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Peer-to-Peer Lending Interview Questions & Answers - Learning Mode
COOLINTERVIEW.COM LOAN INTERVIEW QUESTIONS PEER-TO-PEER LENDING INTERVIEW QUESTIONS QUESTIONS & ANSWERS - LEARNING MODE

Peer-to-Peer Lending Interview Questions & Answers - Learning Mode

Peer-to-peer lending, sometimes abbreviated P2P lending, is the practice of lending money to individuals or businesses through online services that match lenders directly with borrowers. Peer-to-peer lending (P2P) is a method of debt financing that enables individuals to borrow and lend money - without the use of an official financial institution as an intermediary. Peer-to-peer lending removes the middleman from the process, but it also involves more time, effort and risk than the general brick-and-mortar lending scenarios. The advantage to the lenders is that the loans generate income in the form of interest, which can often exceed the amount interest that can be earned by traditional means (such as from saving accounts and CDs). Plus P2P loans give borrowers access to financing that they may not have otherwise gotten approval for by standard financial intermediaries. The method is not without its disadvantages as the lender has very little assurance that the borrower, who tra

Try Peer-to-Peer Lending Interview Questions & Answers - Exam Mode

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Peer-to-Peer Lending Interview Questions & Answers - Learning Mode
Try Peer-to-Peer Lending Interview Questions & Answers - Exam Mode
Question: What is Marketplace Lending?

Answer: It's an exciting new way for people to borrow money from other people. The people providing the funding are investors who would like to loan money to creditworthy borrowers.

Borrowers get the recognition for their good credit behavior by saving with better rates. For investors, it offers an opportunity to invest in a new, attractive fixed income asset class. Source: CoolInterview.com
Question: How are you different from 'payday' lenders?

Answer: 'Payday' Lenders are generally lenders of last resort. In return for access to short-term credit (about 30 days) and loans that are typically of small nominal value, payday borrowers pay extremely high fees and interest rates.

SocietyOne is not a Payday Lender. We look for creditworthy, quality borrowers who typically have established relationships with major banks. Our loans range up to 60 months, from $5,000 to $35,000, which does not fit with the definition of a payday loan. We Source: CoolInterview.com
Question: How is Marketplace Lending different from a Bank Loan?

Answer: Marketplace Lending provides a different and interesting alternative for creditworthy borrowers and fixed income investors to get a better deal. Part of the attraction is that it can provide better rates and returns without the infrastructure cost and complexity that comes from being a traditional bank or deposit-taking institution. Source: CoolInterview.com
Question: If I borrow money using a peer to peer lending service, will it affect my cibil score?

Answer: To be eligible as a borrower, the P2P portal seeks your details including your educational details, financial details and employer details etc. The portal will then check your credit worthiness by checking your credit reports like CIBIL etc as part of their in house verification but any loans taken from P2P lenders will not get reflected in your credit score. There are no common RBI lending guidelines so peer to peer lending is risky on that count. Source: CoolInterview.com

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Latest 20 Questions
Payment of time- barred debt is: (a) Valid (b) Void (c) Illegal (d) Voidable
Consideration is defined in the Indian Contract Act,1872 in: (a) Section 2(f) (b) Section 2(e) (c) Section 2(g) (d) Section 2(d)
Which of the following is not an exception to the rule, "No consideration, No contract": (a) Natural love and affection (b) Compensation for involuntary services (c) Completed gift (d) Agency
Consideration must move at the desire of: (a) The promisor (b) The promisee (c) The promisor or any other party (d) Both the promisor and the promisee
An offer which is open for acceptance over a period of time is: (a) Cross Offer (b) Counter Offer (c) Standing Offer (d) Implied Offer
Specific offer can be communicated to__________ (a) All the parties of contract (b) General public in universe (c) Specific person (d) None of the above
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A advertises to sell his old car by advertising in a newspaper. This offer is caleed: (a) General Offer (b) Special Offer (c) Continuing Offer (d) None of the above
In case a counter offer is made, the original offer stands: (a) Rejected (b) Accepted automatically (c) Accepted subject to certain modifications and variations (d) None of the above
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There is no binding contract in case of _______ as one's offer cannot be constructed as acceptance (a) Cross Offer (b) Standing Offer (c) Counter Offer (d) Special Offer
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When an offer is made to the world at large, it is ____________ offer. (a) Counter (b) Special (c) General (d) None of the above
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A specific offer can be accepted by ___________. (a) Any person (b) Any friend to offeror (c) The person to whom it is made (d) Any friend of offeree
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