UGBA 135 Midterm 2025/2026 Exam
Questions with 100% Correct Answers |
Latest Update
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 person have? - 🧠 ANSWER ✔✔3
How do you establish good credit? - 🧠 ANSWER ✔✔borrow $ and pay it
back on time according to its terms
How much is taken out of your paycheck for SS and Medicare? - 🧠
ANSWER ✔✔-12.4% of earned income to SS
-2.9% of earned income to Medicare
Debt-to-credit ratio - 🧠 ANSWER ✔✔how to calculate:
-$3000 debt, $6000 in credit :: 3000/6000 = 50% D/C ratio
-try to be below 50% || 30% is the best
Identity Theft: if you're a victim - 🧠 ANSWER ✔✔-close and replace all
accounts that have been tampered with or didn't open
-file a police report
If you are carrying a balance and you pay more than the minimum
payment, where does the excess go? - 🧠 ANSWER ✔✔the excess is used
to pay off debt of highest interest rate, not the card with the smallest
balance
, credit hold on account - 🧠 ANSWER ✔✔-when a customer is consistently
late in making payments, has exceeded their credit limit, or is identified as
a bad risk, you can prevent additional credit purchases by placing their
account on credit hold
-if hold is executed, it will count against credit
Maximum interest on credit card account - 🧠 ANSWER ✔✔no legal
maximum
Who can see your credit scores? - 🧠 ANSWER ✔✔
Website for free credit report (federally mandated for credit reports) - 🧠
ANSWER ✔✔annualcreditreport.com
Three credit scoring agencies - 🧠 ANSWER ✔✔Transunion (tuc.com) --
Empirica score
Equifax (equifax.com) -- Beacan score
Experian (experian.com) -- Experian model
Best time to establish credit - 🧠 ANSWER ✔✔when you don't need it
aka younger i thinks
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
3
Questions with 100% Correct Answers |
Latest Update
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 person have? - 🧠 ANSWER ✔✔3
How do you establish good credit? - 🧠 ANSWER ✔✔borrow $ and pay it
back on time according to its terms
How much is taken out of your paycheck for SS and Medicare? - 🧠
ANSWER ✔✔-12.4% of earned income to SS
-2.9% of earned income to Medicare
Debt-to-credit ratio - 🧠 ANSWER ✔✔how to calculate:
-$3000 debt, $6000 in credit :: 3000/6000 = 50% D/C ratio
-try to be below 50% || 30% is the best
Identity Theft: if you're a victim - 🧠 ANSWER ✔✔-close and replace all
accounts that have been tampered with or didn't open
-file a police report
If you are carrying a balance and you pay more than the minimum
payment, where does the excess go? - 🧠 ANSWER ✔✔the excess is used
to pay off debt of highest interest rate, not the card with the smallest
balance
, credit hold on account - 🧠 ANSWER ✔✔-when a customer is consistently
late in making payments, has exceeded their credit limit, or is identified as
a bad risk, you can prevent additional credit purchases by placing their
account on credit hold
-if hold is executed, it will count against credit
Maximum interest on credit card account - 🧠 ANSWER ✔✔no legal
maximum
Who can see your credit scores? - 🧠 ANSWER ✔✔
Website for free credit report (federally mandated for credit reports) - 🧠
ANSWER ✔✔annualcreditreport.com
Three credit scoring agencies - 🧠 ANSWER ✔✔Transunion (tuc.com) --
Empirica score
Equifax (equifax.com) -- Beacan score
Experian (experian.com) -- Experian model
Best time to establish credit - 🧠 ANSWER ✔✔when you don't need it
aka younger i thinks
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
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