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Quick Review 1
  Select the appropriate answer for each question or enter the answer in the blank provided. When you are done, click the button to submit your answers and find out your score.
1. Which of the following customers is an ideal candidate for a Scotia STEP program?
A. The Adamsons have a mortgage with a 60% LVR on a $300,000 home. They are optimistic about their futures, and are looking for a way to borrow money to purchase their dream boat. Interest payments on some of the other Lines of Credit they have seen are higher than they were hoping to pay.
B. The Cheungs are recently married, and scraped together as much money as they could to put down the 25% down payment on their home. Fortunately for them, they have no other debts. They are beginning their careers and have no plans for children or any other major expenses in the next few years.
C. The MacKenzies have amassed debts from a number of sources. They are looking for a way to begin to consolidate their debts and lower their interest payments over the next few years.
D. All of the above
2. With an Insured Scotia STEP program, borrowers can choose from 11 credit products and three mortgage components, for a total of 14 choices.
A. True
B. False

3. Which of the following is a distinctive feature of the Scotia STEP program?

A. It allows customers to lower their borrowing costs
B. It requires only a one-time application
C. It is unique in the marketplace, and is only offered by Scotiabank
 D. All of the above

4. The Kumars are high-ratio customers who are not quite ready to pay their mortgage down to 75%, and are interested in a line of credit. Which Scotia STEP program is ideal for them?
A. The uninsured Scotia STEP program
B. The insured Scotia STEP program
C. The 5 year revolving Scotia STEP program
D. The 10 year revolving Scotia STEP program

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