Reference no: EM131152093
Credit History Worksheet
Directions
Identify the following factor descriptions to their corresponding C of credit. Highlight, bold, or underline the correct answer.
1. Jack and Jill want to buy a car. They are using another car for ___________ as a promise to pay.
a) Capacity
b) Capital
c) Collateral
d) Character
e) Conditions
2. Under these _______________, you may still be approved with a cosigner.
a) Capacity
b) Capital
c) Collateral
d) Character
e) Conditions
3. Henry has a history of not staying with a job for an extended period of time. Which of the C's would a lender be looking at?
a) Capacity
b) Capital
c) Collateral
d) Character
e) Conditions
4. Rex is seeking a loan for purchasing a boat. The lender is reviewing his debt-to-equity ratio. Which of the C's does this fall under?
a) Capacity
b) Capital
c) Collateral
d) Character
e) Conditions
5. Madaline is a stay-at-home mom seeking to start a home-based business. She would need a cosigner in order to qualify for a loan. What other C's might she need for this loan?
a) Capacity
b) Capital
c) Collateral
d) Character
e) Conditions
6. Lenders use a debt-payment-to-income ratio to evaluate this particular C.
a) Capacity
b) Capital
c) Collateral
d) Character
e) Conditions
Credit Score
Resources:
• Five C's web page located at the following link: https://www.loanuniverse.com/credit.html.
• Annual Credit Report website www.annualcreditreport.com.
• Fair Isaac website (www.myfico.com).
Directions
Go to the Fair Isaac Co. website, www.myfico.com Do not buy a credit score unless you choose to do so. For this activity, go to "Learn about scores". Review this page, and follow the link to "What's in your score". From this page, follow the links to learn more about credit scores.
Note: You do not have to share your personal credit score or other details in this worksheet.
Using what you have learned about credits scores and the Five C's, respond to the following in at least 50 words each:
1. When are the five C's important?
2. Why is a credit score important?
3. What are the top 2 factors in your FICO score? What actions can you take to earn the most points in these categories?
Credit Reports
Directions
Go to www.annualcreditreport.com, the only site authorized by the Federal Trade Commission to provide free consumer credit reports. Request one free credit report from one of the three credit reporting agencies (if you are unable to download a report, complete this activity using a sample credit report from www.experian.com)
Using what you have learned about credits reports, respond to the following in at least 50 words each:
1. What type of information is included on your credit report?
2. What did you find surprising about credit reports?
Role of leadership of creative and innovative efforts
: Consider and analyze the role of leadership of creative and innovative efforts from your own experience. This can include your own role as leader, or your experience of working as part of a team under the leadership of someone you found particularly ..
|
Compare your company with its competitor
: Internal competence (internal strengths and weaknesses) and IFE matrix analysis. Compare your company with its competitor(s) and make a CPM analysis Conclusion and any interesting finding
|
Summarize it using the appropriate categories
: Consider one segment in your work that can be considered your customer. Using the design and prompts , create a customer empathy map, and summarize it using the appropriate categories.
|
Establishing price for a new product using the law of supply
: The scientific method is useful in problem solving and decision-making in a wide variety of fields. In this assignment, you will demonstrate how to use the scientific method to make decisions and solve problems in your field of study or everyday ..
|
What type of information is included on your credit report
: What type of information is included on credit report? What did you find surprising about credit reports? What are the top 2 factors in your FICO score? What actions can you take to earn the most points in these categories?
|
Review the given essay
: Review the given Essay and provide feedback.- Relationships are when two people decide to get to know each other better in preparation for a future together.
|
Explaining the importance of the implementation of a code
: Write a letter to employees from senior leaders explaining the importance of the implementation of a code of conduct, the company's vision, mission statement, and the importance of good ethical principles for the success of the firm
|
Design is relational data model for library
: This design is a relational data model for a library in a small town. The library contains books, videos, newspapers, and magazines that can be checked out. It also contains reference books, videos, magazines, and newspapers that cannot be checked ou..
|
What credit damage was corrected
: Have you, a family member, or a friend been a victim of identity theft? How did it happen? Describe the resolution process- ex. how much time did it take, what credit damage was corrected?
|