Data Analytics For Accounting
19th Edition
ISBN: 9781260375190
Author: RICHARDSON, Vernon J., Teeter, Ryan, Terrell, Katie
Publisher: Mcgraw-hill Education,
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Textbook Question
Chapter 1, Problem 2P
Download and consider the rejected loans dataset of LendingClub data titled “RejectStatsA Ready.” Given the analysis performed in the chapter, what three items do you believe would be most useful in predicting loan acceptance or rejection? What additional data do you think could be solicited either internally or externally that would help you predict loan acceptance or rejection?
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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
Explain whati mportant information we can get from each sources of credit information to be able to make a decision whether or not we can extend credit to the loan applicant.
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?
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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…
Chapter 1 Solutions
Data Analytics For Accounting
Ch. 1 - Prob. 1MCQCh. 1 - Prob. 2MCQCh. 1 - Prob. 3MCQCh. 1 - Prob. 4MCQCh. 1 - Prob. 5MCQCh. 1 - Prob. 6MCQCh. 1 - Prob. 7MCQCh. 1 - Prob. 8MCQCh. 1 - Prob. 9MCQCh. 1 - Prob. 10MCQ
Ch. 1 - Prob. 1DQCh. 1 - Give an example of how Data Analytics creates...Ch. 1 - Prob. 3DQCh. 1 - Prob. 4DQCh. 1 - Prob. 5DQCh. 1 - Prob. 6DQCh. 1 - Prob. 7DQCh. 1 - Prob. 8DQCh. 1 - Prob. 9DQCh. 1 - Prob. 10DQCh. 1 - Prob. 11DQCh. 1 - Prob. 12DQCh. 1 - To address the question Will I receive a loan from...Ch. 1 - Download and consider the data dictionary file...Ch. 1 - Download and consider the rejected loans dataset...Ch. 1 - Prob. 3PCh. 1 - Prob. 4PCh. 1 - Consider the 2013 declined loan data from...Ch. 1 - Consider the 2013 declined loan data from...
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Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- WHY Loan interviewing is an important step in lending process.arrow_forwardTRY TO DISCOVER! Five Keys of Loan Applications (Williams, Mark, 2019) What do you think are banks, lending institution and financing companies look for when reviewing a loan application of prospective client borrower? The most fundamental characteristics most prospective lenders will concentrate on include: 1. Credit history 2. Cash flow history and projections for the business 3. Collateral available to secure the loan 4. Character 5. Myriad pieces of loan documentation that includes business and personal financial statements, income tax returns, a business plan and that essentially sums up and provides evidence for the first four items listed.arrow_forwarddifference between loan reviews and loan workouts. please answer this in a tablearrow_forward
- Discussion Questions to answer for your initial post: 1. Explain the importance of having an Escrow Checklist? 2. What is an Escrow Settlement Sheet (AKA HUD1 or Closing Document)? What is its role in an Escrow Transaction? 3. When and for what purpose would an Escrow Officer order a Request for Full Reconveyance? 4. Why is it advisable, and the Lender will require as a condition of funding, the Buyer to obtain a Policy of Fire Insurance? What typically does a Insurance cover against, and what two important items does a standard Fire Policy not cover?arrow_forwardWhen selecting a financial institution, you should consider: (select all that apply) fees for services. | convenience, such as location of branches and online access to your account. interest rates charged on loans. interest rates earned on your savings.arrow_forwardCreate one (1) problem situation concerning a loan amortization problem. Make a brief description of your amortization problem and prepare its amortization schedule showing the payments schedule for the loan.arrow_forward
- What are the factors that you need to consider in applying for a loan? Why is it important to consider those factors? Explain your answer.arrow_forwardWhich statement best describes the role of a credit agency? OIt tracks the use of credit for lenders. It predicts future earning potential for lenders. OIt teaches how to make smart financial decisions. OIt shows how saving money makes financial sense.arrow_forwardWhat are a few things to consider before you cosign a loan?arrow_forward
- Develop various interest formulas for the credit calculations?arrow_forwardHow aware are you of the fees associated with your current loans, and how might a better understanding of these fees influence your borrowing decisions in the future?arrow_forwardConcept Integration. Review the definitions of current and fixed assets in Chapter 17 (see page 407). Whywould a potential lender be interested in these twoclasses of assets when reviewing the balance sheet of acompany applying for a long-term loan?arrow_forward
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