Credit/Management

The 4 C's of Credit

100

Something of value that is used to secure a loan.  Usually required for those that have no credit or bad credit

Collateral 

200

This C gives the lender an idea of what type of person you are.  Your credit history can be used to determine this

Character 

300

This C looks at how much money you make vs. how much debt you have

Capacity

400

These are things of value that you own.  

Capital

500

This C looks at what the loan is being used for

Conditions 

Loans

100

The amount you pay in interest per year

APR

200

The initial amount you borrowed

Principal

300

The additional amount charged to you while paying a loan

Interest

400

Money borrowed to buy a house

Mortgage

500

Portion of a purchase price paid by cash at the time the purchase.

Down payment

Management Styles

100

Tom is the manager at Admiral Nation. The store receives new inventory and he tells the employees to arrange it however they like.  What style of management is this.

Laizze Faire 

200

Bob asks his employees for feedback when making important decisions. Which managment style is he using?

Democratic 

300

Jill makes all of the decisions on her own and will Not accept advice from any of her employees. Which management style is she using?

Autocratic 

400

What  is the best management style?

It depends on the situation 

500

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Credit Problems

100

This is the legal proceeding where a person is declared unable to pay debts and assets are sold.

Bankruptcy 

200

A person has a history of missing payments, paying late, and has also defaulted on one loan. This person shows a lack of:

Character

300

Apply for a lot of different loans in a short period of time will effect this

Credit rating

400

This law protects consumers from being harassed by those attempting to collect debt

Fair Debt Collection Act

500

This nonprofit organization helps consumer reorganize their debts to help get out of debt and understand better financial responsibility.  

Consumer Credit Counseling Service

Management Levels

100

The level of management that sets the goals for the company. 

Upper/Executive/Top

200

This level of management deals with the customers the most. 

Supervisory/First Line

300

The CEO is at this level of management. 

Executive/Top/Upper

400

This level of management makes the plans to reach the goals.  

Middle

500

CEO is an acronym for what.

Chief Executive Officer