Loan Manager Interview Preparation Guide
Download PDF

72 Loan Manager Questions and Answers:

1 :: Why do you want this job As Loan Manager?

This question typically follows on from the previous one. Here is where your research will come in handy. You may want to say that you want to work for a company that is Global Guideline, (market leader, innovator, provides a vital service, whatever it may be). Put some thought into this beforehand, be specific, and link the company’s values and mission statement to your own goals and career plans.

2 :: What is your greatest fear?

We all have fears. It's okay to discuss them. Just don't dive too deeply into them. Discuss how you would work to overcome your fears. You don't want to seem weak. You want to acknowledge it's out there but that you'll be able to work through it.

3 :: Tell me about a difficult decision you've made in the last year As Loan Manager?

We all have difficult decisions in our lives. Show how you were able to arrive at it and then how you decisively acted.

4 :: How do you keep others informed on work issues?

Possible methods:
Talking to them, emailing them, sharing best practices in meetings

5 :: What do you consider to be your greatest strength?

There isn't any right answer. Just make sure to make your response positive and true. A few good examples include: Your ability to solve complex problems, Your ability to work well on a team, Your ability to shine under pressure, Your ability to focus in chaotic situations, Your ability to prioritize and organize, Your ability to cut through the fluff to identify the real issues, Your ability to influence other positively. If your strength relates to the position in question that will be more beneficial - but again be honest, don't create a strength for yourself just because you think it will sound good.

6 :: Tell me about a time when you were forced to make an unpopular decision?

Not every decision is popular. In fact, almost every decision is bound to make someone unhappy at some point. The key is to demonstrate how it impacted others positively and why you chose it.

7 :: How well do you perform under pressure?

This is a fair question, as potential employers want to know if you're going to be able to get the job done even when things get a little bit stressful. You may say that you thrive under pressure or that you're able to get the job done even when things get a little bit stressful, just make sure to provide some real world examples of your ability to work under pressure in a prior job.

8 :: Tell me about a problem that you’ve solved in a unique or unusual way. What was the outcome? Were you happy or satisfied with it?

In this question the interviewer is basically looking for a real life example of how you used creativity to solve a problem.

9 :: Tell me about a time when you had to give someone difficult feedback As Loan Manager?

By asking this question, your interviewer hopes to learn whether you can communicate effectively, address issues in the workplace and motivate others during difficult times. Giving negative feedback requires honesty, thoughtfulness and tact. Answering this question well can help show an interviewer that you would be a good fit for a managerial position or a position that involves working closely with others.

10 :: Think about the changes you have seen and tell me how you handle change?

You can cite personal life changes, work place changes, career changes, technology change, industry change. The key is to discuss how seeing or experiencing that change has helped your development. For example, the recent changes in social media has broadened my horizons and helped me learn new forms of efficient marketing.

11 :: The change in the business industry now requires you to have a new set of skills you have to learn, how do you react to that?

First, find out which skills are the ones that you're currently lacking. Then identify what the steps would be to acquire/build those skills. Then take action to do so.

12 :: How did you hear about the position As Loan Manager?

Another seemingly innocuous interview question, this is actually a perfect opportunity to stand out and show your passion for and connection to the company and for job As Loan Manager. For example, if you found out about the gig through a friend or professional contact, name drop that person, then share why you were so excited about it. If you discovered the company through an event or article, share that. Even if you found the listing through a random job board, share what, specifically, caught your eye about the role.

13 :: Are you currently looking at other job opportunities?

Just answer this question honestly. Sometime an employer wants to know if there are other companies you're considering so that they can determine how serious you are about the industry, they're company and find out if you're in demand. Don't spend a lot of time on this question; just try to stay focused on the job you're interviewing for.

14 :: You are not given the tools you need to be successful. How would you change that As Loan Manager?

State a business case to your manager / leader as to why you need the tools and make the request for them.

15 :: What have you learned from mistakes on the job?

