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  3. Often referred to as "the heart of a factoring organization", the credit department is responsible for granting credit to client

Often referred to as "the heart of a factoring organization", the credit department is responsible for granting credit to client

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问题      Often referred to as "the heart of a factoring organization", the credit department is responsible for granting credit to clients’ customers and for collecting the accounts receivable purchased by the factor. When factored clients submit customer orders for credit approval, the credit department analyzes the financial condition and credit worthiness of the customer, and then makes a decision to approve or decline the order. The department must then monitor the condition of approved customers and collect all due receivables. Careful credit checking and effective collection procedures in this department can greatly reduce the risks inherent in factoring.
     As the head of the credit department, the credit manager is responsible for seeing that the department operates effectively. He must develop the factor’s credit policies in consultation with senior factoring associates, and he is in overall command of everything from credit and collections to bankruptcy and liquidations. If the factor is a commercial bank division, the credit manager is a bank’s vice president, and credit policy must also be approved by top management of the bank.
     Assisting the credit manager may be several supervisors who have credit responsibilities of their own and who also oversee the analysis and approval of customer orders by the credit specialists. Credit supervisors typically spend about eighty percent of their time handling large customer orders. If a customer order exceeds a supervisor’s credit authority, he is responsible for making recommendations to the credit manager. A supervisor also reviews a subordinate’s credit decision if the subordinate is unsure of the extent of the credit risk or if a client questions a particular credit decision.
     In extremely large credit exposures, supervisors bear the responsibility for analyzing the credit position of the customers and deciding on credit limits. To do this, they must regularly obtain current data from various credit information sources. They must also have extensive contact with each customer to determine operational performance and progress. Frequently, supervisors are called upon to give advice on what should be done to improve a company’s financial condition. Meeting all these responsibilities requires that each supervisor continuously observe and study the industries with which he is concerned, so that he is capable of anticipating market changes which may affect his accounts.
     A supervisor’s major challenge is to maintain a fine balance between the demands of clients that all their customer orders be approved and the questionable financial position of some of the customers. In reviewing any credit decision, a supervisor must be capable of weighing a variety of elements, including the possibility of losing the client, the customer’s credit position, and the extent of any possible loss.  
Which of the following is NOT true?
选项 A、The credit policy can be a part of a commercial bank’s policy.
B、The credit policy rests only with the credit manager.
C、The supervisors are the helping hands of the credit manager.
D、A credit manager of the credit department is not necessarily a bank’s leading person.
答案B
解析 文章第二段第二句提到“信用经理要和几个信用合作人协商过后，才能制定信用政策”，所以，B项是错误的。第三段第一句“几个有信用责任的监督人协助信用经理并监督其他信用专家的工作”，所以C项是正确的。第二段最后一句表明“信用经理可以是副行长”，即“不一定是银行的最高领导”，故D项是正确的。
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