Clfp credit - Study guides, Class notes & Summaries

CLFP Exam - Credit Process and Financial Statement What applicant attributes are you trying to learn about when underwriting a deal? - Correct answer-1.) The desire to repay the debt 2.) the financial ability to make payments 3.) The reserves to withstand unexpected setbacks What are the four (4) C's of Credit? - Correct answer-1.) Character: the desire to pay back debt 2.) Cash Flow: Ability to make payments 3.) Capital: Ability to withstand setbacks 4.) Collateral: Ability to liquid...

CLFP EXAM - Equipment Lease and Financing Documentation 2024 Questions & Answers | 100% Correct | Verified What is a Lease a document? - A lease is a basic document by which a lessor agrees to provide equipment or other personal property or rights to a lessees in return for rental payments. What are Lease Exhibits document? - Also referred to a "schedules" are used if the description of lease property is too lengthy to fit into the space allotted on the lease. Often wise to have le...

CLFP Exam - Credit Process and Financial Statement Latest Exam 2023

CLFP 2019- CHAPTER 1 LATEST ACTUAL EXAM WITH RATIONALE ITC (Investment Tax Credit) - 1960's - ANSWER-Used to stimulate the economy and capital expenditures, it provided a tax credit to purchasers of equipment to offset their tax liability to the government. Initially set at 7%, it became a give & take option with the government. Revenue Procedure 's (TAX LENS) - ANSWER-Laid out the 6 criteria the IRS would use for advanced rulings to determine if the Lessor is t...

CLFP EXAM - Equipment Lease and Financing Documentation | 100% Correct Answers | Verified | Latest 2024 Version What is a Lease a document? - A lease is a basic document by which a lessor agrees to provide equipment or other personal property or rights to a lessees in return for rental payments. What are Lease Exhibits document? - Also referred to a "schedules" are used if the description of lease property is too lengthy to fit into the space allotted on the lease. Often wise to ha...

CLFP 2019- CHAPTER 1 LATEST ACTUAL EXAM WITH RATIONALE ITC (Investment Tax Credit) - 1960's - ANSWER-Used to stimulate the economy and capital expenditures, it provided a tax credit to purchasers of equipment to offset their tax liability to the government. Initially set at 7%, it became a give & take option with the government. Revenue Procedure 's (TAX LENS) - ANSWER-Laid out the 6 criteria the IRS would use for advanced rulings to determine if the Lessor is t...

CLFP - Credit WITH 100- SURE ANSWERS.

CLFP CHAPTER 1 ; HISTORY & OVERVIEW 2022 EXAM WITH CORRECT QUESTIONS AND ANSWRS Economic Recovery Tax Act (ERTA) 1981 - ANSWER-• Revision to the Internal Revenue Accelerated Code; it replaced the more complex Asset Depreciation Range (ADR) • Created the Cost Recovery System (ACRS) • Only five classes of assets, ranging from 3-15 year life Range spans • The owner/lessor could system now fully depreciate an asset without having to estimate useful life ...

CLFP 2019- CHAPTER 1 LATEST ACTUAL EXAM WITH RATIONALE ITC (Investment Tax Credit) - 1960's - ANSWER-Used to stimulate the economy and capital expenditures, it provided a tax credit to purchasers of equipment to offset their tax liability to the government. Initially set at 7%, it became a give & take option with the government. Revenue Procedure 's (TAX LENS) - ANSWER-Laid out the 6 criteria the IRS would use for advanced rulings to determine if the Lessor is t...

CLFP EXAM - Equipment Lease and Financing Documentation 2024 Questions & Answers | 100% Correct | Verified What is a Lease a document? - A lease is a basic document by which a lessor agrees to provide equipment or other personal property or rights to a lessees in return for rental payments. What are Lease Exhibits document? - Also referred to a "schedules" are used if the description of lease property is too lengthy to fit into the space allotted on the lease. Often wise to have lessee i...