Question
develop an activity diagram based upon the following description: At ABC Bank Canada, loan officers must evaluate loan applications before approving or denying them. During
develop an activity diagram based upon the following description: At ABC Bank Canada, loan officers must evaluate loan applications before approving or denying them. During this evaluation process, many factors regarding the loan request and the applicants background are considered. Loan application can be made for any of the following type of loan: Auto i.e loan for buying any vehicle Mortgage i.e. loan for buying a house Education i.e. loan for studying in community school in Canada Other i.e. for any other purpose Any loan application of amount less than $5000 is evaluated based upon the credit report of an applicant. If the credit report is rated good or excellent, the loan officer approves the loan. If the credit report is rated fair, the officer checks to see if the applicant has a checking account at the bank. If the applicant holds a checking account, the loan is approved; otherwise, the loan is denied. If the credit report is rated poor, the loan is denied. In case of application of loan amount from $5000 an upto $200, 000 the evaluation criteria depends upon the type of loan. For auto, mortgage and other loan requests, the applicants credit report is reviewed and an employment check is made to verify the applicants reported salary income. If the credit rating is poor, the loan is denied. If the credit rating is fair, good, or excellent and the salary income is verified, the loan is approved. If the salary income is not verifiable, the applicant is contacted and additional information is requested. If this case, the loan application along with the additional information is sent to the VP for review and a final loan decision. For educational loans, the educational institution the applicant will attend is contacted to determine the estimated cost of attendance. This amount is then compared to the amount of the loan requested in the application. If the requested amount exceeds the cost of attendance, the loan is denied. Otherwise, education loan requests for amounts between $5000 and $34999 are approved if applicants; credit rating is fair, good, or excellent. Education loan applications requesting amounts from $35000 to $200000 are approved only if the credit rating is good or excellent. All loan applications for amounts greater than $200000 are sent to VP for review and approval.
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