CDFI Basics
What does NCDFI stand for?
What is, Native Community Development Financial Institution
Which of the following is NOT a board responsibility: Fiduciary oversight, Micro-managing, Managing Risk, or Fundraising?
What is, Micro-managing
What are the four key components of financial management?
What is, Planning, Directing, Organizing, Controlling
What is the Statement of Activity also known as?
What is, Income Statement
What does the “C” in CAMELS stand for?
What is, Capital Adequacy
What makes a CDFI unique? Double Bottom line, Development Services, Riskier Lending?
What is, All of the above.
What components make up a Strategic Plan?
What is, Vision, Mission, Goals, Objectives, Workplans
Which statement shows what a CDFI owns and owes?
What is, a Balance Sheet
The loan loss reserve appears on which statement?
What is, balance sheet
What does the “A” in CAMELS stand for?
What is, Asset Quality
List two types of lending products a CDFI can offer.
Examples: What is, Small business loans, consumer loans, housing loans
A Market Analysis helps develop products and services that align with what two things?
What is, The organization’s mission and market
What is the common link between the income statement and balance sheet?
What is, Net Income
When planning capitalization, you should apply for at least what percent of total funds needed?
125%
Which of the following is NOT one of the 5 C’s of Credit Analysis?
What is, Cost of Goods Sold
My organization must be certified to apply for a NACA-TA grant. (T/F)
What is, false
The program design process includes Needs Assessment, Planning, Capitalization, Evaluation Design, and what final step?
What is, Report Impacts
The Statement of Financial Position is also known as what?
What is, a Balance Sheet
Which is NOT part of capitalization planning: Setting goals, Investing in stocks, Developing projections, Identifying gaps?
What is, Investing in stocks
How can you mitigate the risk of a low credit score?
What is, to require technical assistance before/after loan closes
Financial Coaching is a Development Service. (T/F)
What is, true
Name three CDFI certification requirements.
What is, Legally existing entity, Primary mission, Financing entity (others acceptable)
Loans receivable appear where on the financial statements?
What is, Assets
Which of the following should not be included in loan policies?
What is, Procedural steps
Name any two of the 5 C’s of Credit.
What is, Character, Capacity, Capital, Collateral, Conditions