SKO 100

How do you create a loan in Quickbooks? A. Select Banking > Create Loan B. Use the loan manager C. Create the loan account D. Create a liability account

Describe two advantages of using credit cards. ..... Choose the correct answer below. O A. Relatively low interest rates on unpaid balances and convenience of use. B. You get to use a product before actually paying for it and it provides a source of temporary emergency funds. C. May provide amenities and difficulty to overspend. D. Lack of caps on interest rates and fees.

Consumers should comparison shop for credit just as they would for any other consumer good or service. How might a​ consumer's stage of the financial life​ cycle, income, net​ worth, or credit score affect the availability of loan sources and the associated cost of the loans​ offered?       Question content area bottom Part 1 Which of the following statements is​ correct?  ​(Select best answer​ below.)     A. ​Typically, stages of the financial life​ cycle, income, net worth and your credit score move in​ unison, and the cost of the loans tends to be lower in early financial life cycle stages due to a sufficient supply of fund sources.   B. ​Typically, stages of the financial life​ cycle, income, and net worth move inversely with credit​ score, and the cost of the loans tends to be lower in early financial life cycle stages due to a sufficient supply of fund sources.   C. ​Typically, stages of the financial life​ cycle, income, net worth and your credit score move…

Consumers should comparison shop for credit just as they would for any other consumer good or service. How might a​ consumer's stage of the financial life​ cycle, income, net​ worth, or credit score affect the availability of loan sources and the associated cost of the loans​ offered?         Question content area bottom Part 1 Which of the following statements is​ correct?  ​(Select best answer​ below.)     A. ​Typically, stages of the financial life​ cycle, income, and net worth move inversely with credit​ score, and the cost of the loans tends to be lower in early financial life cycle stages due to a sufficient supply of fund sources.   B. ​Typically, stages of the financial life​ cycle, income, net worth and your credit score move in​ unison, and the cost of the loans tends to be lower in early financial life cycle stages due to a sufficient supply of fund sources.   C. ​Typically, stages of the financial life​ cycle, income, net worth and your credit score…

A good credit rating would be based on all the following criteria EXCEPT whether you   a. have a record of paying what you owe on time.   b. have little or no current debt.   c. use credit for regular expenses.   d. can afford to take on more credit.   e. have used credit appropriately in the past.

Which of these statements is true? A)There is no reason to pay off a loan early B) when shopping for a loan, you need to compare only APRs C) the more you owe, the higher your interest payment will be D) you can save money by making the smallest down payment the lender will allow

Loans backed by a simple promise to repay are known as _____ loans. open-end credit revolving credit     securedu nsecured

Is the following statement true or false? Open-end loans are often called line-of-credit accounts. O True O False

1. Describe the importance of a credit score for financial planning. 2. List the credit bureaus and list information that is contained in a person's credit report. 3. Review at least two sources of free credit reports, such as Credit Karma or any other site that you are familiar with. As described on one of these sites, name the factors that affect credit scores. 4. Propose a strategy that is expected to increase a person's credit score.

Directions: Match the vocabulary definitions to the vocabulary words. Vocabulary Words 1. Credit score = 2. FICO = 3. Poor FICO credit score = 4. Exceptional FICO credit score = 5. Payment history scores = 6. Length of credit history= 7. New credit = 8. Total debt, balances, and utilization =     Vocabulary Definitions A. Total owed as well as how much available credit a person is using B. All new loans or accounts and all creditor credit report requests C. How long a person has had an account or loan D. Stands for Fair Isaac Corporation, a company that provides lenders with formulas to figure out credit scores E. Credit score that is below 580 F. A way for lenders to predict how likely a person is to pay back a loan on time G. Whether a person is paying bills on time and as agreed H. Credit score of 800 or more

4) Describe the difference between a hard inquiry and a soft inquiry. Give an example of each and explain how they impact your credit report/score.  5) Discuss 5 areas in life where your credit score could be checked and thus impact the purchase/event?  6) Describe the 5 C's of credit. What is the most important action to building your character, one of the 5 C's.

What are the 5 Cs of credit that are sometimes used by bankers and others to determine whether a potential loan will be repaid?

You will discuss credit from the lenders point of view. What factors do lenders consider when making new real estate loans? When banks make loans they are taking a risk based on several factors including creditworthiness. You will discuss how banks determine the creditworthiness of borrowers. Topic: Creditworthiness Respond to the following questions: . How does the bank determine if a borrower is credit worthy? . Does this analysis guarantee that the borrower will be able to pay off the loan as agreed? • What happens if their credit scores are below 500? What alternatives would someone with no credit history have? .

Which of the following statements is correct about credit period? A. If a customer purchases goods within the credit period, a cash discount will be allowed to the customer B. If a customer settles the payment within the credit period, a cash discount will be allowed to the customer C. It refers to the period in which customers must settle their debts due D. It refers to the period in which customers need to settle one-third of the debts in order to avoid further interests charged

Can someone

Which of the following is not a company that can provide you with a look at your credit score? a. Credit care  b. Credit Karma c. Vantage Score d. Credit Sesame

What do I need to do to build a solid credit history and how can I maintain it?

3. What are the advantages and disadvantages of a fixed principal, fixed interest loan? 4. What is the purpose of a bridge loan? 5. Distinguish between bank discount and simple interest.6. Differentiate between a stated rate of interest and an effective rate of interest. 7. What is the significance of finding the internal rate of return (IRR)? 8. Jill Kramer borrowed $25,000 to pay for a startup business. Jill must repay the loan at the end of five months in one payment with a 6 percent simple interest rate.What is the total amount that Jill must repay in five months?How much interest does Jill repay?9. Joe Jones went to his bank to find out how long it will take for $1,000 to amount to $1,350 at 9 percent simple interest. Solve Joe's problem.

What are the major flaws with NPV? What are the major flaws with IRR? If you are going to a bank and trying to get a loan, which is the best method to use (NPV, IRR, Payback period)?