...Assignment 1: Calculating Credit Scores Course Objectives and Learning Outcomes Identify the factors that determine someone’s credit rating. Calculate the cost of a loan given various ratings of the borrower. Analyze various personal finance scenarios dealing with student loans, personal consumer loans, mortgages, the true cost of bad credit, compound interest, savings, investing in assets, budgeting, and using self-control when spending. Assignment Requirements A credit score needs to be protected and improved. You need to understand the true value of a credit score by researching the causes of bad credit scores and how to improve them. Using the Internet and ITT Tech Virtual Library, you will research how the credit score is calculated and what influences the credit score. Answer the following questions in detail. How is your credit score (FICO) created? Who reports your FICO score? What are the factors in determining the FICO score? What steps could you take to improve your FICO score? Required Resources Skills for Living a Rich Life, Chapter 12 Computer with MS Word and Internet access ITT Tech Virtual Library Printer Submission Requirements Prepare a two- to three-page typed paper, double-spaced, using 12-point Times New Roman font. Please include appropriate references in APA format. This assignment is due at the beginning of Unit 8. GS2745 UNIT 7 ASSIGNMENT 1 How is your credit score (FICO) created? FICO Scores are calculated from several...
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...ASSIGNMENTS Table of Contents Graded Assignments 2 Unit 1 Assignment 1: It Takes Courage 2 Unit 2 Assignment 1: Left in the Lurch 3 Unit 3 Assignment 1: Gratitude Journal 4 Unit 4 Assignment 1: Create a Business Letter 5 Unit 5 Presentation 1: Small Group Presentation: Leadership, Conflict Resolution, and Teamwork 7 Unit 5 Assignment 1: Compare and Contrast Effective and Ineffective Leaders 8 Unit 6 Assignment 1: Create a Long-Term Financial Plan 10 Unit 7 Assignment 1: Calculating Credit Scores 11 Unit 8 Assignment 1: Writing a Prospective Schedule 12 Unit 9 Assignment 1: Using Social Media for Job Searches 14 Unit 10 Assignment 1: Putting the Finishing Touches on Your ePortfolio 15 Laboratory Assignments 17 Unit 1 Lab 1: Personal Persistence Narrative 17 Unit 1 Lab 2: Grit Test 21 Unit 2 Lab 1: Optimism 24 Unit 2 Lab 2: Self-Control 25 Unit 3 Lab 1: Curiosity in Modern Times 27 Unit 3 Lab 2: Integrity Matters 28 Unit 4 Lab 1: Create a Research Summary Memorandum 29 Unit 5 Lab 1: Resolving Systemic Conflict: Scenario Analysis 31 Unit 6 Lab 1: Time Value of Money 32 Unit 6 Lab 2: Budget Exercise 33 Unit 7 Lab 1: Calculating House Cost 35 Unit 7 Lab 2: Delayed Gratification 37 Unit 8 Lab 1: Initiative Reflection 39 Unit 8 Lab 2: Time Management Reflection 40 Unit 9 Lab 1: Creating a Professional Profile 41 Unit 10 Lab 1: Creating a Personal and Professional Development Plan 43 Graded Assignments Unit 1 Assignment 1:...
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...Index | S/N | Topics | Page No. | 1 | ACKNOWLEDGEMENT | 00 | 2 | Initialization | 01 | 3 | Managerial Decision | 02 | 4 | Z- Score Analyze | 03 | 5 | Z – Score from Financial Statement | 03-09 | 6 | Result Verification | 10 | 7 | Reference | 00 | Initialization Bangladesh Development Bank Limited (BDBL) Bangladesh Development Bank Limited (BDBL) is fully state owned Commercial Bank of Bangladesh. In addition commercial banking, BDBL provides financial and technical assistance to broaden the private as well as public sector industrial base of the country. It prioritizes, especially, Export Oriented/Export Linkage industrial units, Efficient Import Substitution, Joint Ventures, Commercialization of local technology and promotion of agro-based industry. Vision, Mission, Values of the Bank: Vision: To emerge as the country’s prime Financial Institution for supporting private sector industrial and other projects of great significance to the country’s economic development. Also be active participant in commercial banking by introducing new lines of product and providing excellent services to the customers. Mission: * To be competitive with other Banks and Financial Institutions in rendering services ; * To contribute to the country’s socio-economic development by identifying new and profitable areas for investment ; * To mobilize deposit for productive investment ; * To expand branch network in commercially and geographically important places...
