Active Servicing - E2 - Mid Level

Nidhi Yadav (1725049@tcs.
com)
Status : Pass
Assessment Date : 27-04-2023 03:38:59 (GMT+05:30)
Performance Level : Excellent
48.00 50.00 40.00 96.00 E

Your Total Assessment Cut-Off marks Your Performance
Score Score (Pass Marks) Percentage Category
This report helps you to achieve your targets as per

below stated objectives:
Improve your conceptual understanding
Address specific areas of improvement personalized to you
Performance Categories
Based on the performance of the students, we have framed the following categories to place you in accordance with your performance
Performance Category Definitions
Excellent
Outstanding level of performance indicates that the candidate has done excellent work and mastered the concepts.
High
High level of performance indicates that the candidate has done above average work and mastered almost all the concepts.
Moderate
Acceptable level of performance indicates that the candidate has done average work and has mastered many of the concepts.
Low
Needs improvement in performance indicates that the candidate has done and mastered very few or none of the concepts.
Performance Criteria
PERFORMANCE CATEGORY RANGE
Excellent 91% to 100% of Max Marks
High 81% to 90% of Max Marks
Moderate 61% to 80% of Max Marks
Low Below 60% of Max Marks
Performance Category based on student marks
SECTION (GROUP) EXCELLENT HIGH MODERATE LOW
Section A (Group 1) 45.50 and above 40.50 to 45.00 30.50 to 40.00 Below 30.00
Overall Score 45.50 and above 40.50 to 45.00 30.50 to 40.00 Below and equal to 30.00
Where do you stand?

SECTION (GROUP) SCORE PERFORMANCE CATEGORY
Section A (Group 1) 48.00 / 50.00 E
Overall Score 48.00 / 50.00 E
Recommendations and Suggestions

1. Based on your overall scores:
Your overall score falls in the E category. Congrats and try to increase accuracy and speed to score more.
2. Based on your section-wise performance:
You seem to be strong in Section A. So it is suggested that you attempt Section A section first
3. Some general suggestions to optimize your score:
The best performers plan and allocate equal time to each section.
Overall Performance Analysis

The below table shows section-wise analysis of marks scored by you vs your peers who cleared the assessment, time spent by you vs your peers who cleared the assessment, your percentage,
your accuracy and number of correct, incorrect, unanswered and marked for review questions.
TIME AVERAGE
SECTION MARKS AVERAGE SPENT BY TIME SPENT YOUR SECTION YOUR TOTAL MAX NO OF QUESTIONS MARKED
SCORED MARKS OF SECTION QUESTIONS - CORRECT INCORRECT UNANSWERED FOR
(GROUP) BY YOU OTHERS YOU (IN BY OTHERS (IN PERCENTAGE ACCURACY QUESTIONS TO ATTEMPT ATTEMPTED REVIEW
MINS) MINS)
Section
A (Group 48.00 28.74 25:13 18:21 96.00% 96.00% 50 50 50 48 2 0 0
1)
Total 48.00 28.74 25:13 18:21 96.00% 96.00% 50 50 50 48 2 0 0
Note:The percentage (%) and accuracy below the prescribed values (60 %) are shown in red color
Below pie-chart shows section-wise percentage of marks scored and bar graph gives a comparison of your marks with your peers who cleared the assessment
Section-wise marks Your marks Vs Avg marks of others
50
40
30
20
10
Section A, 48 0
...
on
cti
Se
Your marks
Average marks of others who cleared this assessment
Section A
Impact of Incorrect Responses

