Fico score - Study guides, Class notes & Summaries
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NACA HUD Certification Exam 2023 with 100% correct answers
- Exam (elaborations) • 7 pages • 2023
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Credit Report 
a compilation of data about you that has been gathered by credit reporting agencies or "credit bureaus" 
 
 
 
Length of Credit History 
Makes up 15% of FICO score 
 
 
 
Type 
__ of credit use makes up 10% of FICO score 
 
 
 
New Credit or Inquiries 
Makes up 10% of FICO score 
 
 
 
Amounts Owed 
Makes up 30% of FICO score 
 
 
 
Payment History 
Makes up 35% of FICO score 
 
 
 
Fair Credit Reporting Act (FCRA) 
act that protects privacy of background information and ensures...
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UGBA 196 - Final Exam 2023 Complete
- Exam (elaborations) • 16 pages • 2023
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UGBA 196 - Final Exam 2023 Complete 
 
Debt to Credit Ratio 
Total balance on your credit cards and other loans compared to your total credit limit. 30% is ideal. (Pay down, charge less or have more cards/increase limits) 
5 things that determine your credit score 
1. Record of paying bills on time (35%) 
2.Debt-to-credit ratio (30%) 
3.Length of credit history (15%) 
4.Recent applications for credit (10%) 
5.Mix of credit cards and loans (10%) 
Highest FICO score 
850 
Best way to establish goo...
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NACA HUD Certification Exam 2023-2024 Questions and Answers 100% Correct!
- Exam (elaborations) • 6 pages • 2024
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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 score 
 
Payment History - ANSWER-Makes up 35% of FICO score 
 
Fair Credit Reporting Act (FCRA) - ANSWER-act that protects privacy of ba...
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UGBA 196 Midterm questions & answers graded A+ 2023 /2024
- Exam (elaborations) • 13 pages • 2023
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UGBA 196 Midterm 
What does your FICO score represent? - correct answer delinquency and default rate of a large number of people with similar credit history 
 
What factors determine your FICO score? (5) - correct answer on time bills, debt to credit ratio, length of credit history, new accounts/applications for credit, mix of credit cards and loans 
 
Credit Card Act - correct answer ⁃ no interest rate increase for 1 year unless introductory rate has come to an end or you are 60+ days late on...
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UGBA 135 Midterm Exam 2023
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FICO Score - Answer- measure of consumer credit risk 
 
Highest FICO Score - Answer- 850 
 
Factors determining FICO Score - 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 credit 
 
How many FICO scores does a pe...
And that's how you make extra money
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NACA HUD Certification Exam 2023 with 100% correct answers
- Exam (elaborations) • 7 pages • 2023
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- $16.49
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Credit Report - correct answera compilation of data about you that has been gathered by credit reporting agencies or "credit bureaus" 
 
Length of Credit History - correct answerMakes up 15% of FICO score 
 
Type - correct answer__ of credit use makes up 10% of FICO score 
 
New Credit or Inquiries - correct answerMakes up 10% of FICO score 
 
Amounts Owed - correct answerMakes up 30% of FICO score 
 
Payment History - correct answerMakes up 35% of FICO score 
 
Fair Credit Reporting Act (FCRA...
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Hawaii Real Estate Exam
- Exam (elaborations) • 14 pages • 2023
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Hawaii Revised Statutes include specific chapter on all of the following forms of property ownership EXCEPT: 
 
A. Timeshares 
B. Cooperative housing 
C. Fractional ownership 
D. Planned communities - Answer- C. Fractional ownership 
 
Client trust funds shall be placed into the brokerage trust account: 
 
A. On the day of receipt 
B. By the next calendar day following receipt 
C. By the next business day following receipt 
D. Within three business days following receipt - Answer- C. By the next...
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AGEC 235 EXAM 2 questions with correct answers
- Exam (elaborations) • 5 pages • 2023
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FICO score CORRECT ANSWER 300-850 
 
5 factors that determine credit score CORRECT ANSWER payment history 35% 
amount owed 30% 
length of history 15% 
type of credit 10% 
new credit 10% 
 
Where can you get 1 free credit report a year? CORRECT ANSWER Annual credit 
 
3 major credit bureaus CORRECT ANSWER Equifax, Experian, TransUnion 
 
5 C's of credit CORRECT ANSWER Character, Capacity, Capital, Collateral, Conditions 
 
3 ways credit cards benefits consumer CORRECT ANSWER bill consolidation ...
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UGBA 135 Midterm 1 (Fall 2023)
- Exam (elaborations) • 18 pages • 2023
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1. What is an emergency fund and what is used for? - Answer- - savings to cover 3 to 6 months of living expenses in readily available cash to be used only in the event of an emergency (15% of the earnings paycheck) Standard Savings account 
 
What is our definition of a millionaire? - Answer- someone who can take care of themselves without help from a government agency, financially independent, live the life they want to lead 
 
What is the rule of 72? - Answer- How long it will take to double y...
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Federal Housing Administration (FHA)
- Exam (elaborations) • 5 pages • 2024
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Federal Housing Administration (FHA) 
 
-borrowers with a credit score of less than _________ are not eligible for FHA loans. - 500 
 
-borrowers with less than 580 FICO score will be required to put down at least _________%. - 
10% 
 
-borrowers with less than 580 FICO score will be required to put down at least 10%. - they 
are required to put at least 10% down, or are only elgible for 90% financing 
 
-down payment from assistance from _________ is prohibited. - sellers 
 
-every time there i...
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