ACA JEOPARDY

MARKET DIFFERENCES/FUNDING

100

Do we need a hold check agreement for a deferred DP, in the state of California ( Itemized on TILA section of the RISC)

NO

200

Name 3 out of 6 markets we can accept verbal confirmation for MAJOR MECHANNICAL ISSUES

AutoNation, Mike Maroone, Enterprise, Hertz, AVIS, & Echo Park

300

Which 2 markets do we not need a hold check agreement if made before the first payment date?

Enterprise and AutoNation

400

What market can we use the pre contract disclosure for the buyers order?

Lithia

500

What state do we non need confirmation of possession prior to funding?

Massachusetts 

Exhibits

100

If an indirect is received on a landline that ties back to the business, with POI waived due to risk evaluation. Is an exception needed to proceed with clearing VOE?

Yes

200

Name 3 sources to proceed without the Drivers license ( No ID alerts firing)

POI on file, VOE/CC completed, TLO, CBR, Lexus Nexis.

300

If the taxes do not match on the paystub, but VOE is completed, can we proceed?

Yes

400

Name the 3 ways we can verify a military employment.

LES statement, SCRA, military ID.

500

Income exceptions when the front-end amount financed is equal to or greater than $80,000. Who can clear?

Manager and up

Funding/Underwriting

100

Which title app is not required when the vehicle is new? (California)

Report of sale 

200

What ID can we not accept in Texas?

Matricular Consular

300

What is the minimum ATF for California?

$2500

400

In Colorado, What is the max front end LTV where GAP cannot be sold?

150%

500

What is the maximum motorcycle doc fee?

$200

Market differences/Underwriting

100

Which market accepts 30% DP CASH ONLY to waive POI/POR?

Strategic and STG ( only one needed)

200

What is STG's total product allowance?

$5599

300

How much is Enterprises processing fee?

They do not have one.

400

Which market has asked us to not waive POI/POR for 30% DP?

Hendrick

500

Name the motorcycles types that ACA will finance

touring, cruiser, or 3-wheel motorcycles that have 2 rear wheels. ( We will accept 3-wheel motorcycles only as an answer)

Dealbreakers

100

Name 3 acceptable questions to ask on a fraud call

I will know.

200

What fee percentage must be captured, when a model score drops by 4-6 points? (Reviewing a CDA)

75% minimum

300

When reviewing a  placeholder SSN DB, and a tier 1 call is not present. What is the first step that should be taken?

Decline application

400

Name the first step when reviewing Inflated Trade.

Review the CarFax for the trade vehicle.

500

Name the 3 reasons to turn down a Bankruptcy DB.What is the first step when reviewing inflated trade?

Chapter 13 Bankruptcy open within 6 months of today's date. Pull Carfax on the traded vehicle.

 Chapter 13 Bankruptcy dismissed within 6 months of today's date.

 Multiple Bankruptcy filings (3+)