by Nancy Seiverd | Aug 11, 2020 | Uncategorized
Are Americans’ Credit Card Balances: • Increasing • Decreasing • Staying about the same According to current data from the Federal Reserve) revolving credit debt has declined for the third month in a row. Specifically, revolving credit debt dropped to $995 billion in...
by Nancy Seiverd | Jul 14, 2020 | Uncategorized
Which sectors are on target to surge during this pandemic? Light Consumer ManufacturingHeavy Equipment ManufacturingAgricultureGamblingRetail Alcohol Beverage To say the COVID-19 pandemic and its ensuing lockdown have caused a considerable hole in the world’s...
by Nancy Seiverd | Jun 9, 2020 | Uncategorized
Off the top of your head, how much do you think the U.S. National Debt is? $6 trillion$10 trillion$15 trillion$19 trillion$26 trillion Answer: As of May 2020, the National Debt reached a whopping $25.75 trillion! Given that the national debt has...
by Nancy Seiverd | May 12, 2020 | Uncategorized
How long will it take for the U.S. economy to recover from the Corona virus shutdown? 6 months1 year2 years5 yearsAnyone’s guess If you ask 100 economists when the U.S. economy will recover, you may very well get 100 opinions. With unemployment numbers...
by Nancy Seiverd | Feb 11, 2020 | Uncategorized
When was the first bankruptcy law recorded? 512 AD China 1313 Venice 1542 England 1789 France 1800 U.S Answer: 1542 England In England, the first official law concerning bankruptcy was passed in 1542 under Henry VIII. At that time, a bankrupt individual was considered...
by Nancy Seiverd | Jan 7, 2020 | Uncategorized
Which President held the position as a credit reporter during his lifetime? John Quincy Adams Abraham Lincoln Ulysses S. Grant Grover Cleveland William McKinley Jimmy Carter Answer: You’ll be very surprised to learn that Abraham Lincoln, Ulysses S. Grant, Grover...
by Nancy Seiverd | Dec 17, 2019 | Uncategorized
by Nancy Seiverd | Nov 12, 2019 | Uncategorized
In which country or kingdom was the concept of debits and credits formally established? China India England Persia Venice Egypt Answer: Both India and Venice The concept of debits and credits as a financial transaction classification system was first used and...
by Nancy Seiverd | Oct 8, 2019 | Uncategorized
As recognized by the United Nations, there are currently 180 currencies across the world. Among all these currencies, how many countries do you think call their currency the “dollar?” 8 20 32 44 51 Answer: 20 The “Dollar” (symbol: $) is the name of...
by Nancy Seiverd | Sep 10, 2019 | Uncategorized
Among all of the well-known credit cards today, which one was the first to be introduced as a dining and entertainment credit card? American Express Mastercard Discover Visa JCB Diners Answer: Diners According to historian Jonathan Kenoyer, the concept...
by Nancy Seiverd | Aug 13, 2019 | Uncategorized
In terms of developing a credit scoring model, which benchmarking approach do you think would work best? Process benchmarking Financial benchmarking Functional benchmarking Best-in-class benchmarking Operational benchmarking Before we give you our answer, let’s take a...
by Nancy Seiverd | Jul 15, 2019 | Uncategorized
Which financial ratios should credit professionals rely on the most? a) Profitability ratios b) Liquidity ratios c) Management Efficiency ratios d) Leverage ratios e) Valuation & Growth ratios There really is no right answer. In my view, it’s wide and various as...
by Nancy Seiverd | Jun 19, 2019 | Uncategorized
Since many readers where both pleasantly surprised and challenged from our last crossword puzzle, please enjoy exercising your credit and collection mind.
by Nancy Seiverd | May 14, 2019 | Uncategorized
How many different kinds of bank letters of credit are there? • 3 • 4 • 5 • 6 • More than 6 Answer: More than 6 A letter of credit (LC), also known as a documentary credit, bankers commercial credit, or letter of undertaking (LoU), is a payment...
by Nancy Seiverd | Apr 17, 2019 | Uncategorized
This is a hard one but take a stab at it. How many countries have declared bankruptcy over the past 200 years? • 15 • 35 • 68 • 83 • 111 Answer: A total of 83 countries, including the world’s biggest economies such as the U.S., Germany, Japan, and...
by Nancy Seiverd | Mar 18, 2019 | Uncategorized
Whether you’re an industry veteran or just starting out, we know readers like you want to be challenged! Please take a few minutes and give our CMI Credit & Collections Crossword Puzzle a good old college try. We know you’ll enjoy testing your credit and...
by Nancy Seiverd | Feb 18, 2019 | Uncategorized
In which ancient kingdom or empire were the concepts of accounting first developed? Egypt Greece Mesopotamia Phoenicia Babylon Answer: Mesopotamia and Babylon Accounting records dating back more than 7,000 years have been found in Mesopotamia showing lists...
by Nancy Seiverd | Jan 14, 2019 | Uncategorized
In which country, principality or city was the first stock exchange established? China Venice Belgium London Constantinople Answer: Technically Belgium but credit will also be given for choosing Venice. Please read below. When people think of stock...
by Cheryl Carliss | Dec 12, 2018 | Uncategorized
by Nancy Seiverd | Nov 7, 2018 | Dear Crabby, Uncategorized
Dear Crabby, I meant to reach out to you much sooner as I’ve got a customer (very small business, 2-3 employees) who rambles on and on with a new excuse each time I call them to make their payment. For example, four months ago the problem was due to severe cash flow...
