Manulife Fun Times

Underwriting

100

What is the maximum GDS and TDS on a high ratio mortgage? 

39/44

200

What are the 5cs of credit? 

Capacity, Credit, Character, Capital and Collateral.

300

What is the maximum fixed rate sub accounts can you have in a Manulife one standard mortgage? 

2 sub accounts 

400

How much net business income must one applicant have to be eligible to qualify under the SBO program?

  

$25000

500

List the four criteria for a Standard Manulife One to qualify for Preferred Pricing for new mortgages and limit increase applications?

1. _{Minimum credit score of 700 for the Primary Applicant.}
2. _{Debt Servicing Ratios must be less than a GDS 39% and a TDS of less than 44%. Forced debt consolidation is permitted when the TDS ratio is less than 44% after payouts.}
3. _{Minimum required advance at the time of funding is $100,000. In other words, the debt in the Main Account plus debt in sub-account(s) must equal at least $100,000 at funding.}
4. _{A minimum of 25% of the advance must be in the Main Account.}

Manulife One

100

What are the # of  sub-accounts available in 1st position? And what is the minimum amount? 

Clients can have a maximum of five term sub-accounts. $5000

200

True or False: 

Term sub-accounts are available on Manulife One accounts in 2nd position.

False 

300

Judy is applying for a Standard Manulife One at 80% LTV. The value of her home is $425,000. What dollar amount must be allocated to a non-readvancing sub account?

$63750

400

True or False: 

When a client wants to change their amortizing variable rate sub-account to a fixed rate sub-account, the term on the new fixed rate account must be equal to or greater that the remaining term of the variable rate sub-account.

True 

500

How does the TD Flexline or Scotia Step differ from our Manulife One program? 3 answers 

With the competitors, the transaction account is separate. 

Competitors calculate interest on and average monthly balance.

There is no right of survivorship. 

Team

100

Who on our team volunteered as a fire fighter? 

Terry 

200

Who are our team used to March in parades as a batonist?

Janice 

300

Who on our team used to play the Trombone? 

David 

400

Who has 2 master degrees in Finance and IT?

Rahul 

500

Who on our team had the opportunity to golf with Hockey Legend – Bobby Orr? 

Bart 

Countries

100

Which European country is home to the Eiffel Tower?

Paris 

200

What is the largest country by land area in Africa?

Algeria

300

Which country is known as the "Land of the Rising Sun"?

Japan 

400

Which country is home to the world's highest mountain, Mount Everest?

Nepal 

500

In which country would you find the famous landmark of Machu Picchu?

Peru 

Random

100

What is the largest ocean on Earth? 

The pacific ocean 

200

Who painted the Mona Lisa? 

Leonardo da Vinci 

300

Who holds the record for the most home runs in Major League Baseball? 

Barry Bonds 

400

Who wrote the famous novel "To kill a Mockinbird"?

Harper Lee 

500

Which band did John Lennon and Paul McCartney belong to? 

The beatles