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...Suzanne Woods Harshaw HRM 1121 Tuesday, December 04, 2012 TERM PAPER To Check or Not to Check? Should employers be allowed to make a credit check a mandatory requirement before being hired? This is an issue that is up for debate up to the national level. Those who support employers that engage in this practice argue that if you can’t handle your finances you might not be able to handle the job, that you pose the possible threat of internal theft or embezzlement and that one’s credit history demonstrates reliability and responsibility. On the other hand, there are those that feel this practice is inappropriate; to say the least it is an invasion of privacy that your personal credit may have been adversely affected by situations beyond your control and that previous experience and work ethic make an applicant qualified for a position, not personal credit. I think engaging is this practice is a ridiculous stipulation to be considered for employment. In this uncertain economy and sky rocketing unemployment rates in recent years, it unfairly penalizes people whose credit was damaged by layoffs, medical bills or other factors beyond their control. In recent years the United States has been hit with a number of economic crises. Millions of American’s are out of work and for lengthy periods of time. In addition to the foreclosures this crisis has caused; medical bills are mounting for those who are out of work and cannot afford private health insurance. These are just...
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...Banks and financial institutions, credit risk is an essential factor that needs to be managed. Credit risk is the possibility that a borrower or counter party will fail to meet its obligations in accordance with agreed terms. Credit risk, therefore, arises from the bank’s dealings with or lending to corporates, individuals, and other banks or financial institutions. Credit Risk Grading is an important tool for credit risk management as it helps a Bank to understand various dimensions of risk involved in different credit transactions. The aggregation of such grading across the borrower, activities and the lines of business can provide better assessment of the quality of credit portfolio of a bank or a branch. The credit risk grading system is vital to take decisions both at the pre-sanction stage as well as post-sanction stage. At the pre-sanction stage, credit grading helps the sanctioning authority to decide whether to or not to lend, what should be the pricing for a particular exposure, what should be the exposure, what should be the appropriate credit facility, what the various facilities are and what are the various risk mitigation tools to put a cap on the risk level. At the post-sanction stage, the bank can decide about the depth of the review, periodicity of the grading, and other precautions to be taken. Having considered the significance and necessity of credit risk grading for a Bank, it becomes imperative to develop a credit risk grading model which meets the...
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...Risks and Benefits Associated with Bad Credit Loans Bad credit loans are a blessing in disguise for those suffering from bad credit history. People unable to pay their bills or loans on time suffer from a bad credit score that affects negatively on their credit history. There are a number of reasons behind a bad credit history including financial crises, bankruptcy, inability to pay bills on time and many others. Recession is one of the major factors behind bad credit history of the people as they suffer from financial crises due to poor economic conditions and by loosing their jobs. Inflation is another solid reason that leads to poor credit scores. Bad credit loans help you enjoying the privilege of enjoying loans even if you suffer with poor credit history. Bad credit loans provide you financial assistance in a number of critical situations such as paying a sudden and unexpected medical bill, meeting the financial crunch at the end of the month, coping sudden personal financial needs when you run short of money. Bad credit loan is a perfect solution for all the above-mentioned problems as it let you get instant cash in order to fulfill your financial requirements. There are a number of lenders over the Internet and in the offline environment that offer ad credit loans to the people having no or poor credit history. The ultimate advantage of a bad credit loan is that you can instantly get the loan. You don’t need to wait for weeks to get your loan approved as you can...
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...than 9 million individuals are victims of identity theft each year. The Justice Department puts the figure at more than 3.5 million households (Anderson). Anyone can become a victim of identity theft and it is not limited to the financial activities of one’s life. People’s identity is also stolen in order to commit criminal activities. Both activities are defined as fraud and are punishable by law if caught. Financial identity theft or fraud includes bank fraud, credit card fraud, computer and telecommunications fraud, social program fraud, tax refund fraud, and mail fraud. In fact, a total of 25 types of financial identity fraud are listed and investigated by the United States Secret Service (Obringer). In 1997, Secret Service agents made approximately 10,000 financial crime arrests which 94 percent involved identity theft (Obringer). Fifteen years later, Javelin Strategy & Research reports that over 12 million financial identity theft cases were reported (Javelin Strategy & Research). Other types of identity theft usually involve financial elements as well but are typically committed to fund some sort of criminal enterprise. Criminal activities include gaining someone else’s identity in order to enter a country, get special permits, hide one's own identity, or commit acts of terrorism. Criminal identity theft is relatively easy to commit by simply providing someone else’s name and birth date. Thieves are aware that evidence will point to the...