Below table provides the marks lost due to incorrect responses.
SECTION(GROUP) NUMBER OF INCORRECT RESPONSES MARKS LOST DUE TO INCORRECT RESPONSES TOTAL SCORE IF INCORRECT RESPONSES WERE NOT MARKED
Section A(grp1) 2 0 48
Overall 2 0 48.00
In order to attempt more accurately, consider the following suggestions while attempting the questions:
1. If you are not able to solve a question correctly or have doubts in your approach towards the solution, skip it for later.
2. Quickly revise the steps for avoiding calculation or casual mistakes.
3. Avoid guesswork.
Time Management
Below table shows the time you spent in each section and the average time spent by others(students who cleared this assessment).
SECTION (GROUP) TIME SPENT BY YOU (IN MINS) AVERAGE TIME SPENT BY OTHERS (IN MINS)
Section A (Group 1) 25:13 18:21
Total time spent 25:13 18:21
Time Level Analysis
Recommendations
1. It is essential for each aspirant to plan and schedule time for each section diligently. This is important to score well in each section and ultimately meet the cut-off.
2. This will also help you in attempting all the questions in each section and hence not missing the opportunity to score more.
Response Change Pattern

Below table provides the number of times you have changed your responses while answering the test and also the nature of those response changes.
SECTION(GROUP) CORRECT TO INCORRECT INCORRECT TO CORRECT INCORRECT TO INCORRECT CORRECT TO UNANSWERED INCORRECT TO UNANSWERED
Section A (Group 1) 0 0 0 0 0
SECTION(GROUP) CORRECT TO INCORRECT INCORRECT TO CORRECT INCORRECT TO INCORRECT CORRECT TO UNANSWERED INCORRECT TO UNANSWERED
Overall 0 0 0 0 0
It is suggested that guesswork should be avoided for any type of response changes. It has been observed that more often than not, guesswork leads to an incorrect response thereby inviting
negative marks which in turn has an adverse effect on the overall rank.
You must use your knowledge, observation and elimination skills to arrive at the correct answer.
Interpretation and Suggestions

1. Incorrect to incorrect response change:
You may need to work more on the concept level, in order to gain confidence.
2. Incorrect to correct response change:
At the first glance you were not very sure about the solution.
You must spend at least 1 minute per question and if you are not able to reach to the solution, you must revisit the question to enhance your score.
Perform this response change only when you are confident or have spotted a mistake in the solution of your first response.
3. Correct to incorrect response change:
You are not sure of the solution and have either applied a wrong concept or made a calculation mistake.
You need to practice more questions on the same concept.
4. Correct to unanswered response change:
You are not sure of the solution
You need to practice more questions on the same concept.
Perform this response change only when you are not confident of your solution.
You must try to spend at least 1 min before leaving it unanswered.
5. Incorrect to unanswered response change:
Your judgment of avoiding negative marks is right.
You must try to spend at least 1 min before leaving it unanswered.
Attempt Level Analysis

Below graphs provides the attempt level analysis on time and score.
Attempt Level Score Analysis
50
48
40
30
Score
20
10
0 0
0
Attempt 1 Attempt 2
Attempts
Section A
Overview: Section A
The below table provides your marks in Section A along with the average marks scored by the others (students who cleared this assessment) and the marks scored by the topper.
MARKS SCORED AVERAGE MARKS OF SECTION A HIGHEST SECTION A MARKS SCORED BY YOUR SECTION YOUR SECTION TIME SPENT BY YOU AVERAGE TIME SPENT BY
BY YOU OTHERS SCORE THE TOPPER PERCENTAGE ACCURACY (IN MINS) OTHERS (IN MINS)
48.00 / 50.00 28.74 / 50.00 50.00 / 50.00 50.00 / 50.00 96.00% 96.00% 25:13 18:21
Note:The percentage (%) and accuracy below the prescribed values (60%) are shown in red color
Question wise Analysis
Correct, 48
Marked for Review, 0

UnAnswered, 0
InCorrect, 2
Correct InCorrect UnAnswered Marked for Review
Performance Analysis: Section A

1. The below table analyzes your performance at question level and presents it in terms of :
Difficulty Level
2. It highlights conceptually strong and improvement areas within the section and areas that require reinforcement of concepts.
3. The accuracy of the response to each question and time spent are correlated and interpreted in terms of expert advice on preparedness level.
Question wise details

