Fico score - Study guides, Class notes & Summaries
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REE 4202- Exam 2 Sirmans Qs&As
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REE 4202- Exam 2 Sirmans Qs&As 
Borrower Qualifications include: - ANS-1. determining maximum loan amount 
2. estimating settlement requirements and costs 
3. analyzing credit history 
4. calculating effective income 
5. estimating monthly housing expense 
6. assessing ability to repay mortgages and other liabilities in a timely fashion 
Credit Scoring - ANS--used to assess the creditworthiness of a borrower 
-best known company FICO (Fair Isaac and Company) 
-cutoff score for Frannie and Fr...
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WGU D363 PERSONAL FINANCE FINAL EXAM ALL POSSIBLE QUESTIONS AND ANSWERS 2024/2025 SOLVED AND PASSED 100%;(ACE IN THE D363 TEST)
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WGU D363 PERSONAL FINANCE FINAL EXAM ALL POSSIBLE QUESTIONS AND ANSWERS 2024/2025 SOLVED AND PASSED 100%;(ACE IN THE D363 TEST)
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GEB 3006 Exam 3 Financial Literacy Questions And Answers With Latest Quiz
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GEB 3006 Exam 3 Financial Literacy Questions And Answers With Latest Quiz 
What two factors count for 65% of your FICO score? Payment history and outstanding debts 
Which company has developed the MOST commonly used credit score to evaluate an individual's credit? Fair 
Isaac Corporation 
You should try to achieve a FICO score of at least ________ in order to receive a top credit rating. 760
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UGBA 135 Midterm Correctly Answered Questions 2024.
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UGBA 135 Midterm Correctly Answered Questions 2024. 
FICO Score - correct answer measure of consumer credit risk 
 
Highest FICO Score - correct answer 850 
 
Factors determining FICO Score - correct answer Credit report is based on: 
-35% paying your bills on time over time 
-30% your debt-to-credit ratio ( borrowing money/ credit limit) 
-15% length of credit history 
-10% mix of credit cards and loans (like to see things other than credit card; Rent, any loan (e.g. leasing car)) 
-10% new acc...
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UGBA 135 Midterm Question and answers already passed 2023/2024
- Exam (elaborations) • 16 pages • 2024
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UGBA 135 Midterm Question and answers already passed 2023/2024FICO Score - correct answer measure of consumer credit risk 
 
Highest FICO Score - correct answer 850 
 
Factors determining FICO Score - correct answer Credit report is based on: 
-35% paying your bills on time over time 
-30% your debt-to-credit ratio ( borrowing money/ credit limit) 
-15% length of credit history 
-10% mix of credit cards and loans (like to see things other than credit card; Rent, any loan (e.g. leasing car)) 
-10...
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SOMB II Practice Test | questions and answers with complete solution
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SOMB II Practice Test | questions and answers with complete solution 
 
When refinances as a percentage of total originations rise, does profitability at large banks tend to rise or to fall? - Fall 
What are the top three Mortgage lender's main sources of income? - - Fees negotiated at origination 
- Gain on sale 
- Interest Income 
Interest income earned at the note rate from the date a loan closes until it is sold belongs to? - The lender 
Which type of loan sale generates the most revenue...
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NACA HUD Certification Exam 2023-2024 Questions and Answers 100% Correct
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NACA HUD Certification Exam Questions and Answers 100% Correct 
 
NACA HUD Certification Exam Questions and Answers 100% Correct 
 
 
Credit Report - ANSWER-a compilation of data about you that has been gathered by credit reporting agencies or "credit bureaus" 
 
Length of Credit History - ANSWER-Makes up 15% of FICO score 
 
Type - ANSWER-__ of credit use makes up 10% of FICO score 
 
New Credit or Inquiries - ANSWER-Makes up 10% of FICO score 
 
Amounts Owed - ANSWER-Makes up 30% of FICO s...
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UGBA 135 Midterm questions & answers graded A+ 2023/2024 already passed
- Exam (elaborations) • 16 pages • 2023
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UGBA 135 Midterm 
FICO Score - correct answer measure of consumer credit risk 
 
Highest FICO Score - correct answer 850 
 
Factors determining FICO Score - correct answer Credit report is based on: 
-35% paying your bills on time over time 
-30% your debt-to-credit ratio ( borrowing money/ credit limit) 
-15% length of credit history 
-10% mix of credit cards and loans (like to see things other than credit card; Rent, any loan (e.g. leasing car)) 
-10% new accounts and recent applications for c...
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AGEC 235- exam 2 questions with correct answers
- Exam (elaborations) • 12 pages • 2023
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what is credit CORRECT ANSWER receiving cash, goods, or services with an obligation to pay later 
 
FICO score CORRECT ANSWER -attached to SSN 
-ranges from 300-850 
-determines interest rates 
-predicts risk 
 
what are the three credit reporting agencies CORRECT ANSWER Equifax, Experian, TransUnion 
 
what 5 things make up your FICO score CORRECT ANSWER -payment history (35%) 
-amounts owed (30%) 
-new credit (10%) 
-types of credit (10%) 
-length of credit history (15%) 
 
whats a good perc...
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Gold Coast Chapter 13:questions n answers graded A+ 2024/2025
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Gold Coast Chapter 13: 
Although there are a number of different methods for repaying a loan, there are only 3 types of mortgages: - correct answer FHA insured; 
 
VA guaranteed; 
 
And conventional. 
 
FHA insured mortgage loans: - correct answer The Federal Housing Administration (FHA) is a part of the U.S Department of Housing and Urban Development (HUD). ***The FHA DOES NOT make loans. Instead, it insures loans made by approved local lenders. The loan is funded by a lending institution, su...
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