Credit Administrator Interview Questions and Answers

The disbursement process post login of a new customer involves verifying the customer's information, approving the loan amount, and transferring the funds.

• Verify the customer's identity and information provided during the application process

• Approve the loan amount based on the customer's creditworthiness and financial status

• Transfer the approved funds to the customer's designated account

• Send a notification to the customer confirming the disbursement

Accounts receivable and payables are financial terms used in accounting to track money owed to a company and money owed by a company.

• Accounts receivable refers to the money owed to a company by its customers or clients for goods or services provided on credit.

• Accounts payable refers to the money owed by a company to its suppliers or vendors for goods or services received on credit.

• Accounts receivable is an asset on the company's balance sheet, while accounts payable is a liab...read more

Dealing with cases under consortium finance involves coordinating with multiple lenders and ensuring proper communication and documentation.

• Establish clear communication channels with all consortium members

• Ensure all parties are aware of their responsibilities and obligations

• Coordinate meetings and discussions to address any issues or concerns

• Maintain accurate records and documentation for all transactions

• Monitor the performance of the consortium and address any discrepancies...read more

A Bank Guarantee is a promise from a bank to cover a borrower's debt if they default on a loan or fail to meet other obligations.

• Bank Guarantee is a type of financial instrument used to secure a loan or other financial obligation.

• It is a promise from a bank to pay a specified amount of money to a beneficiary if the borrower fails to meet their obligations.

• Bank Guarantee can be used in international trade to ensure payment for goods or services.

• It can also be used in construct...read more

Collections is the process of recovering unpaid debts from borrowers.

• It involves contacting borrowers who have missed payments

• Negotiating payment plans or settlements

• Taking legal action if necessary

• Maintaining accurate records of all communication and actions taken

• Examples include credit card debt, medical bills, and student loans