Please click on question to view detailed analysis
= Not Evaluated = Evaluated = Correct = Incorrect = Not Attempted = Marked for Review = Answered
= Correct Option = Your Option
Question Details
Q1. The Closing Disclosure form consolidates the final Truth in Lending disclosure with the HUD-1 and must be delivered to the
consumer at least __________ business days prior to the scheduled closing date.
Status : Correct
Options :
1. Four
2. Three
3. Five
4. Two
Timespent (in sec): 0 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Comments: You are on the right preparation track on this topic.
Q2. The Government National Mortgage Association (GNMA), or Ginnie Mae, was established to promote ________________
Status : Correct
Options :
1. Assets Ownership
2. Home ownership
3. Refinance
4. Modification
Q3. ________________is one of the key risk factors that lenders assess when qualifying borrowers for a mortgage.
Status : Correct
Options :
1. Combined Loan to Value

2. Loan to Value
3. High Combined loan to Value
4. Debt to Income Ratio
Q4. _____________________________guarantees the accuracy of documentation to determine whether the loan is eligible for sale in secondary market and also
assures loans are not unnecessarily rejected.
Status : Correct
Options :
1. Field Audit
2. Post Close Audit
3. Form 1073
4. Form 1005
Q5. FHA loans are designed for
Status : Correct
Options :
1. Low-to-moderate income borrowers
2. High-to-moderate income borrowers
3. Medium-to-moderate income borrowers
Q6. For FHA loans what is the percentage where the applicants can borrow up-to
Status : Correct
Options :
1. 96.7
2. 96.6
3. 96.4
4. 96.5
Q7. Freddie Mac was created to expand the secondary market for mortgages in the US
Status : Correct
Options :
1. TRUE
2. false
Q8. A promissory note is a legal document by which the owner (i.e., the buyer) transfers to the lender an interest in real estate to secure the repayment of a
debt, evidenced by a mortgage note
Status : Correct
Options :
1. TRUE
2. false
Q9. A ________________ is required when the closing documents which are Note and Security Instrument are signed by an Attorney-in-Fact.
Status : Correct
Options :
1. Appraisal
2. Letter of Authorisation
3. Mortgage Insurance certificate
4. Power of Attorney
Q10. Post Close Audit involves auditing of mortgage loan information present in system against the validated loan documents .
Status : Correct
Options :
1. TRUE
2. false
Q11. The difference between the value of the property and the amount owed against the same is the Equity
Status : Correct
Options :
1. TRUE
2. false
Q12. Conventional mortgages may be fixed-rate or adjustable-rate mortgages.
Status : Correct
Options :
1. True
2. False
Q13. The three C's in underwriting are credit, corrateral & ---------------------------.
Status : Correct
Options :
1. Capacity
2. Closing document
3. Communication
4. Conversion
Q14. During a post close review loan with critical or noncritical issues will be moved to ______________ team to resolve document issues.
Status : Correct
Options :
1. Modification
2. Suspense
3. Amortization
4. Short sale
Q15. An assignment of mortgage is a written document which serves as proof of transfer of a loan obligation from the original borrower to a third party
Status : Correct
Options :
1. TRUE
2. false
Q16. Subordination can also be described as an act of agreeing to retaining the current position
Status : Correct
Options :
1. TRUE
2. false
Q17. The ______________________ mortgage market is the market for the sale of securities or bonds collateralized by the value of mortgage loans.
Status : Correct
Options :
1. Primary
2. Secondary
3. Teritary
4. Brokerage
Q18. The mortgage-backed securities industry provides lenders with more cash to make more mortgage loans.
Status : Correct
Options :
1. TRUE
2. false
Q19. A __________________ is a five-page form that provides final details about the mortgage loan which has been selected .
Status : Correct
Options :
1. Promissory Note
2. Appraisal
3. Title policy
4. Closing Disclosure
Q20. HELOC are always adjustable rate
Status : Correct
Options :
1. TRUE
2. false
Q21. A ---------------------------------------- is a legal document giving the title holder three business days to withdraw on a loan.
Status : Correct
Options :
1. CFPB Loan Estimate
2. Right To cancel
3. Assignment
4. Deed in lieu
Q22. Non-conventional lenders are known to take
Status : Correct
Options :
1. No Risk
2. Less Risk
3. Greater Risk
Q23. Two types of Non confirming loans in the market
Status : Correct
Options :
1. Traditional
2. Residential
3. Commercial
4. B & C
Q24. Full form of CEMA
Status : Correct
Options :
1. Consolidation, Extensive and Mortgage Agreement
2. Consolidation, Extension and Modification Agreement
3. Credit, Extension & Modification Analysis
4. Credit, Electronic & Mers Agreement
Q25. A ----------------------------------- is an instrument that transfers real property from one person to another and in which the grantor promises that title is good
and clear of any claims.
Status : Correct
Options :
1. Satisfaction document
2. Insurance Claim check
3. CFPB Closing Disclosure
4. Warranty Deed
Q26. The Government National Mortgage Association (GNMA), or Ginnie Mae, was established in the United States in _________
Status : Correct
Options :
1. 1967
2. 1968
3. 1955
4. 1939
Q27. A HELOC allows the borrower to draw an amount at any time up to some maximum.
Status : Correct
Options :
1. TRUE
2. false
