Loan Officer

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A Short Version of this test is available.   What's the Difference?

Candidates typically need about 45 minutes to complete our full-length job-specific assessments. Our short versions take less than half that time. Like our standard assessments, these tests are based on the U.S. Government Occupational Information Network (O*Net). They do not contain the animated simulation module, however, though they still provide valuable information about all critical performance-related dimensions. Additionally, the short versions optionally include 1-2 virtual video interview questions! Click below for more information:

Loan Officer (Short)
About the job

Loan Officer

Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and payment methods. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, loan underwriters, and payday loan officers.

Top activities and tasks for this job:
  • Meet with applicants to obtain information for loan applications and to answer questions about the process.
  • Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
  • Getting Information
  • Evaluating Information to Determine Compliance with Standards
  • Approve loans within specified limits, and refer loan applications outside those limits to management for approval.
  • Establishing and Maintaining Interpersonal Relationships
  • Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
  • Processing Information

About the test (Full Version)

The Loan Officer Pre-Employment Assessment was designed to help you hire staff in this role. The test provides a whole-person evaluation by measuring job-relevant cognitive ability, personality, knowledge, skills, and relevant behavioral history. Each component provides important data for hiring decisions. Cognitive ability has been linked to overall job performance in most jobs and correlates with a candidate's ability to learn new skills and to solve complex problems. Personality characteristics determine how well the candidate will fit-in with a corporate culture. Knowledge and skills indicate how much training will be needed before a new employee becomes productive. Finally, relevant behavioral history detects counter-productive behaviors that can impact job performance.

The Loan Officer test includes an animated work simulation in which candidates meet customers, colleagues and supervisors in a job-related context. Post-test surveys indicate the majority of candidates react favorably to these simulations. This test also contains an automatically-scored essay component. Writing is a key skill for many jobs and also demonstrates the ability to generate, organize, and communicate relevant ideas effectively.

The specific attributes measured include:

Cognitive Ability
  • Analytical Thinking and Attention to Detail
  Knowledge and Skills
  • Banking Fundamentals
  • Writing
Personality
  • Adaptability
  • Drive
  • Integrity
  • Resilience
  • Teamwork
  Emotional Intelligence
  • Empathy and Emotional Self-Control
Behavioral History
  • History Survey - Performance
  • History Survey - Tenure
 

Following completion, the test produces a Candidate Selection Report that includes an overall score and detailed scores for each attribute. The overall score weighs each of the factors based on research and analysis from the U.S. Government's Occupational Information Network (O*Net). O*Net represents over a decade of dedicated research evaluating the relative importance of various factors that lead to success in almost 1,000 different job roles.

The Candidate Selection Report also provides expert interview questions that help you probe critical or low-scoring areas, along with a guide for noting your evaluation of the candidate's responses. Consistent use of an interview guide is an important part of gaining better candidate insights and making better hiring decisions.

Language:English (US)
Time to Complete:40 Minutes (Approximately)
O*Net SOC Code:13-2072.00
Simulation Context:Medium-Level Business Finance
O*Net Context:Business and Financial Operations
More information about this Job
Annual US Wages (2023)
Bottom 10%:
$37,020 or less
Bottom 25%:
$49,130 or less
Median:
$69,990 (Average)
Top 25%:
$100,020 or more
Top 10%:
$139,470 or more

US Employment Statistics
2023:
334,100
2033 (projected):
338,700
Annual U.S. Job Openings:22,900

Top Knowledge Requirements
  • Customer and Personal Service
  • Economics and Accounting
  • English Language
  • Mathematics
  • Sales and Marketing
  • Law and Government
  • Administration and Management
  • Education and Training
Top Skills
  • Active Listening
  • Speaking
  • Judgment and Decision Making
  • Reading Comprehension
  • Critical Thinking
  • Writing
  • Mathematics
  • Social Perceptiveness
Top Abilities
  • Written Comprehension
  • Oral Expression
  • Oral Comprehension
  • Written Expression
  • Near Vision
  • Speech Clarity
  • Speech Recognition
  • Inductive Reasoning
Education Requirements
High School Diploma:
6%
Some College:
13%
Associate's Degree (2 yr):
11%
Bachelor's Degree:
69%
This graphic shows the percentage of people in this role who have their highest education in each category.
Related Work Experience Requirements
3 - 6 Months:
10%
6 Months - 1 Year:
4%
1 - 2 Years:
6%
2 - 4 Years:
31%
4 - 6 Years:
40%
6 - 8 Years:
2%
More than 10 Years:
6%
This graphic shows the percentage of people in this role whose related work experience before they entered this position falls into each category.

Alternate Titles for this Role: Agricultural Loan Officer, Bank Officer, Bank Representative, Banking Services Officer, Branch Banker, Branch Lending Officer, Business Banker, Business Banking Officer, Commercial Banker, Commercial Lender, Commercial Loan Collection Officer, Commercial Loan Officer, Commercial Mortgage Broker, Consumer Lending Specialist, Consumer Loan Officer, Corporate Banking Officer, Eligibility Consultant, Farm Loan Representative, Farm Mortgage Agent, Financial Aid Administrator, Financial Aid Advisor, Financial Aid Coordinator, Financial Aid Counselor, Financial Aid Officer, Financial Aid Technician, Financial Assistance Advisor, Financial Assistance Specialist, Financial Counselor, Home Lending Advisor, Home Lending Officer, Lender, Loan Administrator, Loan Adviser, Loan Analyst, Loan Approver, Loan Auditor, Loan Consultant, Loan Coordinator, Loan Counselor, Loan Examiner, Loan Interviewer, Loan Officer, Loan Originator, Loan Reviewer, Loan Service Officer, Loan Servicing Specialist, Loan Specialist, Loan Underwriter, Loan Workout Officer, Mortgage Banker, Mortgage Broker, Mortgage Closer, Mortgage Consultant, Mortgage Loan Closer, Mortgage Loan Officer, Mortgage Loan Originator, Mortgage Loan Underwriter, Mortgage Originator, Mortgage Specialist, Mortgage Underwriter, Peer Financial Counselor, Personal Banking Officer, Personal Loan Specialist, Portfolio Manager, Real Estate Loan Officer, Real Estate Officer, Small Business Banking Officer, Underwriter

Related Jobs based on Skills & Abilities: Loan Interviewers and Clerks, Credit Analysts, Credit Counselors, Credit Authorizers, Checkers, and Clerks, Personal Financial Advisors, Financial Managers, Securities, Commodities, and Financial Services Sales Agents, New Accounts Clerks, Bill and Account Collectors, Insurance Sales Agents, Brokerage Clerks, Tellers, Financial Examiners, Insurance Underwriters, Real Estate Brokers, Bookkeeping, Accounting, and Auditing Clerks, Accountants and Auditors, Tax Preparers, Insurance Claims and Policy Processing Clerks

(Internal Use) pid=6196, CTB Direct Test

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"Truly takes out the guess work"
"Hiring managers can easily understand the reports"


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