Candidates without specific examples often do not seem credible. However, the example shared should be fairly inconsequential, unintentional, and a learned lesson should be gleaned from it. Moving ahead without group assistance while assigned to a group project meant to be collaborative is a good example.

16 :: How do you prioritize your work?

Depends on the situation... I like to label certain tasks as either A B or C...A being the one that requires immediate attention, and C which are tasks that aren't urgent but eventually need to get done... I like to focus my work As Loan Manager on the things that need to get done, and done quickly... While balancing the other work alongside our first priorities.

17 :: How do you think your colleagues at your last job would describe you?

While your CV will say a lot about your work history As Loan Manager, the interviewer will most likely look for greater detail with questions such as this. Be positive about previous experience, highlighting your own strengths.

18 :: How long do you want to work for us if we hire you?

Here being specific is probably not the best approach. You may consider responding, “I hope a very long time.” Or “As long as we're both happy with my performance.”

19 :: Name five characteristics that describe you?

Here are a few you could choose from:
Hard working, strong willed, persistent, intelligent, adept, amicable, friendly, collaborative, eager, humble.

20 :: Do you ever take work home with you?

Here are two great sample answers that might help get you started:

☛ I am an extremely organized person, so I tend to be able to get my work done at work. However, if the need arose I would not be against taking work home. I try not to make it a habit, since I do value my free time. I do realize though that the work we do is important, and sometimes you have to do what needs to be done.
☛ I do not shy away from taking work home with me. I know that meeting deadlines and doing outstanding work sometimes means taking a bit of it home. I do not have a problem doing that when the need arises.
☛ Make sure to give an honest answer. Lying about taking work home may turn out badly for you if it is required and you do not do it.

21 :: What have you done to improve yourself in the last year As Loan Manager?

Discuss how you've improved yourself through work experiences, books you've read, classes, club(s) / extracurricular activities and describe the process on how it's happened. For example: I've improved my presentation skills tremendously because I've had to do 2 presentations this year for my communications class.

22 :: What are you looking for in a new position As Loan Manager?

I’ve been honing my skills As Loan Manager for a few years now and, first and foremost, I’m looking for a position where I can continue to exercise those skills. Ideally the same things that this position has to offer. Be specific.

23 :: What motivates you the most?

Is it money? Is it career development? Is it recognition? Is it a sense of achievement? Is it to impress your peers? Is it for fame?

24 :: What is the difference between a big ego and a healthy ego?

"Ego" should be replaced by confidence. It's good to be confident as it shows that you know what you're doing. However, a big ego is when confidence spirals out of control and you become arrogant.

25 :: Have you ever been fired and if yes, why?

Answer this as positively as possible and try to avoid disparaging the company you had previously worked for. The key is to accept the fact that yes, you were fired, but you've learned from the mistakes that got you there and you're better now because of it. If you haven't been fired, well, then this question's a piece of cake isn't it?

26 :: Do you have the ability to articulate a vision and to get others involved to carry it out?

If yes, then share an example of how you've done so at work or college. If not, then discuss how you would do so. Example: "I would first understand the goals of the staff members and then I would align those to the goals of the project / company. Then I would articulate the vision of that alignment and ask them to participate. From there, we would delegate tasks among the team and then follow up on a date and time to ensure follow through on the tasks. Lastly, we would review the results together."

27 :: Did the salary we offer attract you to this job?

The interviewer could be asking you this question for a number of reasons. Obviously, the salary is an important factor to your interest in this job, but it should not be the overriding reason for your interest. A good answer to this question is, “The salary was very attractive, but the job itself is what was most attractive to me.”

29 :: What is your ideal working environment?

Describe your ideal working environment. Do you like flexibility with work hours? Do you like working in a cubicle or independently? Do you like to be micro managed or empowered? Do you like to work on your own or in a team? Do you like being driven by metrics in your role? How much responsibility do you want?

30 :: What types of situations do you consider "unfixable"?

Most situations are "fixable" - the ones that are not are typically related to business ethics (someone is cheating the company, someone is stealing, etc)