Q28. Which type of mortgage is for older home owners (62 Years or older) that requires no monthly mortgage payments
Status : Incorrect
Options :
1. Conventional
2. Reverse Mortgage
3. Federal Housing Administration
Comments: You have most probably committed a numerical or conceptual mistake or you would have guessed the answer.
Q29. The Federal Home Loan Mortgage Corporation (FHLMC), called as Freddie Mac, is a public government-sponsored enterprise(GSE), it was created in
_______________
Status : Correct
Options :
1. 1991
2. 1980
3. 1970
4. 1975
Q30. Which ratio is a financial term used by lenders to express the percentage of a loan to the value of an asset
Status : Correct
Options :
1. High combined loan to value
2. Debt to income ratio
3. Combined loan to value
4. Loan to value
Q31. The Federal National Mortgage Association (FNMA), frequently known as Fannie Mae, was founded in _________________
Status : Correct
Options :
1. 1938
2. 1937
3. 1947
4. 1950
Q32. Some types of balloon mortgages can be interest only for
Status : Correct
Options :
1. 5 Years
2. 10 Years
3. 15 Years
Q33. Government Investors also known as ___________________________
Status : Correct
Options :
1. Private Enterprises
2. Government Based Enterprises
3. Government Supported Enterprises
4. Government Sponsored Enterprises
Q34. The two types of Audit are Document Audit & Non Critical Audit
Status : Correct
Options :
1. True
2. false
Q35. Post Close Audit falls under mortgage originations
Status : Correct
Options :
1. TRUE
2. false
Q36. Refinancing an existing Lender loan is
Status : Correct
Options :
1. On-us Refinance
2. Off-us Refinance
Q37. A confirming mortgage is equal or less than the amount provided by the confirming loan limit set by the GSE guidelines
Status : Correct
Options :
1. TRUE
2. false
Q38. What is the type of mortgage that is a short term mortgage that requires borrowers to make regular payments for a certain interval then payoff the
remaining balance within a relatively short period
Status : Correct
Options :
1. Conventional Mortgage
2. Recourse Mortgage
3. Balloon Mortgage
Q39. A ------------------------ is a state or municipal-issued document that identifies the owner or owners of personal or real property
Status : Correct
Options :
1. Satisfaction Document
2. Appraisal
3. Title Policy
4. Power of Attorney
Q40. Ginnie Mae’s mission is to expand affordable housing in the United States by channeling global capital into the nation’s housing finance markets
Status : Correct
Options :
1. TRUE
2. false
Q41. Which type of mortgage is in which the interest rate on the note is periodically adjusted
Status : Correct
Options :
1. Fixed Rate mortgage
2. Adjustable - Rate Mortgage
Q42. A _______________________________________ is a legal document used to grant first lien status to a lien holder who would otherwise be secondary to another
party, with the approval of the party that would otherwise have first lien
Status : Correct
Options :
1. Subordination agreement
2. Form 1003
3. Borower Letter of Explanation
4. Source of large deposits
Q43. Secondary mortgage market rises the supply of money available for mortgage lending and _____________the money available for new home purchases
Status : Correct
Options :
1. Increases
2. Decreases
3. Fluctuates
4. Stabilizes
Q44. _____________________involves auditing of loan closing documents by validating all necessary information present in the documents.
Status : Correct
Options :
1. Field Audit
2. Document Audit
3. Post Close Audit
4. CFPB Closing Disclosure
Q45. What is subordination
Status : Correct
Options :
1. The act of a party acknowledging, by written record, that a debt is inferior to the interest of another in the same property
2. The loan which was designed to offer long-term financing to qualified American veterans or their surviving spouses (provided they do not remarry).
3. The act which is calculated by dividing the total recurring monthly debt by gross monthly income and it is expressed as a percentage .
Q46. Full form of CFPB
Status : Correct
Options :
1. Consumer Finance Protection Bureau
2. Customer Finance Protect Bureau
3. Client Financial Protection Bureau
4. Consumer Financial Protection Bureau
Q47. A mortgage is type of a loan in which property or real estate is used as collateral
Status : Correct
Options :
1. True
2. False
Q48. The focus of the TILA-RESPA disclosure guide, published by the ----------------------------- is to provide the instructions for completing the Loan Estimate and
Closing Disclosure.
Status : Incorrect
Options :
1. Code of Federal Regulations
2. Consumer Financial Protection Bureau
3. Gramm-Leach-Bliley Act
4. American Disabilities Act
Comments: You have most probably committed a numerical or conceptual mistake or you would have guessed the answer.
Q49. A__________________________ typically contains all the terms pertaining to the indebtedness by the issuer or maker to the note's payee, such as the
amount, interest rate, maturity date, date and place of issuance, and issuer's signature
Status : Correct
Options :
1. Deed of Trust
2. Promissory note
3. Closing Disclosure
4. Title policy
Q50. Freddie Mac is a not Government Investor
Status : Correct
Options :
1. TRUE
2. false
Your Response Change Pattern: Section A
The below table provides the number of times you have changed your responses to the Section A questions and also the nature of those response changes.
CORRECT TO INCORRECT INCORRECT TO CORRECT INCORRECT TO INCORRECT CORRECT TO UNANSWERED INCORRECT TO UNANSWERED
0 0 0 0 0

