6. Describe how and when a letter of credit is used? 7. Name the key elements...

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Finance

6. Describe how and when a letter of credit is used?
7. Name the key elements in being a successful salesperson.
8. What are the three standards of the CRA for a bank?
9. In addition to banking laws, what regulation governsfinancial privacy?
10. You are a commercial loan officer in the process of workingwith a customer that wants to purchase a business ($200,000 saleprice for a coffee shop in Cotati). The problem is, the businessacquisition has no real estate and your borrower has only 10% cashfor the purchase. This is a cross-selling opportunity.
To cultivate the relationship, try to determine thefollowing:
Product Features Benefits

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6 Letter of credit is a payment method used to discharge the legal obligations for payment from the buyer to the seller by having a bank pay the seller directly Thus the seller relies on the credit risk of the bank rather than the buyer to receive payment 7 Ability to Listen Empathy Hunger Competitiveness Networking Ability Confidence Enthusiasm Resiliency 8 there are three very specific ways in which the CRA nudged Countrywide and other mortgage companies to adopt lax See Answer

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