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...lack the financial literacy needed to make financial decisions in their self-interest. A growing number of analysts and politicians are blaming the intersection of low levels of financial literacy with complex, financially-engineered products for the current economic meltdown and have proposed a number of solutions to this problem. These solutions range from mandatory education in personal finance to required simplification of financial products and greatly increased regulation. This paper examines evidence on the effectiveness of personal finance education on both financial literacy and financial behavior. If the problem can be solved through education, it is likely to reduce the perceived need to limit choice in the marketplace for retail financial products. If education is shown to be ineffective, the future of financial product innovation and financial engineering may be greatly limited. Supporting the effectiveness of education in promoting self-beneficial financial behavior is a well-known paper by Bernheim, Garrett and Maki (2001) which linked required high school education in personal finance to higher levels of saving, decades later, in middle age. On the other hand, five national surveys of high school seniors conducted since 2000 by the Jump$tart Coalition (Mandell 2001,...
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...FUNDAMENTALS OF MANAGEMENT MGMT 3013-002 Spring 2007 COURSE SYLLABUS Instructor: Robert W. Richards, Jr. Campus Office: Room 106 Spears School of Business Bldg Contacting me: Home email is regularly in use day and night. Telephone: 744-5115 Residence Phone: 405-707-0842 Office E-mail: robert.richards@okstate.edu Home E-mail: Robert@rwrichards.com Office Hours: TBA Classroom: LSW 103; TR 2:00-3:15 Syllabus Attachment: Academic Information, Important Dates, Student Rights and Responsibilities, etc.: http://osu.okstate.edu/acadaffr/aa/syllabusattachment-Spr.htm Textbook: Management: People, Performance, Change, Luis R. Gomez-Mejia, David B. Balkin, Robert L. Cardy, 2nd ed., McGraw-Hill, 2005. ISBN 0-07-284697-6 Course Description: This course is designed for non-management and non-business majors. While it is an introductory course covering management concepts, the student should complete the course gaining new understandings of overall business concepts and people skills. Attendance: Students are expected to attend all classes and complete all assignments. Absence has never been a general, overall problem. Rather it is a problem specific to a hand full of people and will be noticed. Attendance will not be taken at every class, but the assigned points will be based on the classes when attendance was taken. Be aware, very aware, that the instructor teaches to the exam and emphasizes the important points in class...
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...it this. I looked for days on the internet trying to find banks or depositories with credit cards with variable interest rates. What I found was many banks with many credits all with annual percentage rates (APR). So to keep my insanity I just looked at three commercial banks. I looked at Bank of America, US Bank, and Regions bank. I looked at all their credit cards student, business, rewards, and secured. Bank of America credit cards Apr varied anywhere from 12.99% to 20.99%. Here is how they get people, 0% introductory APR for the first 12 billing cycles only for purchases. When that cycle ends your rate will depend on your creditworthiness. US Bank does similar and their rates are from 11.99% to 23.99%. Regions is in the same neighborhood starting at 13.99%, 16.99%, or 19.99% based on credit, but can quickly climb to 24.99% or even 29.99%. Every bank I researched, including credit unions, all based the rate that you would receive on your creditworthiness when you open your account. After that, your APR will vary with the market based on the Prime Rate as set out in the Variable-Rate information section of your agreement. The current annual percentage rate (APR) for a new car can vary from bank to bank, amount to amount, and year to year. It is not something that is set in stone. I looked at PNC bank, US Bank, and St. Louis Community Credit Union for this part of the research. At PNC Bank the annual percentage rate on a loan amount from $15,000 to $49,999 with...
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...specific book is a requirement of the course *Additional reading or video assignments will be made throughout the course. Course Description Explores the scientific approach to the study of psychological phenomena, human development, learning and thinking, motivation and emotion, perception, testing and measurement, personality and behavior. Course Objectives The primary objective of this course is to provide a general overview of the major areas of psychology by discussing basic terms, concepts, principles, and methods of psychology. This class will provide you with an introduction to the following areas of psychology: the history of psychology, personality, learning, human development, stress, abnormal psychology, psychotherapy, research methods, intelligence, and social psychology. In addition, I want you to understand these major areas of psychology and apply concepts learned in class to everyday life via the development of critical thinking skills and effective study strategies and habits. This course is also meant to prepare those taking classes for which PSY 1101 is a prerequisite. Student Learning Outcomes The successful completion of this class will enable you to: o Acquire the fundamental vocabulary of the social-science sub-discipline of psychology by recognizing and recalling the basic definitions of psychological concepts, theories, and methods...
