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Baseline - Credit Underwriting Flashcards | StudBud
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Baseline - Credit Underwriting
Baseline - Credit Underwriting
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Questions
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Answers
1
To qualify for ACH on the first invoice, what credit score must a client have?
70% or higher
50% or higher
60% or higher
80% or higher
2
At what point should the credit check be initiated during the client onboarding process?
After 90 days of payment history
After the first invoice is issued
Before the client goes through a tech demo
Before or at the time of CSA signing
3
A client’s initial credit score is 35%. What payment method will they qualify for?
Wire payment method
ACH on the third invoice
ACH on the first invoice
Reverse FedWire
4
Which of the following is NOT one of our five payment method options?
Credit card payment
Wire payment
ACH on first invoice
Reverse Fed wire
5
Our credit evaluation process is optional for businesses that have been operating for over 5 years.
True
False
6
Why is our credit evaluation process important?
All of the above
It ensures we follow KYC banking requirements
It helps reduce write-offs
It protects us from fraud
7
If a client is declined for ACH due to their experience score, when can they request a re-evaluation?
90 days
45 days
60 days
30 days
8
What is the minimum credit score required to pass our credit check?
70%
40%
50%
30%
9
Which of the following is NOT required on the client credit check form?
Legal business name
Payroll processing software
Address of the financial institution
Client type (PEO, ASO, HCM)
10
For a normal business going thru credit underwriting, the only required form is the Client Credit Information (CCI) Form
True
False
11
Which of the following factors does Experian Business IQ use to calculate a client’s credit score?
Payment history, payment frequency, and liquidity
Annual revenue, profit margin, and payment history
Industry classification, employee count, and liquidity
Invoice amounts, credit inquiries, and payment terms
