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Nationwide Multistate Licensing System NMLS · Flashcards · Application
NATIONWIDE MULTISTATE LICENSING SYSTEM NMLS · FLASHCARDS
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QUESTION
Calculate utilization: balance
$
3,000
\$3{,}000
$3
,
000
, limit
$
10,000
\$10{,}000
$10
,
000
. What is utilization?
QUESTION
Calculate total utilization: balances
$
2,000
\$2{,}000
$2
,
000
and
$
1,000
\$1{,}000
$1
,
000
; limits
$
5,000
\$5{,}000
$5
,
000
and
$
5,000
\$5{,}000
$5
,
000
.
QUESTION
Calculate utilization: balance
$
3,000
\$3{,}000
$3
,
000
, limit
$
10,000
\$10{,}000
$10
,
000
. What is utilization?
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ANSWER
30
%
30\%
30%
. Utilization is calculated as the percentage of the credit limit currently borrowed, here yielding this result.
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