/ResultManagement.aspx 2/4 Superannuation (Mary) $25,000 2 In the Case Study Mary and Bob told you their financial priorities. Select the two correct ones. Interest is fixed rate Pay off their loan in 5 years 3 Select the total monthly liability commitment determined by the lender for Mary and Bob. The Toyota Finance car loan repayment for Bob is $475 and the estimated monthly credit card payment for Bob’s Credit card of $4,000 is $152.80. Marys estimated monthly credit card payment is $152.80 for her $4,000 limit. 4 From Mary and Bob's Asset and Liability statement select the correct liability balance outstanding. $27,300 5 Gross annual income for Bob is $109,500 and for Mary is $82,008. Select the one correct monthly gross income that you need to input into the application. Bob’s gross income per month is $9,125 and Mary’s gross income per month is $6,834. 6 Refer to Mary and Bob's scenario, select the total declared monthly living expenses. Total monthly declared expenses are $3,343 7 Refer to Mary and Bob's scenario, select the one recommended loan. Plenti Personal Loan – Excellent Credit (fixed) 8 Refer to Mary and Bob's scenario, select the recommended loan amount. $20,000
21/09/2023, 10:18 Online Assessment https://www.aamctraining.edu.au/InternationalCourse/ExaminationManagement/ResultManagement.aspx 3/4 9 Refer to Mary and Bob's scenario, select the recommended loan term. 5 years 10 Refer to Mary and Bob's scenario, select the correct monthly repayment amount. $381.47 11 Refer to Mary and Bob's scenario and the Capabilities section of the Product Comparison report. Select the two statements that shows the recommended loan meets Mary and Bob's needs. Mary and Bob want to be able to make additional loan repayments. Mary and Bob want to be able to pay off the loan early without penalty fees. 12 Using Mary and Bob's Product Comparison Report, select the one statement that confirms the interest rate recommendation meets their request. Plenti Personal Loan -Excellent Credit (fixed) had a competitive advertised rate of 5.44% pa fixed rate. 13 Refer to Mary and Bob's scenario. Select the one correct statement as to why Mary and Bob want a fixed interest loan. Fixed rates are important to them to avoid any rate increases over the life of the loan and to help them with their budgeting. 14 Select the two correct answers that demonstrate Mary and Bob's financial understanding. As a broker you would feel comfortable that Mary and Bob have a good level of financial awareness if they expressed themselves by saying… We have each previously paid off a personal loan and managed them well. We have our budget worked out and know we can pay it off comfortably but are planning to pay it off earlier.
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21/09/2023, 10:18 Online Assessment https://www.aamctraining.edu.au/InternationalCourse/ExaminationManagement/ResultManagement.aspx 4/4 15 Check Bob's signature and choose which signature matches the scenario and/or the application. A 16 Mary and Bob need to acknowledge the SOCA by signing, dating and entering their legal names. Select the one correct answer. Bob Peter Olsen and Mary Ann Li 17 Select the one correct statement regarding maintaining promotional, product knowledge and compliance updates. You must use the latest version of your broker software and compliance documents to ensure you are constantly updated.

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