|A manual waiver can be used to change a payment agreement. Which of the following are true. 3 answers are correct Interest can be waived. Repayments can be waived. Use the manual order to select individual items and determine the waiver amount or percentage per item for a full or partial waiver. Charges can be waived.
Features of a waiver. 3 answers are correct. Unbilled payments may be waived Billed payments may be waived Cleared items may be waived Open items for small amounts may be waived on Fi-CAx using a special report. The report creates a Waiver orders automatically.
Mark the incorrect option for the Waiver process overview. Billing. If you waive a billed item, a billing correction is executed. Due item management. If you waive a billed item, the open items are not adjusted. Adjusted Settlement results. The settlement is recalculated and results are posted. If a settlement has been executed for the waived item, a new settlement date is set to trigger a retroactive change of the settlement results.
The loan account and the clearing account can physically be the same account for simple loans. True False.
In Payment Distribution which of the following scenarios affect the clearing of due items? 3 answers are correct. Overpayment. Expected payment amount < Amount received. Underpayment. Expected payment amount > Amount received. No Match. No payment is received. Exact Match. Expected payment amount = Amount received.
Business operations like Payoff, Recission and Manual renewal results in creation of which of the following? Open items Directives Open Orders Payment Distribution.
The status of the payment distribution item reflects its current status. Match up the available 'status' with a description in the following table. New (status key 01) Process (status key 02) Postprocessing (status key 03) Done (status key 05) Returned (status key 06) Reversed (status key 07) Waiting (status key 04).
Waiting for a response from the open item management system or processed in a Payoff / recission / renewal scenario is: An Asychronous Process A Synchronous Process.
The rule set determines the use of incoming payments depending on the processing sequence. Which usage category is not part of the processing sequence in the rule set Curtailment Directive processing Due item clearing Prepayment Posting control Office (PCO).
Which of the following usage categories are for internal use only and are not to be used in the customization of a rule set. 3 answers are correct. Reversal of Withhold Recission Transfer Prepayment.
The purpose of a payment directive is threefold. Payment directives are used to by-pass the automatic determination of the distribution rule set. They are created manually by the user or automatically by a business operation such as a payoff. The user can define exactly how a payment is to be distributed. For due item clearing.