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P.A.C.E Quiz

Have you been studying? Lets find out.

1. It is very important that you allow the homeowner the space and privacy to complete the IDVerification and sign the documents. *

  1. True

  2. False

2. When are Financing Documents transmitted for countersignature? *

  1. Once the contractor esigns.

  2. After you receive the signed copies via email.

  3. After the homeowner has completed eSignature, and IDV is complete.

3. You are allowed to say you are from Hero , Renew, Ygrene or a P.A.C.E. representative *

  1. True.

  2. False.

4. The P.A.C.E. Program will confirm terms with property owners to ensure that the property owners understand: *

  1. Financing (including payments, terms, interest).

  2. Products (what products, their specs, and their cost).

  3. None of the above.

  4. All of the above.

5. Can a homeowner sell or refinance their home if it has a HERO assessment? Select the best answer. *

  1. The P.A.C.E. assessment in most cases will first need to be paid off when the homeowner refinances or sells the property.

  2. Yes, they can always sell or refinance their home with a P.A.C.E. assessment.

  3. No, they will not be allowed to sell or refinance.

6. As a Sales Rep, representing the contractor, you need to make sure your customer understands which of the following? *

  1. All of the above.

  2. The estimated yearly amount.

  3. Financing term.

  4. Interest rate.

7. How is P.A.C.E. different from other forms of financing? *

  1. It is designed specifically for home improvements that provide energy efficiency, water-conservation, renewable energy and hurricane protection.

  2. All of the above.

  3. Approval for P.A.C.E. financing is primarily based on the equity in the homeowner's home and their debt payment history, rather than on credit score.

  4. It is paid at a fixed interest rate through an additional line item on the property taxes.

8. P.A.C.E. is a government grant program that doesn't need to be repaid. *

  1. False.

  2. True.

9. In cases where the customer is 65 years old or older, it is a good idea to have a 3rd party person (like a friend or family member) join the sales call. *

  1. True.

  2. False.

10. Once a homeowner is approved, P.A.C.E. will email the approval amount to whom? *

  1. The Contractor

  2. The Financing Department


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