If you refuse directly and fairly, you can't get a loan. You can tell the leading office directly and privately that you don't want to borrow money, because your family has to repay the mortgage, car loan and so on. You can convince the leader with a lot of excuses. Otherwise, if you can't repay the loan by then, you may lose your job. If you refuse, you may feel bad, but you can't quit. If it is a big deal, you will choose to take the exam.