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Nidhi Yadav (1725049@tcs.

48.00 50.00 40.00 96.00 E

This report helps you to achieve your targets as per

Performance Category Definitions

PERFORMANCE CATEGORY RANGE

Excellent 91% to 100% of Max Marks

High 81% to 90% of Max Marks

Moderate 61% to 80% of Max Marks

Low Below 60% of Max Marks

Performance Category based on student marks

SECTION (GROUP) EXCELLENT HIGH MODERATE LOW

Where do you stand?

Section A (Group 1) 48.00 / 50.00 E

Overall Score 48.00 / 50.00 E

Recommendations and Suggestions

Overall Performance Analysis

Total 48.00 28.74 25:13 18:21 96.00% 96.00% 50 50 50 48 2 0 0

Impact of Incorrect Responses

Section A (Group 1) 25:13 18:21

Total time spent 25:13 18:21

Time Level Analysis

Response Change Pattern

Interpretation and Suggestions

Attempt Level Analysis

Marked for Review, 0

Correct InCorrect UnAnswered Marked for Review

Performance Analysis: Section A

Question wise details

1. Combined Loan to Value

Q5. FHA loans are designed for

Q12. Conventional mortgages may be fixed-rate or adjustable-rate mortgages.

Q22. Non-conventional lenders are known to take

Q24. Full form of CEMA

Q33. Government Investors also known as ___________________________

Q36. Refinancing an existing Lender loan is

Q46. Full form of CFPB

Q50. Freddie Mac is a not Government Investor

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