UGBA 135 ACTUAL EXAM PAPER 2026
QUESTIONS WITH SOLUTIONS GRADED A+
●● 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
●● When are your credit payments due?.
Answer: generally about 21-25 days after your billing cycle ends
QUESTIONS WITH SOLUTIONS GRADED A+
●● 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
●● When are your credit payments due?.
Answer: generally about 21-25 days after your billing cycle ends