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...LONDON SCHOOL OF BUSINESS AND FINANCE CREDIT RISK MANAGEMENT OF NON-BANKING FINANCIAL INSTITTUTION IN GHANA (A CASE STUDY OF TF FINANCIAL SERVICES) BY STEPHEN KWADWO NTIRI A Thesis Submitted to the London School of Business and Finance in Partial Fulfilment of the Requirement for the MBA Degree in Financial Services MARCH 2010 DECLARATION I Stephen Kwadwo Ntiri hereby declare that except for references to other people’s work, which have duly been acknowledged, the work presented here was carried out by me, MBA student of Financial Servies at the London School of Business and Finance (LSBF), under the supervision of Randolph Metz-Johnson. I also declare that this work has never been submitted partially or wholly to any other institution for the award of a certificate. …………………………………………… ……………... Stephen Kwadwo Ntiri Date (Student) ………………………………………… …………… Randolph Metz-Johnson Date (Supervisor) Dedication This research project is dedicated to Almighty God for His abundant blessings and protection given me throughout this study, and also to my family for the support I received from them. Acknowledgement I am most grateful to Almighty God who through His infinite mercy and love guided me throughout the duration of the programme. I wish to acknowledge the help and encouragement I got from the entire staff of TF Financial Services, especially Mr. Benjamin Turkson, which has enabled me to complete this work. I also want to thank my wife, Esther Yamoaba...
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...eurojournals.com A Synthesis of the Critical Factors Affecting Performance of the Nigerian Banking System Godwin Chigozie Okpara Department of Banking and Finance, Abia State University, Uturu E-mail godgozie@yahoo.com Abstract This paper is set out to determine the factors impacting most on the performance of the banking system in Nigeria. To do this, factor analysis technique was used on the factors identified by the collaborative study of the CBN/NDIC. The result revealed that factors such as undue interference from board members, political crises, undercapitalization and fraudulent practices are the most critical factors inhibiting the efficient performance of the Nigerian financial institutions. The author therefore contends that the just concluded N25billion recapitalization exercise of the central bank was a necessary but not a sufficient measure in the right direction. The sufficient measure must be one that controls all the identified critical factors at the same time. 1.0. Introduction Banks in most economies are the principal depositories of the public's financial savings, the nerve centre of the payment system, the vessel endowed with the ability of money creation and allocation of financial resources and conduit through which monetary and credit policies are implemented. The success of monetary policy, to a large extent, depends on the health of the banking institutions through which the policies are implemented. As a result of this central role of banks in the economy...
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...farm income, loan amount taken for purchasing animal and location of the cattle rearers with positive signs. Negative signs obtained for the variables like experience of cattle rearers, age of cattle rearer, farm diversification and farm Size. Continued availability of subsidy, simplified procedure and early settlement of claim, an option for reasonable installment mode of premium payment are the suggested measures Keywords: Cattle insurance, Factors motivating cattle rearers, National livestock insurance scheme, Logit regression *Associate Professor (Agrl Extension), Department of Cooperative Management, College of Cooperation, Banking and Management, Kerala Agricultural University, Thrissur. **PG research scholar, MBA (ABM), UAS, Dharward International Journal of Research in Economics & Social Sciences http://www.euroasiapub.org 39 IJRESS INTRODUCTION Volume 3, Issue 2 (March 2013) ISSN: 2249-7382 In rural areas, the supplementary income derived from rearing of livestock and serving as great source of support to...
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...disruption in our credit markets is already of historic proportions and will have important economic impacts. More importantly, this crisis has set in motion fundamental societal changes – changes that affect our consumer habits, our values, our confidence to the future, and our psychological status. After this financial crisis, our economic went downturns and worsen now. When we talk about or hear about the subprime mortgage crisis, to fully understand the crisis help us to avoid the crisis happening again in the future. This literature review considers different opinions of the subprime mortgage crisis by responding to the following questions: 1. What are subprime mortgages? 2. How did the subprime mortgage crisis happen? 3. What are the causes of the subprime mortgage crisis? 4. Was the subprime mortgage crisis in the U.S. totally unexpected? 5. What to do to avoid it happening again in the future? By answering these questions, we can have understandings of the subprime mortgage crisis and find out the solutions to the crisis. When Americans taking advantage of the easy credit conditions, we take for granted the problems behind the credit system. The consequences of the crisis affect everyone that is why we need to look back and learn the lessons from the subprime mortgage crisis. What are subprime mortgages? Before we come to subprime mortgages, let us figure out what do we mean by “subprime”. Subprime is the opposite to prime. Private sources of mortgage credit overtook government...
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