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301-Commercial-Banking-Configuration Salesforce nCino 301 Commercial Banking Configuration

  • Salesforce
  • 4 free sample questions

About this exam

301-Commercial-Banking-Configuration is the Salesforce exam Salesforce nCino 301 Commercial Banking Configuration. Paid practice material for this exam is not available yet, but you can try its free sample questions.

Exam code
301-Commercial-Banking-Configuration
Vendor
Salesforce
Practice questions
Not available yet
Free sample questions
4
Question bank last updated
Not available yet

Try 2 sample questions

Taken from the free sample set for 301-Commercial-Banking-Configuration.

Question 1

Which of the following is an example of a wireless network technology commonly used for short-range
communication between devices?

  1. Option A:
    True
  2. Option B:
    False
Show answer and explanation

Correct answer: A

The statement is asking whether a wireless network technology commonly used for short-range communication between devices exists. This is True. There are several technologies designed specifically for short-range wireless communication. For example, Bluetooth is widely used for connecting devices like headphones, speakers, keyboards, and smartphones over short distances. Another example is NFC, which is used for very close-range communication such as contactless payments and tapping devices together to share data. These technologies are specifically designed to work over short distances, making them suitable for personal devices and quick data exchange without cables.

Question 2

Which of the following describes a guarantor?


  1. Option A:
    An entity that represents a collection of related relationships

  2. Option B:
    An entity that borrows money

  3. Option C:
    An entity that does not borrow money but promises to repay a loan in the event of default

  4. Option D:
    An entity that jointly borrows money with another
Show answer and explanation

Correct answer: C

A guarantor is an entity or person that does not directly take the loan, but agrees to repay the loan if the borrower fails (defaults). In other words, the guarantor provides a financial promise or backup assurance to the lender that the debt will be covered if the main borrower cannot pay.
Why the other options are incorrect:
  • A: This describes a data or relationship concept, not finance.
  • B: This is the borrower, not the guarantor.
  • D: This describes a co-borrower, who jointly takes responsibility for the loan, not a guarantor.
So, the guarantor is specifically the party that steps in only if the borrower defaults, making option C the correct choice.

See all 4 free sample questions