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Credit Adviser Professional Exam (CAPE): free practice test

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Practice test questions with answers and explanations

Try the questions in the test above first, then open each one here to see the correct answer and why every other option is wrong.

01A lessee defaults on two installments and the contract accelerates future payments. What limit applies here?

Practice question Unit: Financing Products

  1. ATwice asset value

    “Twice asset value” does not meet the rule in this case; Permitted acceleration is capped by the number of defaulted payments.

  2. BAccelerated payments may not exceed the number defaulted ✓ Correct answer

    Correct: Permitted acceleration is capped by the number of defaulted payments.

  3. CAlways all contract payments

    “Always all contract payments” does not meet the rule in this case; Permitted acceleration is capped by the number of defaulted payments.

  4. DUnlimited number

    “Unlimited number” does not meet the rule in this case; Permitted acceleration is capped by the number of defaulted payments.

Reference: Finance Lease Law, Article 6(2). https://rulebook.sama.gov.sa/en/finance-lease-law

02The asset is not delivered for reasons unrelated to the lessee, who prepaid rent. What happens?

Practice question Unit: Financing Products

  1. AAlways forfeited

    “Always forfeited” does not meet the rule in this case; Advance payments are refunded for nondelivery or lost use not attributable to the lessee.

  2. BLent to the supplier without consent

    “Lent to the supplier without consent” does not meet the rule in this case; Advance payments are refunded for nondelivery or lost use not attributable to the lessee.

  3. CAdvance rent is refunded ✓ Correct answer

    Correct: Advance payments are refunded for nondelivery or lost use not attributable to the lessee.

  4. DConverted into marketing charges

    “Converted into marketing charges” does not meet the rule in this case; Advance payments are refunded for nondelivery or lost use not attributable to the lessee.

Reference: Finance Lease Law, Article 6(3). https://rulebook.sama.gov.sa/en/finance-lease-law

03VAT applies to a mandatory finance charge. How is it treated in cost elements?

Practice question Unit: Financing Products

  1. ATreat it as a customer reward

    “Treat it as a customer reward” does not meet the rule in this case; The article lists taxes, including VAT, among cost elements.

  2. BAlways exclude it because it is tax

    “Always exclude it because it is tax” does not meet the rule in this case; The article lists taxes, including VAT, among cost elements.

  3. CInclude it in relevant cost ✓ Correct answer

    Correct: The article lists taxes, including VAT, among cost elements.

  4. DAlways subtract it from principal

    “Always subtract it from principal” does not meet the rule in this case; The article lists taxes, including VAT, among cost elements.

Reference: Rules Governing Calculation of APR, Circular 45025707, Article 7(2)(c). https://rulebook.sama.gov.sa/en/rules-governing-calculation-annual-percentage-rate-apr-0

04Which education program supports consumer protection?

Practice question Unit: Financing Products

  1. ABan questions in meetings

    “Ban questions in meetings” does not meet the rule in this case; Education builds knowledge and skills for effective decisions and risk understanding.

  2. BMemorize the institution's slogan

    “Memorize the institution's slogan” does not meet the rule in this case; Education builds knowledge and skills for effective decisions and risk understanding.

  3. CPressure immediate signing

    “Pressure immediate signing” does not meet the rule in this case; Education builds knowledge and skills for effective decisions and risk understanding.

  4. DTeach risks, decision-making and where to obtain information ✓ Correct answer

    Correct: Education builds knowledge and skills for effective decisions and risk understanding.

Reference: Financial Consumer Protection Principles and Rules, Section 2, Principle 3. https://rulebook.sama.gov.sa/en/principle-3-education-and-awareness

05A model uses one expense allowance for every income level. What capability is missing?

Practice question Unit: Financing Mechanism

  1. AAdjustment of basic expenses by income level ✓ Correct answer

    Expense assumptions must vary with income levels.

  2. BSuppression of credit reports

    Suppressing reports removes relevant evidence.

  3. CRemoval of all customer data

    Deleting data prevents individualized analysis.

  4. DAutomatic loan approval

    Automatic approval does not correct expense estimates.

Reference: SAMA, Responsible Lending Principles for Individual Customers, Chapter III, paragraph 12. https://rulebook.sama.gov.sa/en/chapter-iii-qualitative-principles-responsible-lending

06A customer presents a self-prepared identity statement without an independent source. What is missing?

Practice question Unit: Introduction to Operational Risk Management

  1. AIdentity verification using a reliable independent source ✓ Correct answer

    A customer statement is not an independent verification source.

  2. BOnly the employee signature on the same statement

    An employee signature does not make the source independent.

  3. CA longer finance application number

    An application number is not independent identity evidence.

  4. DEvidence that the customer is highly profitable

    Profitability does not establish identity.

Reference: AML/CTF Guide, Section 3 A, 3.3(a). https://rulebook.sama.gov.sa/en/due-diligence-measures-0

07A consumer disputes the amount and an investigation is pending. How should default reminders be handled?

Practice question Unit: Customer Credit Risk

  1. AStop them until the complaint is resolved ✓ Correct answer

    Default reminders stop until the amount-related complaint is resolved.

  2. BContinue automatically

    Automatic continuation is not an exception to the restriction.

  3. CSend them to the employer

    Sending them to an employer does not resolve the dispute and may disclose protected information.

  4. DIncrease them

    Increasing reminders contradicts their suspension during the dispute.

Reference: Debt Collection Regulations and Procedures (2025), Article 6(4). https://rulebook.sama.gov.sa/en/debt-collection-regulations-and-procedures

08While compelling-change rescheduling is being completed, what happens to installment deductions?

Practice question Unit: Customer Credit Risk

  1. ATheir dates are advanced

    Advancing deductions is the opposite of the required postponement.

  2. BThey are taken from a neighbour

    A neighbour has no repayment obligation in this case.

  3. CThey double

    Doubling deductions conflicts with postponement during rescheduling.

  4. DThey are postponed until procedures finish ✓ Correct answer

    Installment deductions are postponed until rescheduling is complete.

Reference: Debt Collection Regulations and Procedures (2025), Article 9(2-1). https://rulebook.sama.gov.sa/en/debt-collection-regulations-and-procedures

09An adviser asks a relative to trade using insider information the adviser learned at work. Is this permitted?

Practice question Unit: Self-Management and Work Ethics

  1. AYes, if profits stay with the relative

    Profit allocation does not legalize the misuse.

  2. BYes, if instructions are verbal

    Verbal information is also covered.

  3. CYes, because the adviser does not trade personally

    Personal execution is not required.

  4. DNo, indirect trading does not avoid the prohibition ✓ Correct answer

    The prohibition covers indirect arrangements.

Reference: SAMA, Principles of Conduct and Work Ethics in Financial Institutions, III.G.2(c), circular 722030000067 (5 August 2019), in-force page checked 2026-11-03. https://www.rulebook.sama.gov.sa/en/principles-conduct-and-work-ethics-financial-institutions-0

10A training plan lists courses but never states what the employee should be able to do afterward. What is the central omission?

Practice question Unit: Self-Management and Work Ethics

  1. AA clear development outcome ✓ Correct answer

    PDP should clarify what the employee seeks to achieve.

  2. BA more decorative cover

    Appearance does not supply a learning outcome.

  3. CA list of personal contacts

    Contacts do not establish the intended capability.

  4. DMore course titles alone

    More activities do not define the outcome.

Reference: Financial Academy, Credit Advisor (2022), Chapter 5, printed/PDF page 89. https://fa.gov.sa/ar/Documents/CredtAdvisorDraft5_09112023.pdf

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